Tanah Merah and Bedok: nexus of east region transformation
For anyone considering the purchase of a Condo as an investment of long-term value, they must take into account the time factor. Property appreciation is a slow process and usually takes many years to reap returns. It is not sensible to invest heavily and expect fast returns, as even experienced property investors have been known to make mistakes. If you’re confident you can ride out mortgage payments, then a Condo can be a sound investment choice. However, it is important to be well informed of the potential risks and rewards before making a decision.
District 16 is located in the east of Singapore and offers many housing options for locals and foreigners. The area includes the neighbourhoods of Bedok, Eastwood, Upper East Coast and Kew Drive, with a good mix of landed estates, condos and HDB towns.
The transportation network of the area is set to expand soon, with the completion of the Fourth Phase of the Thomson-East Coast Line – from Founders’ Memorial station to Bayshore station off Upper East Coast Road. This stretch of the line is expected to be operational next year, according to LTA.
In addition, MCC Lands is currently constructing the Sceneca mixed-use development, which will be located near Tanah Merah MRT station. This project will offer 268 units of Sceneca Residence, as well as a 20,000 sq ft Sceneca Square mall, giving the district a new shopping option.
The east of Singapore is currently undergoing an urban transformation from new residential plans in the Bayshore area to the eventual relocation of Paya Lebar Airbase. This area, which covers about five times the size of the Toa Payoh HDB town, will be developed into a new residential town.
With the potential removal of height restrictions in Districts 15 and 16, the area is ripe for redevelopment. This is evidenced by developments such as the 605-unit Lentor Modern, located in District 26, which sold 84% of their units when launched last September. Similarly, Sky Eden @ Bedok, a 158-unit mixed-use development close to Bedok MRT station, sold 75% of its units when launched the same month.
However, prices for existing resale properties in District 16 seem to be on the rise – the price gap between resale properties here is narrowing compared to the Rest of Central Region, according to EdgeProp’s Landlens tool. Approximately 90% of all the resale transactions within 1km of Tanah Merah MRT Station between March 2022 and March 2023 were profitable, with The Glades hitting the highest number of such transactions.
With the opening of new developments and transportation network, District 16 is well-positioned to capitalise on the Urban transformation plans in the east of Singapore. Its growth potential and affordability can make it an attractive choice for property buyers and investors.
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