By Shabnam Muzammil:
Potong Pasir is set to shed its backwater image with new projects that are expected to liven up the area, reported The Straits Times.
Residential launches, namely 18 Woodsville, Nin Residence, Sant Ritz and Sennet Residence (pictured) will boost the town’s supply of private homes.
Sennett Residence has sold over 70 percent of its 332 apartments since its launch last week at an average price of S$1,450 psf.
Meanwhile, a mixed-use site at the corner of Upper Serangoon Road and Meyappa Chettiar Road that was sold in September 2012 is expected to provide Potong Pasir residents with more retail options.
“There are opportunities for new mall developments, but these usually develop after some critical mass is in place,” said R’ST Research Director Ong Kah Seng.
Potong Pasir’s proximity to the city centre makes it attractive with investors who “will find the rentability of homes here higher than those in the north-east area, as they are better located and the profile of occupiers is less owner-occupier”, he added.
The area is also expected to become more popular among expatriates looking to save on housing costs.
To date, completed projects include Woodsville 28 and One Leicester. Launched in April 2006, One Leicester was offering units priced at S$610 psf on average, while apartments at Woodsville 28, launched in July 2008 were averaging S$775 psf.
Located next to the planned new town of Bidadari, Potong Pasir is close to several schools like St Andrew’s Junior College, Cedar Girls’ Secondary School and the Stamford American International School.
“Potong Pasir is definitely an area that the more affluent HDB upgraders can consider, as it is well-located, and the spate of new residential developments and some supporting retail amenities are set to energise the area,” noted Ong.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@propertyguru.com.sg
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