It will not be an overstatement to say that the property industry in Singapore is booming. Recent announcements by the government may have gotten everyone into a festive mood with the promise of good things to come. But those good things, such as the Greater Southern Waterfront, may be planned this year, but may only materialise a decade or so in the future. A savvy investor would probably look at which areas will be completed first, and target those for sooner returns.
The Woodlands Regional Centre has been in the works for sometime now, drafted and planned by the URA under the Masterplan 2008. Being the closest to our neighbouring Johor Bahru, and served by an established transport network, which will only be further extended in future, commercial plots are already being put up for sale by the government as early as December 2013. Investors can expect development to be rapid, possibly up and running within the next five years.
In another district with a different ambience, but still as vibrant, is the Holland Village area. With bits of nostalgia and pockets of the new and modern, it’s an eclectic mix which attracts the artistic aånd creative crowd. To be extended to include 1,500 new homes and community park, it is also suitably close to the commercial hubs of Biopolis and Fusionpolis at One North. With the circle line and upcoming Thomson line, it will be even easier to connect to other parts of the island from this “urban-village” icon. Properties and businesses in this area might be set up to see a huge change.
Industry analysts are expecting the other areas included in the Master Plan 2013 to be developed much further down the line. The Marina South area for example, will only be developed after the completion of the Thomson MRT Line, which means it will only begin work 4 years later. Tanjong Pagar, Kampong Bugis and the Greater Southern Waterfront are all areas set for development under the Master Plan 2013, but properties in these areas will mostly be commercial and retail. Residential properties will command high prices, for its proximity to the city centre, thus property consultants are expecting new suburban areas to overtake in popularity and speed of progress.