Exciting next lap for suburban regional centres and new growth corridors

By Ong Kah Seng / R'ST Research, The Edge Property | September 23, 2015 2:54 PM MYT
The craze for suburban condominiums, commonly known as “condominium fever”, from around 2010 to 2013, seems to be quite over. That period saw many HDB upgraders snapping up properties in suburban condo projects, but the craze generally fizzled after the total debt servicing ratio (TDSR) framework was implemented at endJune 2013. In recent times, buyers are more realistic and less aspirational, although HDB flat owners who did not manage to upgrade to private condos remain keen on a value buy.

One must, however, look beyond the escalating prices during the condo dream period. It wasn’t just a period of blindly chasing properties; there were actually useful contributions resulting from those times. We must note that it was then that the government rapidly released sites for private housing and Executive Condominium (EC) development to cater to the demand from HDB flat upgraders. More sites were released, but in a planned fashion — such that the series of sites released in specific localities over a few years, for instance, cumulatively shaped or spruced up an estate — and created new growth corridors.