In comparison with suburban and city fringe homes, properties in the downtown area has been languid for awhile. But that looks set to change as the growing popularity of mixed-use developments return with a vengeance. There are a total of 4 mixed-used properties currently in the planning stage and that includes one which might claim the title of the new tallest building in Singapore.
These properties are:
Although these projects sound more like shopping malls and offices, which they will have, they will also include hotels and residential units. Their prime location will command high prices for these apartments, and developers are expecting most buyers to be foreigners or those looking for a worthy piece of investment property. But rental yields might also be considerable as these projects are close to the city centre and central business district (CBD) and also provides the prestige of a downtown address.
Residential units at the DUO, which is situated between Rochor and Ophir road, will be put up for sale before the end of the year. The 49-storey residential block will hold 660 studio apartments and one- to four-bedders and penthouses. Just below is the Bugis MRT station of the new Downtown Line. Marina One is touted to be one of the only developments in the Marina Bay district to have 65,000 sq ft of greenery. Rare in a built-up city like Singapore, and especially in the city centre. It is also twice the size of DUO.
Tanjong Pagar centre might be the tallest feature in Singapore when it’s built. At 290m, its residential units, Clermont Residences, will be up for sale also end 2013. At South Beach, only 190 residential units will be available.
Will the launch of these mixed-use developments inject some fervor into the year-end property market?