Despite six deaths in Bedok Reservoir since June, residents living in the area can be assured that these events are unlikely to affect the values of their homes.
Property firms and agents believe that deaths in residential areas will not have long-term repercussions.
According to Charles Chua, Head of the Investment Sales Department at PropNex, home prices in areas where deaths have occurred, such as Woodlands and Bedok, have not been affected by such incidents.
“People will forget about these events in a few months. Property prices in Singapore are not affected by such events but by demand,” he quipped.
While the superstitious may avoid such properties, most home buyers will still be interested in them, said Nicholas Mak, Head of Research and Consultancy at SLP International.
“People are more concerned about long-term problems, something which would affect their day-to-day lives,” he added.
Steven Lee, Senior Associate Manager at Dennis Wee, said that many people are still interested in viewing residences near Bedok Reservoir. He added that “the prices of the flats in the area are not expected to drop”, despite more deaths having been reported at the reservoir.
Meanwhile, some residents have said they are not perturbed by the deaths in the area.
“This is a good area with many amenities. I am not superstitious about such things,” said Jeremy Lee, a resident in the area.
“Most of the time, there is nothing to be afraid of. It is just people scaring themselves.”
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