Properties in Geylang Area: Potential?

[Daredevil]

I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

Here are my reasons: (and I am hoping someone can agree or disagree)
* Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
* Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
* The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
* You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
* Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

http://lushhome.wordpress.com/2007/0...nned-says-mah/

Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.

[Unregistered]

as first, pls understand my rousy english as im not a native english speaker.

I think Paya Lebar Sub-Regional centre will be a little bit northern area of Geylang. based on current road and public transportion construction, ie. KPE and Bartely to Tampines road extension, New MRT plan(from downtown to Tampines), it would be the above PIE region from upper paya lebr to ubi.

but regardless paya lebar development plan or not, Geylang has potential as it is located much close to the downtown.

[Unregistered]

Spelling error, I meant lousy not rousy.

[Unregistered]

I like Geylang area for it's proximity to town and central area but I heard that it's sometimes not easy to secure loan for properties in that region. Not too sure if that's true. Also my wife didn't like it.

[Daredevil]

I like Geylang area for it's proximity to town and central area but I heard that it's sometimes not easy to secure loan for properties in that region. Not too sure if that's true. Also my wife didn't like it.

Yes, you are right - this is one constraint. The Big 4 banks do not generally extend loans to Geylang (Lorongs) for ethical reasons. Certain banks only extend loans to the odd number lorongs (e.g Lor 27) which is perceived to have less red light activity. In any case, today, based on my recent purchase of Atrium Residences, only Hong Leong, RHB, Maybank will extend loans. I suspect that if the scenarios I pointed out earlier happen, more banks will jump on board.

Currently, women tend to feel a bit negative when walking in Geylang (try going there during the nights - you do not feel a sense of security). All kinds of negative factors - crime, etc - is associated with prostituition. This is why I feel that the govt, in time, will have to clean up since they are betting on IR and need to maintain the clean image of Singapore. From what I heard, the red light district caters mainly to the Bengladesh workers. My 2 cents is that Geylang will serve the foreign workers (skilled talents) working in IR or supporting the MICE industry and Geylang is presumably going to be much more affordable to live in then say, condos, in Fort Road area.

Hope I am not speculating too much here...but when such talents come here - their families come with them as well (Wife and children). And they need to feel safe. The govt knows that... and with the expected population increase, Geylang as a place to live in has got to be in that planning equation (given its close proximity to town).

The transition of Geylang (if it happens) will probably be decided by 2 factors:
* Govt policy (as part of the 2008 Master Plan)
* Private developers who already see the potential I pointed out

At the end of the day, red light district aside, Geylang has got lots of heritage and good food too.

[Unregistered]

I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

Here are my reasons: (and I am hoping someone can agree or disagree)
* Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
* Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
* The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
* You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
* Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

http://lushhome.wordpress.com/2007/0...nned-says-mah/

Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.

Good for you. I can tell you why.
1). Rental yield will be very high. One 3-bedroom unit can be rented out to 9 tenents. 9 tenents pays $400X9=3,600. $3,600/mth is very good yield. BTW some prostitutes or so called "students" can even squeeze 4 in 1 room. Do not think about capital gain. Yield will be the one to target.
2). Own stay is very good for single man. I know of a few owners of geylang units that stay there as landlord and jagar the "students". Every month not only can he make money from his condo, he gets "free XXX" as well .

[Boon]

hahaha..I totally agree with the reasons - both the original and follow-up ones! But on a serious note, I myself think its a matter of time before we see what you have mentioned. And the major hurdle like you mentioned is to get your spouse to agree to it!! Maybe I can help with my own take of the situation...

The fact that the red light dictrict can be shifted effortlessly (although where it goes to will take some PR work as residents - presumably the women - near the new vicinity would be strongly against it) makes it all the more easier for such a relocation to take place. Proximity to town is a given advantage. If anything I believe we are at the start of a "live in the city" property boom. 5 years ago when I bought my HDB, which is 10 min walk from Raffles Place, my wife's colleagues were jesting "why do you want to stay and work in the same place?"...and this was not only one but a few colleagues. The same people now are looking to buy into central apartments. Naturally as this goes on, the spillover willbe felt in all directions as the demand fans out incl to geylang.

