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Thread: Properties in Geylang Area: Potential?

  1. #121
    laukwaybu Guest

    Default Re: Properties in Geylang Area: Potential?

    RENTS GO UP, SHOPS MOVE
    By Hedy Khoo
    May 12, 2008

    FORGET the red-light district.

    The way rents are going, Geylang is now the red-hot district.

    The demand for properties between Lorong 1 and 25 is so hot that rents have shot up, and some long-time businesses are being forced to move out.

    One such casualty is the famous Tanjong Rhu Pau.

    It had to give up its lease for its Lorong 21 corner unit because the landlord more than tripled the monthly rent, from $9,000 to $30,000.

    Said the boss of Tanjong Rhu Pau, Mr Yap Peng Wah, 62: 'We had to move. We had no choice.'

    The increase meant an additional monthly expenditure of $21,000 on the 1,600 sq ft unit.

    'We would not be able to sustain our business with such high overheads,' said Mr Yap.

    He explained that his manpower costs are high as he has to employ more than 10 employees to make the buns and pastries by hand.

    'Even with a rent between $10,000 and $20,000, the business would not be profitable,' he added.

    So Mr Yap moved to another 1,600-sq-ft unit, at the corner of Guillemard Road and Lorong 34.

    His rent there? Just $4,500.

    'The rent here is half of what I paid previously, but business has dipped by about 30 per cent,' he said.

    'Some of our old customers happen to drive by here and spot us. Most say they were wondering where we had moved to.

    'The only good thing is this part of Geylang is less complicated.'

    MISTAKEN FOR PROSTITUTES

    His partner, Mr Lee Kwang Hua, 52, said: 'At our previous location, we lost some female customers, because they complained that some men mistook them for prostitutes when they come to our shop.'

    Still, Mr Yap had hoped to relocate within the same part of Geylang initially.

    'It was impossible to find a unit in the same area because the prices kept climbing,' he said.

    'It's a landlord's market there because many businessmen want to open coffeeshops in the stretch between Lorongs 6 and 25.'

    Mr Yap attributes the property boom along this stretch partly to the active night life.

    'The general property boom did push up the property prices, but here in Geylang it is also because of the presence of the women,' he said.

    'A lot of businesses want to open coffeeshops here because there is so much human traffic. The retirees come from all over Singapore to look at the girls and hang out at the coffeeshops.

    'Without them, the coffee-shop businesses would collapse,' he commented.

    He cited the example of a coffee shop on Lorong 23.

    'Between 1997 and 1999, the coffee shop changed ownership because the business was poor,' he said.

    'But once the China girls appeared in the area around 2000, all the men came, and now the business there is booming.'

    Yong He Eating House, a favourite haunt among foodies, also had to move out because of the sky-rocketing rent.

    The eatery, which has been selling its Taiwanese soya beancurd and youtiao in Geylang for the last decade, moved to a Lorong 27A corner unit in January.

    $20,000 TO $40,000

    Mr Dong Rong, 50, the boss of the eatery, said his landlord at the original location near Lorong 9 had wanted to double the rent from $20,000 to $40,000. The lease for the 2,200 sq ft unit expired last December.

    He now pays $28,000 a month for a 3,600 sq ft unit.

    'The property market boom is the main reason, but the China girls also played a part in driving up business in the area,' he said in Mandarin.

    'There was a scramble to open coffee shops to catch the business from the men who come to Geylang to look at the girls and chat them up.

    'It doesn't cost much to drink a coffee or have a beer and they can sit there all day to look at the girls and make friends with them.'

    But while the coffee shops thrived on the constant flow of business from male customers who flock to Geylang to gawk at the prostitutes, it did little to boost his business.

    He said: 'Our customer base is different, we attract locals and tourists who come here for our Taiwanese snacks.'

    PARKING PROBLEM

    Indeed, he felt the volume of traffic in this part of Geylang was not too good for his business.

    'Too many cars, and there is always a traffic jam. Many of our customers complained that they could not find parking in the area, so they would stay away,' he said.

    He finds his new location better, as parking is less of a problem for customers.

    The bigger space also suits his plan to expand his eatery into a Taiwanese food court.

    'The increased rent was a blessing in disguise for us,' said Mr Dong.

    'But other tenants who are still located in that stretch may have to move when their current leases expire.'

    On the other side of Geylang, business tenants have not been spared the rising rents hitting the popular stretch of Geylang Road.

    Near Lorong 21, along Sims Avenue, durian seller You Chee, 37, said his boss, who renewed the lease in January, is now paying $10,000 a month for the corner ground-floor shophouse.

    That is almost double the previous rate of $6,000 a month.

    Mr You said his boss is looking for another location, possibly out of Geylang.

    'We have no choice but to move. The rent is too high. We have seen many of the other businesses move out because of the increased rent,' he said in Mandarin.

    'We have been here for four years, and built up the business from scratch. I feel sad to leave this place.'

  2. #122
    Join Date
    Apr 2008
    Posts
    12

    Default Re: Properties in Geylang Area: Potential?

    Went to survey the area about a week ago and did not like the traffic there, both human and vehicle.
    More beneficial for shops but for staying... still prefer some where more serene.
    More suitable for investment & rental yield.

