View Full Version : Balestier touted up-and-coming city fringe estate
Balestier touted up-and-coming city fringe estate (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1134928/1/.html)
By Jo-ann Huang | Posted: 13 June 2011 2241 hrs
SINGAPORE : The historical Balestier area is going through a makeover, with swanky new residential projects and several hotels now seen lining its streets.
It is also attracting high demand from young couples and professionals looking for a convenient city fringe property.
Still, home prices in Balestier are not rising as fast as other city fringe areas, but analysts say this trend may change once government works to spruce up the area are complete.
According to data from the Urban Redevelopment Authority, home prices in Balestier are growing more slowly than those in other city fringe areas, increasing by 9 per cent on-year compared with the overall city fringe price growth of 11 per cent on-year.
The Viridian, a 23-storey condominium, is Global Orion Properties' maiden residential project.
The industrial property developer chose the historical Balestier area - the former home to Singapore's early immigrants - for the freehold development on Jalan Ampas, just off Balestier Road.
The property will have 108 units, ranging from 500 to over 3,300 square feet each, and amenities like a swimming pool and a recreational terrace.
Satia Narjadin, director of Global Orion Properties, said: "In terms of amenities and location, it really can't be beaten - we are just outside of the city area itself. From here to Orchard Road, it's just 5 minutes.
"If you take a walk outside, there is food aplenty, you have places to do grocery shopping, (and) it is conveniently located within walking distance to the MRT".
Prices at The Viridian are going at S$1,550 per square foot (psf) - typical for new developments in Balestier like The Interweave, SkySuites 17 and Okio Residences.
Analysts say the massive 421,000-square-ft Zhongshan Park hotel and retail project in Balestier will boost its attractiveness even further.
The government has also announced plans to revamp the Balestier area, including building new footpaths and creating a heritage trail.
Liang Thow Ming, head of residential services, Credo Real Estate, said: "You will find that similar properties within the city on a 99-year leasehold will be costing you anything from S$2,000 per square foot upwards.
"Therefore, if you look at a freehold Balestier (property), at about S$1,400 or S$1,500 per square foot, that is value for money - for them to buy or even for investors who will probably be buying so that they can rent it out."
The Viridian will sit on a former en bloc factory site, bought for S$27.5 million, while Skysuites 17 will be rebuilt from an old residential property, Diamond Tower.
Analysts say the Balestier area holds much en bloc potential for developers as the old gives way to the new.
- CNA/al
devilplate
13-06-11, 23:34
1400-1500psf for balestier is value for money?:scared-1:
1400-1500psf for balestier is value for money?:scared-1:
$1500++ can find units in D10 lor. Balestier is too " za za" . Drive up n down the road when i visit the showflat. Totally dont like the area.
propertyguru
14-06-11, 00:13
$1500++ can find units in D10 lor. Balestier is too " za za" . Drive up n down the road when i visit the showflat. Totally dont like the area.
S$1,500 psf is too high to be value-for-money. But anything under $1,200 still has quite a bit of an upside. But even within D12, not every development is equal. I think those nearer Thomson Road have a better environment, and will be aided by Vista, The Arte, etc.
The citirine was selling only around 650psf when first launched....Then the arte from around 850psf then vista residence from around 950psf then cube 8 and 368 thomson around 1200-1300psf.
Now 1500psf is value for money! :scared-1:
Balestier is too overcongested with old buildings and rowdy looking coffeeshops. It reminds me of the red light Geylang area. However, the developers make extra effort to introduce modern trendy condos in this area to offset these negative points. It will take more than 10 years for Balestier to undergo a complete transformation.
Nevertheless, if I were to rank condo preferences based on the districts, the following are the order of preferences:
(1) District 9/10
(2) Shenton Way/Tjg Pagar (CBD)
(3) District 15
(4) Sentosa/Harborfront area (D4)
Balestier is too overcongested with old buildings and rowdy looking coffeeshops. It reminds me of the red light Geylang area. However, the developers make extra effort to introduce modern trendy condos in this area to offset these negative points. It will take more than 10 years for Balestier to undergo a complete transformation.