Just visualize this - by 2020, Singapore will effectively be a Greater Metropolitan or a Megacity, whereby the whole island is just one big city (today, you can argue that the CBD/orchard belt is the city and the HDB heartland are the suburds - and the "city" has now in fact grown to Bugis/Vivio/Suntec which represents all the spillover directions: north, west, east). As in other metropolitan cities, residential prices will correlate with the distance from the centre of the Mteropolitan which in our case is Raffles Place/Orchard. If one were to take this a step further, then imagine that by 2040, this tiny island would be so expensive and crowded that people would start staying in South Johor and commute door-to-door @ 2 hours just to get to Raffles city. It's not far fetched - people are already doing so in other countries...just that we are already complaining if we travel from Woodlands to Raffles!

[Geylang united]

Staying in geylang is every mans' dream(Especially old men with lots of CPF money). Approximaty to Good Food(Beef noodles,Hokkien noodles,Wok rice...),
Good mix of people(Multiracial area with lots of Indian,china workers,tourists of high net worth with lots of money to spend), Good range of businesses(Food[all types of flavours], Hotels[by the hour], Internet cafe[have to type in chinese], IR[make shift tables having 9 numbers for betting], foot messages reflexology[can message your third feet if you want], Ktv[family orientated, with many kind and friendly ladies to sing with you or sing you.]
Houses with lighted numbers[provides quick stress relief for a better man].)
Good service(Within all the lorongs of geylang, there are many freelance SERIVCE providers to give you instant resolution to all your problems.
With all said, enjoy your stay there. You are the envy of all men in singapore.

[Just my thoughts]

No though there are many good food in Geyland. However, I'll only go there for food, not for staying. Besides getting wife permission and consider her safety, if you have children you will also want to think twice on the negative effect on the youngs.

[Daredevil]

There are pretty decent condos in the Geylang area: Simsville, Sims Residences, Aston Mansion, Central Grove, The Alcove. Because of the bad image of Geylang, these places are all affected by the negative perception - although they are away from the main Red Light district (under Lor 20)

It will be interesting to see what happens when the Master Pan 2008 is revealed. In the meantime, looks like from the response I am seeing in this thread, the negative Geylang perception still rules...

[Boon]

I think we have to differentiate between buying the now geylang to stay and buying for its future potential for investment. Now - yes I agree not a good proposition (its true that some banks do not want to finance or have limits). But for the future, I see unlocked value if one can afford to wait and be among the first to lock in.

[surfers]

Moving the red light district has been in talks for many years. I seriously don't think it will be any time within even the next 10-20 years.

I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

Here are my reasons: (and I am hoping someone can agree or disagree)
* Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
* Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
* The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
* You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
* Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

http://lushhome.wordpress.com/2007/0...nned-says-mah/

Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.

[tell you the truth]

I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

Here are my reasons: (and I am hoping someone can agree or disagree)
* Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
* Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
* The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
* You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
* Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

http://lushhome.wordpress.com/2007/0...nned-says-mah/

Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.

To tell you the truth, you have looked too far into the future and you have messed up like a fool. There are plenty of potential buys still, apart from geylang area. As long as the red light district which i see is getting even more ridiculous, grows instead of shrinking. You will be screwed. You go check out geylang tonight on a sunday night, then you tell me if the GOV is genuinely going to do something about it. This daredevil really is a risk taker.
I think he wants an excuse to CALL CHICKEN everynight.

[Daredevil]

To tell you the truth, you have looked too far into the future and you have messed up like a fool. There are plenty of potential buys still, apart from geylang area. As long as the red light district which i see is getting even more ridiculous, grows instead of shrinking. You will be screwed. You go check out geylang tonight on a sunday night, then you tell me if the GOV is genuinely going to do something about it. This daredevil really is a risk taker.
I think he wants an excuse to CALL CHICKEN everynight.

There are clowns like you who jump to conclusion (and generalize) and there are serious investors (like those who are sharing their thoughts in this thread) who are looking for opportunities and making sense of current developments. You can make it out such that every corner of Geylang is a prostitute den. There's Geylang East, Central, and the Lorongs (which is the topic of this thread)

For the record, the Atrium Residences is sold out completely. One investor bought 21 units (out of total 149 units) - and a senior executive from DHL bought a pent house unit. I purchased a 3-room freehold unit for under $600k (while Waterina, which is just a stone's throw away, cost $750k for a similar unit). Note that these condos are also near the Guillemard side of the road (it takes 5 min just to get to the Sports Hub).

As Boon mentioned, we are looking at the future - not now... only time will tell. And I qualify that we will have a better picture when the Master Plan for 2008 is out.

[In the Know]

Geylang properties definitely have potential. Location fundamentals are good (near city, near traffic access like expressways, a couple of MRT servicing the area) except for one minor detail (prostitutes).

