Residential site at Bukit Batok West Avenue 5 opens for sale: HDB
The site has about 495 residential units.
A residential site at Bukit Batok West Avenue 5 was launched for sale via public tender under the first half of 2022 of the government land sales programme, HDB, said.
The site can yield about 495 residential units with a lease period of 99 years and will be open for potential buyers until 12 noon on 13 September 2022.
“The tender closing for this site will be batch closed together with two other URA residential sale sites at Lentor Central and Lentor Hills Road,” read the statement from HDB.
OrangeTee& Tie CEO Steven Tan said there could be a “healthy” demand for the Bukit Batok residential area following the lack of supply in the location.
“Moreover, more flats are slated to reach the minimum occupation period in the vicinity and there will be more upgraders looking for executive condominiums (ECs) in the area,” Tan said in a separate statement.
For Huttons Asia, with the launch of a residential site at Bukit Batok, there are already three sites that can offer up to 1,500 units for sale near the area. The two other sites are the EC site awarded to Qingjian and Santarli in March 2022 and another EC site at Tengah Garden Walk.
Those who will purchase EC units are not subjected to the December 2021 property cooling measures and wealth taxes, and can choose a deferred payment scheme.
Developers may also take into consideration “the supply in the area and hedge against risks,” Huttons Asia also noted.
But it still sees up to eight bidders for the Bukit Batok site, which will garner an estimated bid of between $640 and $680 psf ppr.