How Is The Current Property Market Affecting Sales?
Affinity At Serangoon condo is a brand-new condo advancement along Serangoon North Avenue 1 by Oxley Holdings, including 1012 Apartments, 40 Systems of Strata Landed House along with 5 units of Business shops.
Affinity Serangoon Condo is the previous Serangoon Ville, a privatised HUDC estate that was offered to an Oxley-led Consortium through collective sale. The joint endeavor company, Oxley Serangoon, makes up strong partners, including Oxley Holdings, Lian Beng Group, Apricot Capital and entities of KSH Holdings and Heeton Holdings.
The purchase cost for Serangoon Ville at S$ 499 million exercises to a land rate of near S$ 835 per square foot per plot ratio (psf ppr), and this is lower than that of The Garden Homes at S$ 965 psf ppr, which is positioned on the next plot of land at Serangoon North Opportunity released under Government Land Sales.
The approximated break-even rate of Affinity Serangoon Singapore has to do with S$ 1,300 and for that reason Affinity At Serangoon Price (Affinity Serangoon Price) is costing approximately S$ 1,500 psf in the market now.
For households who are preparing to have children, or currently with kids, Affinity At Serangoon Singapore is sited in close proximity to lots of popular schools like Rosyth Primary School (within 1km), Zhonghua Primary School (within 1km), CHIJ Our Woman Of Great Counsel, Hougang Primary School, Monfort Junior School, Yio Chu Kang Main School, Nanyang Junior College and Saint Andrew Junior School, Xinhua Primary School, Xinmin Main School, Yangzheng Primary School.
Surrounding Affinity At Serangoon location consists of a variety of mall, such as NEX Shopping Center, Hougang 1 Shopping Mall, Hougang Green Shopping Mall, Heartland Shopping Mall, Midtown and Seletar Shopping center, which uses a lot of home entertainment, dining and shopping alternatives to the residents.
Affinity At Serangoon floor plan consists of 7 blocks that are 14-storey high with an overall of 1,012 units, and 2 blocks of 3 Floor strata-landed houses with basement and 1 block of 2 Floor strata-landed with basement, a total of 40 strata-landed houses. There are likewise 5 business stores on the very first floor to accommodate the local’s requirements. The condominium unit mix ranges from 1 bedroom to 4 bed room units and 5 bed room units are the strata landed real estate. Affinity At Serangoon layout is wonderful, and you can barely discover any new launch that has a nice and efficient layout like Affinity Serangoon floor plan can provide.
With the lack of federal government land sale, developers continued its pursuits of collective sales in order to replenish their land bank, and with that, we see persistently high purchase rate being paid to the owners for en bloc advancement. The scenario of high collective price continues up until the government brought out a cooling measure on Fifth July 2018 that increases the Extra Buyer’s Stamp Duty in worry that the residential or commercial property market will spiral out of control and crash. The Additional Purchaser’s Stamp Task was increased by 5% across the board and developers were struck hard, needing to pay 30% ABSD upfront for cumulative sale, and if they are unable to sell off the job in 5 years time, 25% of the ABSD will not be refunded. This impacts websites with big land size as developers may not be positive to sell all the units within 5 years, provided that ABSD for individual buyers has also been increased, therefore moistening sales. We must be seeing a stabilised home rate, and will be expecting a slow but steady growth with this cooling measure in hand.