Six units at Waterfront Gold and eight at Waterfront Key in the Bedok Reservoir area have been snapped up since last week’s announcement that an MRT station will be developed nearby.
The units were snapped up since last Friday when the government announced the Stage 3 details of the Downtown Line, said developer Frasers Centrepoint Homes, whose Waterfront Gold project is set for official launch this Saturday.
Waterfront Key, Waterfront Gold and Waterfront Waves are located in close proximity to the planned Bedok Reservoir station.
Projects located near this line are expected to see stronger demand, just like any other projects near MRT Stations.
The newest stage of the Downtown Line extends from Liang Court in River Valley in the south to Singapore Expo in the east, with 16 planned stops, including Kaki Bukit, Kampong Ubi, Upper Changi and Tampines East.
Several MRT stations on the line are situated within industrial and commercial areas, specifically in the Eastern and Northeast regions, said Ms. Christine Sun, senior manager at Savills Research & Consultancy, adding that the line will enhance transport links to suburban commercial sites in Singapore Expo, MacPherson, Kaki Bukit and Ubi.
More businesses may transfer their offices from downtown areas and city fringes to the park, said Ms. Sun, who added that industrial property prices in these areas would be positive.
Ms. Sun also said that residential properties located near Upper Changi, Pasir Ris, Tampines and Bedok Reservoir could enjoy stronger demand down the road.
Residents in those areas can transfer to stations on the East-West Line through the new Downtown Line rather than using bus transfers.
“For now, owner-occupiers may show more interest than investors in the projects near the new Downtown Line because these are mostly suburban areas,” said Ms. Sun, adding that the timeframe for the Downtown Line’s completion may be very long for some investors.
Stage 3 of the Downtown Line is scheduled to be completed in 2017.