Whitley Heights Enbloc

Singapore: Whitley Heights is up for collective sale — the first property to be offered in Jan 2011.

The current condominium with be re-zoned for landed housing to build Whitley Residences, the site should attract substantial interest, according to analysts.
Credo Real Estate managing director Karamjit Singh said: "There are very few residential redevelopment sites available in the market place for them to get their hands on to build landed properties or mixed landed.
Mr Singh added that Whitley Heights is the largest freehold plot in Districts 9 to 11, sized at 130,165 square feet. He said it is the largest site put up for collective sale in more than three years.
Now that demand for landed property is rising due to supply constraints, analysts expect Whitley Heights to attract bids from mid-tier as well as major developers.
Prices for landed housing increased 20 per cent last year, outpacing the non-landed residential market.
International Property Advisors chief executive officer Ku Swee Yong said: "We've got a limited supply; right now, total stock in Singapore is just under 70,000 units.
"What's coming up in the next five years could be about three to four thousand units of new landed housing".
Whitley Heights is expected by analysts to attract bids ranging from S$185 million to S$210 million.
That means each of the owners gets to pocket a S$4 million if the sale goes through.
The New development after rezone will be Whitley Residences that feature about 60 units of landed housing. Accordingly to analyst, this project should gather much interest from potential buyers.
Going forward, analysts are bullish on the landed housing market.
They forecast that prices of landed housing will rise by eight to 10 per cent this year.

Featured Projects