During the 1970s and 1980s, the government catered to the public demand for larger sized and fancy designed public housing as a housing option for middle-income citizen families by introducing HUDC flats on sprawling land parcels in HUDC estates. HUDC was a good scheme for people who could not afford private property but wanted something better (than public housing).
However, HDB decided to phase out the building of HUDC flats in 1987 as their demand declined and as land scarcity issues surfaced on our tiny Singapore island. There are therefore a total of 18 HUDC estates comprising 7,731 residential and 23 shop units by the time the government decided to stop building new HUDC estates in Singapore.
However, HDB decided to phase out the building of HUDC flats in 1987 as their demand declined and as land scarcity issues surfaced on our tiny Singapore island. There are therefore a total of 18 HUDC estates comprising 7,731 residential and 23 shop units by the time the government decided to stop building new HUDC estates in Singapore.
Timeline history of the HUDC journey by HDB in Singapore
From 1995, the government gradually privatised the HUDC estates to meet the rising aspirations of Singaporeans to own private properties and by March 2017, all 18 HUDC estates were privatised into private residential developments where the HUDC home owners have to form their own residents council and contribute to their own sinking and management funds to take care of their private estates.
Since the gradual privatisation of the HUDC estates from 1995 into private housing estates, thirteen out of eighteen of these private housing estates had been collectively sold to private developers through various enbloc exercises creating thousands of new millionaire households.
Since the gradual privatisation of the HUDC estates from 1995 into private housing estates, thirteen out of eighteen of these private housing estates had been collectively sold to private developers through various enbloc exercises creating thousands of new millionaire households.
below are HUDc estates that successfully enbloc
Strategically located in the prime area of District 10, d'Leedon was once Farrer Court HUDC estate
AMBERVILLE HUDC estate was snapped up in 2006 at the price of $183 million and became the first former HUDC estate to be sold collectively. Its price translates into $396 per square foot per plot ratio (psf ppr), after accounting for a development charge of about $35.2 million and a differential premium of $23.8 million to top up the lease from 71 years to 99 years. AMBERVILLE has been developed into a beautiful condo project called Silversea.
FARRER COURT HUDC estate was sold above the owners’ reserve price of $1.2 billion but below their asking price of $1.5 billion to CapitaLand at an awesome $1.34 billion for the sprawling Farrer Court estate in 2007. Owners at the 618-unit complex will get about $2.15 million each, depending on the size of their flats, which range from 1,453 to 1,615 square feet. FARRER COURT HUDC estate has now been transformed into a grand condo project called d'Leedon
FARRER COURT HUDC estate was sold above the owners’ reserve price of $1.2 billion but below their asking price of $1.5 billion to CapitaLand at an awesome $1.34 billion for the sprawling Farrer Court estate in 2007. Owners at the 618-unit complex will get about $2.15 million each, depending on the size of their flats, which range from 1,453 to 1,615 square feet. FARRER COURT HUDC estate has now been transformed into a grand condo project called d'Leedon
The Interlace, one of the largest, most ambitious condo project in Singapore was once Gillman Heights HUDC estate
GILLMAN HEIGHTS HUDC estate was acquired by CapitaLand for S$548 million in 2007. There are 607 apartments in GILLMAN HEIGHTS HUDC estate – about 1,700 and 1,950 square feet each, and one shop unit. Based on a S$363 per square foot per plot ratio, the residents will be compensated between S$880,000 to S$950,000 per unit. The amount is inclusive of a differential premium of S$90 million to top up the lease to 99 years & maximise the use of the plot ratio from the present 1.65 to 2.1. GILLMAN HEIGHTS HUDC estate is now the very beautifully unique condo development called The Interlace.
MINTON RISE HUDC estate was sold to Kheng Leong, a privately owned property group controlled by the family of banker Wee Cho Yaw for $209 million in 2007. Minton Rise has 342 apartments in total and owners of the privatised HUDC estate will receive about $611,000 on average. MINTON RISE HUDC estate is now a condo with amazingly beautiful facilities called The Minton.
WATERFRONT VIEW HUDC estate in 2006 was acquired by Far East Organization and Frasers Centrepoint's maiden joint venture, which bought the privatised former HUDC estate facing Bedok Reservoir, for $385 million. This price works out to a land price of $241 psf per plot ratio inclusive of an estimated $102.2 million payment to the state for lifting title restriction to enhance the site’s plot ratio, and upgrading the site’s lease to 99 years for this sprawling 809,037 sq ft site. Due to its huge land size, WATERFRONT VIEW HUDC estate is now divided into 4 condo developments: Waterfront Waves, Waterfront Gold, Waterfront Key and Waterfront Isle.
