Housing Board flats in Bidadari has raised interest among investors pretty fast. However, private homes in the growing residential land also attracts them as well. This results in the quick purchase from investors. Nevertheless, the original form of the neighborhood is burial grounds of the former Bidadari Cemetery.
Despite the trend, Government’s efforts to transform it into a housing estate will be a waste if this continues. According to analysts, in order to bring more convenience to the people, the development of upcoming mixed complex in the suburb is necessary.
Bidadari Homes popular among Buyers
Surrounding the area is the Sennett Estate, Bartley, Upper Serangoon and Mount Vernon roads.
The plan to develop the whole town has been made under Master Plan 2014. In the plan, it is expected to build around 10,000 public homes and 1,000 private homes by the second half of 2015.
It can be seen that apartments are selling well in the area. Qingjian Realty’s Nin Residence in Pheng Geck Avenue is a good example. There are 219 units at the 99-year leasehold project. The average price is about 1,218 per sq ft (psf). Also 702 units at City Developments’ (CDL) 99-year leasehold Bartley Residences are sold out with a median price of $1,246 psf.
Bidadari Homes are close to the City
However, those units were on market display before the total debt servicing ratio loan guidelines were introduced in June last year. When comparing the sale, it is less but buying activities are still happening. About 56 units were sold at CDL’s The Venue Residences in Tai Thong Crescent for a median price of $1,396 psf.
In addition to the sale, a complex of public housing and commercial site named Market Square will soon offer retail in the area.
According to Urban Redevelopment Authority data, the price for units at the 330-unit 8@Woodleigh switched around $1,200 psf to $1,400 psf. Meanwhile, the data also shows that resale prices of units at Woodsville 28 changed about $1,200 psf to $1,300 psf. However, rents still remain unchanged. For three- or four-bedroom units, the price range from $3.50 psf and $4 psf for newer projects like 8@Woodleigh and Blossoms@Woodleigh.
Meanwhile, waiting for the new complex, soft demand should be paid more attention which means the price will be slightly lower than previous built sites like Bishan and Toa Payoh. Some analysts say they saw the potential of gaining some profit from there