Gillman Barracks is being considered for residential use.
BTO application rate has decreased from a maximum of 5.8 BTOs per flat in the year 2020 to 2.9 BTOs per flat last. In 2023, the volume of private housing transactions fell by 13 percent from 2022 and reached its lowest point since 2016.
Along with plans to increase housing supply, government will activate and curate a network of recreational space across the island, incorporating sports and arts, nature and heritage, wellness and wellness. Recreational spaces will be linked by pedestrian and cycling paths as well park connectors.
Indranee, in response to a query from MP Nadia Ahmad Samdin of Ang Mo Kio GRC on the impact on marine life of the upcoming Long Island development project, said that environmental studies are going to consider marine habitats surrounding the project such as intertidal plains and coral colonies.
Long Island is the result of a government plan to reclaim 800 hectares near East Coast. Indranee says that the agencies will investigate nature-based options to minimise the impact of reclamation on the environment.
The BTO is located just a short distance from the Orto leisure park which has been relocated near Haw Par Villa to 27 West Coast Highway.
Nicholas Mak said that the last BTO in Yishun launched was in November of 2022. The response to the three Yishun projects released for sale was “lukewarm”, and 4,453 people applied for 2,994 of them.
Mak noted that the proximity of Chencharu to Khatib MRT Station could lead to a more positive response to the project.
On a longer-term basis, the government studies the possibility to introduce a new residential neighborhood at Gillman Barracks. This neighbourhood will include both private and public property.
Lee stated that Gillman Barracks had a rich history and was home to colonial-era military buildings. “Aside from providing Singaporeans with more opportunities to live close to the city center, the new residential neighborhood can build on character and charm of former colonial building.
The Minister added, “Residents can also enjoy easy access to recreational and green spaces such as the Southern Ridges and Labrador Nature Park Network.”
Gillman Barracks has been primarily designated “Reserve Site” in the Master Plan 2019. It is occupied currently by offices, restaurants, art galleries, and lifestyle spaces. Their leases will expire gradually by 2030.
Environmental and Heritage studies will begin in the second quarter 2024. They are expected to be completed by the first half 2026.
The demand for both public and private housing will be high if the Gillman Barracks are developed as housing.
Telok Blangah Beacon held its last BTO in Telok Blangah in May 2021. 175 units were sold, and 4,078 people applied, which is a 23.3 application rate.
The median price for condominium units that were transacted near Gillman Barracks during Q4 2023 ranged anywhere from S$1,576 to S$2,191, according to Christine Sun of OrangeTee Group, chief researcher and strategist.
Singapore’s central areas, including Pearl’s Hill, Mount Pleasant, Turf City, and the old Keppel Golf Club, are slated to receive new housing. The government is also releasing land for redevelopment. For example, through the relocation Paya Lebar Air Base.
In February, the government had launched over 67,000 HDB Flats. This represents two thirds of their commitment to launch 100 new flats before 2025.
The supply of private housing has also increased. Lee said that the Government Land Sales Programme (GLS) launched 9,250 housing units in 2023. This was the highest supply of annual housing in the last ten years. The H1-2024 confirmed list will provide an additional 5,450 private homes.
The market has moderated with HDB and residential rents rising less quickly in 2023. The quarterly rise in public housing rents was reduced to 0.4% by Q4 2023 from the previous 1.9%. Private housing rents also fell 2.1% in the final three months of the year 2023.
In the Chencharu region of Yishun a huge new housing estate with around 10,000 homes will be built. The first housing project to launch there is in June 2024.
The art enclave Gillman Barracks, which includes both public and privately owned housing, may become a residential neighborhood after 2030. This move is expected to create a robust demand for homes in this central area.
Desmond Lee, Minister of National Development, stated that at least 80 percent of the homes in Chencharu would be reserved for public housing on Tuesday (5 March) during a debate of the Committee of Supply of his ministry.
In June 2024 the first Build-to-Order (BTO), project will be launched at Chencharu. The 1,270 unit project will feature two-room flexi flats as well as three, four and five-room apartments. It will be located at Sembawang Road.
