The north-east region has seen an unprecedented flurry of activity in its property landscape the past year. The astonishing number of successful en bloc transactions, Government Land Sales and new launch activity has been sufficient to make even seasoned property experts sit up and pay close attention.
Training the property spotlight on mature estate Hougang
The estate derived its moniker from a Hokkien and Teochew name meaning “river end”, alluding to its location at the back of Sungei Serangoon.
The vibrant neighbourhood bore witness to two successful collective sales transactions amounting to over $1 billion in the past year. In May 2017, the Oxley-led consortium comprising KSH Holdings, SLB Developments and Apricot Capital snagged Rio Casa, a former HUDC estate located at Hougang Avenue 7 for $575 million, or $706 per square foot per plot ratio (psf ppr).
Hot on its heels in October 2017, another former HUDC estate Florence Regency at Hougang Avenue 2 was acquired via private treaty by Chinese developer Logan Property (Singapore) to the tune of $629 million. This works out to a significantly higher psf ppr price of $842, for the plot of land located a six-minute drive away from Rio Casa.
Industry watchers are keenly awaiting the launch of Riverfront Residences, which sits on the Rio Casa site. It has been close to three years since a new project has been launched in Hougang. Set to come onto the market in mid June 2018, Riverfront Residences is well placed to have a first mover-advantage both in terms of pricing and timing in the Hougang property landscape.
Since its development began in 1977, Hougang has grown through the years to achieve a comfortable level of self-sufficiency. Shopping malls such as Hougang Mall, Heartland Mall and Hougang1 have upped their offerings in recent years and provided residents with varied enough choices so they do not have to travel all the way to town to get their shopping fix.
The opening of the North-East Line (NEL) has provided a convenient option for Hougang residents to get to other parts of Singapore.
There’s more to cheer about in the days to come with a further boost in the public transport infrastructure of Hougang. The Cross Island Line (CRL) – an important arterial MRT line in the making – is set to provide a faster commute between the east and west of Singapore. Residents in Hougang looking to connect to the east, west or central parts of Singapore can look forward to having substantial time shaved off their daily commute.
For residents who drive, the Kallang-Paya Lebar Expressway (KPE) has increased connectivity between the north-eastern neighbourhood to the Central Business District (CBD) and other parts of the country.
Facilities such as Hougang Sports Hall and green spaces such as Punggol Park provide residents with fitness and lifestyle options within the neighbourhood.
Foodies living in Hougang are spoilt for choice – be it Cheng Kee’s Beef Kway Teow and its good to the last drop beef stock or brunch haven Lola’s Cafe, makan mavens and food Instagrammers alike have more than enough options in Hougang to fill their lunch and dining calendars for the next month!
Riverfront Residences – where family and lifestyle take centre stage
Riverfront Residences offers a multitude of housing options from 1 to 5-bedroom units to strata terrace houses. Premium units for the 4 and 5 bedrooms comes with private lifts. The upside of living in an all-inclusive development such as Riverfront Residences is that the estate has been designed to take care of residents in more ways than one. In fact, residents can look forward to having 101 facilities at their doorstep to meet their every need.
Beyond offering full condo facilities, Riverfront Residences maximises the expansiveness of its land area and has three different themed clubhouses on-site. Looking for a quiet space to work or to finish up that school project? One of the clubhouses has been modelled after a conducive co-working environment where residents are inspired to produce their best work. For people who prefer leisure activities, there’s a two-storey clubhouse which boasts a dedicated KTV cum movie room, fully equipped gym and a grand dining room to throw stellar parties. Finally, for residents with Michelin star ambitions, the third clubhouse comes with a fully equipped kitchen for residents to showcase their culinary prowess.
Award-winning doyens ADDP Architects have seamlessly incorporated elements of its highly sought-after riverfront location into the development itself. These include three uniquely themed coves – the Botanic Cove, Resort Cove and Lifestyle Cove, and the extensive use of boardwalks in the common area. For some splashing good fun, the 50m Mangrove Pool and 75m River Pool provide residents with plenty of space to indulge in their favourite aquatic activity. Parents with young children can look forward to the 25m Kids Pool for their precious ones to frolic around in – bring on the flamingo floats and multi-hued beach balls! If privacy is the name of the game, three holiday-style pavilions with its own private pool affords peace and tranquility away from the madding crowd.
An inspired location beside Sungei Serangoon
As its name implies, Riverfront Residences is located just beside Sungei Serangoon and units have been designed to make the most of the sweeping river views. Picture this – leisurely strolls with people we hold nearest and dearest, little ones riding their bicycles and skate scooters with wind in their hair and happy smiles all around. Isn’t this a lifestyle most of us would want to come home to after a busy day at work? Meaningful time with family in a picturesque setting is something homeowners at Riverfront Residences can look forward to every day, with Sungei Serangoon just a few steps away.
Residents with a spirit of adventure and wanderlust can avail themselves to Riverfront Residences’ strategic position right next to the Serangoon Park Connector located in front of the development. The popular recreational corridor provides residents with a picturesque route directly to Punggol Park. The Serangoon Park Connector is also part of the larger North Eastern Riverine Loop which includes nature highlights such as the Lorong Halus wetland and the Punggol Promenade Nature Walk.
Some fengshui masters also recommend living next to a river, as the flowing waters of the river are akin to wealth flowing into your home!
Given how education is a top priority among most Singaporeans, Riverfront Residences is strategically located within 1km of notable primary schools such as CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School and Punggol Primary School.
For professionals who work in the CBD, work is just a 15 minutes’ drive away courtesy of the KPE.
The rejuvenation of the nearby commercial landscape
IT professionals can look forward the opening of the Punggol Digital District, the nation’s digital and innovation hub. Located just 10 minutes’ away by car from Riverfront Residences, the Punggol Digital District is expected to create 28,000 new jobs and boost employment opportunities in the north-eastern part of Singapore. With more jobs on the market, there will be a corresponding increase in demand for housing within close proximity to the Punggol Digital District.
The impending move of the Paya Lebar Airbase will further shape both the commercial and residential landscape in the north-eastern part of Singapore.
With all the planned infrastructural boosts and development of the digital landscape in the next few years, property buyers looking to purchase homes in the mature neighbourhood of Hougang are in good stead to ride the wave of increased connectivity and demand for homes.
Leverage on the first-mover advantage as the price of land across the island continues to increase with aggressive bidding and en bloc sales!
Get ready for the preview of Riverfront Residences this coming weekend on 23 June 2018! Visit the Riverfront Residences showflat located at Upper Serangoon Crescent opposite HDB Block 471B.
Prices start from:
- $578,000 for a 1-bedroom
- $648,000 for 1 + study
- $755,000 for a 2-bedroom unit
- $1,070,000 for a 3-bedroom layout
Visit the Riverfront Residences website for more details.
Presented by Oxley Holdings Limited