Nevertheless, if I were to rank condo preferences based on the districts, the following are the order of preferences:
(1) District 9/10
(2) Shenton Way/Tjg Pagar (CBD)
(3) District 15
(4) Sentosa/Harborfront area (D4)In 10 years, these new condos will become old so even if there's been a makeover for those older coffeeshops and buildings, there'll then be these 10 year old condos so not so nice again!!! :D Its never enough de! :p
propertyguru
14-06-11, 08:21
Balestier is too overcongested with old buildings and rowdy looking coffeeshops. It reminds me of the red light Geylang area. However, the developers make extra effort to introduce modern trendy condos in this area to offset these negative points. It will take more than 10 years for Balestier to undergo a complete transformation.
Nevertheless, if I were to rank condo preferences based on the districts, the following are the order of preferences:
(1) District 9/10
(2) Shenton Way/Tjg Pagar (CBD)
(3) District 15
(4) Sentosa/Harborfront area (D4)
I am vested in the area so I might be biased, but I was personally attracted to Balestier because of these old shophouses. I think they lend the area a certain charm, not unlike Tiong Bahru before the government basically restored and repainted everything and destroyed any remnants of the old world. I do however agree that parts of it is becoming congested, as small developments are being replaced by bigger and more populated ones. The side near Thomson Road is a good example, with Vista, the Arte, Cube 8, 368 Thomson all coming up within a 400-metre radius.
It will be good if they restore the pavements and eliminate the parking and traffic problems, but I actually hope the KTVs and old shophouses remain. Even the budget hotels. It keeps the place alive at nights, and doesn't pose any safety issues; gang fights or rowdy drunkards are rare in the area, and cabs are aplenty because of the clientele. That to me at least is the appeal of Balestier.
You can't compare D12 to D9/10 or even D11 of course. Those are upmarket areas, quieter, and associated with the elite. Hence they command the highest prices. Even D1 and Sentosa/Harbourfront are not fair comparisons. A fairer comparison would be D3, since it's also on the city fringe (five minutes to Orchard Road and five minutes to Sentosa), as well as D15. I think those who have lived in the east would pick D15 but I have never lived in the area, so I can't comment. I consider both D3 and D12 very livable; the advantages of both are that they are very near the city without actually being in it and therefore avoid the problems commonly associated with living in the city, eg. higher food prices, traffic, transport costs. D3 is slightly quieter at the moment, though the stretch near the MRT station (with Ascentia Sky, Metropolitan and the new empty plot) is fast being transformed and will eventually become quite crowded. Tiong Bahru is already fairly saturated, and there are traffic problems during the evening with everybody trying to get out and into Tiong Bahru Plaza. Balestier is already crowded as well, but I like that it is at the intersection of several expressways, so you can get to the various corners of Singapore pretty quickly.
Anyway, all three areas are ideal to me; the question right now (from an investing point of view) is which area has the greatest upside. For me, D3 with Ascentia Sky around $1,500 (and only leasehold) seems like a hard sell, and any upside may take years to materialise. Balestier is also touching $1,500 (and not even near the Thomson end, though most developments are freehold) so I don't foresee much near-term upside either. I myself bought into the area two years ago, and am wondering whether to cash out but if I cash out, where do I buy?
why beacon height cannot move?? freehold but transacted slightly above $1000psf.
thomastansb
14-06-11, 09:34
Balestier don't even have MRT by 2020. At 1500 psf, I rather go for Lavendar. Nearer to town with MRT.
Wild Falcon
14-06-11, 09:50
Beacon Heights is not even Balestier. It's like Moonstone side already right?
The problem with Balestier is too congested, cars always illegally parked by the roadside, a lot of gangster type hanging around, many PRC ladies renting the condo there, concrete jungle with no trees. Another minus point is no MRT (which is a BIG minus point).
Other than that, if u drive, its quite close to Orchard.