As you can see, Geylang area has lots of pros, and only one con. Remove that one con, you get a highly desirable residential area strategically located between the city and the East Coast, with a great view of Marina Bay to boot!

[Unregistered]

Geylang properties definitely have potential. Location fundamentals are good (near city, near traffic access like expressways, a couple of MRT servicing the area) except for one minor detail (prostitutes).

As you can see, Geylang area has lots of pros, and only one con. Remove that one con, you get a highly desirable residential area strategically located between the city and the East Coast, with a great view of Marina Bay to boot!

Some time back the same question was ask to MM Lee during an open forum. MM Lees reply is candid and straightforward. Prostituition is legal in Singapore and the government stand is that it will not intervene and will let market forces decides. So unless, there's a "big giant developer" who is willing to "buy out" the protitution business (provided there's willing seller), I don't think the "con" will go away in many years to come. The prostituition business is too lucraty to let go as new license will be difficult to acquire. MM Lee even jested about having to compete with Batam, when someone suggested shifting the entire Geylang prostitution business to a S'pore island instead to contain it. With such reply from the man himself, buying Geylang is a real gamble. But I believe the time will come for prostitution business to be shifted out of Geylang, except that it will not be in my lfetime...Good luck to the punters of Geylang.

[Unregistered]

Some time back the same question was ask to MM Lee during an open forum. MM Lees reply is candid and straightforward. Prostituition is legal in Singapore and the government stand is that it will not intervene and will let market forces decides. So unless, there's a "big giant developer" who is willing to "buy out" the protitution business (provided there's willing seller), I don't think the "con" will go away in many years to come. The prostituition business is too lucraty to let go as new license will be difficult to acquire. MM Lee even jested about having to compete with Batam, when someone suggested shifting the entire Geylang prostitution business to a S'pore island instead to contain it. With such reply from the man himself, buying Geylang is a real gamble. But I believe the time will come for prostitution business to be shifted out of Geylang, except that it will not be in my lfetime...Good luck to the punters of Geylang.

We need somebody like Donald Trump or Li Ka Shing.

[Unregistered]

We need somebody like Donald Trump or Li Ka Shing.

Geylang will always be Geylang.....infested with Prostitutes, gangsters, loansharks, gambling dens, drugs hangouts......The govt. will not tilt anything when the whole Geylang is so well balanced by itself.....The govt. has created this place to be so special and place it under specialise attention and in a way is very well managed...I would not want to even think that our govt. will shift Geylang...Not for the IR..not for any other reasons! Anyway people come IR need to have a "f..K" as well, so just 10 minutes taxi down nicoll highway and they enjoy all these services...The Govt. long has it planned...So, to see into the future for punting properties in Geylang, I think that guy is too far-fetchted!.. Rather if he is thinking of opening a sex "mess" and renting out to "high-rollers" to enjoy...definitely can get high rental yields!

[Unregistered]

Geylang will always be Geylang.....infested with Prostitutes, gangsters, loansharks, gambling dens, drugs hangouts......The govt. will not tilt anything when the whole Geylang is so well balanced by itself.....The govt. has created this place to be so special and place it under specialise attention and in a way is very well managed...I would not want to even think that our govt. will shift Geylang...Not for the IR..not for any other reasons! Anyway people come IR need to have a "f..K" as well, so just 10 minutes taxi down nicoll highway and they enjoy all these services...The Govt. long has it planned...So, to see into the future for punting properties in Geylang, I think that guy is too far-fetchted!.. Rather if he is thinking of opening a sex "mess" and renting out to "high-rollers" to enjoy...definitely can get high rental yields!

Some time back the same question was ask to MM Lee during an open forum. MM Lees reply is candid and straightforward. Prostituition is legal in Singapore and the government stand is that it will not intervene and will let market forces decides. So unless, there's a "big giant developer" who is willing to "buy out" the protitution business (provided there's willing seller), I don't think the "con" will go away in many years to come. The prostituition business is too lucraty to let go as new license will be difficult to acquire. MM Lee even jested about having to compete with Batam, when someone suggested shifting the entire Geylang prostitution business to a S'pore island instead to contain it. With such reply from the man himself, buying Geylang is a real gamble. But I believe the time will come for prostitution business to be shifted out of Geylang, except that it will not be in my lfetime...Good luck to the punters of Geylang.
Good for you. I can tell you why.
1). Rental yield will be very high. One 3-bedroom unit can be rented out to 9 tenents. 9 tenents pays $400X9=3,600. $3,600/mth is very good yield. BTW some prostitutes or so called "students" can even squeeze 4 in 1 room. Do not think about capital gain. Yield will be the one to target.
2). Own stay is very good for single man. I know of a few owners of geylang units that stay there as landlord and jagar the "students". Every month not only can he make money from his condo, he gets "free XXX" as well .
All of the above, tells you something daredevil. That you are not very bright.