  3. #123
    Penthouse Fan Guest

    Default Re: Properties in Geylang Area: Potential?

    Was considering Geylang due to the close proximity to town, but after reading through the comments here, opt out of the idea. Dun think capital gain would be substantial.

  4. #124
    I can only afford CCB Guest

    Default Re: Properties in Geylang Area: Potential?

    People talking about GCB... I now only can buy CCB in Geylang.. sigh....

  5. #125
    Join Date
    Apr 2008
    Posts
    12

    Default Re: Properties in Geylang Area: Potential?

    Refer to URA transaction:
    REGAL 35LORONG 35 GEYLANGApartment590,0001,808326Apr-08

    Freehold at 326psf.
    Really reasonable. Anyone willing to let go at similar price. Let me know.
    [email protected]

  6. #126
    Sniper Guest

    Default

    Wow, for those who have bought more than $600 psf in Geylang, good luck to u :-)

  7. #127
    Unregistered12 Guest

    Default

    Quote Originally Posted by Sniper
    Wow, for those who have bought more than $600 psf in Geylang, good luck to u :-)
    Really? is that because as soon as kallang and paya lebar are up and running the price will drop to 300 psf? People like you amaze me. Please let me know ure rational, do you think that if they develop kallang and PL they are going to leave 1 km of high density prostitution and gambling etc...

  8. #128
    Unregistered123 Guest

    Default

    Quote Originally Posted by Sniper
    Wow, for those who have bought more than $600 psf in Geylang, good luck to u :-)
    $600 psf get you a kim tian hdb flat??...compared to freehold condo at geylng with potential for development (near to IR, new sport hub, F1 track, new business district).

  9. #129
    Unregistered14 Guest

    Default

    I have been looking for condos at West (eg Infinity, Monterrey park), but was put off by the air quality (from the nearby factories). At least Geylang doesn't suffer poor air quality... I guest it's easier to remove pros than factories.

  10. #130
    Unregistered11 Guest

    Default

    Quote Originally Posted by Unregistered14
    I have been looking for condos at West (eg Infinity, Monterrey park), but was put off by the air quality (from the nearby factories). At least Geylang doesn't suffer poor air quality... I guest it's easier to remove pros than factories.
    Geylang suffers from disease!

  11. #131
    Unregistered11 Guest

    Default

    Quote Originally Posted by Unregistered123
    $600 psf get you a kim tian hdb flat??...compared to freehold condo at geylng with potential for development (near to IR, new sport hub, F1 track, new business district).
    nowadays everyone says their districts near to IR, new sport hub, F1 track, new business district ... hahaha ...and in Geylang, when they step out of their so-called prime properties, only pimp and china pros will greet them. To top it all, Geylang is more like a retirement district .. a lot of ah peks hanging around!

  12. #132
    Unregistered14 Guest

    Default

    Quote Originally Posted by Unregistered11
    nowadays everyone says their districts near to IR, new sport hub, F1 track, new business district ... hahaha ...and in Geylang, when they step out of their so-called prime properties, only pimp and china pros will greet them. To top it all, Geylang is more like a retirement district .. a lot of ah peks hanging around!
    Location won't run away...the few remaining places to develop when population hits 6.5 mil...jurong lake district might have limited potential as it is still far from central...kallang/geylang/payar lebar district would be near to all the excitements...so surely ura won't "waste" this goldmine in near future for the rots.

  13. #133
    Unregistered13 Guest

    Default

    Totally agree. Give it 3 years...

  14. #134
    D12 Guest

    Default

    If you guys want more safer and faster investment profit, top up a bit more and look for property in D12.
    There are still a lot of undervalued condo there.

  15. #135
    D14 Guest

    Default

    Might be a safer investment but the upside for Geylang is much higher, buy low sell high ;>

    time will tell...

  16. #136
    Unregistered 123 Guest

    Default

    I passed by Atrium yesterday, it looks almost built and it's really nice..the best condo along the stretch of geylang. I'm checking out advertisement but for past two weeks, there is no seller on this property. Is any one selling?

  17. #137
    Subsale Guest

    Default

    Quote Originally Posted by Unregistered 123
    I passed by Atrium yesterday, it looks almost built and it's really nice..the best condo along the stretch of geylang. I'm checking out advertisement but for past two weeks, there is no seller on this property. Is any one selling?
    Yah, got subsale and quite low psf too....but I gave up cos Geylang will always be a red light district....plus local banks won't loan up to 90% for below Lorong 30....so just beware....

  18. #138
    Subsale Guest

    Default

    Quote Originally Posted by D14
    Might be a safer investment but the upside for Geylang is much higher, buy low sell high ;>

    time will tell...
    Rental yields will definitely be good if u can squeeze a bunch of banglahs or dalu meis in your unit. Capital appreciation will follow becuase of the rental yields...but won't be as much....

  19. #139
    istari Guest

    Default Atrium

    Anyone know when this condo will be completed. 6 months? 12 months? It looks really nice but I heard prices have risen from S$350 psf to around S$600 psf in the last couple of years. IS this true???