But at 1500psf, I'll rather buy Geylang freehold which is half price. Same vibe with MRT.
why beacon height cannot move?? freehold but transacted slightly above $1000psf.
Beacon Heights is not even Balestier. It's like Moonstone side already right?
The problem with Balestier is too congested, cars always illegally parked by the roadside, a lot of gangster type hanging around, many PRC ladies renting the condo there, concrete jungle with no trees. Another minus point is no MRT (which is a BIG minus point).
Other than that, if u drive, its quite close to Orchard.
But at 1500psf, I'll rather buy Geylang freehold which is half price. Same vibe with MRT.
Balestier traffic will get worse. Buildings r close. To orchard road is abt 15min drive typically, near but not fast to get there. Geylang new launches ard $1300 psf. No longer cheap. I wld rather go for other areas like tiong bahru.
devilplate
14-06-11, 10:29
Balestier traffic will get worse. Buildings r close. To orchard road is abt 15min drive typically, near but not fast to get there. Geylang new launches ard $1300 psf. No longer cheap. I wld rather go for other areas like tiong bahru.
resale in geylang still way below 1kpsf
propertyguru
14-06-11, 10:33
Balestier traffic will get worse. Buildings r close. To orchard road is abt 15min drive typically, near but not fast to get there. Geylang new launches ard $1300 psf. No longer cheap. I wld rather go for other areas like tiong bahru.
Tiong Bahru is already $1,500 psf (Twin Regency, etc) so I don't think it's a better value proposition. I hear some of the HDB flats are asking for $800k already.
Anyway, Balestier traffic is bad along Balestier Road itself, but predominantly at morning and evening peak periods. Traffic along Thomson Road is alright, and having stayed at Balestier, I can assure you it doesn't take 15 minutes to get to Orchard. Moreover, there's a shortcut through Chancery that takes you to Delphi Orchard.
But I agree $1,500 psf for Balestier is too high, and Geylang is probably a better buy at the moment.
why beacon height cannot move?? freehold but transacted slightly above $1000psf.
It seems Beacon Heights is rather under -valued ...
Does anyone know howmuch Riviera 38 @ Marthoma Rd indicative psf price?
Tiong Bahru is already $1,500 psf (Twin Regency, etc) so I don't think it's a better value proposition. I hear some of the HDB flats are asking for $800k already.
Anyway, Balestier traffic is bad along Balestier Road itself, but predominantly at morning and evening peak periods. Traffic along Thomson Road is alright, and having stayed at Balestier, I can assure you it doesn't take 15 minutes to get to Orchard. Moreover, there's a shortcut through Chancery that takes you to Delphi Orchard.
But I agree $1,500 psf for Balestier is too high, and Geylang is probably a better buy at the moment.
Balestier is too crowded, hot n a bit sleazy. I hate it when effectively only 1 lane in e middle can b used since left side got illegal parking n right side got pp making turns. Tt's why for similar psf I would go for tiong bahru.
I also like the unpretentious charm of this area and its interesting history. Eating in those old world coffee shops feels so good...and the village feel of whampoa estate. Looking forward to staying there.
:)
I am vested in the area so I might be biased, but I was personally attracted to Balestier because of these old shophouses. I think they lend the area a certain charm, not unlike Tiong Bahru before the government basically restored and repainted everything and destroyed any remnants of the old world. I do however agree that parts of it is becoming congested, as small developments are being replaced by bigger and more populated ones. The side near Thomson Road is a good example, with Vista, the Arte, Cube 8, 368 Thomson all coming up within a 400-metre radius.
It will be good if they restore the pavements and eliminate the parking and traffic problems, but I actually hope the KTVs and old shophouses remain. Even the budget hotels. It keeps the place alive at nights, and doesn't pose any safety issues; gang fights or rowdy drunkards are rare in the area, and cabs are aplenty because of the clientele. That to me at least is the appeal of Balestier.
