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Thread: Properties in Geylang Area: Potential?

  1. #11

    Default Re: Properties in Geylang Area: Potential?

    I think we have to differentiate between buying the now geylang to stay and buying for its future potential for investment. Now - yes I agree not a good proposition (its true that some banks do not want to finance or have limits). But for the future, I see unlocked value if one can afford to wait and be among the first to lock in.


  2. #12

    Default Re: Properties in Geylang Area: Potential?

    Moving the red light district has been in talks for many years. I seriously don't think it will be any time within even the next 10-20 years.

    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.


  3. #13
    tell you the truth
    Guest

    Default 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

    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.
    To tell you the truth, you have looked too far into the future and you have messed up like a fool. There are plenty of potential buys still, apart from geylang area. As long as the red light district which i see is getting even more ridiculous, grows instead of shrinking. You will be screwed. You go check out geylang tonight on a sunday night, then you tell me if the GOV is genuinely going to do something about it. This daredevil really is a risk taker.
    I think he wants an excuse to CALL CHICKEN everynight.


  4. #14

    Default Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by tell you the truth
    To tell you the truth, you have looked too far into the future and you have messed up like a fool. There are plenty of potential buys still, apart from geylang area. As long as the red light district which i see is getting even more ridiculous, grows instead of shrinking. You will be screwed. You go check out geylang tonight on a sunday night, then you tell me if the GOV is genuinely going to do something about it. This daredevil really is a risk taker.
    I think he wants an excuse to CALL CHICKEN everynight.
    There are clowns like you who jump to conclusion (and generalize) and there are serious investors (like those who are sharing their thoughts in this thread) who are looking for opportunities and making sense of current developments. You can make it out such that every corner of Geylang is a prostitute den. There's Geylang East, Central, and the Lorongs (which is the topic of this thread)

    For the record, the Atrium Residences is sold out completely. One investor bought 21 units (out of total 149 units) - and a senior executive from DHL bought a pent house unit. I purchased a 3-room freehold unit for under $600k (while Waterina, which is just a stone's throw away, cost $750k for a similar unit). Note that these condos are also near the Guillemard side of the road (it takes 5 min just to get to the Sports Hub).

    As Boon mentioned, we are looking at the future - not now... only time will tell. And I qualify that we will have a better picture when the Master Plan for 2008 is out.


  5. #15
    In the Know
    Guest

    Default Re: Properties in Geylang Area: Potential?

    Geylang properties definitely have potential. Location fundamentals are good (near city, near traffic access like expressways, a couple of MRT servicing the area) except for one minor detail (prostitutes).

    As you can see, Geylang area has lots of pros, and only one con. Remove that one con, you get a highly desirable residential area strategically located between the city and the East Coast, with a great view of Marina Bay to boot!


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