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Get the Guru View: Bidadari — From graveyard to hot property
Alkaff Vista, one of the new BTO projects in Bidadari. Source: HDB
Despite a flurry of protests over the redevelopment of former cemetery Bidadari, plans have continued rolling forward. Demand for the newly released BTOs currently exceed supply, with plans for the estate’s future an indication of the area’s potential.
By Chang Hui Chew
With such a remarkable scarcity of land in Singapore, not even the dead are spared from the encroachment of new housing towers that become the homes for our ever increasing population. Since 2001, Bidadari’s graves have been exhumed and emptied, with the remains moved to other grounds, or cremated and interred.
Bidadari is not the first graveyard to be cleared of the resting deceased to make room for the living, nor will it be the last. Nearby Bishan was once also the resting grounds for many of Singapore’s past pioneers, and is now a 30-year old mature estate, with a housing market known more for million dollar HDB flats than its sepulchral history.
Bidadari’s conversion from nature reserve and cemetery to new housing development projects has been controversial, with many opponents of the redevelopment mourning the further destruction of Singapore’s natural green spaces. This pocket of greenery amidst the urban jungle of Singapore was a destination for birdwatchers as a habitat for species such as white-breasted waterhens and spotted wood-owls.
Bidadari was also the burial site for many of Singapore’s early luminaries, including philanthropist Dr Lim Boon Keng as well as unionist Ahmad Ibrahim. Some victims of the 1954 plane crash at the old Kallang Airport were also buried at Bidadari. Many have questioned the need to steamroll over the artefacts of Singapore’s history for the sake of expedience and progress.
BTO boom
Despite protests however, the wheels of our state machinery have not ceased their turning, and the transformation from cemetery to new homes is well underway.
Bidadari’s Build-To-Order (BTO) flats first hit the market in November 2015’s bumper crop, then subsequently in February 2016’s BTO exercise as well. (Refer to Figures 1 and 2 for the prices and sizes of these new BTOs).
February’s BTO exercise was remarkable, with second-time buyers oversubscribing to the five-room and third-generation (3Gen) units by more than 75 times. This implies that for each of the units made available by the Housing and Development Board (HDB), there were at least 75 applicants.
The draw of these BTOs is likely due to the city fringe location, with its short travel times to Nex and Serangoon Central, for a quick transfer to the Circle line on the MRT system. Bidadari itself is served by Woodleigh MRT station on the North-East line, and is less than 15 minutes away from Dhoby Gaut interchange as well. When the entire Bidadari estate is complete, part of it will also have direct access to Bartley MRT station as well.
Adjacent to Bidadari is the older estate of Potong Pasir. Despite being a mature estate with iconic architecture in its sloped roof HDB blocks, the area has only recently begun to see HDB upgrading works. As a result, prices in Potong Pasir remain depressed compared to the rest of Toa Payoh, the estate it belongs to, with median psf costs at $457 for the second quarter of 2016 (see Figure 3).
While psf prices might be comparable between Potong Pasir and Bidadari, the costs of the new BTOs are likely to be lower, due to the smaller sizes leading to a smaller quantum. Furthermore, some of the older flats in Potong Pasir were completed in 1984 and have crossed the 30-year-old threshold. Given the age of Potong Pasir’s flats, it might be more expensive for those seeking to purchase these older resale units, depending on the buyers’ respective ages, as they will find the amount they can use from their CPF reduced.
Bidadari’s new BTOs clearly have a strong value proposition, especially in the context of their nearby comparables. Furthermore, HDB’s planners have designed even more conveniences and amenities for these new BTOs, including supermarkets, tracts of green spaces, childcare centres and coffee shops. Three of the new blocks in the BTO project Alkaff Lakeview will also front the new manmade Alkaff Lake and Bidadari Park.
Given this, we expect these new BTOs in Bidadari to see really decent appreciation by the time their Minimum Occupation Period (MOP) is complete. Given their frontage on greenspaces and proximity to public transportation, it would not be out of the question if the larger units in these new BTOs approach the million-dollar mark.
Green potential
The state has also put in several long-term plans for Bidadari that support a strong appreciation of prices in the future.
Perhaps in a bid to replace the greenery that was lost in the redevelopment of the estate, state urban planners have designed the upcoming Bidadari Park to be about 10 hectares in size. Mature local trees will be retained and kept at Bidadari Park, while the new Alkaff Lake will be part of a stormwater retention system to mitigate flooding in the area.
To preserve the historical value of the area, the existing Bidadari Memorial Garden will be integrated into Bidadari Park. Parts of the estate along Upper Aljunied Road will also be converted into a Heritage Walk for pedestrians.
In line with overall plans for Singaporeans to move to a car-lite future, Bidadari is also planned to be pedestrian and cyclist friendly.
Aside from the existing Woodleigh MRT, a semi-basement bus interchange will also be built at Bidadari. This bus interchange is likely to see a good degree of traffic, given that Potong Pasir does not have an existing interchange, and this new node might need to serve both estates. It will likely be part of an upcoming development next to the MRT station, envisioned as a Market Square.
A strip of land fronting Bartley Road has also been zoned for education under the MasterPlan, and is going to be the site of a Primary and Secondary school. This will add to the education options already in the area, including Cedar Girls Primary and Secondary, the Saint Andrews Village as well as Stamford American International School.
Applying pressure
Those with an eye on private property in the area should keep their eye on this plot of land next to Woodleigh MRT. Currently scheduled to be released for sale in December of this year under the Government Land Sales (GLS) programme, it is zoned mixed commercial and residential with a gross plot ratio (GPR) of 3.5. This site is estimated to yield 825 housing units and 15,000 square metres of gross floor area (GFA) for the retail component. PropertyGuru understands that several developers are eyeing this plum site eagerly, with a number looking to make offers for
this site.
The release of this site, given its prime location, is likely to put pricing pressures on the developments just down the road at Potong Pasir as well. It is foreseeable that the developers behind these units will seek to clear their remaining units as quickly as possible, before the project to be built on the Bidadari site hits the market.
Out of these, Sennett Residence and Sant Ritz will soon see construction complete, if not already, and both have a handful of units left. At time of writing, the mixed development Poiz Residences and Shoppes, launched within the last year, has seen decent sales despite current market conditions, and has sold over 554 units out of the 570 units launched, according to developer reported sales figures from the Urban Redevelopment Authority (URA).
Haunting doubts
Despite these plans, residents who are a little fainter of heart might still balk at the idea of living in an area that was once a cemetery.
More than a third of respondents in PropertyGuru’s Sentiment Survey indicated that a key reason for them to walk away from a property purchase was proximity to cemetery grounds. Bidadari estate is not only the former premise of a cemetery, it is also the site of Mount Vernon Columbarium. For those squeamish about such issues, it will be scant comfort to learn that interred remains are in the process of being moved to other sites, in preparation for the site’s future redevelopment.
This article was first published in the print version PropertyGuru News & Views. Download PDFs of full print issues or read more stories now! | |||