MINTON RISE HUDC estate was sold to Kheng Leong, a privately owned property group controlled by the family of banker Wee Cho Yaw for $209 million in 2007. Minton Rise has 342 apartments in total and owners of the privatised HUDC estate will receive about $611,000 on average. MINTON RISE HUDC estate is now a condo with amazingly beautiful facilities called The Minton.
WATERFRONT VIEW HUDC estate in 2006 was acquired by Far East Organization and Frasers Centrepoint's maiden joint venture, which bought the privatised former HUDC estate facing Bedok Reservoir, for $385 million. This price works out to a land price of $241 psf per plot ratio inclusive of an estimated $102.2 million payment to the state for lifting title restriction to enhance the site’s plot ratio, and upgrading the site’s lease to 99 years for this sprawling 809,037 sq ft site. Due to its huge land size, WATERFRONT VIEW HUDC estate is now divided into 4 condo developments: Waterfront Waves, Waterfront Gold, Waterfront Key and Waterfront Isle.
Shunfu Ville HUDC site will see the upcoming launch of a beautiful condo project called: Jade Scape
SHUNFU VILLE HUDC estate was sold for S$638 million in May 2016, marking the third largest en bloc by quantum in Singapore. Each owner of the 358-unit condo, which lies less than 200 metres from Marymount MRT Station, stands to get around S$1.78 million. The 358-unit project was first put on sale in September with an asking price of at least $688 million or $791 per sq ft (psf) per plot ratio. The tender closed last October with no formal bids but two letters of interest. It was relaunched for tender at the same price in late January. Shunfu Ville sits on a huge 408,927 sq ft land site with a plot ratio of 2.8.
A beautiful new condo development will be launched soon on this site called: Jade Scape. Register for the soft launch invite, updates and floorplans for Jade Scape here.
A beautiful new condo development will be launched soon on this site called: Jade Scape. Register for the soft launch invite, updates and floorplans for Jade Scape here.
The Tre Ver is a beautiful condo brought to you by UOL & UIC on the former Raintree Garden HUDC site
RAINTREE GARDENS HUDC estate in Potong Pasir was sold in Oct 2016 for $334.2 million, after more than five developers bid for the site. Many unit owners of the 175-unit privatised HUDC estate will walk away with about $1.9 million per unit after being sold to UVD (Projects), a joint venture of UOL Group and United Industrial Corporation. The price works out to about $797 per sq ft per plot ratio (psf ppr), including the premium paid to top up the lease to a fresh 99 years and for redevelopment of the site to a gross plot ratio of 2.8.
The location is near the very popular Bidadari estate and UVD is looking to develop the 201,405 sq ft site to house about 750 units. This HUDC site will be developed into an exciting project called: The Tre Ver, register for the soft launch invite, updates and floorplans here.
The location is near the very popular Bidadari estate and UVD is looking to develop the 201,405 sq ft site to house about 750 units. This HUDC site will be developed into an exciting project called: The Tre Ver, register for the soft launch invite, updates and floorplans here.
Riverfront Residences (Former Rio Casa) is an upcoming condo development by Oxley-Lian Beng Venture Pte Ltd
RIO CASA HUDC estate Rio Casa, a privatised HUDC estate, has been sold for S$575 million to a joint venture company Oxley-Lian Beng Venture. The JV partners are KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital. Rio Casa in Hougang Avenue 7 comprises seven blocks of 286 apartment and maisonette units. It has a site area of 36,811.1 square metres. Each owner stands to receive a gross sale price of about S$2 million upon the successful completion of the sale.
A new upcoming condo development will be launched soon called: Riverfront Residences. Register for the soft launch invite, updates and floorplans here.
A new upcoming condo development will be launched soon called: Riverfront Residences. Register for the soft launch invite, updates and floorplans here.
Affinity At Serangoon (Former HUDC Serangoon Ville) is a new condo along Serangoon North Avenue 1
Privatised HUDC estate Serangoon Ville in Serangoon North Avenue 1 has been sold to an Oxley Holdings-led consortium for $499 million in July 2017 well above the $400 million to $430 million the owners had been expecting. The buyer, joint venture firm Oxley Serangoon, comprises partners including Oxley Holdings, Lian Beng Group, Apricot Capital and entities of KSH Holdings and Heeton Holdings with the purchase price working out to a land rate of $835 per sq ft per plot ratio. Serangoon Ville comprises 244 apartments and maisonettes across seven blocks, with sizes ranging from 1,625 sq ft to 1,733 sq ft. Each owner will receive about $2 million from the sale.
