HUDC units were larger, better built, had fancier designs and were more expensive than their HDB counterparts. Some, at 158 sq m in size, were the biggest public housing flats ever built.
Today, HUDC's role has been largely superseded by other housing types such as the Design, Build and Sell Scheme (DBSS housing scheme has also been discontinued since 2011) and executive condominiums which also cater for the "sandwiched" class.
Out of all 18 former HUDC estates, only 7 of them are left remaining in Singapore today. The other 11 former HUDC estates were all bought over by developers thru enbloc and have been either marketed or sold as brand new residential condo projects.
Out of the list of 7 remaining former HUDC estates, real estate advisor Kiwi Lim from Huttons Asia identifies three of these former HUDC estates that he feel investors may want to seriously consider if they are looking for potential enbloc sites to invest in.
Singapore's largest private residential estate, Braddell View, was relaunched for enbloc collective sale again for a 2nd time in 2019 at S$2.08 billion potentially allowing owners of residential units to receive between S$2.04 million and S$4.03 million, depending on the size of their property. The units range between 1,453 sq ft and 3,369 sq ft. For commercial units, owners could receive about S$529,500 to S$1.2 million. Unfortunately, the enbloc attempt was not successful.
Braddell View estate situated on a hilltop site overlooking MacRitchie Reservoir Park, comprises 918 residential units and two shops. The plot has a lease tenure of about 102 years with effect from Feb 1, 1978 and is located near three MRT stations - Braddell on the North-South Line, as well as Marymount and Caldecott on the Circle Line. Future residents could also benefit from the proposed transformation of the nearby Bishan Sub-Regional Centre into a business hub under the Draft Master Plan 2019.
Located right beside Raffles Girls School (RGS) Secondary, Raffles Institution (JC) and Saint Joseph's Institution International and other good schools, within a short stroll to Circle Line MRT and upcoming Thomson East Coast Line, it is indeed a prime location for families.
Lakeview Estate is a beautiful former HUDC estate located right beside fresh green nature reserve of Macritchie Reservoir nestled in a landed estate within 6 minutes walk to Marymount MRT.
At an amazing size of nearly 243,000 sqft, this sprawling Lakeview Estate is a gem near Raffles Institution and nice eateries are dotted along Thomson Road.
The following developments are in the same neighborhood as Lakeview Estate:
- The Florence Residences
- Affinity At Serangoon
- Riverfront Residences
- La Fiesta
- Kingsford Waterbay
- Sengkang Grand Residences
This mammoth land site of more than 825,000 sqft of land parcel is super huge for a developer to swallow and it may take two or more developers to jointly bid for this project. Ivory Heights estate just held an EOGM on 20th March 2021 this year where the Subsidiary Proprietors (SPs) of Ivory Heights voted favourably to form a Collective Sale Committee (CSC) for the enbloc sale of Ivory Heights. So it may be too late for investors to enter this development now.
Being integrated with the Jurong East Central regional hub, Ivory Heights enjoys easy access to just about everything that is needed for one’s daily needs with numerous food courts and coffee shops offering the widest choice of both local and western fare. There are even 2 NTUC Fairprice outlets to pamper residents there.
Kiwi Lim said investors are taking a risk when they enter now to buy such old properties in these former HUDC estates or any private residential projects that are nearly 40 years old or more because enbloc collective sale is not certain and therefore if the enbloc collective sale attempt is not successful, the buyer / investor will be left holding onto an old apartment unit that may face water leaking issues or other problems associated with old buildings leading to higher maintenance costs, fees and lower rental yield & minimal capital appreciation.