You can't compare D12 to D9/10 or even D11 of course. Those are upmarket areas, quieter, and associated with the elite. Hence they command the highest prices. Even D1 and Sentosa/Harbourfront are not fair comparisons. A fairer comparison would be D3, since it's also on the city fringe (five minutes to Orchard Road and five minutes to Sentosa), as well as D15. I think those who have lived in the east would pick D15 but I have never lived in the area, so I can't comment. I consider both D3 and D12 very livable; the advantages of both are that they are very near the city without actually being in it and therefore avoid the problems commonly associated with living in the city, eg. higher food prices, traffic, transport costs. D3 is slightly quieter at the moment, though the stretch near the MRT station (with Ascentia Sky, Metropolitan and the new empty plot) is fast being transformed and will eventually become quite crowded. Tiong Bahru is already fairly saturated, and there are traffic problems during the evening with everybody trying to get out and into Tiong Bahru Plaza. Balestier is already crowded as well, but I like that it is at the intersection of several expressways, so you can get to the various corners of Singapore pretty quickly.
Anyway, all three areas are ideal to me; the question right now (from an investing point of view) is which area has the greatest upside. For me, D3 with Ascentia Sky around $1,500 (and only leasehold) seems like a hard sell, and any upside may take years to materialise. Balestier is also touching $1,500 (and not even near the Thomson end, though most developments are freehold) so I don't foresee much near-term upside either. I myself bought into the area two years ago, and am wondering whether to cash out but if I cash out, where do I buy?
So how would u guys rank condos in the different districts?
In my opinion D15 is pretty high up there.. and the prices in D15 are soaring too...
Lavendar the anpunehneh area? :p
Balestier don't even have MRT by 2020. At 1500 psf, I rather go for Lavendar. Nearer to town with MRT.
devilplate
14-06-11, 16:03
Lavendar the anpunehneh area? :p
No la...lavender n jalan besar more prc, lao ah beng instead....mabe u can say thais at golden mile ....
Balestier can sell high only coz its just beside Orchard area! Its infrastructure is :scared-1: although it has some good food! The old nostalgic feel is fantastic but I'll not want to stay there too! :tsk-tsk:. But one thing for sure, everytime I drive there to makan, I always hoped that I can park my car inside one of those condos and just walk over to makan coz really very difficult to find parking there!!! :scared-4:
Used to live in the Citrine personally and my wife and I actually really liked it.
Balestier really does have its own charm and the convenience factor cannot be overlooked. There's food everywhere, cinema, supermarket (NTUC, Cold Storage) and Novena is actually really nearby. Used to walk home at night from Novena MRT and it's not too bad (plus can keep a bit fit :P).
If you drive, reaching town is very easy (unless during peak hour). PIE and CTE very near also.
The traffic situation can be quite bad though, especially since cars park/stop illegally along Balestier Road. A 3 lane road becomes 2 lanes and there are also multiple u-turns that can block off the right lane as well.
It's not for everyone but it isn't as bad as some people make it out to be. Having said that, S$1,500 psf seems way too high.
Having said all those inconveniences, I think $1300 psf is more ideal! :) Just my personal opinion!
Why don't you all consider the Rochester? Only 1350 psf? Or heritage view, Dover park view 1k+ psf? City frigne but on the atas side of the ci near holland village, and all the high end schools, nus, insead, acjc, acs independent... Plus mrt station interchange, much better value proposition... More upside in six months when circle line open, and once capitaland mall open and ho bee mega office building there TOP...
Why don't you all consider the Rochester? Only 1350 psf? Or heritage view, Dover park view 1k+ psf? City frigne but on the atas side of the ci near holland village, and all the high end schools, nus, insead, acjc, acs independent... Plus mrt station interchange, much better value proposition... More upside in six months when circle line open, and once capitaland mall open and ho bee mega office building there TOP...Good to consider... :) Check out the new circle line and where else it'll land to make a more informed decision!
Overly undervalued area man..... Once the mall open and mrt open in september plus the road cleaned and straighten up.... People will take notice,..
Overly undervalued area man..... Once the mall open and mrt open in september plus the road cleaned and straighten up.... People will take notice,..We'll all wait till then... :sleep:
Wild Falcon
14-06-11, 21:37
Balestier much nearer to the city/Orchard than Rochester. More appropriate to compare to Geylang or Tiong Bahru.