[bright future]

There are clowns like you who jump to conclusion (and generalize) and there are serious investors (like those who are sharing their thoughts in this thread) who are looking for opportunities and making sense of current developments. You can make it out such that every corner of Geylang is a prostitute den. There's Geylang East, Central, and the Lorongs (which is the topic of this thread)

Ignore those clowns. They do not know what they are talking about. Those clowns just skim the surface and don't look deep enough into the issue.

For the record, the Atrium Residences is sold out completely. One investor bought 21 units (out of total 149 units) - and a senior executive from DHL bought a pent house unit. I purchased a 3-room freehold unit for under $600k (while Waterina, which is just a stone's throw away, cost $750k for a similar unit). Note that these condos are also near the Guillemard side of the road (it takes 5 min just to get to the Sports Hub).

I have been to view Atrium Residences. Very very impressed, especially with the pricing. I just hope the completion of this property will kick start the rejuvenation of Geylang Lorongs. Such a good location, absolutely wasted to have vice activities around.

As Boon mentioned, we are looking at the future - not now... only time will tell. And I qualify that we will have a better picture when the Master Plan for 2008 is out.

Just less than a month ago we would never have thought Riverine by the Park which is so near Geylang could have sold for as high as $1700 psf. Today Riverine is sold out (or almost) at record breaking prices.

A year ago we would never have thought property prices could hit $4000 psf. Today it looks likely to hit $5000 psf.

You are right. Only time will tell. Fortune rewards the brave. Entrepreneurs with the sharpest acumen will win in the end.

[Unregistered]

Just visualize this - by 2020, Singapore will effectively be a Greater Metropolitan or a Megacity, whereby the whole island is just one big city (today, you can argue that the CBD/orchard belt is the city and the HDB heartland are the suburds - and the "city" has now in fact grown to Bugis/Vivio/Suntec which represents all the spillover directions: north, west, east). As in other metropolitan cities, residential prices will correlate with the distance from the centre of the Mteropolitan which in our case is Raffles Place/Orchard. If one were to take this a step further, then imagine that by 2040, this tiny island would be so expensive and crowded that people would start staying in South Johor and commute door-to-door @ 2 hours just to get to Raffles city. It's not far fetched - people are already doing so in other countries...just that we are already complaining if we travel from Woodlands to Raffles!

This is a very convincing argument. One only needs to refer back to the historical growth of cities like HK, Shanghai, Tokyo, Los Angeles, Chicago, New York, London, etc to see that the same is happening to Singapore.

There will be a day very soon when Geylang is included in 'downtown Singapore'.

[Boon]

While some will disagree with me, I think Bugis serves as a good example of how a previously "tainted" area could be turned into a totally different development in a matter of 10-20 years.

Bugis Street, in the city-state of Singapore, was renowned internationally from the 1950s to the 1980s for its nightly gathering of transwomen, a phenomenon which made it one of Singapore's top tourist destinations during that period.
In the mid-1980s, Bugis Street underwent major urban redevelopment into a retail complex of modern shopping malls, restaurants and nightspots mixed with regulated back-alley roadside vendors. Underground digging to construct the Bugis MRT station prior to that also caused the upheaval and termination of nightly transgender sex bazaar culture, marking the end of a colourful and unique era in Singapore's history.
http://en.wikipedia.org/wiki/Bugis_Street

[Unregistered]

Geylang will always be Geylang.....infested with Prostitutes, gangsters, loansharks, gambling dens, drugs hangouts......The govt. will not tilt anything when the whole Geylang is so well balanced by itself.....The govt. has created this place to be so special and place it under specialise attention and in a way is very well managed...I would not want to even think that our govt. will shift Geylang...Not for the IR..not for any other reasons! Anyway people come IR need to have a "f..K" as well, so just 10 minutes taxi down nicoll highway and they enjoy all these services...The Govt. long has it planned...So, to see into the future for punting properties in Geylang, I think that guy is too far-fetchted!.. Rather if he is thinking of opening a sex "mess" and renting out to "high-rollers" to enjoy...definitely can get high rental yields!

