…………………………………………District 16, which encompasses Bedok, parts of Upper East Coast and entire neighbourhoods of Eastwood and Kew Drive, is a popular pick for locals and foreigners alike. With this district, you will find a good mix of landed estates and condos, as well as several mature HDB towns. In addition, schools, business and commercial hubs, and three MRT lines extend the coverage of public transportation for residents.Urban transformation plans in the east of Singapore are on their way, such as the construction of the Sceneca mixed-use development by MCC Land at Tanah Merah MRT Station. It comprises the 268-unit Sceneca Residence and the 20,000 sq ft Sceneca Square retail mall.
District 16 is proving to be an attractive place to live, with the east of Singapore boasting many urban transformation plans, along with new residential areas in the Bayshore area along the East Coast and a new residential town to replace the Paya Lebar Airbase in the future. Offering a mix of landed estates and condos, as well as mature HDB towns, in addition to nearby schools, various business and commercial hubs, and three MRT lines; District 16 promises an area with plenty to offer.
Bernard Tong, CEO of EdgeProp Singapore, spoke on District 16’s future plans, along with the housing options in the area, during EdgeProp’s Master Plan Masterclass webinar held on April 29th. He spoke about the new MRT stations, for example Bayshore MRT Station with its integration of Bedok Mall, Bedok Residences, and an air-conditioned bus interchange into one; and the fourth phase of the Thomson-East Coast Line, which will extend its coverage from Founders’ Memorial station up to Bayshore, due to be operational by next year.
The development of Bayshore is inline with the master plan to develop a new residential town in the Bayshore area, encompassing 60ha of private and public housing, green corridors and main streets, and community amenities. The relocation of Paya Lebar Airbase, estimated to be happening in the 2030s, will open up a large swathe of land around five times larger than Toa Payoh HDB town, and the removal of height restrictions in Districts 15 and 16 may mean a lot of redvelopment opportunities in the future.
The construction of the Sceneca mixed-use development at Tanah Merah MRT Station is likely to bring a much needed breath of fresh air to the area with new amenities, retail options, and public spaces.
Mixed-use and integrated developments such as Sky Eden @ Bedok, are popular among buyers and investors drawn in by the new amenities and housing options close to the MRT station. Sky Eden was launched last September and sold 75% of its units. Sceneca Residence also saw strong demand on its launch too, selling 60% of its units at launch on Jan 14.
Singaporean families who are unable to meet the income eligibility for HDB Executive Condominium (BTO) flats due to the income cap should certainly consider purchasing an Executive Condo (EC) instead. With an income ceiling of $16,000 (which was recently raised from $14,000), ECs are a great option for middle-income Singaporeans who are looking for a place to call home. It is a great housing option for individuals and families in need of quality homes at an affordable price.
Using EdgeProp’s Landlens tool, Bernard Tong showed that the price gap between resale properties in District 16 is narrowing, and approximately 90% of all resale transactions that occurred within 1km of Tanah Merah station between March 2022 and March 2023 proved to be profitable, with The Glades seeing the highest number of profitable transactions.
Overall, District 16 looks set to benefit from the many positive developments already underway, namely the new MRT stations, construction of the Sceneca mixed-use development, and the relocation of the Paya Lebar Airbase. This can bring about great investment opportunities for those who are looking to invest in this area of Singapore.…