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Expect spectacular demand for Spectra
Singapore Property Market News and Analysis


Latest Property Real Estate News - Published on 31/08/2009
Punggol Spectra, HDB’s latest BTO (Build-To-Order) launch located along Punggol Central, is expected to be very well-received.
Firstly, the project introduces 2- and 3-room flats to the area, from just $89,000 and $151,000 respectively. “Smaller families will be attracted to these units, especially given their attractive prices,” says Adam Tan, Corporate Communications Manager of PropNex. He supports this statement by pointing out the fact that 2- and 3-room median resale prices across Singapore have not seen such affordable levels for over two years.
Secondly, the 4-room flats at Punggol Spectra boast a starting price tag of just $234,000; 30% cheaper than the $334,500 median resale price for 4-room HDB flats in Punggol for 2Q09.
“Given the recovering economy,” says Mr Tan, “HDB has remained prudent in pricing Punggol Spectra’s 4-room flats so affordably.” Again, he highlights the fact that median resale prices for 4-room flats in Punggol have not seen such low levels for the past two years.
Mr Tan elaborates on the anticipated popularity of Punggol Spectra with reference to the Master Plan to transform Punggol into a “Waterfront Town of the 21st Century.”
 
“Besides the usual shops, eateries and supermarket, besides the connectivity to expressways and the public transportation system,” he explains, “Punggol has also seen a huge development from a mere decade ago. It is no longer considered a backwater estate. Indeed, those with a mid- to long-term view and looking for a waterfront lifestyle, may well consider Punggol Spectra.”
Mr Tan expects the 1,142 units of Punggol Spectra to be at least four times over-subscribed.
 
 
 
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For enquiries, please contact:
Mohamed Ismail (CEO)                                                  9487 1414
Adam Tan (Corporate Communications Manager)            9006 8726


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