By Romesh Navaratnarajah
Location is the most important factor to consider when purchasing property in Singapore, ahead of pricing and property size, according to PropertyGuru’s latest Consumer Sentiment Survey.
Not only does proximity to public transportation, offices and shopping malls offer more convenience, but it also raises the value of your property over time.
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So which are the most popular areas to buy a property and why? Our survey found that one in three Singaporeans intend to buy a property in the mature District 15 (East Coast / Marine Parade).
This was followed by District 11 (Newton / Novena), District 12 (Balestier / Toa Payoh), District 9 (Orchard / River Valley) and District 10 (Tanglin / Holland).
Here’s what makes these areas so hot!
District 15 (East Coast / Marine Parade)
Home to East Coast Park, the largest outdoor recreation park in Singapore, this stretch of coastline also boasts some of the most sought-after waterfront facing properties on the island. The area also offers convenient access to Changi Airport and the CBD via the East Coast Parkway.
While there’s no MRT station at the moment, residents in the East Coast can look forward to nine MRT stations on the upcoming Thomson-East Coast Line which is due to open in stages from 2019 until 2024. This will benefit recently launched condominiums in the area, including Seaside Residences at Siglap Link and Amber Park along Amber Road.
District 11 (Newton / Novena)
Newton is probably most famous for the Newton Hawker Centre, which attracts tons of tourists and is known for its sumptuous local fare. Aside from its proximity to Orchard Road and the CBD, the area is served by two MRT lines, making it more convenient for commuters to travel to other parts of Singapore.
Meanwhile, big plans are in the works to revamp Novena into the biggest healthcare complex in Singapore by 2030, with public and private healthcare facilities as well as a medical school.
District 12 (Balestier / Toa Payoh)
One of the oldest HDB towns in Singapore, Toa Payoh is a self-contained estate with plenty of amenities such as shops, schools, clinics, community centres and eateries. This makes it convenient for people who don’t want to travel far. Centrally located, Toa Payoh is also the nearest HDB estate to Orchard Road, making it popular with expat tenants looking to live near the city, but who are seeking lower rents.
Meanwhile, Balestier is known for having its own unique charm with Art Deco shophouses and is a foodie haven famous for its Bak Kut Teh stalls, Boon Tong Kee chicken rice and Whampoa Hawker Centre. Located close to Tan Tock Seng Hospital and the future Health City Novena project, the area was rejuvenated and now boasts a heritage trail, shopping mall and two hotels.
District 9 (Orchard / River Valley)
Considered one of the best shopping destinations in Asia, the Orchard area is also one of the priciest and most sought-after residential areas in Singapore. Connectivity to the area will be enhanced further when the upcoming Thomson-East Coast Line opens with a new Orchard Boulevard station connecting commuters to Shenton Way, the heart of the CBD.
Right next door is River Valley, home to several stunning developments that have sprung up in the last few years such as luxury condominium 8 St Thomas and RV Altitude. The latest addition to the area that will greatly benefit residents and push up property values is the arrival of the Thomson-East Coast Line, with a station at Great World City due for completion by 2021.
District 10 (Tanglin / Holland)
Tanglin is a posh enclave known for its embassies, luxury homes and the Singapore Botanic Gardens – a UNESCO World Heritage Site. Within the area lies Dempsey Hill, a former army barracks that was converted into a lifestyle destination featuring chic bars and restaurants. A popular area for expats to live and hang out, Tanglin will become more accessible once the Thomson-East Coast Line is up and running.
Holland Village is also a lively area known for its alfresco dining and laidback vibe. Popular amongst locals and expats, the area is served by its own MRT station. Similar to Balestier, Holland Village will be further developed as an ‘identity node’, which means it will retain its charm and ambience. A new extension adjacent to Holland Village is also in the works that will add vibrancy to the area and make it a great place to live, work and play.
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