Property buyers always say: Location, location, location. Without a doubt, this is one of the key factor to shortlist a property. Not only it is one of the most important considerations when buying a property – you will need to factor in if there are any future plans by the Government – as these usually have an effect on property values.
The next residential hotspot is Singapore’s North Region. Comprising Sembawang, Woodlands and Yishun outlined by The URA aka Urban Redevelopment Authority for development in its 2014 Master Plan – which is spearheaded by the upcoming Woodlands Regional Centre. Currently in its gestation stage, Woodlands is envisioned to grow into Singapore’s third regional centre, after Tampines and the Jurong Lake District. It will become a major employment hub and this is expected to have spillover effects on housing demand in the neighbouring towns of Yishun and Sembawang.
In addition, various infrastructure improvements have been introduced to improve connectivity. The North-South Corridor and the Thomson-East Coast Line are two major projects that will reduce travelling time to and from the north for commuters and drivers. This will further increase the attractiveness of housing estates in the north.
The North-East Region is also a popular destination for Executive Condominium (EC) buyers. In May, the best-selling ECs were all located in Punggol and Sengkang. Anchored by the Punggol Creative Cluster and Learning, Punggol is set to be transformed into a space for innovative new industries, creating many employment opportunities in the process. Seletar Aerospace Park is another important development in the North-East Region. Currently home to multinational companies such as Rolls Royce and Airbus Helicopters, it is envisioned to create up to 10,000 jobs when completed.
Another area to take note of is Jurong. In Budget 2016, the Jurong Innovation District was unveiled. Scheduled to be completed by 2022, it aims to bring together students, researchers, innovators and businesses to create the industrial park of the future. The employment generated is expected to boost housing demand in the vicinity.
In conclusion, ECs provide a very viable option for buyers to consider, either as their first home or an upgrading option. However, not just anyone can buy an EC. The purchase of an Executive Condominium (EC) is only for those who meet the stringent eligibility criteria. This select group of people should capitalise on this opportunity to own an Executive Condominium (EC) and with it, a whole new lifestyle.