Accessibility looks set to further boost the appeal of Singapore’s north-eastern district, writes Cheryl Tay.
Hougang, Punggol, Sengkang and Serangoon Gardens make up Singapore’s District 19, an area known for its residential areas and its number of parks, reserves and recreational facilities. Punggol in particular is known for the Punggol Waterway Park, where nature lovers, cyclists, joggers and the like can go for some peace and quiet. But that’s not all: the area is being made more accessible with big plans for future public transport developments.
ALL ABOUT CONNECTIONS
As with any attractive residential or commercial area, District 19 is set to feature an impressive public transport network that will make it easily accessible and well connected to the rest of the country. Under the Land Transport Authority’s (LTA) Masterplan 2013, the future MRT Cross Island Line (CRL) will intersect with the North-East Line (NEL) at Hougang and connect Punggol to Pasir Ris.
Evan Chung, Vice President (Resale Division) at DTZ Property Network, says: “While this might seem a long way off, with completion estimated for 2030, I’d have to say that developers and real estate salespersons are already using this as a selling point for projects in the area. And though prices of resale or new properties have yet to show any significant change due to such announcements, I believe the area’s potential, especially with regards to improvements in connectivity, will positively affect demand. Initial respondents to this would of course be real estate, followed by buyers and investors.”
DEVELOPMENTS GALORE
Of course, with District 19 becoming more appealing to potential buyers and investors, residential projects have been popping up all over the area. Several private residential developments in the district were launched and sold in 2013: Midtown in Hougang, La Fiesta in Sengkang, The Tembusu in Kovan and Jewel @ Buangkok.
Projects to look out for in 2014 include Ecopolitan, Waterwoods (both executive condos), Rivertrees Residences, and UOL Group’s Riverbank @ Fernvale, a condominium next to Sungei Punggol at Fernvale Close / Sengkang West Way.
“However,” Chung says, “In 2014, there will be a dearth of executive
condominium (EC) launches due to the 15-month waiting period from the
date of award of the sites or after the physical completion of
foundation works — whichever is earlier — as imposed on 12 January last
year.”
ALL SET TO FLOURISH
Despite this, Chung also foresees that “District 19 will have more developments coming its way, as it still has a lot of untapped potential”. Indeed, Serangoon will become a Sub-Regional Centre with new commercial developments, and Hougang will be revitalized and likely see new HDB BTO and private residential launches; glimpses of these have already been revealed in the Draft Master Plan 2013. Areas like Sengkang, Punggol and Buangkok still have a fair amount of Reserve Sites surrounding the MRT stations, and these could be used to grow the area into hubs like the Woodlands Regional Centre.
Chung opines, “I’ve always felt that demand for landed properties has spilt over from District 20 and even District 15, where prices have appreciated a fair bit over the years, and buyers are now seeking more affordable alternatives. We will likely see more houses in their original condition being sold to buyers who are willing to spend on reconstruction. Hot zones are usually within walking distance of the NEL and close to renowned schools like Paya Lebar Methodist Girls’ School and Maris Stella.”
He also touts Serangoon Gardens as “the Holland Village of the North-East”, with the landed homes there continuing to attract buyers. Most promisingly, in the last three months leading up to January 2014, District 19 has seen the highest number of transactions island-wide, clearly reflecting the demand it has drawn.
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