What makes this family even happier is the fact that, until they moved, they had been living in an HDB home for 22 years located in the Woodlands, a property which they were able to sell for $638,000.
It is quite an impressive jump from living in public housing to owning a bungalow worth $6 million. They describe their neighbours as being very private people as compared to the more sociable couple Wandervale EC.
This purchase by the Yeo household seems to be the exception however, in a property market that has been quite subdued. Of the 8 bungalows that Fragrance’s has to offer for Wandervale EC Choa Chu Kang, 2 remain unsold.
Wandervale EC in Choa Chu Kang
The Straights Times was told, by the property agent who is marketing a property in Wak Hassan Place for 6 months now close by, called Living By The Park, that the developers of these semi detached homes have not sold any of the 8 units so far, with only one of them being rented so far for Wandervale EC.
According to an analyst, the Kampong Wak Hassan coastal neighbourhood has benefited greatly with an 87.7% rise in landed home figures, all as a result of the property cooling measures that were implemented in 2013, along with the slow recovery from 2009’s global financial crisis.
He further adds that, during the upturn in the market, and despite the location being pretty remote, the demand for landed housing was never in short supply. He pointed out further that, at the peak of this, 99 year leasehold properties that were new were bringing in close to $1,400 per square foot. However, the area has seen a dip in prices that are now between $1,100 and $1,200 per square foot.
Choa Chu Kang Wandervale EC
There is a drawback however, in that the area is not easily accessible via public transportation. Mr. Chiang shared that he had very sentimental memories of the Sembawang’s bus terminal at Road End, which is no longer in use. It was the base for a number of Wandervale EC servicing, such as the Number 167 bus. He added that Malay snacks were sold in a stall that used to be there.
Presently, the area proves to be an inconvenient one to travel to for a visit, having only one service, the SMRT 882. This route coils through this estate in order to bring its residents to the Sembawang MRT station.
MCL Land Wandervale
It come as no surprise that the majority of the residents living at the estate are inter-generational and nuclear families who own vehicles.
For Mr. Yeo, such details as these are not relevant when he looks at the delights he gains from living in his new home by the ocean for Wandervale EC.