Under the PLH model, there is possibility that the Greater Southern Waterfront will be the next likely location, where Keppel Club stands.
The area appears to have a strong value proposition for buyers due to the potential capital gains, notwithstanding the subsidy clawback upon resale, he says.
A new project in Rochor under the new housing model has already been launched as part of the November BTO sales exercise.
Despite the additional rules under the PLH programme, which includes a 10-year minimum occupancy period (MOP), Sun sees buyers still being attracted to flats due to its proximity to the city centre and the Central Business District (CBD).
“Some may also like the prestige of living in the downtown area or to enjoy the price appreciation in the long term. Some may also like the novelty of the whole PLH model and want to have the first-mover advantage of being the pioneer batch to own a PLH flat. Therefore, if the government continues to launch PLH flats in good locations, then demand should remain robust,” writes Sun.
“We are not aware of other PLH locations apart from the Rochor site and Greater Southern Waterfront. Flats in the Greater Southern Waterfront should be quite well received when they are launched next time, given its proximity to the CBD, amenities and redevelopment works for the precinct under the new master plan,” she adds.
How will this PLH be a game changer for Singapore real estate market with all the new condominium projects coming onto the pipeline as there is upcoming new condo launch The Arden and Sceneca Residence.
CDL to develop Piccadilly Grand, Piccadilly Grand location in cityfringe
