According to the latest information, these brand-new housing units will feature modern floor-to-ceiling window designs, providing future residents with stunning sea and city views. It is reported that the prices for a four-bedroom unit are expected to fluctuate between 450,000 and 600,000 Singapore dollars.
The housing project in this area is categorized as a preferred location, meaning that buyers may need to reside there for at least ten years before being able to resell the property. However, this restriction hasn't deterred potential homebuyers' keen interest in the project.
Analysts point out that the Bayshore area's new public housing project benefits from its convenient location, being in close proximity to the subway station and schools, which is a highly attractive factor for many buyers. Additionally, the area's proximity to the East Coast Park serves as a significant advantage in attracting potential homeowners.
Despite not being situated in a prime location, experts note that the prices of the Bayshore area's new public housing units are relatively affordable. Senior Vice President of Research and Analysis at real estate firm OrangeTee, Sun Yanqing, remarked, "While it may not be in a prime location, it is still better positioned compared to previous launched Build-To-Order projects."
Apart from the geographical factor, pricing is also influenced by various factors such as the minimum occupancy period and subsidy rebates for the housing units.
Currently, the prices for a four-bedroom unit in the pre-launch public housing project, Bedok South Blossoms, in the Wisteria area range from around 448,000 to 587,000 Singapore dollars. According to Lee Sze Teck, Senior Director of Research at real estate brokerage firm Huttons, the prices for a four-bedroom pre-launch public housing unit in the Bayshore area are estimated to be between 450,000 and 600,000 Singapore dollars.
According to Mogul.sg's Chief Analyst, Michael Ang, the prices for a two-bedroom unit in the Bayshore area's new public housing project are expected to fall between 150,000 and 290,000 Singapore dollars, while the prices for a three-bedroom pre-launch public housing unit may range from 320,000 to 400,000 Singapore dollars.
The Housing and Development Board (HDB) stated in a release that the new facilities included in the Bayshore area's new public housing project will benefit both existing and new residents.
Mohan Sandrasegeran, Head of Research and Data Analysis at real estate firm Singapore Realtors Inc, believes that with the introduction of new recreational facilities, parks, and green spaces, the resale value of properties in the area is expected to rise.