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Thread: Properties in Geylang Area: Potential?

  1. #16
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    Cool Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by In the Know
    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!
    Some time back the same question was ask to MM Lee during an open forum. MM Lees reply is candid and straightforward. Prostituition is legal in Singapore and the government stand is that it will not intervene and will let market forces decides. So unless, there's a "big giant developer" who is willing to "buy out" the protitution business (provided there's willing seller), I don't think the "con" will go away in many years to come. The prostituition business is too lucraty to let go as new license will be difficult to acquire. MM Lee even jested about having to compete with Batam, when someone suggested shifting the entire Geylang prostitution business to a S'pore island instead to contain it. With such reply from the man himself, buying Geylang is a real gamble. But I believe the time will come for prostitution business to be shifted out of Geylang, except that it will not be in my lfetime...Good luck to the punters of Geylang.


  2. #17
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    Default Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by Unregistered
    Some time back the same question was ask to MM Lee during an open forum. MM Lees reply is candid and straightforward. Prostituition is legal in Singapore and the government stand is that it will not intervene and will let market forces decides. So unless, there's a "big giant developer" who is willing to "buy out" the protitution business (provided there's willing seller), I don't think the "con" will go away in many years to come. The prostituition business is too lucraty to let go as new license will be difficult to acquire. MM Lee even jested about having to compete with Batam, when someone suggested shifting the entire Geylang prostitution business to a S'pore island instead to contain it. With such reply from the man himself, buying Geylang is a real gamble. But I believe the time will come for prostitution business to be shifted out of Geylang, except that it will not be in my lfetime...Good luck to the punters of Geylang.

    We need somebody like Donald Trump or Li Ka Shing.


  3. #18
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    Default Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by Unregistered
    We need somebody like Donald Trump or Li Ka Shing.
    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!


  4. #19
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    Default 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!
    Some time back the same question was ask to MM Lee during an open forum. MM Lees reply is candid and straightforward. Prostituition is legal in Singapore and the government stand is that it will not intervene and will let market forces decides. So unless, there's a "big giant developer" who is willing to "buy out" the protitution business (provided there's willing seller), I don't think the "con" will go away in many years to come. The prostituition business is too lucraty to let go as new license will be difficult to acquire. MM Lee even jested about having to compete with Batam, when someone suggested shifting the entire Geylang prostitution business to a S'pore island instead to contain it. With such reply from the man himself, buying Geylang is a real gamble. But I believe the time will come for prostitution business to be shifted out of Geylang, except that it will not be in my lfetime...Good luck to the punters of Geylang.
    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 .
    All of the above, tells you something daredevil. That you are not very bright.


  5. #20
    bright future
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    Default Re: Properties in Geylang Area: Potential?

    Quote Originally Posted by Daredevil
    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)
    Ignore those clowns. They do not know what they are talking about. Those clowns just skim the surface and don't look deep enough into the issue.

    Quote Originally Posted by Daredevil
    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).
    I have been to view Atrium Residences. Very very impressed, especially with the pricing. I just hope the completion of this property will kick start the rejuvenation of Geylang Lorongs. Such a good location, absolutely wasted to have vice activities around.

    Quote Originally Posted by Daredevil
    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.
    Just less than a month ago we would never have thought Riverine by the Park which is so near Geylang could have sold for as high as $1700 psf. Today Riverine is sold out (or almost) at record breaking prices.

    A year ago we would never have thought property prices could hit $4000 psf. Today it looks likely to hit $5000 psf.

    You are right. Only time will tell. Fortune rewards the brave. Entrepreneurs with the sharpest acumen will win in the end.


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