Telok Blangah estate is set to see more housing demand, mainly due to its natural greenery and proximity to the central business district (CBD) and nearby business parks, The Straits Times reported.
According to Nicholas Mak, Research Head at SLP, a third of Telok Blangah is made up of parks, namely Mount Faber Park and Telok Blangah Hill Park which are linked by a park connector – Henderson Waves (pictured).
“The parks will not be developed into housing, so the tranquil environment is likely to be preserved,” he said.
Png Poh Soon, Head of Consultancy and Research at Knight Frank, added: “The area’s lush greenery provides a refreshing living environment for residents, which is a valuable entity in land-scarce Singapore.”
In addition, Telok Blangah’s close proximity to Sentosa, the CBD, Alexandra Technopark, Mapletree Business City and Merrill Lynch HarbourFront is an even more powerful selling point, as indicated by the area’s active rental market.
There is also a ready pool of expatriates who plan to lease public or private housing units for short- or long-term stay, noted Png.
Tenants are also attracted to Telok Blangah, thanks to the presence of HarbourFront/Telok Blangah MRT stations and VivoCity mall, one of Singapore’s largest shopping centres.
Png also said that most leases were signed at newer condominium projects like the Caribbean at Keppel Bay. Rents for units measuring between 1,250 and 1,350 sq ft range between S$6,000 and S$6,500 per month, while units above 2,000 sq ft can command around S$8,000 a month.
But while Telok Blangah’s rental market is good, the number of new projects completed in the last five years has been fairly limited, he added.
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