Want a house in Tampines? Learn the upcoming EC at Tampines St 62

2 99-year leasehold land parcels offered as part of the Government Land Sales Program have actually each fetched nine bids at state tenders that closed on Thursday.

One is a plot for a private housing development with business area on the ground storey, located next to the upcoming Lentor MRT station on the Thomson-East Coastline Line; and also an additional is a site for an exec condominium (EC) housing along Tampines Street 62. ECs are a public-private real estate crossbreed.

For the EC site in Tampines St. 62, the top quote of S$ 422M or almost S$ 659 psf ppr originated from a consortium making up a Qingjian Realty as well as Octava Pte Ltd joint venture and Santarli Realty.

If you believe the Tampines St. 62 EC price shouldn’t be that high, time to compare with Canninghill Piers which will be sold at $3,000.

The Tampines St 62 EC project is about 1 kilometre from the Pasir Ris MRT terminal, near nature parks such as Tampines Eco Environment-friendly Park and Tampines North Blvd Park. It is likewise situated towards the south of Tampines Meridian Junior College. Neighboring schools are Poi Ching Primary School, Gongshang Pri school, Elias Pri school, and so on.

Image from: Tampines St 62 EC https://tampinesnorth-ec.com/

Tampines St 62 EC location map

Tampines has had a variety of HDB Build-To-Order introduces in the past few years, providing a huge pool of potential upgraders to ECs.

Tampines North blueprint

REASONS TO INVEST IN Tampines St 62 EC? Assistant supervisor of research and also consultancy claimed a strong marketing factor is the site’s distance to the upcoming Tampines North MRT terminal and also facilities in Tampines town.

The existing mean transacted rates for brand-new EC units marketed by realty companies in 2Q2021 is $1,154 psf. This colony cost will make current EC projects reasonably cheap by comparison.
The optimistic leading bid shows a positive outlook on EC prices in addition to solid expectation for household sites as a result of developers’ declining supply of left houses.
Piermont Grand was cost a mean rate of $1,151 psf, as well as Parc Central Residences at $1,173 psf. For that reason, a median asking price of over $1,200 psf for brand-new ECs could be breached when the Tampines St 62 EC is launched.

Tampines is the preparation location and household community in the geographical area of Tanah Merah situated along the north-eastern shore of the East Region of Singapore. The planning location is bordered by Bedok as well as Paya Lebar to the west, Pasir Ris to the north, Changi to the eastern, as well as the Singapore Straits to the south. Tampines New Town lies in the north section of Tampines intending area.