Toa Payoh is well known for its attractiveness as a mature HDB estate, well chocked with amenities and commanding considerable prices for the resale HDB flats. However, the private condominiums in its midst are far and few in between
But that might soon change as a private residential site near Braddell MRT station has been put on sale which might yield new 99-year leasehold properties in the future. Since the Government Land Sales Programmes (GLS) is planning to reduce the number of plots going up for sale, bidding for this prime site was keen, with 14 bidders going in with the highest coming from Evia Real Estate and their partners, Maxdin and Gamuda at $345.86 million. Selling prices of the new property is expected to range between $1,450 psf and $1,550 psf.
Just like Jurong and Lakeside, developers are expecting pent-up demand for private condominium apartments in Toa Payoh to work in their favour. The newest launch here, which has been for sometime now, is Trevista.
Another popular site which went up for sale under the GLS programme is one at at the Sungei Pandan waterfront at West Coast. With the possibility of yielding up to 600 homes in an area near the Westgate and Jem shopping malls, the Science centre and the future high-speed rail terminal in Jurong East, this 99-year lease term site is expected to fetch $370 million at auction. Nearby properties such as Waterfront @ Faber, Infiniti and Hundred Trees, have all fared well with some having sold out.