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Second batch of condo-like flats to go on sale

A FLURRY of applications is expected for the latest batch of flats that look like condominiums but sell for just about two-thirds the price of condo units in the same area.

The second batch of public housing being offered by private developers goes on sale on Saturday, one year after the first lot was launched to overwhelming demand.

Like the first project in Tampines, the latest 714-unit project in Boon Keng offers condo-like trappings such as timber flooring, built-in wardrobes and kitchen cabinets, and air-conditioning.

In fact, some boast features condo owners would love.

Some flats will have wall-to-wall balconies in living rooms and master bedrooms that look out onto the Kallang River and beyond.

Large bay windows will extend to all bedrooms – and even the shower stalls in the bathrooms.

And lift lobbies will come equipped with a card access system to keep out intruders.

Giving a sneak peak of showflats at the development called City View @ Boon Keng on Thursday, developer Hoi Hup Sunway Development said it was offering 72 three-room flats, 168 four-room flats, and 474 fiveroom flats – housed in three 40 storey blocks.

Under this programme, private developers are given a free rein over the design, pricing and sale of the homes, as long as they adhere to the general rules of public housing.

For the Boon Keng development, three-room flats units are priced at $349,000 to $394,000; four-room units at $523,000 to $597,000. Five-room flats will be offered at $536,000 to $727,000. On average, they are going for $520psf.

Their prices are wedged between those of resale Housing Board flats and those of private 99-year leasehold condos in the same area.

A five-room, 11-year-old HDB flat near the project site changed hands for $545,000 in November, for example, while units at private condo Kerrisdale in Sturdee Road sold for $731 psf to $786 psf late last year.

Potential buyers are also watching closely. Hoi Hup Sunway has received about 1,000 inquiries in the past month. Those who sign up for a unit face a computer ballot to decide who books a unit.

Those interested can apply online at http://www.hoihup.com from 9am on Jan 5. Applications close Jan 16.

Other similar developments – which could house about 2,500 more units – are being planned for Ang Mo Kio, Bishan, Toa Payoh, Simei and Bedok.

 

Source: The Straits Times 3 Jan 08

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