Singapore Property | Mixed developments have become synonymous with affluence. They bring in more money to the neighbourhood. For example, 183 Longhaus is one such property that further increased the standard of living around the already affluent neighbourhood of Upper Thomson. This is because mixed developments offer both residential and commercial spaces, which means that companies that choose to use the space provided will bring in a corporate crowd that businesses in the area will have to cater to.
The benefits of having a mixed development such as The Venue Residences at Tai Thong Crescent and The Poiz Residences; also located in District 13 of Singapore, are many. Residents will have many retail outlets available right at their doorstep, giving them easy access to grocery shopping. Businesses that rent space at such developments will also find that they have a built-in, ready supply of customers from the residential spaces of mixed development such as FloraView and FloraVista at Ang Mo Kio. The implications of this are significant. Firstly, shop owners will realize that breaking even every month and turning a profit will be easy with such high demand. Secondly, once they establish a few regulars within the residences, word will start spreading and pretty soon most – if not all – inhabitants from mixed developments such as NEWest @ West Coast will start buying their product exclusively from them. This in turn, drives up demand, drives up the prices and leads to a more affluent neighbourhood with higher-end eateries and retail fronts to cater to the crowd accordingly. These changes will ultimately result in an increase of property value of the mixed development, as was the case with the luxurious Yishun-based; North Park Residences as well as The Wisteria.
However, mixed developments bring their own set of disadvantages as well. With all the commercial spaces available, the property will see a spike in foot traffic. For instance, the development may be plagued with countless window shoppers resulting in overcrowding, which will in turn put off genuine shoppers. Additionally, residents may not like having so many people milling around where they live. Furthermore, as with the commercial space allocations in the upcoming Stars of Kovan, there may be insufficient floor space and businesses may need to rent more than one unit to get enough room. Another example of a mixed development in District 9 is The Rise @ Oxley.
Conclusively, mixed developments are excellent options for individuals and families who are looking for a slightly more affluent lifestyle and enjoy having retail options so closely situated. If you are considering to live in, buy or rent such a space, then contact these developments to view their units today.