Property outlook

Corinne Kerk

Christine Li, head of research for South-east Asia at global consultancy firm Cushman & Wakefield shares her views on
what should be on your radar during your property search for the coming months

One-North, Paya Lebar and Labrador Park

Homes near established or upcoming decentralised commercial zones such as these should see interest from buyers.
The slew of new cooling measures has dampened the Singapore private residential market and put an increased focus on affordability. Mass market properties are expected to lead demand due to their relatively lower prices and quantum.

Your piece of real estate

Excluding strata landed housing, Districts 17, 22, 25 can be considered if you’re hoping to buy landed property. Based on data from January 2018 to March this year, average land prices forthese districts are still below $1,000psf at around $800 to 900 psf.

-1 to 3 per cent

Recent escalations in trade tensions have cast a pall on the outlook for the private residential market, leaving projected movement of year-on-year prices in this range.

$1,100,000

Be prepared to pay around this amount if you’re looking to buy a two-bedder. This is the average price for new sales of units from 600 to 800 sq ft.

Most popular unit sizes

Two-bedders tend to be favoured as they are more affordable compared to their larger counterparts and yet can accommodate small families. Depending on the project, these units are usually around 600 to 800 sq ft, with the median
size of new sales units at 721.2 sq ft.

Coveted condo

Designed by award-winning SCDA Architects, 455-unit condo Riviere on Jiak Kim Street is next to the Singapore River and lies on the former iconic Zouk site near Robertson Quay. This Frasers Property development in District 9 has strong locational, lifestyle and prestige attributes. Apart from its proximity to the upcoming Great World MRT station and the plethora of amenities within walking distance, it offers great accessibility to the central business district and the Orchard Road shopping district. It is expected to be supported by rental demand from working professionals.

Urban living icon

All eyes are on the Greater Southern Waterfront transforming into a new urban living location. The relocation of port terminals,  including Tanjong Pagar and Pasir Panjang, to Tuas has freed up land to develop this new waterfront city, which extends from Pasir Panjang to Marina East. According to an article in The Straits Times, it will be the primary catalyst of what may be an eventual transformation of Singapore’s entire southern coastal region. It is expected to part of an expanded central business, civic, cultural-entertainment and lifestyle district stretching from Orchard Road and Bras Basah to HarbourFront and Sentosa.