Bukit Sembawang Estates' Luxus Hills opens for preview on Aug 30

Bukit Sembawang Estates' Luxus Hills opens for preview on Aug 30

Wed, Aug 28, 2019

CLAUDIA TAN

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All units in this 999-year leasehold landed development in Seletar Hills Estate have five bedrooms, a private lift, solar panels and charging points for electric cars.
PHOTO: BUKIT SEMBAWANG ESTATES

PROPERTY developer Bukit Sembawang Estates has released 32 out of the 78 units of the current phase of Luxus Hills for sale.

The public preview for the homes in this 999-year leasehold landed development begins on Friday. Seven units have been sold so far.

The developer has priced these four-storey, five-bedroom houses from S$3.058 million to S$4.2 million. The base per-square-foot (psf) price is around S$1,894.

Located in Seletar Hills Estate, Luxus Hills comprises 58 intermediate terraces, 10 corner terraces and 10 semi-detached homes.

The intermediate terraces are between 3,757 and 3,810 square feet (sq ft) in size; the corner terraces are from 3,541 to 3,671 sq ft, and the semi-detached units, from 3,541 to 3,671 sq ft.

Jenny Ho, marketing general manager of Bukit Sembawang Estates, said in a statement: "Landed homes are becoming increasingly rare in land-scarce Singapore, accounting for just 5 per cent of Singapore's housing stock.

"We expect this phase of sales to be very well-received by potential home-buyers looking to invest in a timeless, high-quality landed property for themselves and their future generations."

The developer expects the majority of buyers to be purchasing these homes for their own occupancy, but says the flexible deferred-payment schemes could also attract investors, said Ms Ho.

Among the several payment plans is the Stay & Pay Scheme, under which buyers can move in upon making a 20 per cent down payment. The Reservation Scheme accepts reservations with a 10 per cent deposit, with the rest of the payments to be made in 2021.

These schemes are designed for buyers who are waiting for the proceeds from the sale of their property, and owners of properties undergoing en bloc sales, a Bukit Sembawang Estates spokesman told The Business Times.

All units have a private lift and "green home" features such as solar panels and charging points for electric cars.

The development is near the Greenwich V and Nex shopping malls, as well as schools.

Lee Nai Jia, head of research at Knight Frank Singapore, said there is demand for such property because a 999-year lease is "more or less like freehold".

He also said that sales would not be as brisk as with condominium units, but that it would be "consistent" despite the bigger price tag.

ERA Realty's head of research and consultancy Nicholas Mak echoed the sentiment: "Launches for landed homes are few compared to condos, so it's a rare opportunity for those looking to buy brand-new landed homes."

Bukit Sembawang Estates is expecting to offer another 39 Luxus Hills homes for sale next year.