Singapore’s property market is constantly evolving, and investors are always on the lookout for the next big property investment opportunity. While mature estate can have better predictions of future growth, we cannot discount the growth potentials of emerging areas for property investment in Singapore.
If you are looking for the next emerging areas in Singapore, we have broken down 5 locations:
- Jurong Lake District
- Greater Southern Waterfront
- Pasir Ris
We can expect more development within these areas over the next few years. This means that there will be more residential, commercial, or industrial buildings set in place to boost growth within the area. If you are interested, continue to read on.
Why Invest in Emerging Areas
Can you recall a time when Punggol was deemed an unfavorable choice for property investment or residence? Concerns revolved around its location, amenities, and the quality of schools in the area, all of which seemed to deter potential investors.
Fast forward to today, and the situation has taken a remarkable turn. Punggol now boasts HDB sales reaching the million-dollar mark, with properties selling for as high as $1.22 million. Many property owners in Punggol have witnessed substantial returns on their initial investments.
If there’s one thing property investors know, is that investing in real estate is simply a waiting game.
If you are looking to make capital gains from property investing, here are 5 emerging areas for property investors to take note of.
Woodland; North of Singapore
Woodland, located in the northern region of Singapore, has been experiencing a significant transformation in recent years.
The development of the Woodland Regional Centre promises a vibrant community with shopping, dining, and recreational amenities, further increasing its appeal.
With its location, it attracts many Malaysian visitors to look forward to finding jobs near their border.
Apart from more development in Woodland itself, buyers can look forward to better connectivity thanks to the new development of the Thomson-East Coast line. This new MRT will connect all the way from the North of Singapore down to the East of the city center which only takes less than 30 minutes to reach.
With the Thomson-East Coast Line and North-South Expressway, the area’s connectivity will improve drastically. This enhancement in infrastructure makes Woodland a hotspot for property investment.
Buyers can also look forward to more property development throughout the TEL line, which developers are already building private properties, such as Lentor Modern and Hillock Green.
Jurong Lake District; the Second CBD in Singapore
Jurong Lake District is poised to become Singapore’s second CBD(Central Business District). With numerous development plans, including the High-Speed Rail terminus, Jurong Lake Gardens, and the Jurong Innovation District, this area is set for massive growth.
The extensive network of transportation, educational institutions, and healthcare facilities makes it an attractive option for property investors. Places around the area such as Clementi are also expected to see huge growth potential from the spillover in demand for property within this region.
As the district grows, an ecosystem of innovation, collaboration, and synergy within the region will emerge. Jurong Lake District will be a base for companies with strong environmental, Social, and Governance (ESG) ambitions to tap into the West Region for opportunities in sustainability businesses.
By 2040 to 2050, Jurong Lake District will have 100,000 new jobs and 20,000 new homes, adding to the 1 million residents already in the West Region.
Currently, there is one exciting project that is coming up soon in the heart of Jurong; which is J’Den, formerly known as J’Cube.
At HustleVenture, we covered extensively on J’Den. Providing the most information there is on the Internet.
If you would like to know more about J’Den, be sure to check out our article below.
Greater Southern Waterfront; Million-dollar View
The Greater Southern Waterfront is one of the most exciting areas for property investment in Singapore. Over the next few years, the Singapore government plans to launch more BTO projects within this area.
This means residents can possibly get to enjoy the seaside view in this location!
The Greater Southern Waterfront comprises Keppel, Brani, and Sentosa, offering spectacular waterfront living. The rejuvenation of this area will result in an influx of mixed-use developments, creating a unique living experience.
Just recently, the Singapore government announced the first two Bayshore BTO projects with 10,000 expected new homes in 2024 under the new Plus model. Of these, 70 percent – around 7,000 homes – will be public housing, according to the Housing and Development Board’s (HDB) masterplan for the area.
Similar to recent housing developments like Tengah, the design of the Bayshore estate will be guided by sustainability and “smart infrastructure”, such as solar-ready roofs and a pneumatic waste conveyance system.
