Many real estate buyers and investors are just waiting for the right time to get that good deal in Singapore. And why rush? There are already so many indications that the housing market is starting to take a dip and prices are slowly diving south. However, not all areas in SG are affected by this current market trend. There are still areas where property prices haven’t fluctuated yet and it’s all because of its location.
By 2030, it is expected that commuters will have easier access to the various areas of Singapore because of the upcoming MRT lines. Residents can take advantage of the new Downtown Line MRT and Thomson Line MRT stations in a couple more years. According to the Land Transport Authority Master Plan 2013, these new stations will only be a short walk away from the residential areas especially those who are living at the Downtown Core.
Despite the government’s current curb property measures and efforts to stabilize the prices of these residential properties, the homes located at the Outside Central Region and Core Central Region such as Botanique @ Bartley or Alex Residences, are still rapidly increasing. An example would be a four-room flat from Housing Development Board in Toa Payoh can reach a maximum amount of $552,000. But for a 4-bedroom unit in Yishun, the average price would already reach as much as $360,000.
Location is definitely one of the main reasons why prices of the properties at the Core Region (new launch developments like the Robin Residences and Gramercy Park) are escalating. Moreover, other factors for the price increase also include the amenities and the convenience that the location could offer to its residents. If the property is in close proximity to the business district, malls, and various establishments then the price is higher compared to the areas that are not as close to these facilities.
Aside from that, residents can have that prestige lifestyle particularly at the Central Region since the surrounding areas are more developed and can cater a more lavish standard of living.
** Where is the right location? Is it in an integrated development like North Park Residences; which has a MRT Station and a bus interchange at your doorstep? Or whether it is at a Freehold development at District 20 called the Adana at Thomson?