PropertyGuru recently held a talk on Singapore’s real estate market outlook, focusing on why District 19 remains a popular choice for home seekers and how Kovan is an untapped treasure of this district. The event was held on 25 October at The Tembusu showflat in Kovan.
Anchored by industry guru Thomas Tan, Principal Trainer at Real Centre Network, he explained that prospective buyers should not be too concerned about purchasing a property in Singapore right now, as projected growth in the nation’s population in the next 15 years means there will still be sustained demand for housing.
“Right now, Singapore’s population stands at 5.47 million. This number will increase to 6.9 million by 2030. As long as the population continues to grow, there will still be general demand for houses. So in the long run, property prices will still go up,” Tan said.
Delving further into where could be a good estate to invest in, Tan noted that based on the three key considerations that buyers should look at, namely economic activity, government policies and population growth, Kovan would make a good option.
“The projected injection of commercial and industrial activities within the Defu and Lorong Halus area (which are within proximity to Kovan) will inject pace in terms of your property prices,” said Tan.
“The Master Plan (from the government) also shows us that there will be further injection of many amenities within District 19. Coupled with the idea that the government has to grow the Sengkang and Punggol areas to accommodate the growth in population, there will be a very high chance of a secondary market audience made up of people from these estates coming into Kovan when they seek to upgrade from a HDB flat to a condo,” he added.
Meanwhile, those in attendance shared that they were pleased with the talk and that it was a fruitful session which added to their knowledge of the property landscape in Singapore.
Image: Thomas Tan, Principal Trainer at Real Centre Network, shares about whether it is a good time to purchase Singapore property and why Kovan is a treasure waiting to be tapped on.
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
