The Government is freeing up two sites for long-stay serviced apartments, located at Upper Thomson Road and Zion Road.
These serviced apartments will be available for long-term rental of at least three months.
The Urban Redevelopment Authority (URA) said on Monday (4 Dec) that up to 535 long-stay Serviced Apartments will be available between the two sites.
Though there are no details about the rental prices, the Government has released these sites to meet the demand for long-term rental here.
Examples include those waiting for renovations or constructions of their homes, or those who are here to work or study.
On 4 Dec, URA said it has released four residential sites at Upper Thomson Road (Parcels A & B) and Zion Road (Parcels A & B) for sale under the second half 2023 (2H2023) Government Land Sales (GLS) Programme.
Both Upper Thomson Road (Parcel A) and Zion Road (Parcel A) have allocations for serviced apartments, combining for around 535 units.
Also included are 1,275 conventional residential units, URA added.
“Both sites are located near existing MRT stations and will provide residents with easy access to the city centre, employment nodes, and various amenities,” the authority said.
The press release explained that various groups are looking to rent, even though house ownership aspirations “remain strong” among Singaporeans.
These include younger Singaporeans who may choose to rent as a start.
Other groups include:
“While Serviced Apartments partially cater to this demand, potential tenants who need to rent Serviced Apartments for longer durations would have to compete with those seeking shorter stays, including tourists and business travellers,” URA noted.
As such, there have been extensive consultations on providing options to cater to such longer-term housing needs.
The hope is that these rental houses will help alleviate demand for conventional rental housing, so different needs can be met.
The wish is also to help ensure a healthy rental supply.
The Upper Thomson Road (Parcel A) site is close to the Thomson-East Coast Line (TEL) Springleaf MRT station.
The location is also close to the Seletar Expressway (SLE), Sembawang Road, and Upper Thomson Road.
Meanwhile, the site at Zion Road will be located near Havelock and Great World MRT stations on the Thomson-East Coast Line (TEL).
Full details are as follows:
Currently, there are no details on potential prices. However, the locations may suit groups that may otherwise have to compete in the rental market.
Tenders for the development of the respective sites are now open, with the ones for Upper Thomson Road (Parcel B) and Zion Road (Parcel A) closing at 12pm on 4 April 2024. The one for Upper Thomson Road (Parcel A) will close on 19 June 2024.
Meanwhile, the Zion Road (Parcel B) site is open for application but not for tender yet.
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Featured image adapted from Urban Redevelopment Authority.
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