How to appreciate when the lease run down? In 20 years time, unless Singapore property's skyrocket (which is unlikely because our government will rein in any exponential growth), you can be fairly sure the value 60-year-old Bayshore Park will go down because whoever who buys can only stay 30 years.
But I must say, the east coast has become a India enclaves of sort - very popular with Indians. So maybe some indian expats may buy albeit the short lease as the lease runs down to 30 years?
Not sure if your goverment might do something about these Indian enclaves - the best is Meyer Road and Tanjong Rhu - really like Little India
******
East coast's sea view draws Indians
BY URVIJA BANERJI
THE Waterside, Laguna Park, Pebble Bay, Costa Rhu, Mandarin Gardens... these are just some of the condominiums that Indians flock to in Singapore.
Some of them, especially those that offer views of the sea off the East coast, can house more than 300 Indian families.
What is it that draws these Indians to this part of the island? Is it the view, the location or the proximity to others in the community?
Mrs Prabha Rao, who has been in Singapore for 10 years and has been living in the Waterside for eight years, admits: "I chose the East Coast because of the sea view. I also like the fact that East Coast Park is right next to us for our morning and evening walks."
Miss Manavi Sharma, who has been in Singapore for 17 years and has been living in Siglap for 14, sings praises of the facilities offered by the condominiums and neighbourhoods of the East:
"It's open, it's spacious and not that congested. There are a lot of facilities around the area, a lot of restaurants, good Indian restaurants, and good malls, such as Parkway Parade."
The proximity to the airport and the city centre via the East Coast Parkway (ECP) is also a plus factor.
Mr Kiran Deshpande, who has been in Singapore for 22 years and has been living in Mandarin Gardens for over 10 years, says: "I travel a lot and when I was choosing a place to stay, the proximity to the airport was very important at the time."
Though it may not be the deciding factor, living with hundreds of other Indians as neighbours has its advantages.
Mrs Rao says: "I don't miss India as much, because I have all my Indian friends just here. There's even an e-group for Indian Waterside residents and I can connect with all of the 200-plus Indian families that way."
Adds Miss Sharma: "You feel like you're back home. It's nice to go down and meet people who speak not only Hindi but also the different dialects. I'm half Maharashtrian so it's nice to go down and meet people who also speak Marathi."
So are there any downsides to living in the East?
Just one, according to Miss Sharma: "I think the only problem would be connectivity. I don't have an MRT nearby. The buses go everywhere but it just takes longer." The closest MRT station to Mandarin Gardens is Bedok, about 2km away.
This, however, is not a problem any longer for those staying in the Tanjong Rhu area. Since the new Stadium MRT station on the Circle Line opened in April, residents of the condominiums in that area - Pebble Bay, Costa Rhu and the Waterside among them - have seen their commute times shorten substantially.