The new condo development that will be built on this plot of land is called: Affinity at Serangoon. Register for the soft launch invite, updates and floorplans here.
The new condo development that will be built on this plot of land is called: Affinity at Serangoon. Register for the soft launch invite, updates and floorplans here.
The 702,164 sq ft site at Tampines Court HUDC could be turned into a project of about 2,000 units
TAMPINES COURT HUDC estate was successfully sold to property developer Sim Lian for a cool $970 million in Aug 2017 as the collective sale market here continues to sizzle. It is the largest such deal for a former Housing and Urban Development Company property in a decade since Farrer Court changed hands for $1.34 billion in 2007. The enbloc price for the 560-unit development, in Tampines Street 11, works out to about $676 per sq ft (psf) per plot ratio with each owner standing to gain about $1.71 million to $1.75 million. The 702,164 sq ft site could be turned into a project of about 2,000 to 2,100 new units - or as many as 2,600 units, if the site is stretched to its limits. You may follow this project's future developments here.
Hongkong Land's fully-owned unit MCL Land bought the Eunosville site at a price of S$765.78 million
Eunosville, a former HUDC estate, has 330 units - comprising 255 maisonettes and 75 apartments. It was sold in June 2017 to Hongkong Land's fully-owned unit MCL Land through a collective sale, at a price of S$765.78 million, working out to a land price of S$909 per square foot per plot ratio (psf ppr) inclusive of an estimated S$194 million payable to the state to enhance the intensity of the site to a gross plot ratio (ratio of maximum gross floor area to land area) of 2.8 and to top up the site's lease to 99 years. Owners stand to receive a gross sale price of about S$2.25 million to S$2.41 million per unit upon the successful completion of the sale. Eunosville will be developed into a beautiful condo project. Find out how this estate will be developed in future by registering your interest here.
Florence Regency finally closed a collective sale deal under private treaty after Chinese developer Logan Property (Singapore) agreed to match the independent valuation of $629 million for the property in Hougang Avenue 2 in Oct 2017. Each owner of the 336-unit former Housing and Urban Development Company (HUDC) estate will receive gross proceeds of between $1.84 million and $1.89 million.
The 389,236 sq ft site is zoned residential with a gross plot ratio of 2.8 and could yield around 1,000 units. The land price works out to $842 per sq ft (psf) per plot ratio (ppr) after factoring in the estimated differential premiums of $288.6 million to top up the lease to a fresh 99 years and develop the site to the gross plot ratio of 2.8.
Florence Regency is one of the last few privatised HUDC estates in the north-east region. The future development will enjoy unblocked views, located next to landed housing estates and across the Hougang Stadium and the sports and swimming complex. Find out how this estate will be developed in future by registering your interest here.
The 389,236 sq ft site is zoned residential with a gross plot ratio of 2.8 and could yield around 1,000 units. The land price works out to $842 per sq ft (psf) per plot ratio (ppr) after factoring in the estimated differential premiums of $288.6 million to top up the lease to a fresh 99 years and develop the site to the gross plot ratio of 2.8.
Florence Regency is one of the last few privatised HUDC estates in the north-east region. The future development will enjoy unblocked views, located next to landed housing estates and across the Hougang Stadium and the sports and swimming complex. Find out how this estate will be developed in future by registering your interest here.
CHANCERY COURT, a privatised HUDC estate with 136 residential and eight strata commercial units across the road from Anglo-Chinese School (Barker Road), has fetched $401.78 million - a highly sought-after development among parents who want to register their children into Anglo Chinese School, given that the ACS Barker Road campus is located just across the road. Upon successful conclusion of the collective sale following Strata Title Board approval, owners of the residential units can expect proceeds of $1.8 million to $3.5 million, while the owners of the strata commercial units will walk away with $934,000 to $4.7 million, depending their unit size. The Chancery Court HUDC estate will be developed into a new condo development. Find out how this estate will be developed in future by registering your interest here.
With the sale of Chancery Court, only five of 12 former HUDC estates remain for now - Ivory Heights, Pine Grove, Laguna Park, Braddell View and Lakeview. All five are in various stages of the collective sale process.
With the sale of Chancery Court, only five of 12 former HUDC estates remain for now - Ivory Heights, Pine Grove, Laguna Park, Braddell View and Lakeview. All five are in various stages of the collective sale process.
RSS Feed
