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Thread: Properties in Geylang Area: Potential?

  1. #21
    Unregistered Guest

    Default Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by Boon
    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!
    This is a very convincing argument. One only needs to refer back to the historical growth of cities like HK, Shanghai, Tokyo, Los Angeles, Chicago, New York, London, etc to see that the same is happening to Singapore.

    There will be a day very soon when Geylang is included in 'downtown Singapore'.

  2. #22

    Default Re: Properties in Geylang Area: Potential?

    While some will disagree with me, I think Bugis serves as a good example of how a previously "tainted" area could be turned into a totally different development in a matter of 10-20 years.

    Bugis Street, in the city-state of Singapore, was renowned internationally from the 1950s to the 1980s for its nightly gathering of transwomen, a phenomenon which made it one of Singapore's top tourist destinations during that period.
    In the mid-1980s, Bugis Street underwent major urban redevelopment into a retail complex of modern shopping malls, restaurants and nightspots mixed with regulated back-alley roadside vendors. Underground digging to construct the Bugis MRT station prior to that also caused the upheaval and termination of nightly transgender sex bazaar culture, marking the end of a colourful and unique era in Singapore's history.
    http://en.wikipedia.org/wiki/Bugis_Street

  3. #23
    Unregistered Guest

    Thumbs up Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by Unregistered
    Geylang will always be Geylang.....infested with Prostitutes, gangsters, loansharks, gambling dens, drugs hangouts......The govt. will not tilt anything when the whole Geylang is so well balanced by itself.....The govt. has created this place to be so special and place it under specialise attention and in a way is very well managed...I would not want to even think that our govt. will shift Geylang...Not for the IR..not for any other reasons! Anyway people come IR need to have a "f..K" as well, so just 10 minutes taxi down nicoll highway and they enjoy all these services...The Govt. long has it planned...So, to see into the future for punting properties in Geylang, I think that guy is too far-fetchted!.. Rather if he is thinking of opening a sex "mess" and renting out to "high-rollers" to enjoy...definitely can get high rental yields!
    Agreed that to "enbloc" Geylang only Li Ka Shing and the like has the monetary might to do so. Issue here is whether the Return of Investment (ROI) is attractive enough, else they have better place to put the money. (Not their S'pore anyway). Another issue is whether the prostitution operators are interest to "enbloc". If not, then only the government could "force them" to do it. But by forcing them, it is against the concept of "market forces" and make S'pore looks like an autocratic state (bad image for S'pore). With all these factors, it will take long long (beyond 2018 - latest MRT line tgt dte) for Geylang to be clean-up. MM Lee also ask which estate would want to volunteer for the relocation? I think the government knows that shifting the "problem" is also not the solution, especially when the business is legal in the law of S'pore. Since it is legal, then perhaps can suggest to the government to do upgrading (MUP) instead of relocation. First class IR and first class "Geylang" side by side will sure attract more tourist to S'pore and surely increase your rental yields as well.

  4. #24
    Unregistered Guest

    Default Re: Properties in Geylang Area: Potential?

    People respond differently and you call them clowns! What's these men? Must people all think like the way you think else they are clowns!

    I simply giving a piece of my mind in case people rush in and got the wrong buy for wrong reason.

    Geylang is fine if you are looking to buy for rental or as a "relaxation" mess, or keep a mistress etc...but not as a family place.

    Would one wants the wife to be looked at as if she is a prostitute, or the children to grow up seeing all these prostitutes, young / old men lurking around...etc...c'mon.. these are problems...that's why the prices appear good and will be for a long time unless rental yields become 10% then prices start to move up correspondingly because too good for investment.

    As for Geylang to be changed to be a "family" place, i think it would be impossible in our lifetime as this has been the most "cultural" and recognisable location of S'pore and also logistically just too impossible for the govt' and police after it is functioning so well! Why disturb it when this criminal infested location is operating so well and any criminals lurking in this region can be pulled up by CID anytime if some crime has been committed in S'pore etc.

  5. #25
    Unregistered Guest

    Default Re: Properties in Geylang Area: Potential?

    Would you mind posting some pics or renderings of the Atrium Residences? Am quite curious what it is about.


    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

    http://lushhome.wordpress.com/2007/0...nned-says-mah/

    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.

  6. #26

    Default Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by Unregistered
    Would you mind posting some pics or renderings of the Atrium Residences? Am quite curious what it is about.
    Sure. I searched the Net and found this URL: http://www.jentan.com/projects/Atrium/index.aspx
    It gives pictures of the property and a panaromic 3D view.

    But a friendly warning if you are buying any condo in Geylang:
    "Family Forfeits $22,000 in booking fees for Condo in Geylang" (It concerns this same condo)
    http://www.sghousing.com/2006/07/page/2/
    (this was before the IR craze started... )

    ... more controversy that makes this thread even more juicy.

  7. #27
    Unregistered Guest

    Default Re: Properties in Geylang Area: Potential?

    i am keen to buy a apt/condo in geylang and rent out. problem is bank does not grant loan. personally i feel it is good investment as long as the property can be rented out 90% of the time and then the rental can cover the instalment

    what is the expected rental yield for atrium residence?

  8. #28
    Unregistered Guest

    Default Re: Properties in Geylang Area: Potential?

    Atrium fully sold? how come i still see them advertising?

  9. #29
    Unregistered Guest

    Default Re: Properties in Geylang Area: Potential?

    Even if red light is not moved out of Geylang, the good rental yield (since price are cheap) would still make geylang a good investment.

    of course u may face prblm shd u want to sell in future (as bank are generally unwilling to grant loan) but as long as plan to keep it to collect rental income i think it is a worthwhile investment





    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

    http://lushhome.wordpress.com/2007/0...nned-says-mah/

    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.

  10. #30
    Unregistered Guest

    Default Re: Properties in Geylang Area: Potential?

    Refering to the article, why didnt the person take up the loan from finance house since Finance house are willing to grant him a loan?

    the article mentioned that he worried that he may have problem selling his house in future so he rather give up 22k.

    if he is staying in geylang for the long term he should take up the loan with hong leong than to lose the 22k.

    maybe Finance house charge higher interest?

    anyway i personally think earning 50k a year is not consider high income + a car loan made him less credit worthy despite having a good credit history.




    Quote Originally Posted by Daredevil
    Sure. I searched the Net and found this URL: http://www.jentan.com/projects/Atrium/index.aspx
    It gives pictures of the property and a panaromic 3D view.

    But a friendly warning if you are buying any condo in Geylang:
    "Family Forfeits $22,000 in booking fees for Condo in Geylang" (It concerns this same condo)
    http://www.sghousing.com/2006/07/page/2/
    (this was before the IR craze started... )

    ... more controversy that makes this thread even more juicy.

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