http://www.straitstimes.com/archive/...uyers-20140520

Four areas with potential to attract property buyers

Published on May 20, 2014 1:25 AM

By Audrey Kang


PROPERTY experts yesterday singled out four potentially popular areas for home buyers: Jurong, Woodlands, Holland Village and the upcoming Bidadari Estate.

They were taking part in the STProperty Rise Up To The Challenges In The Singapore Property Market forum, held at The Star Performing Arts Centre.

Speakers from SLP International, Fortis Law and PropNex gave advice to more than 700 participants. They were backed by representatives from Dennis Wee Group (DWG), Knight Frank and ERA Realty Network.

Mr Nicholas Mak, SLP International's executive director and head of research and consultancy, said that as a result of the draft masterplan 2013, these four areas are likely to be very popular for developments.

The experts also talked about the likely impact of the upcoming high-speed rail system connecting Singapore to Kuala Lumpur on property prices.

Mr Mak said: "I think the location (of the rail system) will probably be in the west... Properties near the station will benefit, but properties located along the railway, where there are no stations, might see a depreciation due to the noise from the rail system."

He also said the property market here will most likely remain the same in the next two years.

Mr Denka Wee, DWG's head of business service, said mixed developments are gaining favour.

"Mixed developments are not anything new, but private property developers have been catching up lately. In the past, you had HDB buildings with coffee shops and convenience stores. Singapore needs convenience, and mixed developments are becoming more popular as a result."

Despite the slow private property market in the past few months, Mr Eugene Lim, ERA's key executive officer, said there is still demand, especially for homes in the higher price range.

"Sixty per cent of transaction volume now belongs to properties that cost from $800,000 to $1.6 million, and 20 per cent of transaction comes from properties that cost up to $800,000."

Property agents were also advised to be more cautious when dealing with clients, as there have been lawsuits brought by disgruntled buyers and tenants.

[email protected]