When the Greater Southern Waterfront plan was unveiled in 2013, Prime Minister Lee Hsien Loong laid out long-term development plans for the southern tip of Singapore with the introduction of a land area about three times the size of Marina Bay. URA “envisioned it to be a seamless extension of the city and will open up new live-work-play opportunities”. In addition, there were plans to extend the city centre southwards, integrating housing and businesses at the southern waterfront.
Pasir Panjang has been earmarked as one of the neighbourhoods which would benefit from the Greater Southern Waterfront project. Currently known more for its idyllic and laid back feel, all this is set to change when Pasir Panjang becomes part of a seamless southern belt, with both residential and commercial activities operating side by side.
The early property buyer catches the worm
Reports in major press have predicted a rise in home prices by 5-to-10 per cent by the end of 2018. Based on URA transaction data as of 14 March 2018, Condo and Landed prices from Q1 2017 to date have increased by 2.72% and 14.63% respectively. For property buyers looking to make a purchase in the real estate market, our recommendation is to do so sooner than later to get the most out of the predicted upswing, as we near the end of Q1 in 2018.
Property buyers in the Pasir Panjang area have the added benefit of first-mover advantage as it will take a few more years for the Greater Southern Waterfront project to fully move into action. Savvy homeowners and investors alike have much to look forward to with future capital appreciation that is expected to come with owning property in Pasir Panjang.
Pasir Panjang – expat haven and enclave
Mapletree Business City (MBC) is home to international anchor tenants such as Google and Samsung Asia. Properties in Pasir Panjang enjoy a captive audience of a highly-skilled expat community looking for rental options close to MBC.
Expatriates working further afield at Alexandra Business Park, Science Park, the National University of Singapore and One North can look to Pasir Panjang for accommodation, with its low-density living and resort-style vibes. The almost 2x jump in rental volume in the area – from 541 rental transaction in 2013 to 1,019 in 2017 – serves as a testament to this. In business-centric Singapore where things operate at break-neck speed, it is a bonus to come home to an urban oasis which offers a respite from the hustle and bustle of everyday life.
Properties in Pasir Panjang have the unique duality of being easily accessible from both the city and its various nearby employment nodes, while maintaining a relaxed vibe due to its proximity to the waterfront, as well as a smorgasbord of hipster cafes and watering holes that have set up shop in the area.
Holland Village is the current go-to location for expatriate community in Singapore. We see the beginnings of a vibrant and cosmopolitan expat community growing in Pasir Panjang, with momentum only set to increase as the next stage of the Greater Southern Waterfront master plan revs into action.
The Verandah Residences
As a nod to Pasir Panjang’s heritage for being the “millionaire’s row” back in the 1920s and 1930s where wealthy Chinese families built colonial style bungalows and holiday homes along the Southern coastline, units at The Verandah Residences are designed in the same classic black and white fashion.
Every unit comes with an attached balcony – the verandah living concept – which lets residents enjoy the same breezy way of life as tycoons back in the day did in their colonial holiday homes. In essence, this unique project has adapted the colonial look for apartment living, without compromising on the luxe factor and timelessness of this exclusive architectural style.
The Verandah Residences is a freehold 170 unit low-rise project that has 1 to 4 bedroom apartments, and three 2-story strata landed houses – offering homes of various configurations to suit the different requirements of homeowners and property investors.
MBC is located less than 2km and a two minute drive away from The Verandah Residences. Property investors can look forward to attracting quality tenants working at MBC who appreciate the twin benefits of being close to work as well as coming home to an urban sanctuary with quality finishings.
With Haw Par Villa MRT station being 600m away, residents are just a walking distance away from the nearest MRT station on the Circle line. Transport hubs such as Buona Vista Interchange and Harbourfront Interchange are a few stops down, affording easy transfer to the East-West line and North-East line respectively, making getting around Singapore via public transport a cinch!
For those who prefer to move around by car, convenient access to the Ayer Rajah Expressway and West Coast Highways translates to the CBD being a mere 10-minute drive away.
Find out more about The Verandah Residences and register your interest today!
These limited 170 units at The Verandah Residences presents a rare freehold opportunity near the southern waterfront.
Presented by Oxley Holdings Limited