East

Properties in the East

Singapore Districts

District 15 – Living near the Sea

District 15 is historical with places like nostalgic areas of Amber Road, Joo Chiat, Katong, Marine Parade and Tanjong Rhu being the landmark survivors of World War II. It has become a tourist centre with some building having an historic significance.

A market overview to provide some context

Singapore has been experiencing rise and fall in the price of property. This has been found to be due to Global Economic problem which stricken sometimes ago and the government intervention respectively. The Global Financial Crisis collapsed the property market in Singapore in 2009 after which Government intervenes to boost the market. The government intervention further led to increase the price arbitrarily which called for an immediate cooling effect by the government in 2013. The cooling effect exists till now.

District 15 is currently a centre of attraction to prospective buyers. This is typically evident from the volume of transaction over the past six months. District 15 and District 10 has been found to be leading in transaction with District 15 edging out District 10 by about 20%, in both 2015 and 2016. Nevertheless, the rate of transaction in the past was even higher than what we have in 2015 and 2016. However, the rate of transaction in District 15 was lower than that of District 10.

Do property types matter within District 15? 

District 15 is historical with places like nostalgic areas of Amber Road, Joo Chiat, Katong, Marine Parade and Tanjong Rhu being the landmark survivors of World War II. It has become a tourist centre with some building having an historic significance.

The analysis shows that the private properties remains volatile as the prices of HDB’s in D15 is about $585 psf on the average and seems to be stable. There is instability in the price of landed property as it moved from $1000psf in January to $1633 in August. This mark the highest price that landed property has reached in the past 10 years which an encouragement for the district sellers. Moreover, non-landed residential property prices are hovering within the $1200-1400 range with ups and downs throughout the year.

There is a steady and consistent increase in the number of rental contracts over the past three years within District 15. This record of 6 months period shows that we are having an increase in the demand of rent in District 15 and is a good news that promotes rental properties in the area.

This growth is further established by comparing the rental volume with that of other districts across the country. For three months, District 15 has been having the highest rental volume outside of the core central region according to the graph above. Historically, District 10 has commanded the highest rental property followed by District 15. D10 commands rental prices of about $3.6psf and D15 commands about $3.05psf per month in Singapore.

Changi Business Park – Banks and IT commercial

Changi Business Park is a financial hub located at Changi South, eastern part of Singapore. It is launched in 1977 by JTC Corporation to host a good mixture of business companies and enterprises dealing with software and date, knowledge intensive facilities, high technology business and research and development institutes.

Studies have shown that Changi Business Park will continue to be developed according to market demands due to the nearby development like the creation of the the Singapore University of Technology and Design (SUTD) and the Singapore Expo. Singapore Expo has been projected to provide companies with the opportunity to be in collaboration with the university. Also, the opportunity to hold meetings, incentives, conferences and exhibitions (MICE) industries.

Change Business packs possesses a wide area of land of about 71.07 hectare located within close proximity to the Aviation Distri-Zone, Logistics Facilities, The Expo and Changi Airport. This location supports the growth of companies and their facilities because it makes a bonus point as it is cost saving for companies to have easy access to transportation and logistics facilities. Change Business pack also host a variety of major leading companies like Citibank, Standard Chartered Bank, Credit Suisse, DBS Bank, Ultro Technology, Xilinix, Invensys, IBM and Honeywell. In addition to the fantastic companies, it hosts the Changi City Point Mall that provides recreational, dining and shopping options for people working here.

The companies are having an option to opt for a revisable land rental payment scheme or an upfront Premium payment scheme. The lease tenure is usually 30 years

Tampines

Tampines is known for retail and leisure activities in the east. This important nature projects the growth of new housing, shopping facilities, more parkland and other amenities at Tampines North in the coming years as it attracts many visitors for tourism. To offer visitors basic comfort, the transport system would be augmented. The likely improvement includes the railway lines like the Downtown Line that will offer residents and visitors shorter, more comfortable and convenient commutes.

Tampines Town Hub has been noted to become the first Singapore lifestyle hub in the heartlands, bringing retail, sporting and other community together thereby improving the quality of life ans social interaction between the residents. As part of the development plan of the Tampine, Tampine North will provide about 21,000 new homes for the Singaporeans when it is fully developed. Good transport system will not be excluded in the Tampine North to ensure a highly liveable and well-connected living environment for residents. Other future development includes:

  • Expansion of Changi General Hospital
  • A new Integrated Transport Hub (ITH) with MRT and bus interchanges co-located with residential and commercial uses after the completion of the Downtown Line at Tampines Town Centre
  • New amenities to complement new homes in Tampines North

Economy: Quality jobs closer to home

he advantages of the new development in Tampines will increase job creation at the doorstep of the residents. This will be achieved by the increase in the industrial sites within Tampines North along Tampines Avenue 10 and next to IKEA, Giant and Courts. By so doing, more employments awaits the resident coupled with educational opportunity from the continued development of Changi Business Park and the Singapore University of Technology and Design (SUTD)