In the same way, with new household offer remaining restricted in each Springleaf and Lentor, the longer term enhancement on Parcel A is perfectly positioned to attract customer fascination.
"The previous requirement to construct extended-remain serviced apartments through the URA was very unconventional as Springleaf space may see little demand for lengthy-stay serviced apartments.
" stated Kiwi Lim, Affiliate Team Director of PropNex Realty. "for that reason builders have been envisioned to generate low delivers of less than S£1,000 psf ppr ahead of the tender closed without bidders."
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I recall traveling to Upper Thomson and savoring the tranquil surroundings, the greenery, as well as the neighborhood foods spots.
Land provide for private housing has long been even further beefed up for the second 50 % of 2023, using the total verified supply for that year to its optimum in a decade.
This sound turnout also marks a crystal clear turnaround in builders’ sentiment in the cautious tone viewed previous 12 months, if the close by Upper Thomson Highway (Parcel B) web-site drew only one bid from a GuocoLand–Hong upper thomson parcel a gls Leong Holdings joint venture in April 2024. As a result, renewed developer assurance is obvious on the back of enhancing industry momentum.
• The great spread of websites across the island will deliver various housing alternatives that cater to different demands and preferences.
This slower progress implies purchasers may well not sense rushed to acquire today, which might also clarify why builders are cautious.
Upper Thomson might sit somewhere With this price assortment, nonetheless it’s not sure because the serviced condominium concept is new.
Additionally, there are mother nature reserves nearby, which may be a good weekend escape for people who delight in going for walks within the forest or spotting wildlife.
It would generate land rates over existing highs, indicating that developers are optimistic that assets prices along the Thomson-East Coastline Line corridor would go on to increase Eventually.
The problem listed here is the fact This page is untested for sure attributes, Specifically the prolonged-remain serviced apartments, and developers typically desire to take a position in areas that truly feel far more predictable.
When successfully awarded, the location could enter the market all-around 2027 as clean supply in both of those the OCR and Upper Thomson Street space.