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One of the major factor involve in arriving at a decision in purchasing a property to live is the maturity of an estate. Generally, most favored a mature estate than the non- mature estate. In fact, reading numerous forum discussion, blog posts and estate articles around the web proves that he mature estate has more advantage than the latter and won the approval of the majority.
What is maturity in the realm of a mature estate?
As an information for those who have less knowledge with the Singapore market, maturity of an estate simply pertains to its number of years existence or simply known as age. Those places that are existing over 20 years are believed to be matured. While those that are newly build are deemed non–mature.
To make vague lined bit clearer, the main distinction of mature estate from non mature estate is that commonly, mature estates are having better or advance amenities and a neighborhoods. Which means that there are malls, various malls and other business establishments. The “better amenities” argument is famous among those that supported mature estates. Let us dig deeper, check with other aspect sand see if mature estate is as advantageous as it used to be.
Mature estate used to be costly than their non-mature equivalents. All else are proportionate, prices goes up as high as 10 to 15 % in some cases. So it would be practical to think twice and analyze whether the chances in having a place nearer to the better amenities would be worth spending another 50 K or more.
The 99-years lease
It is a public knowledge that home ownership is only a 99-year lease, and the more mature the estate is, the lesser time is left for you to live in that particular home. Therefore it is understood, acquired mature estate have shorter lifespan, it is expected then that value goes same case.
As expected, this is something which Singaporeans ignores and when some mature estate turns more expensive than the non –mature, same, sooner or later that ticking time bomb will start to double its action, if that time arrives, the younger is the HDB, the better would it be.
Broader coverage for property appreciation
A fast review in the URA master plan discloses our doubts that the authority has plan to develop all areas of the island. Despite of the fact that mature estates are hooked in the neighbourhoods that are well developed , immature estates have greater chances for growth . At start you might not be able to enjoy its amenities but as years goes by , you would be able to. Looking those progress, properties in non mature estates will win abundant property appreciation and approval .
The future of our urban landscape is brilliant
Singapore’s urban landscape is improving. The government is determined to push the country into the 21st century match with Smart technology for everyone. The real estate industry has a vision to be a significant pillar in building a booming Singapore, thus public housing takes the lead. Pilot projects are on the way such as the Punggol Northshore, Bidadari, and Tampines North.
Smart HDB Towns are on their way to Singapore, and it pilots in the newest estates.
The future of our urban landscape is also more associated
HDB is not the sole industry that have big dreams for Singapore, it also the Land Transport Authority(LTA). The LTA is creating an aggressive plan to wider the size and coverage of the MRT network coming 2030.
The intensified accessibility will define vividly the lines between a mature and non-mature estates. Anyway, you will travel down the latter heading to the former in just a matter of minutes. Yes true, amenities in the mature estates are edge over the latter but taking consideration in all aspect, its popularity is not an addition.
If you are just about to start, less cash in the pocket, the non–mature estates would be a wise choice. No rush, in any case, you can upgrade in the future.
Bukit Timah enclave has been all the while popular among Singaporeans due to its quiet and serene enclave as its all surrounded by low rise development, landed property and Good Class Bungalows (GBCs). Some of the new developments in Bukit Timah include 3 Balmoral, 1 balmoral and Goodwood Grand.