New Yishun BTO expected to be a hit with buyers

NewsNovember 18, 2010

HDB released today 1,176 new 3-room, 4-room and 5-room Build-To-Order (BTO) flats at Yishun Greenwalk, a project at Yishun Ring Road, and these are expected by leading real estate agency PropNex to be hugely popular with buyers for several reasons

“Yishun is no longer a quiet HDB estate,” explains PropNex corporate communications manager Adam Tan. “Yishun town has seen, and continues to see, developments that add to a more well-rounded lifestyle for the residents. These include a library, green spaces and educational institutions.”

Mr Tan points out that it is Yishun Greenwalk’s location near to so many schools that makes it ideal for young couples who are looking to start a family in the next few years. The close proximity of several town gardens and Yihsun Pond also offer these families many opportunities to get close to nature and bond in the outdoors.

For entertainment, Northpoint Shopping Centre and a Golden Village are but minutes away, while families can also relax down the road at SAFRA Yishun.

“Many young couples do not own a car,” points out Mr Tan, “so public transportation and connectivity will be very important to them. Yishun Greenwalk will be popular also because of its location within walking distance of Yishun MRT station.”

However, Mr Tan reveals that one reason why this BTO project will be a hit with first-timers and young couples will be its price. Prices for Yishun Greenwalk units range from 20% cheaper for 5-room flats to 40% cheaper for the 3-room flats, as compared to HDB’s 3Q10 median resale prices for a Yishun.

“This is very attractive for the younger, more cash-strapped families and buyers,” states Mr Tan. “One must also take into account the fact that when buying a unit at Yishun Greenwalk under the BTO scheme, the buyer need not pay Cash-Over-Valuation, which ranges between $30,000 and $33,000 for those flat types in Yishun, according to HDB’s 3Q10 results.”

Mr Tan expects Yishun Greenwalk to be oversubscribed by about four times all told, with the more popular units being the 4-room and 5-room flats.

END

For enquiries, please contact:

Adam Tan (Corporate Communications Manager) 9006 8726

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