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Thread: Properties in Geylang Area: Potential?

  1. #6

    Talking Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by Daredevil
    I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

    So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

    Here are my reasons: (and I am hoping someone can agree or disagree)
    * Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
    * Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
    * The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
    * You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
    * Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

    Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.
    Good for you. I can tell you why.
    1). Rental yield will be very high. One 3-bedroom unit can be rented out to 9 tenents. 9 tenents pays $400X9=3,600. $3,600/mth is very good yield. BTW some prostitutes or so called "students" can even squeeze 4 in 1 room. Do not think about capital gain. Yield will be the one to target.
    2). Own stay is very good for single man. I know of a few owners of geylang units that stay there as landlord and jagar the "students". Every month not only can he make money from his condo, he gets "free XXX" as well .

  2. #7

    Default Re: Properties in Geylang Area: Potential?

    hahaha..I totally agree with the reasons - both the original and follow-up ones! But on a serious note, I myself think its a matter of time before we see what you have mentioned. And the major hurdle like you mentioned is to get your spouse to agree to it!! Maybe I can help with my own take of the situation...

    The fact that the red light dictrict can be shifted effortlessly (although where it goes to will take some PR work as residents - presumably the women - near the new vicinity would be strongly against it) makes it all the more easier for such a relocation to take place. Proximity to town is a given advantage. If anything I believe we are at the start of a "live in the city" property boom. 5 years ago when I bought my HDB, which is 10 min walk from Raffles Place, my wife's colleagues were jesting "why do you want to stay and work in the same place?"...and this was not only one but a few colleagues. The same people now are looking to buy into central apartments. Naturally as this goes on, the spillover willbe felt in all directions as the demand fans out incl to geylang.

    Just visualize this - by 2020, Singapore will effectively be a Greater Metropolitan or a Megacity, whereby the whole island is just one big city (today, you can argue that the CBD/orchard belt is the city and the HDB heartland are the suburds - and the "city" has now in fact grown to Bugis/Vivio/Suntec which represents all the spillover directions: north, west, east). As in other metropolitan cities, residential prices will correlate with the distance from the centre of the Mteropolitan which in our case is Raffles Place/Orchard. If one were to take this a step further, then imagine that by 2040, this tiny island would be so expensive and crowded that people would start staying in South Johor and commute door-to-door @ 2 hours just to get to Raffles city. It's not far fetched - people are already doing so in other countries...just that we are already complaining if we travel from Woodlands to Raffles!

  3. #8
    Geylang united

    Thumbs up Re: Properties in Geylang Area: Potential?

    Staying in geylang is every mans' dream(Especially old men with lots of CPF money). Approximaty to Good Food(Beef noodles,Hokkien noodles,Wok rice...),
    Good mix of people(Multiracial area with lots of Indian,china workers,tourists of high net worth with lots of money to spend), Good range of businesses(Food[all types of flavours], Hotels[by the hour], Internet cafe[have to type in chinese], IR[make shift tables having 9 numbers for betting], foot messages reflexology[can message your third feet if you want], Ktv[family orientated, with many kind and friendly ladies to sing with you or sing you.]
    Houses with lighted numbers[provides quick stress relief for a better man].)
    Good service(Within all the lorongs of geylang, there are many freelance SERIVCE providers to give you instant resolution to all your problems.
    With all said, enjoy your stay there. You are the envy of all men in singapore.

  4. #9
    Just my thoughts

    Default Re: Properties in Geylang Area: Potential?

    No though there are many good food in Geyland. However, I'll only go there for food, not for staying. Besides getting wife permission and consider her safety, if you have children you will also want to think twice on the negative effect on the youngs.

  5. #10

    Default Decent condos in Geylang Area

    There are pretty decent condos in the Geylang area: Simsville, Sims Residences, Aston Mansion, Central Grove, The Alcove. Because of the bad image of Geylang, these places are all affected by the negative perception - although they are away from the main Red Light district (under Lor 20)

    It will be interesting to see what happens when the Master Pan 2008 is revealed. In the meantime, looks like from the response I am seeing in this thread, the negative Geylang perception still rules...

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