Bidadari’s treasure trove
By Esther Hoon
/ The Edge Property |
Young couples’ 1 in 10 chance to own a piece of the central area
Bidadari means angel or fairy in Malay. The long-awaited Build-to-Order (BTO) exercise for Bidadari estate will commence in August this year and prices of its 4-room flats are likely to start from $380,000, based on discounted figure of comparable resale transactions in Potong Pasir. Located within walking distance from Potong Pasir and Woodleigh MRT stations with less than 10 minutes commuting time to Dhoby Ghaut MRT station along the Orchard Road shopping belt, eligible buyers have eagerly waited to try their luck since the plan was made public in 2013.
Drawing parallel from recent BTO exercises, the starting price of 4-room flats was approximately 20% to 30% below the average resale comparables. Meanwhile, the median price of resale flats near Potong Pasir MRT station in the past six months stood at $443,000 for a 93 sq m unit, before adjusting for age.
The first batch of BTO flats may be priced the lowest given the area is still relatively undeveloped. Successful applicants therefore stand to gain first-mover advantages. Subsequent BTO launches are likely to be priced higher as the Bidadari master plan begins to take shapes.
What chances should first-time applicants expect in securing a BTO flat in Bidadari? In 2014 and 2015, 4-room BTO flats in popular towns such as Clementi, Kallang / Whampoa, Geylang and Toa Payoh were about seven times oversubscribed among first-timers alone with prices starting from over $400,000. If the starting price for the first batch of Bidadari flats falls below $400,000, the subscription rate could hit more than eight times on the back of a pent-up demand for the area and the tapering of BTO supply this year.
Bidadari’s 5-room flats are likely to be priced from $480,000. In mature estates, 5-room flats tend to draw higher application rate due to their limited supply and future demand from upgraders. Notably, prices of 5-room flats in Potong Pasir have hit past $800,000 since 2013.
City fringe HDB prices more resilient
Coined as an extension of Toa Payoh, Bidadari joined the ranks of city fringe HDB towns in the likes of Bishan, Bukit Merah, Geylang, Kallang, Marine Parade and Queenstown. Except for Toa Payoh and Bukit Merah, prices in city fringe towns have shown high resiliency, falling by 4% to 6% in the current downmarket. On the other hand, the HDB Resale Price Index have trended down by 9.2% between 2Q2013’s peak and 1Q2015. Outlying suburbs such as Choa Chu Kang and Jurong West witnessed significant price decline of more than 15%.
Besides its city fringe locations, Bidadari is flanked by three MRT stations – Bartley, Woodleigh and Potong Pasir (See Map 1). It will consist of six neighbourhoods linked by parks and a network of pedestrian and cycling paths. The first batch of 2,150 new flats will be launched in the Alkaff Neighbourhood, which is served by Woodleigh MRT Station. Upcoming Park’s Edge and Bartley Heights Neighbourhoods are accessible via Bartley MRT station while Sennett Neighbourhood is located next to Potong Pasir MRT station. Last but not least, public housing in the Market Square neighbourhood will be integrated with a bus interchange and commercial facilities.
Soft programming key to successful Bidadari Park
The Bidadari master plan emphasises on community interactions and identity as evidenced by a line-up of public space including a Market Square, two community malls, a 10ha Bidadari Park and a heritage walk. Separately, a mixed-use development by MCC Land along Upper Serangoon Road/Meyappa Chettiar Road, near Potong Pasir MRT station, is expected to add over 50,000 sq ft of retail space to the area. Drawing on Bidadari’s rich heritage, historic relics and tombstones of prominent Singaporeans will be part of the 10ha Bidadari Park.
Soft programming is integral to successful parks and open spaces. There is no lack of examples around the world where vast green areas become a desolate and unutilised space, or even an unsafe place to be at. In urban planning, one measure of successful public places is the length and types of activities observed among visitors.
In Bidadari Park, this is partly realised through a network of pedestrian and cycling paths. Their traffic would act as safety surveillance for the vast park, at the same time promote healthy leisure activities among residents. Infrastructures to support cycling such as park connectors, cycling paths and ramps were thoughtfully integrated within the Bidadari master plan. First of its kind, at least one sheltered bicycle parking space will be built for every six flats in the estate.
Others include ergonomic details and elements that appeal to the five senses. In Battery Park City, for example, the authority called designers to create the ultimate public chairs that would withstand harsh weathers, exhibit industrial elements in-line with the park’s history and “delight while they invite”. For examples of the five senses stimulants, we need not look further than our very own parks and gardens. From urban planning perspectives, Satay by the Bay is more than just dining experience. It makes visitors associate the taste and smell with the place.
The new Alkaff Lake within the Bidadari Park presents opportunities for lifestyle activities such as F&B and recreations by the water. Bishan-Ang Mo Kio Park, for example, is home to Aramsa Spa, Canopy Garden Dining and GRUB.
This article appeared in The Edge Property Pullout of Issue 683 (June 29) of The Edge Singapore.
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