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URA MASTER PLAN 2019 -- 8 Best Areas to buy Property in Singapore
Over the years, one cannot deny that Singapore has indeed grown to become quite a beautiful city, especially when you take an evening walk around the Marina Bay or do a leisurely stroll along the Singapore River from Robertson Quay to Boat Quay. Such a physical transformation owes much to Singapore’s excellent urban planning framework, which revolves around the following Concept / Master Plans.
Concept Plan 2011
This is the strategic land use and transportation plan that guides Singapore’s development over the next 40-50 years, and is updated every 10 years. Click here for details.
MND Land Use Plan 2030
This is a conceptual plan that outlines the strategies to provide the physical capacity to sustain a high quality living environment based on a population of up to 6.9 million by 2030. Click here for the accompanying Population White Paper.
Land Transport Master Plan 2040
This is a master plan that charts out the long-term vision, policies and targets to guide the development of Singapore’s land transport system to 2040. Click here for details.
URA Master Plan 2019
This is a statutory land use plan that translates the broad long-term strategies of the Concept Plan into detailed plans. Updated every 5 years, it guides Singapore’s development over the next 10 to 15 years. Click here for details.
STAY ON THE SAME SIDE AS THE GOVT
In first formulating and then implementing these various Plans (particularly the URA Master Plan), the Singapore government has been and will continue to indirectly influence the relative levels of property prices in different locations within the country. This is because locations “chosen” by the latest Master Plans will inherently benefit – more than other locations – from the planned economic, recreational and infrastructural developments.
In recent years, most of us have become quite resigned to the fact that the Singapore government will continue to manage / control property prices across the board – at a macro level – via policy intervention. Of course, I am referring to property cooling measures – of which we Singaporeans have no control over. However, we can still be alert to the opportunities – at the local level – created by the Government’s development plans. There may be opportunities to ride on the “ascent” of chosen locations that will benefit most from the progressive implementation of the various master plans. In property purchase decisions at least, it may pay to be on the same side as the government! See the video below featuring remarks by Mr Lawrence Wong, then Minister of National Development.
WHERE ARE THE 8 BEST AREAS TO BUY PROPERTY?
Given these considerations, the following may be some of the best areas and prime locations to buy property in Singapore. Within these 8 locations are new property launches as well as older condos with enbloc potential, all of which are discussed in greater depth in various sections of this website:
1.. ALL OVER SINGAPORE ...
In 2017-2020, a total of 78 condos in various districts – all over Singapore – launched their collective sale tenders (after successfully getting more than 80% en bloc vote from the subsidiary proprietor owners). However, their en bloc tenders were not successful in that cycle, because most of them were derailed by the Singapore government’s sudden July 2018 cooling measures as well as the Covid-19 coronavirus pandemic. Nevertheless, these condos have demonstrated that they have “real” enbloc potential.
As compared with other “aspiring” condos that could – not – even get 80% en bloc vote or where no marketing agent was even willing to take up the job, these 78 condos in Singapore may thus have renewed enbloc potential in the next en bloc sales cycle. Click here for details.
2. DAWSON
Located close to Orchard Road and on the fringe of the Tanglin good-class bungalow area, the Dawson precinct is poised to become a HDB Millionaires Row in the years to come — once the spanking new beautifully-designed HDB BTO flats there progressively reach the 5-year Minimum Occupation Period (MOP). Two HDB BTO projects, SkyVille @ Dawson and SkyTerrace @ Dawson, were completed in 2015, while five more projects (including SkyParc, SkyOasis and SkyResidences) will be completed by 2021. The seven developments may look different as each has its own project consultant, but in its first landscape master plan, HDB is linking up the seven Dawson housing projects together in a series of green spaces and pathways, forming a scenic nature-centric neighbourhood. An array of new amenities are being built in the five new precincts in Dawson, comprising 30 shops, a supermarket, four eateries and social/communal facilities, to complement the current facilities at Dawson Place, and the recent facilities at SkyVille and SkyTerrace. Click here for details. Also, do watch the interesting CNA video below (June 2021) on “More HDB flats in non-mature estates could breach million-dollar mark in next 5 years”.
3. GREATER SOUTHERN WATERFRONT
If one takes a closer look at both the URA Master Plan 2014 and URA Master Plan 2019, it is undeniable that the most exciting / important development in Singapore’s urban planning framework is the Greater Southern Waterfront project. As the Master Plans get translated into action plans on the ground, they will energize a whole host of new residential and commercial developments stretching along the southern coast from Marina Bay to Pasir Panjang. In the long term, the “centre of gravity” of Singapore’s property market is thus expected to shift further southwards towards the waterfront. Click here for details. Watch PM Lee’s National Day Rally 2019 speech below on the Greater Southern Waterfront.
4. GREATER CBD
5. HOLLAND VILLAGE
Under the URA Master Plan, the traditionally sought-after Holland Village area is poised for rejuvenation, as it has been designated as an “identity node” in order that future new developments will continue to preserve its charm and ambience. 3 plots of land have been designated for largely mixed-use developments yielding a total of 1500 homes. New developments at Holland Village will be designed along intimate laneways and courtyards to add new residences, retail and lifestyle uses and add to the charm of Holland Village. When the developments come to fruition, the Holland Village area is expected to increase its appeal to both locals and foreigners alike. Note that the neighbouring Holland Plain precinct (located near King Albert Park station and the Rail Corridor) will be launched for development from 2021/2022 onwards. The 34-hectare area may yield about 2,500 private units. Click here for details.
6. AMBER RD · MEYER RD
The Amber Road / Meyer Road area is traditionally one of the most sought-after precincts in D15, as it is right at the heart of the East Coast / Katong district. Developers are timing the completion of a number of new condos to coincide with the opening of the Tanjong Katong / Katong Park MRT stations along the Thomson-East Coast Line in 2023. Meyer Road is home to many exclusive landed properties and close to the city centre, while the Amber Road area is very close to I12 and Parkway Parade mall, where an underground pedestrian shopping mall will be built to connect the upcoming Marine Parade and Marine Terrace stations. Expected completion date is 2023 too. Part of the Land Transport Master Plan, this increased connectivity will add to the appeal of this long-established residential neighbourhood. Click here for more details.
7. BUKIT TIMAH ROAD
This stretch of Bukit Timah Road from Newton MRT to Beauty World MRT is becoming more and more sought-after, as the Downtown Line is expected to continue boosting property prices in this traditionally highly-prized neighbourhood that is already populated with good schools. Along this stretch of the Downtown Line, Botanic Gardens MRT station is an interchange station with Circle Line, while Newton MRT station is an interchange station with North-South Line. By 2021, as part of the Land Transport Master Plan, Stevens MRT will become an interchange station with the upcoming Thomson-East Coast Line, thus further boosting connectivity in this stretch of Bukit Timah Road. Under the URA Master Plan 2019, a new Sky Park is set to be built above Bukit Timah Canal. This 1.4km elevated linear park will run from Rifle Range Road to Sixth Avenue, rivalling New York’s famous High Line. Click here for details.
