Tag Archives: thomson-east coast line

$720K for a freehold property in Katong. Also for rent at $2.9K

Katong is the evergreen residential estate in Singapore. Mountbatten Suites is a low-rise development near the eateries of Katong. Minutes drive to CBD, Orchard Road and Airport, 441 sqft. Vacant now. Great investment choice in D15. Asking only $720K. Now with the announcement of the TEL line, the potential in the area is tremendous. The nearest station is at nearby Amber Road. Also for rent at $2.9K

Call 94772121 for more details.

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http://www.propertyguru.com.sg/listing/14693040/for-sale-mountbatten-suites

New TEL MRT Line may perk up home sales

The upcoming Thomson-East Coast Line (TEL) will ease transport woes for many thousands of commuters and help send home prices north, consultants said.

The 13km stretch could transform the area’s prospects overnight by bringing the central business district and other parts of the island within striking distance.

“For a long time, residents in the East Coast have been relying on buses or private transport,” noted OrangeTee research head Christine Li in a report yesterday.

“With better accessibility, existing and future properties in the area will benefit positively in the long run.”

The line is set to pass through Tanjong Rhu, Katong Park, Amber, Marine Parade, Marine Terrace, Siglap, Bayshore, Bedok South and Sungei Bedok, according to a Land Transport Authority announcement last week.

It will significantly cut travelling time to the central city and the northern part of Singapore.

A resident going from Marine Parade to Shenton Way will halve his journey time from 40 to 20 minutes, for example.

Colliers International research and advisory director Chia Siew Chuin said private residential areas from Tanjong Rhu through to Marine Parade and the boutique developments in Siglap and Bayshore will enjoy the most accessibility as they do not have MRT access now.

“Moving further east to Bedok South, the impact could be less, as residents there have had some access to the Bedok and Tanah Merah MRT stations,” she added.

Ms Li said 99-year leasehold condominiums such as Casuarina Cove, Tanjong Ria Condominium and Water Place in Tanjong Rhu could be among the winners, while the freehold Meyer Residence and The Belvedere in Katong Park are near enough to benefit as well. At Amber Road, projects that may enjoy some lift are mostly small to medium-sized freehold apartments like Aalto, Amber Point and King’s Mansion, she added.

Condominiums at Marine Parade like Cote D’Azur, The Palladium and The Seaview could enjoy price gains as could projects in Siglap and Bayshore such as Lagoon View, Laguna Park, Elliot at the East Coast, Bayshore Park, The Bayshore and Costa Del Sol.

Median prices of non-landed properties near the stations ranges from $905 at Sungei Bedok to $1,547 at Katong Park, noted SLP International research head Nicholas Mak.

He estimated that some property owners may increase their asking prices by 5 to 10 per cent over the next few months – as seen when the stations were announced for the North-East Line (NEL).

“People just wanted to capitalise on the news and they knew that their property would eventually appreciate. Granted, that was when the market was more buoyant,” Mr Mak added.

But the full benefits would only be reaped when the line nears completion, he added, suggesting that the sweet spot would be a 24-month period, one year before and one after the service gets going. Mr Mak, who based his estimates on when the NEL came into operation, believes there could be a 10 to 12 per cent rise in prices over that two-year period.

Some upcoming projects in the area include CapitaLand’s 124-unit Marine Blue at Marine Parade Road, which has not yet been launched, and 109-unit Amber Skye at Amber Road, said R’ST Research director Ong Kah Seng.

Amber Skye, a joint venture between China Sonangol Land and OKP Land, had launched 28 units as at the end of last month, with five selling.

Mr Ong said the MRT stations would help sales move faster but would probably not result in developers raising their selling prices.

“If developers peg prices competitively to attract buyers, especially investors, project sales will move faster. A convenient location will make it easier for investors or landlords to rent out their property.”

But should the total debt servicing ratio (TDSR) framework stick around, projects priced at $1,400 to $2,000 psf would not have much interest as that is the price range where buyers still need a loan – a far harder task these days, he added.

– See more at: http://business.asiaone.com/news/new-mrt-line-may-perk-home-sales#sthash.OtFYODEH.dpuf

Better Compensation for land-owners affected by Thomson-East Coast Line development

http://www.channelnewsasia.com/news/singapore/better-compensation-for/1315250.html?cid=FBSG

Some property owners affected by land acquisition from the development of the Thomson-East Coast Line can expect better compensation. Property analysts say this is because of recent changes to the Land Acquisition Act.

