Table of Contents
What is the possible investment created after Geylang’s rezoning?
Way back January 13, 2015, a proposition to rezone some portions of Geylang, covering residential institution down commercial institution was divulged by the Urban Redevelopment Authority.a The imminent launch of the fast-selling Rezi 24 is proud of its unparalleled moment for investors and families alike to be involved in a thriving district over a prime parcel of a freehold development.
Located along with few steps from Singapore’s Sporting Hub and National Stadium, Rezi 24 endorsed a host for its health and wellness and clubs and also lifestyle amenities such as educational institutions, shopping centres, food hubs and other resort-like features. This freehold housing having more or less 110 luxurious units that sell like pancakes.
Gerald Tay, the expert of Geylang district. shared his view about Geylang’s rezoning goals and the approaching opportunities of buyers, sellers and investors. Since 2001, my source of information for property sales or great buy properties is always the Geylang. Sometimes people will misinterpret me as an addict in buying properties in Geylang, but I reap what I sow, profits are getting in, said, Gerald Tay. In previous years, Gerald Tay foresaw that Geylang will have abundant and greater chances both in the residential and commercial landscape, along with its high-end location strategy, excellent government dynamism.
[su_box title=”New Condo Launching in Geylang”]
[/su_box]
What does rezoning implies for the current property holders of Rezi 24 of Geylang?
Rezi 24 at Geylang and Noma are the latest freehold apartment selling at District 14, Lorong 24 Geylang, Singapore. Developed by the time tested developers Heeton Holdings Limited, KSH Holdings and SLB Development Ltd. The Urban Redevelopment Authority (URA) plans to rezone particular areas along Geylang Road, Lorong 4 Geylang, Lorong 22 Geylang and Guillermard Road, which means from Residential Housing / Institution to the newest Commercial development /Institution zoning, but doesn’t cover those portions of areas zoned for roads, also the areas front of Geylang Road, sports field near areas of Lorong 12 Geylang and Talma Road.
Is the rezoning yields a positive or negative effect over en bloc potential?
The rezoning has foreseen to augment land values around the areas thus spurring collective sales. Having the recent 2.8 plot ratio freehold land along with the less pricey en bloc properties, the investors and developers will consider Geylang as profit-making area. The positive side of every freehold residential properties along Upper Lorong which are bit older, smaller in terms of size plus being more cost-effective especially to en bloc developers.
With the big chance of profit from investors or developers connecting current residential clusters via collective sales ways for redevelopment. All knew that by 2030, the famous Paya Lebar Airbase would be transferred to cater Huge construction rates over the region, the smart developers continuously grab the chances since early years due to economic purposes. What could be the vision of the government for Geylang as the business hub?
How will it sync with the Kallang and Paya Lebar business centres/hubs? Rezi 24 Residences prudently nestled around city fringe and the convenience of the busy Dakota MRT and land transport connectivity functioning as main fringe centres for the fastest access to Marina Bay, CBD and to the rest of city centre, Geylang’s setting and its brand created a big thorn over roses for the Singaporean government.
For about 15 years, the government imposed a stricter remedy to stop fraud activities common in that specific area like the gambling and illegal walking in the street. The contemporary Geylang is too far from the past Geylang. With the present goal, we can foresee assets values and rental source ascending sharply due to the synergy right in the district being the business centre along with its neighbouring business hubs.
The present commercial development along Marina Bay, Tanjong Pagar, Paya Lebar plus the ejection of Paya Lebar airbase soon in 2030 would magnify more of Geylang’s reputation and commercial viability as the most sought place to live and grow old and great for legitimate commercial activities.
Should investors try their luck for more opportunities in Geylang, if have not started any investment yet? and do you believe the sellers would have offered over proposed changes?
Way back 2003 the Geylang development tag price per square foot was $300. In 2014, per square foot was less than $1000, priced for bit old freehold properties around the area thus making Geylang one of the most famous affordable developments both for business and family residence. Geylang boasts its 4 MRT stations within a radius of 12 minutes of walking, while Dakota MRT which is the farthest. It is super easy to reach main expressways like the CTE, MCE, PIE, KPE and ECP. Only as short as a 20-minute drive to Marina Bay, CBD and incoming Tanjong Pagar redevelopment districts.
IN CONCLUSION
A few steps away, multiple MRT stations can be found and connected straight to the island-wide parade of train lines to bring you to any destination. Plus the infinite expressways, and nearby Nicoll Highway, the city is only 7 minutes drive. Together with the transformation happening at Kallang and Paya Lebar, this Geylang being in-between will likely be the next talk of town for transformation too.
