Sunday, August 22, 2010

Three HUDC estates in Hougang, Potong Pasir designated for privatisation

SINGAPORE : The government has identified three HUDC estates for privatisation. 

The estates are located at Hougang North Neighbourhood 3, Hougang North Neighbourhood 7, and Potong Pasir. 

The Ministry of National Development (MND) said the three estates comprise a total of 797 of apartments and maisonettes. 

Real estate agents said the news could affect prices of these properties, which may rise 5 to 7 per cent. 

"With privatisation, everyone will be happy (because) the price will be higher if we intend to sell,' said Steven Tan. The HUDC estate at Hougang Avenue 7 which he's been living in has been put up for privatisation. 

Property agents said prices could inch up overnight. 

Recently transacted prices in the three estates range from S$620,000 to S$735,000. 

"I won't be surprise some will say if I were to sell you the unit, then I am giving up my opportunity to cash in more if this development go en bloc. We've heard of developments where once it is privatised, the prices there sometimes rocket by S$100,000," said Chris Koh, director of Dennis Wee Group. 

Industry players said the en bloc potential for these HUDC estates is good because they are located in mature estates with more developed infrastructure and amenities. 

The privatisation process could take up to two-and-a-half years. 

But it will need support from three quarters of the residents. 

Helen Lee, Protem Committee Member of Hougang Avenue 7 HUDC estate said: "The last time we did a survey in early 2009, more than 80 per cent of the residents were actually in favour of the privatisation. I think it shouldn't be a problem getting the 75 per cent vote." 

The residents of each estate will have to form a protem committee comprising resident representatives to act on their behalf. 

One stumbling block could be the privatisation cost, which include legal and survey cost, as well as cost of land transfer. 

The Ministry of National Development (MND) will cap the cost of privatisation at $30,000 per flat for the three newly-designated estates at Hougang and Potong Pasir. 

The MND said this is a concession to enable HUDC lessees to fulfil their aspirations to enhance their assets. 

The concession will also apply to the Serangoon North HUDC estate, which is in the process of obtaining support for privatisation. 

The capping of privatisation cost at $30,000 is only valid for three years, starting from 2 August 2010. 

Thereafter, MND said the cost of privatisation will be adjusted to take into consideration the prevailing redevelopment potential of the land. 

Observers said privatisation means flat owners will no longer be bound by some public housing rules like sub-letting, and they can sell or rent their homes to anyone. - CNA /ls

Shunfu Blk 316 HUDC Mais SOLD @ $950,000 within 1 Day!

Country: Singapore 
Blk.316 Shunfu Ville Maisonette
Private Apartment

Property Images (click on small images to view different areas of the property)


Property Address
Blk.316 Shunfu Ville Maisonette
Property Type
Private Apartment
Property District / Estate
D19 and 20 (Serangoon,Thomson)
Property Status
Asking Price
Valuation Price
Prices are in
Singapore Dollar (SGD)
No. of Bedrooms
3 rooms
Property Tenure
99 years
Built-In Area
Land Area
Property Age
21-30 years
Property Description
Shunfu Ville is a newly privatised HUDC. It is located at Shunfu Road, in between Marymount Road and Thomson Road. This project is ideally located very near to Marymount MRT Station (Circle Line- 250m). Shops and restaurants along Upper Thomson Road are within walking distance. Shopping malls like Thomson Plaza and Junction 8 are also nearby. This is a VERY RARE Ground Floor Maisonette unit now on sale! In fact, it’s the ONE AND ONLY ONE on sale now!! House condition is original. Serious seller. Selling fast! Grab now to avoid disappointment! Call 98444400 (Sherry) or 93833992 (Martin)

Shunfu HUDC - Transaction Price for the Past 1 Year




318 Shunfu Rd01 to 05155.00
1986$880,000.00Mar 2010
314 Shunfu Rd01 to 05154.00
1986$755,000.00Oct 2009
318 Shunfu Rd01 to 05155.00
1986$720,000.00Oct 2009
314 Shunfu Rd01 to 05161.00
1986$768,000.00Sep 2009
316 Shunfu Rd01 to 05156.00
1986$745,000.00Aug 2009
317 Shunfu Rd01 to 05154.00
1986$728,000.00Aug 2009

Source: HDB

Team Marshe
Martin Koh/ Sherry Tang
93833992/ 98444400