If Balestier got a future MRT station, sure huat one.
Why don't you all consider the Rochester? Only 1350 psf? Or heritage view, Dover park view 1k+ psf? City frigne but on the atas side of the ci near holland village, and all the high end schools, nus, insead, acjc, acs independent... Plus mrt station interchange, much better value proposition... More upside in six months when circle line open, and once capitaland mall open and ho bee mega office building there TOP...
I think it's comparable you take ion as the focal point..... One north area is next to holland village so dontyou think distance the same?
Balestier much nearer to the city/Orchard than Rochester. More appropriate to compare to Geylang or Tiong Bahru.
If Balestier got a future MRT station, sure huat one.
One is confirm, one is if. Buy 1500 no MRT is CONFIRM CUI
Plus bales tier many many za people
propertyguru
14-06-11, 22:55
I think it's comparable you take ion as the focal point..... One north area is next to holland village so dontyou think distance the same?
No offence, but if you think they are the same then you probably haven't travelled from Balestier before. Balestier is a rather long road, but if you take its mid-point, say the CTE entrance/exit, then it's really a five-minute drive. It's just Moulmein Road, then Newton Road, and you are at Ion. Less than five minutes if traffic is smooth. Even in heavy traffic (usually because of Newton Circus), it can't be more than ten minutes. And there're shortcuts through some of the private estates which take you to the fringes of Orchard and bypass Newton completely. Also, you must note that Balestier is in the middle of Singapore, whereas One Rochester is near the west, so even if the distance to the city centre is the same, Balestier is nearer to more of the rest of Singapore. Distance-wise, comparable areas are probably Tiong Bahru (via River Valley) and Alexandra (via Tanglin Road).
Balestier's current drawbacks are the lack of a local MRT station (must rely on Novena, Toa Payoh and the upcoming Marymount) and congestion/somewhat seedy environment. In the end, no part of Singapore is perfect so the question is whether it ticks enough boxes. Right now, at $1,500 psf, I am not sure it's worth buying into Balestier. But some of the older developments are still being priced at $900 psf which I think is very good business.
I like Pavilion 11, its at the nicer part of Balestier... so near amenities, sits on a hill, but prices are way too high in this cautious market.
proud owner
14-06-11, 23:25
I like Pavilion 11, its at the nicer part of Balestier... so near amenities, sits on a hill, but prices are way too high in this cautious market.
many years ago ...we almost bought a unit at some condo in Ah Hood road ...
we actually liked it but i was very concerned with the traffic...
many years later ... the traffic conditions are still the same ...if not worse
how many years more before the traffic can improve ?
No offence, but if you think they are the same then you probably haven't travelled from Balestier before. Balestier is a rather long road, but if you take its mid-point, say the CTE entrance/exit, then it's really a five-minute drive. It's just Moulmein Road, then Newton Road, and you are at Ion. Less than five minutes if traffic is smooth. Even in heavy traffic (usually because of Newton Circus), it can't be more than ten minutes. And there're shortcuts through some of the private estates which take you to the fringes of Orchard and bypass Newton completely. Also, you must note that Balestier is in the middle of Singapore, whereas One Rochester is near the west, so even if the distance to the city centre is the same, Balestier is nearer to more of the rest of Singapore. Distance-wise, comparable areas are probably Tiong Bahru (via River Valley) and Alexandra (via Tanglin Road).
Balestier's current drawbacks are the lack of a local MRT station (must rely on Novena, Toa Payoh and the upcoming Marymount) and congestion/somewhat seedy environment. In the end, no part of Singapore is perfect so the question is whether it ticks enough boxes. Right now, at $1,500 psf, I am not sure it's worth buying into Balestier. But some of the older developments are still being priced at $900 psf which I think is very good business.
