Property analysts expect the price of a four-room Housing Board Build-To-Order (BTO) flat in the Greater Southern Waterfront (GSW) to range from $600,000 to more than $700,000.
Three-room units at the Keppel Club site could be priced between $400,000 and $500,000, while five-room units are unlikely to be offered, as the price would be too steep, analysts said.
Around 6,000 HDB flats will be built at the 48ha site, with the first BTO project to be launched for sale within three years, National Development Minister Desmond Lee announced on Tuesday (April 12).
Ms Christine Sun, senior vice-president of research and analytics at real estate firm OrangeTee & Tie, said: “Prices may be higher, as we may need to take into account inflation, especially for projects that are launched a few years down the road.”
Mr Lee Sze Teck, senior director of research at Huttons Asia, said he expects the BTO flats to be heavily oversubscribed, with more than 10 applicants vying for each available unit.
He said: “There are not many public flats that offer unique waterfront living and are close to nature. The location is also very close to major employment nodes like the city centre, Mapletree Business City and one-north, offering residents an opportunity to live closer to work.”
The site is also close to Labrador Park and Telok Blangah MRT stations as well as VivoCity shopping mall, noted ERA Singapore head of research and consultancy Nicholas Mak.