By Nikki De Guzman:
Several mixed-use projects are coming onto the market in response to greater demand among younger consumers wanting to have their homes near to shops, according to real estate agents and reported The Straits Times.
Among the upcoming projects is The Midtown and Midtown Residences (pictured) in Hougang. Set to be launched on 15 April, the mixed development is being offered on a 99-year lease and comprises 160 residential and 107 commercial units. The commercial component includes shops, a supermarket and duplex restaurants. It is expected to be completed in 2017.
At the same time, NeWest along West Coast Drive is set to be launched in mid-April. The 12-storey residential and commercial property sits on the former site of Hong Leong Garden Shopping Centre. Another project called Novena Regency is set to launch before the end of June. The project features 55 residential units and 45 commercial spaces.
Mohamed Ismail, Chief Executive of PropNex, noted that there is strong demand for mixed-use developments among younger buyers seeking the convenience of nearby shops.
He added that such projects have become more popular compared with 20 years ago, when they were considered more crowded and less exclusive.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
Related Stories:
Frasers Centrepoint launches first EC for 2013
Jade Residences records brisk take-up
Rare Japanese property to launch in Singapore