Developed by the Singapore Improvement Trust in the 1950s and subsequently by the Housing and Development Board in the 1960s, Queenstown was the first satellite town to be built in the Singapore.

 

 

Today, Queenstown has become a modern and chic community filled with endless array of amenities such as IKEA, Anchorpoint, Queenstown Shopping Centre and Park Hotel a luxurious hotel with lush surrounding and its nature-inspired décor.

In light of the government’s Remaking Our Heartland (ROH) scheme, Dawson estate in Queenstown saw the rise of two swanky Build-To-Order (BTO) projects – SkyVille @ Dawson and SkyTerrace @ Dawson.

Taking on the “housing-in-a-park” concept, greenery hugs every corner of the two Dawson projects, while bits of history are scattered across the first satellite town by the HDB. To the untrained eye, it easy to mistaken SkyVille/SkyTerrace @ Dawson, which has three blocks designed by award-winning local firm Woha, as private apartments considering it’s edgy design which is out of the norm of typical HBD blocks.

 

 

Eugene Lim, Key Executive Officer at ERA Realty, attributed the higher price to a combination of design and location. Describing the Dawson flats as a “landmark HDB project” since they are within the first phase of the ROH scheme, Lim noted that Dawson is centrally located. As such, buyers enjoy a location premium on the flat.

5-room resale flat at Block 52 Strathmore sold for $955,000 in 2016. With a built-up area of 1,184 sq ft, the price translates to about $807 psf. 

This shows price margin between HDB & Private property are getting closer. The size of the 5-rm HDB is almost the same size as a 3-bedroom private property in the surrounding. With such a narrow margin, the property market in Queenstown do not look like it will go down anytime..

A private housing site in Margaret Drive attracted a strong response from developers, with the highest bid of S$238.39 million coming from MCL Land. 

   

“The top bid is quite bullish as it is 14.5% higher than the land price of the land parcel on which (the nearby) Queens Peak site was sold in June 2015 at S$871.14 psf, even though the subject site is further away from the MRT station. The top bid for the subject site was the second highest among all the submitted bids for the GLS residential sites since 2009,”  said Mr Nicholas Mak, Executive Director, Research & Consultancy Department at SLP International Property Consultant.

Estimated break-even price for the Margaret Drive’s site around $1600psf. Assuming developer target 10%-18% profit, that translate to $1760-$1888psf selling price. This is going to push up the price of surrounding properties including Commonwealth Towers and Queens Peak, prices from $14XXpsf only and located even closer to Queenstown MRT !!!

 

 

Yours Sincerely,

Eugene Koh from Lovelyhomes

[M] + 9040 5508

[E] [email protected]

 

 

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