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SG Michaels' Residences to launch 40 more houses

Property Here - Thursday, April 18, 2013

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By Nikki De Guzman:

40 more housing units will be launched at Michaels' Residences, a 99-year leasehold landed project in the Chestnut area along Upper Bukit Timah. Eight homes had earlier been released at the end of last year.

Developed by B+M Avenue, Michaels' Residences sits on a 12,893 sq m site and comprises 24 semi-detached, six semi-detached dual key and 10 bungalow homes.

The semi-detached houses are priced from S$3 million, while the bungalows start from S$4.82 million. The project is expected to obtain TOP by December 2016.

The property is designed by Singapore-based ONG&ONG.

Diego Molina, Director at ONG&ONG, said: “Another special feature of Michaels' Residences is its boundary-less concept. The addition of terraces, balconies or planter boxes to each bedroom helps to create an open and lofty atmosphere within the house. Furthermore, the absence of gates between neighbouring houses unifies the individual gardens into a continuous green space to be shared.”

Michaels’ Residences is within proximity to several good amenities such as malls, schools, parks and major expressways.

Meanwhile, research done by marketing agent DTZ revealed that landed properties also guarantee increased capital values.

“We foresee capital values of landed homes to continue rising over the short and medium term, and barring exceptional circumstances that adversely affect the market, this uptrend is likely to persist over the long term, thus making this class of properties a highly reliable store of value with great potential for capital appreciation. A confluence of factors including limited stock, small pipeline supply, low vacancy rate and sustained demand from relatively affluent upgraders of Generation X has made for a remarkably resilient landed property market,” said Margaret Thean, Executive Director of Residential at DTZ.

Image: Artist's impression of Michaels' Residences

 

Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg