PropNex sees gold in new BTO flats at Yishun

With prices for Yishun Greenwalk units range from 20% cheaper for 5-room flats to 40% cheaper for the 3-room flats—as compared to HDB’s 3Q10 median resale prices for a Yishun—the real estate agency believes the BTO project will be a hit with first-timers and young couples.

The Yishun Greenwalk property boasts of 1,176 new 3-room, 4-room and 5-room Build-To-Order (BTO) flats.

“Yishun is no longer a quiet HDB estate,” PropNex corporate communications manager Adam Tan said, adding, “Yishun town has seen, and continues to see, developments that add to a more well-rounded lifestyle for the residents. These include a library, green spaces and educational institutions.”

Tan said that Yishun Greenwalk’s location near to so many schools that makes it ideal for young couples who are looking to start a family in the next few years. The close proximity of several town gardens and Yihsun Pond also offer these families manyopportunities to get close to nature and bond in the outdoors.

For entertainment, Northpoint Shopping Centre and a Golden Village are but minutes away, while families can also relax down the road at SAFRA Yishun.

According to Tan, “Many young couples do not own a car, so public transportation and connectivity will be very important to them. Yishun Greenwalk will be popular also because of its location within walking distance of Yishun MRT station.”

Tan expects first-time buyers and young couples to be the core market of the new property. “[The property] is very attractive for the younger, more cash-strapped families and buyers,” he said, adding, “One must also take into account the fact that when buying a unit at Yishun Greenwalk under the BTO scheme, the buyer need not pay Cash-Over-Valuation, which ranges between $30,000 and $33,000 for those flat types in Yishun, according to HDB’s 3Q10 results.”

Tan foresees the Yishun Greenwalk to be oversubscribed by about four times all told, with the more popular units being the 4-room and 5-room flats.