Studies on wind flow, temperature, sunlight, and shade will be carried out at Bayshore to create a green and comfortable living environment. For instance, HDB will use modeling software to analyze wind flow to optimize natural ventilation throughout the estate.
“Shade analysis will guide the optimal placement of outdoor amenities such as playgrounds and fitness corners to enhance the comfort for users,” said HDB.
If you would like to find out more about upcoming BTO projects, be sure to follow the link here.
Pasir Ris; Peaceful and Tranquil Living
Pasir Ris is a serene and picturesque neighborhood located in the eastern region of Singapore. For Singaporeans, most of us know of Pasir Ris as a place for men to go for their National Service.
Pasir Ris is set to undergo significant changes over the next few years. One of the major developments is the Cross Island MRT Line Punggol extension, which is expected to be completed by 2032. This extension will introduce four new stations, including Pasir Ris, and is expected to significantly reduce travel times and enhance connectivity to key areas like the Punggol Digital District and Changi Aviation Park. This is likely to impact real estate dynamics in Pasir Ris, potentially leading to better property value appreciation.
In addition, the Pasir Ris 8 mixed development project by Allgreen Properties Limited is underway, with an expected TOP in November 2024. This development will offer various amenities and is expected to contribute to the growth of the area and provide a comfortable living experience for residents.
Furthermore, the URA Master Plan 2025, which is currently being developed, will likely bring about changes that could impact Pasir Ris. While the specific details for each neighborhood are yet to be revealed, the plan focuses on housing accessibility, supporting families and active living, and introducing more flexible and mixed-use workspaces.
Tengah; Car-free Forest-living
Tengah is the first HDB town to have a car-free Town Centre where green commutes such as walking and cycling are encouraged. The separation of pedestrian flow from vehicular flow right in the heart of the town will create a safer and friendlier space.
Given how we are moving towards car-free, the government has implemented more bus stops within 300 meters of residential blocks. These buses will have better connectivity to the bus interchange at Tengah MRT.
We can expect more growth potential happening in Tengah with the new news that ACS primary will be relocated to Tengah in 2030.
ACS primary is considered to be an elite school in Singapore and we know that properties near better primary schools in Singapore tend to appreciate in value better thanks to Singapore’s proximity criteria to enter primary schools.
This is mainly the reason why properties like the recently launched Altura EC were able to sell 87.5% of its unit and set a record of $1,585 psf.
With greater connectivity to Jurong Lake District, buyers can expect to meet the rising demand for jobs within the area. Apart from that, Jurong Innovation District will also bring in more demand for work within the area.
What to Expect in the coming years
While emerging markets may see huge potential over the next few years, we need to understand that the Singapore government has added preventions against the lottery effect from BTO buyers.
To prevent a huge surge in demand and price surge in more central locations in Singapore, the Singapore government has also implemented the standard, plus, and prime model to curb the rising cost of living in Singapore.
If you would like to understand more about what type of property to invest in, either BTO or resale or look into private property. Then be sure to check out our other articles in the real estate section here.
Hope you have gotten a rough idea of what you can look out for.
Aaron Oon is a Senior Associate Director at Propnex and Founder of Real Estate Insider. A consistent Top Producer in the competitive world of real estate, Armed with a Finance degree from NUS, Aaron is more than just a real estate agent; he’s a strategic thinker and a creative problem solver.
In his company Real Estate Insider, he shares the latest market updates and trends happening in the world and Singapore to keep us within the loop.
Frequently Asked Questions
Are these emerging areas suitable for long-term property investment?
Absolutely. These areas have been meticulously planned and are expected to experience substantial growth and development, making them excellent choices for long-term property investment.
How do I assess the potential of these areas for property investment?
It’s crucial to consider factors like infrastructure development, connectivity, amenities, and the overall vision for the area. Researching market trends and consulting with property experts can also help in making informed decisions.
What role does transportation play in property investment in these areas?
Excellent transportation networks are a vital factor for property appreciation. The areas mentioned are strategically located with upcoming transportation upgrades, making them highly attractive for investors.