A great way to look out for property with upside potential in Singapore is to get a real estate that is near to or within major urban transformations. According to URA, urban transformation projects are key growth areas to boost economic growth in the identified areas, creating new jobs and bringing more amenities closer to the residents.
The creation of new jobs will increase the demands for housing, in turn, increase the rental yield and prices of home in the urban transformation region. The building of more amenities will further enhance the attractiveness of living in the transforming region, further increasing the value of the home.
So, in the below summary of major urban transformations in Singapore, my focus is the number of jobs that will be created by the urban transformation to assess the future demand for housing in the identified urban area and the schedule of the development so you can better plan your investment horizon. That say, do check out the list below before you invest in resale property in the open market or new private condominium project from developers.
|Major Developments||Land Size||Time & Schedule of Development||Expected Number of Jobs||Key Focus|
|Jurong Innovation District||600-Hectare||Phase 1 to be completed in 2022.||95,000||Advanced Manufacturing|
|Tuas Mega Port||294- Hectare||Operation begins 2021, expected completion by 2040||170,000 (jobs within maritime industry as of 2018 and another 5,000 jobs to be created in the next decade)||Maritime|
|Jurong Lake District||160-Hectare||2008 and Beyond||More than 100,000 new jobs||Second Central Business District (CBD) of Singapore|
|Punggol Digital District||50-Hectare||Phase 1 by 2023||28,000 new jobs||Digital District|
|Paya Lebar Airbase||800-Hectare||Begins 2030||To be updated||Likely Aviation related theme.|
|Greater Southern Waterfront||2,000 Hectare||2027 onwards.||To be updated||Live, Play, Work|
|Star Destination of the North (Woodlands Regional Centre)||100-Hectare||2017 to 2027||Up to 100,000 new jobs||Agri-Food Innovation Park|
|Changi Region||To be updated||2019 onwards.||To be updated||Business Gateway to the World|
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In my seven years of real estate career, I have seen many property owners losing their money or have their money stuck in their property investment. Mostly because of bad decisions made based on lack of information, bad advice and unchecked emotions. I would love to meet up with every one of you and help you in your real estate journey, but this may not be possible. So, I have started this blog to share my insights and hopes they will help you make a better decision.
If you are ready to begin your rewarding real estate investment journey with me, Whatsapp me today at +65 9004 5827, till we meet, good luck in your real estate investment journey.