  20. #140
    Join Date
    May 2008
    Posts
    50

    Default Not True

    Nonsenses

    Please see the site

    http://www.nationproperty.sg/

    Choose the Atrium Residences.

    You will see some are 3XX and some are 6XX

    Reasons being the larger unit has big PES and balcony and small unit do not have.

    Wake up.

    Loan only possible from Finance Bank not the Big 4 and only loan you for 70%.

    BUT.......... Good for Rental income.

    If all Chicken fly esle where such as Kranji. BOOM, property will shoot up 100%.

    Come true? Wait Long Long.

    Unless they build muti-story CHicken Farm in Kranji.


  21. #141
    Unregistered 456 Guest

    Default

    Quote Originally Posted by istari
    Anyone know when this condo will be completed. 6 months? 12 months? It looks really nice but I heard prices have risen from S$350 psf to around S$600 psf in the last couple of years. IS this true???
    The S$350 psf is the initial penhouse price at launch in 2006...avg sq ft is 2000sqft...so avg price was S$700k...not bad for freehold property...now probably selling at S$550 psf....still cheaper than most penthouse with 99 yrs around that area...and Cosmo is selling >1000 sqft (even nearer to red district)...

    well, like what URA says, it would take another 5 years for the price to appreciate further once the masterplan 2008 is announced...It looks like atrium will complete in 6 mths..anyway, those bought at low, congrats.

  22. #142
    Unregistered14 Guest

    Default

    The building seems almost ready, but not sure it completes within 6 months. Outside this building, the shop houses look ready.

    Only a small number of "ladies" are standing at the road at Lor28, in dark areas between parked cars, at certain time at night (probably after 10pm) but confined at a small area. I think they are illegal, soliciting business on passing-by cars. Otherwise, the street is quite clean.

  23. #143
    District Guest

    Default

    Quote Originally Posted by rayaw
    Nonsenses

    Please see the site

    http://www.nationproperty.sg/

    Choose the Atrium Residences.

    You will see some are 3XX and some are 6XX

    Reasons being the larger unit has big PES and balcony and small unit do not have.

    Wake up.

    Loan only possible from Finance Bank not the Big 4 and only loan you for 70%.

    BUT.......... Good for Rental income.

    If all Chicken fly esle where such as Kranji. BOOM, property will shoot up 100%.

    Come true? Wait Long Long.

    Unless they build muti-story CHicken Farm in Kranji.



    What so difficult to clean up that area. Only just a handful of chicken there mah...because now the street is dark due to construction

    ....once the building ready, the building will light up the street, the chicken will sure go away....not enough... local residents protest, frequent police reporting, or shaming the cars talking to checken and post in internet (with pics on car plates)...sure effective..ha, ha

  24. #144
    Unregistered 0325 Guest

    Smile

    I bought a unit at Atrium in '06 from developer. Not too concerned about the stigma - reality is the prostitution problem is now everywhere. Impt is I like the project and I got a FH property at a really affordable price - and I can move to a more central location. I saw some discussion on Internet about difficulty obtaining loan for properties in Geylang. My personal experience is actually not bad - obtained loan from 3 Banks, 80% at their promotional rates, finally decided on Maybank. So best to check it out yourself.

    Fellow Atrium owners out there, if you have news on when the project will TOP, please share. I drove by last week, the facade is almost complete but Novelty is known to take their own sweet time with internal finishing.

    Cheers

  25. #145
    Unregistered888 Guest

    Thumbs up Fourth Singapore university

    GUILLEMARD???

  26. #146
    Another Unregistered Guest

    Smile

    Quote Originally Posted by 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...
    You are wrong. There are many china pros staying in Alcove and Central Grove. In the latter, many of them come here on student pass and moonlight as pros. Anyway the Master Plan 2008 has come out

  27. #147
    Join Date
    May 2008
    Posts
    50

    Default Pro - 20, 30 ,40

    Are you always contacting the pro.

    How is their service. you must be shiok?

  28. #148
    Cannot be helped Guest

    Default

    You come to Geylang, you come to the home of the pros

  29. #149
    Sad Dick Guest

    Default

    Quote Originally Posted by Unregistered
    Ya, got potential.
    In line with the legalisation of homosexuality, also suggest that Geylang be developed into a real Gay World for the people. Change the name to Gayland. hehe.
    Please don't insult the gays

  30. #150
    Unregistered2 Guest

    Default

    Quote Originally Posted by Unregistered 0325
    I bought a unit at Atrium in '06 from developer. Not too concerned about the stigma - reality is the prostitution problem is now everywhere. Impt is I like the project and I got a FH property at a really affordable price - and I can move to a more central location. I saw some discussion on Internet about difficulty obtaining loan for properties in Geylang. My personal experience is actually not bad - obtained loan from 3 Banks, 80% at their promotional rates, finally decided on Maybank. So best to check it out yourself.

    Fellow Atrium owners out there, if you have news on when the project will TOP, please share. I drove by last week, the facade is almost complete but Novelty is known to take their own sweet time with internal finishing.

    Cheers
    with soaring fuel prices, agree that moving to a central location is a good move. save you a lot of time and time is precious.

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