Agreed that to "enbloc" Geylang only Li Ka Shing and the like has the monetary might to do so. Issue here is whether the Return of Investment (ROI) is attractive enough, else they have better place to put the money. (Not their S'pore anyway). Another issue is whether the prostitution operators are interest to "enbloc". If not, then only the government could "force them" to do it. But by forcing them, it is against the concept of "market forces" and make S'pore looks like an autocratic state (bad image for S'pore). With all these factors, it will take long long (beyond 2018 - latest MRT line tgt dte) for Geylang to be clean-up. MM Lee also ask which estate would want to volunteer for the relocation? I think the government knows that shifting the "problem" is also not the solution, especially when the business is legal in the law of S'pore. Since it is legal, then perhaps can suggest to the government to do upgrading (MUP) instead of relocation. First class IR and first class "Geylang" side by side will sure attract more tourist to S'pore and surely increase your rental yields as well.

[Unregistered]

People respond differently and you call them clowns! What's these men? Must people all think like the way you think else they are clowns!

I simply giving a piece of my mind in case people rush in and got the wrong buy for wrong reason.

Geylang is fine if you are looking to buy for rental or as a "relaxation" mess, or keep a mistress etc...but not as a family place.

Would one wants the wife to be looked at as if she is a prostitute, or the children to grow up seeing all these prostitutes, young / old men lurking around...etc...c'mon.. these are problems...that's why the prices appear good and will be for a long time unless rental yields become 10% then prices start to move up correspondingly because too good for investment.

As for Geylang to be changed to be a "family" place, i think it would be impossible in our lifetime as this has been the most "cultural" and recognisable location of S'pore and also logistically just too impossible for the govt' and police after it is functioning so well! Why disturb it when this criminal infested location is operating so well and any criminals lurking in this region can be pulled up by CID anytime if some crime has been committed in S'pore etc.

[Unregistered]

Would you mind posting some pics or renderings of the Atrium Residences? Am quite curious what it is about.

I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

Here are my reasons: (and I am hoping someone can agree or disagree)
* Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
* Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
* The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
* You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
* Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

http://lushhome.wordpress.com/2007/0...nned-says-mah/

Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.

[Daredevil]

Would you mind posting some pics or renderings of the Atrium Residences? Am quite curious what it is about.

Sure. I searched the Net and found this URL: http://www.jentan.com/projects/Atrium/index.aspx
It gives pictures of the property and a panaromic 3D view.

But a friendly warning if you are buying any condo in Geylang:
"Family Forfeits $22,000 in booking fees for Condo in Geylang" (It concerns this same condo)
http://www.sghousing.com/2006/07/page/2/
(this was before the IR craze started... )

... more controversy that makes this thread even more juicy.

[Unregistered]

i am keen to buy a apt/condo in geylang and rent out. problem is bank does not grant loan. personally i feel it is good investment as long as the property can be rented out 90% of the time and then the rental can cover the instalment

what is the expected rental yield for atrium residence?

[Unregistered]

Atrium fully sold? how come i still see them advertising?

[Unregistered]

Even if red light is not moved out of Geylang, the good rental yield (since price are cheap) would still make geylang a good investment.

of course u may face prblm shd u want to sell in future (as bank are generally unwilling to grant loan) but as long as plan to keep it to collect rental income i think it is a worthwhile investment

I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

Here are my reasons: (and I am hoping someone can agree or disagree)
* Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
* Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
* The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
* You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
* Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

http://lushhome.wordpress.com/2007/0...nned-says-mah/

Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.

[Unregistered]

Refering to the article, why didnt the person take up the loan from finance house since Finance house are willing to grant him a loan?

the article mentioned that he worried that he may have problem selling his house in future so he rather give up 22k.

if he is staying in geylang for the long term he should take up the loan with hong leong than to lose the 22k.

maybe Finance house charge higher interest?

anyway i personally think earning 50k a year is not consider high income + a car loan made him less credit worthy despite having a good credit history.

Sure. I searched the Net and found this URL: http://www.jentan.com/projects/Atrium/index.aspx
It gives pictures of the property and a panaromic 3D view.

But a friendly warning if you are buying any condo in Geylang:
"Family Forfeits $22,000 in booking fees for Condo in Geylang" (It concerns this same condo)
http://www.sghousing.com/2006/07/page/2/
(this was before the IR craze started... )

... more controversy that makes this thread even more juicy.