Originally Posted by
jslee78
Singapore is in the process of decentralisation as its population rises. MRT stations no longer located mostly at HDB new towns, but have now spreadout to cover many private residential areas. There is a big improvement in term of public transport accessibility and convenience. Local and regional shopping centres have also brought the daily basic needs to the doorsteps of residential neighbourhood. It is also the government long term plan to bring works to the various regoinal centers so that the distance and time for travelling to the workplace is lesser. It will also free up more road capacity, etc.,. With so much infrastructure spending in OCR regions, the rise in the price of PC in OCR is predictable. Noted that the locations for GLS in OCR areas have the tendency to be near MRT stations. The buyers in OCR area are mostly Singaporean, one important factor for consideration is the daily living cost, particularly for own stay, which is perceived to be lower in OCR than in CCR areas. Majority of the buyers will choose to stay in an area of lower daily living cost. Nowadays, even Indonesia buyers find values in OCR, some of them have moved away from D9,10,11 and penetrated into OCR areas. Decentralisation have indeed increased the values to OCR areas! As for CCR, It can be seen that it is also in the process of transformation and the creation of new centres; The traditional centre of the city, Orchard road district has recently been challenged by new comer, the marina bay new downtown. The turf of the rich is no longer just concentrated at D9,10,11, but have expanded to sentosa, shenton way/marina bay,etc., A variety of centres in CCR will emerge in the long run that cater for different niches. I believe CCR will always have its appeal and will always command a premium. However, what is attractive to majority of the buyers nowaday is affordability and small quantum value. without an increase in the number of foreign buyers in the market, the property price in CCR may be undervalued in comparison to that of OCR, but it will continue to suffer from the lack of buyers.