Thanks for your feedback. I do agree with some of your points, however there are certain things which might make Balestier unattractive to future condo buyers as follows:
(a) Overcrowded estate - Balestier is extremely overcrowded, by old buildings and old roads, and to top it all, by rowdy shops, bars and hotels, which sometimes remind us of the red light Geylang area. It is virtually impossible to remove this overcrowded buildings without affecting the roads/traffic as they are located so close to one another.
(b) Bad ambience - it does not have a serenity feeling which you can find in areas like Sentosa, East Coast, Orchard, Bukit Timah areas where there are large reservoirs of trees and plants and natural environments (eg. seaview, landscape, city views) that can make the place more resident friendly.
(c) Poor transport system - no MRT/road system still far from good due to bad traffic especially after working hours.
With these 3 things lacking, I dont foresee Balestier transforming itself into a prime estate anytime soon or in the distant future.
propertyguru
14-06-11, 23:46
Thanks for your feedback. I do agree with some of your points, however there are certain things which might make Balestier unattractive to future condo buyers as follows:
(a) Overcrowded estate - Balestier is extremely overcrowded, by old buildings and old roads, and to top it all, by rowdy shops, bars and hotels, which sometimes remind us of the red light Geylang area. It is virtually impossible to remove this overcrowded buildings without affecting the roads/traffic as they are located so close to one another.
(b) Bad ambience - it does not have a serenity feeling which you can find in areas like Sentosa, East Coast, Orchard, Bukit Timah areas where there are large reservoirs of trees and plants and natural environments (eg. seaview, landscape, city views) that can make the place more resident friendly.
(c) Poor transport system - no MRT/road system still far from good due to bad traffic especially after working hours.
With these 3 things lacking, I dont foresee Balestier transforming itself into a prime estate anytime soon or in the distant future.
Oh, at no point was I suggesting that Balestier will transform into a prime estate. It will always be a poorer cousin to its neighbour, D11. What I was discussing were the merits of buying a property in Balestier for living/investing. For investing, the important issue is whether it is undervalued. That links to the livability of the area, which are points you have raised. I agree with the points you have raised, and will only point out that first, some people like serenity, but others like the rustic charm of Balestier. If you lived on Sentosa and felt hungry at 2 am, you would be hard pressed to find a place for supper within walking distance. Balestier offers that. The overcrowding is an issue of course, but then it comes with the territory. Put cheap food on the table, and people will crowd in. Second, I expect that people would never pay more for Balestier than they would for Sentosa despite these qualifications, but the question is whether at current prices, Balestier has more room to appreciate or if Sentosa has more upside. Sentosa is already selling for over $2,000 psf, so how much further can it go? I am not sure. What I do believe is that in the short term, if you find a property in Balestier under $1,000 psf, you are looking at a 20% upside in the next five years, with the new Zhongshan Park coming up and the government's plans to revamp the area (hopefully not too much). Sentosa of course has huge potential if this seaside living takes off, but within the next five years, there're major risks inherent in our property market (and the global economy).
Balestier is too overcongested with old buildings and rowdy looking coffeeshops. It reminds me of the red light Geylang area. However, the developers make extra effort to introduce modern trendy condos in this area to offset these negative points. It will take more than 10 years for Balestier to undergo a complete transformation.
Nevertheless, if I were to rank condo preferences based on the districts, the following are the order of preferences:
(1) District 9/10
(2) Shenton Way/Tjg Pagar (CBD)
(3) District 15
(4) Sentosa/Harborfront area (D4)
Sorry make a mistake, the following are the proper rankings as per earlier Real Estate Agent Seminar organised by Huttons in March this year.