Amendments passed in Parliament last week (Aug 5), saw the removal of the “betterment levy” – a fee imposed on the compensation a land owner gets. This fee is equivalent to the rise in value of the area around the acquired land as a result of developments.

Six landed properties along Amber Road, and a three-storey apartment along Tanjong Katong Road will be acquired by the Government, to make way for construction of the eastern part of the Thomson-East Coast Line.

The Singapore Land Authority (SLA) says all efforts have been made to minimise land acquisition. SLA’s Land Sales and Acquisition Director Thong Wai Lin: “So far we are acquiring only for the Thomson-East Coast Line this portion of the eastern region line we’re acquiring 24,136.4 sq m, the bulk of it is from Laguna Golf and Country Club. So, about 6,480 sq m are from the residential, and industrial properties, and we’re only affecting 15 residential properties, nine strata units, and six landed properties.”

Laguna Golf and Country Club says authorities started engaging them about the acquisition since April this year. The Club says none of the holes are affected, and believes the new MRT Line will be a boost for members, guests and staff.

Affected residents have been served notices by the Singapore Land Authority. Many say the notice came as a surprise. One affected landowner, Mr Sim, told us he was “heartbroken”: “I spent the last 50 years on this business and now they ask you to move, you have to do so.”

Property analysts expect affected owners to be well compensated. Said Mr Desmond Sim, Head of Research at CBRE Research: “The thing about land acquisition is that the new law that has been passed, is that it allows land acquisition to be on full market value. They have disregarded the reduction of the betterment value. So I think those people affected by this land acquisition will be better compensated going forward.”

Next month, the Singapore Land Authority will meet with affected land owners on the submission of claims. They will know the compensation award in six months.

Eastern Region Line finally announced — Thomson East Coast Line

http://www.channelnewsasia.com/news/singapore/thomson-east-coast-line/1313898.html

Singapore’s sixth rail line will start at Woodlands before heading towards the East Coast, and will have 31 stations spanning about 43km, Transport Minister Lui Tuck Yew announces. New stations include Marine Parade, Siglap and Tanjong Rhu.

The country’s sixth rail line – the Thomson-East Coast Line (TEL) – will be fully operational by 2024, the Land Transport Authority announced on Friday (Aug 15).

The previously-announced Eastern Region Line and the Thomson Line will be joined to form the single, continuous line, which will span about 43 kilometres with a total of 31 stations, seven of which will be interchanges.

Transport Minister Lui Tuck Yew, speaking at a visit to the soon-to-open Marina South Pier Station on Friday, said that when fully operational in 2024, the TEL will serve about 500,000 commuters daily. This could rise to 1 million passengers daily in the longer term.

FROM THE NORTH TO THE EAST

The line will provide direct connectivity for commuters in the north and the east of Singapore – starting at Woodlands and heading south through the Central Business District, then turning east at Gardens by the Bay station and travelling along a East Coast stretch that will be fully underground.

One of the nine stations on this stretch will serve as an interchange with Downtown Line 3 Extension (DTL3e) – a 2.2km line consisting of two stations, meant to improve accessibility to the Changi Business Park and Expo areas.

The East Coast stretch will also cover areas not currently served by the rail network such as Siglap, Marine Parade, Upper East Coast and Bedok South. Seven of the stations, from Tanjong Rhu to Bayshore, will be ready by 2023, while remainder of the line, as well as the DTL3e, will be completed the year after.

Also scheduled for completion in 2024 is a new 36-hectare depot, touted by the LTA as “the world’s first four-in-one train and bus depot”. The new structure will be able to house a total of 220 trains for the TEL, DTL and East West Line, as well as 550 buses.

To build the line, the Government will need to require six land properties along Amber Road and one three-storey apartment along Tanjong Katong Road, as well as nine partial lots elsewhere. The Singapore Land Authority on Friday gazetted the properties affected by acquisition, and said it would work closely with landowners throughout the process.

CONVENIENCE A CONSIDERATION

The LTA said that with the TEL, someone going from the East Coast to Orchard MRT station will have his travel time cut by half an hour, from 75 minutes to 45 minutes. A Republic Polytechnic student will be able to travel to Marine Parade in an hour, 20 minutes faster than the current bus ride would take.

Also, stations along the TEL will see longer underpasses of up to 400m long, as part of efforts to improve “first and last mile connectivity”, particularly for the elderly and children, the LTA said. Four of the stations along the East Coast stretch will also see Singapore’s first underground bicycle parks.

DTL3nTEL Eastern Region Line

http://app.lta.gov.sg/apps/news/page.aspx?c=2&id=3cc2e460-06ea-4245-a37f-df11b602ec7d