Ranking Price $psf (highest) Average
(1st) District 9/10 (Orchard/RV) 4,500 2,300
(2nd) Marina/Shenton/ Tjg Pagar 3,300 2,050
(3rd) District 15 (Amber/Meyer) 2,700 1,700
(4th) Sentosa/Harborfront (D4) 2,500 1,600
(5th) Bukit Timah/Holland Rd 2,300 1,400
Oh, at no point was I suggesting that Balestier will transform into a prime estate. It will always be a poorer cousin to its neighbour, D11. What I was discussing were the merits of buying a property in Balestier for living/investing. For investing, the important issue is whether it is undervalued. That links to the livability of the area, which are points you have raised. I agree with the points you have raised, and will only point out that first, some people like serenity, but others like the rustic charm of Balestier. If you lived on Sentosa and felt hungry at 2 am, you would be hard pressed to find a place for supper within walking distance. Balestier offers that. The overcrowding is an issue of course, but then it comes with the territory. Put cheap food on the table, and people will crowd in. Second, I expect that people would never pay more for Balestier than they would for Sentosa despite these qualifications, but the question is whether at current prices, Balestier has more room to appreciate or if Sentosa has more upside. Sentosa is already selling for over $2,000 psf, so how much further can it go? I am not sure. What I do believe is that in the short term, if you find a property in Balestier under $1,000 psf, you are looking at a 20% upside in the next five years, with the new Zhongshan Park coming up and the government's plans to revamp the area (hopefully not too much). Sentosa of course has huge potential if this seaside living takes off, but within the next five years, there're major risks inherent in our property market (and the global economy).
Yup agree with u on this point. If for investor, there will be an upside potential if he able to choose a good buy in Balestier.
http://www.todayonline.com/Business/EDC110614-0000082/Will-Balestier-prices-catch-up?
Will Balestier prices catch up?
by Jo-Ann Huang Limin
04:47 AM Jun 14, 2011
SINGAPORE - The Balestier area is going through a makeover with swanky new residential projects and several hotels now lining its streets, attracting demand from young couples and professionals looking for a convenient city fringe property.
Still, home prices in Balestier are not rising as fast as other city fringe areas, although analysts say this trend may change once Government projects to spruce up the area are completed. These include new footpaths and a heritage trail.
According to data from the Urban Redevelopment Authority, home prices in Balestier rose 9 per cent year-on-year, compared with the overall city fringe price growth of 11 per cent. But Mr Satia Narjadin, director of developer Global Orion Properties is optimistic. The Viridian, a 23-storey condominium, is the company's maiden residential project.
Prices at The Viridian are going at S$1,550 per square foot - typical for new developments in Balestier such as The Interweave, SkySuites 17 and Okio Residences.
Analysts say the massive 420,000 sq ft Zhongshan Park hotel and retail project in Balestier will boost the area's attractiveness even further. JO-ANN HUANG
Geylang OKT
15-06-11, 07:09
http://www.todayonline.com/Business/EDC110614-0000082/Will-Balestier-prices-catch-up?
Will Balestier prices catch up?
by Jo-Ann Huang Limin
04:47 AM Jun 14, 2011
SINGAPORE - The Balestier area is going through a makeover with swanky new residential projects and several hotels now lining its streets, attracting demand from young couples and professionals looking for a convenient city fringe property.
Still, home prices in Balestier are not rising as fast as other city fringe areas, although analysts say this trend may change once Government projects to spruce up the area are completed. These include new footpaths and a heritage trail.
According to data from the Urban Redevelopment Authority, home prices in Balestier rose 9 per cent year-on-year, compared with the overall city fringe price growth of 11 per cent. But Mr Satia Narjadin, director of developer Global Orion Properties is optimistic. The Viridian, a 23-storey condominium, is the company's maiden residential project.
Prices at The Viridian are going at S$1,550 per square foot - typical for new developments in Balestier such as The Interweave, SkySuites 17 and Okio Residences.
Analysts say the massive 420,000 sq ft Zhongshan Park hotel and retail project in Balestier will boost the area's attractiveness even further. JO-ANN HUANG
I believe Hiap Hoe and Superbowl (listed companies on SGX) are behind the Zhongshan Park hotel and retail project in Balestier :D :D :D
But no... I wouldn't pay the current obscene prices for Balestier :scared-1:
many years ago ...we almost bought a unit at some condo in Ah Hood road ...
we actually liked it but i was very concerned with the traffic...
many years later ... the traffic conditions are still the same ...if not worse
how many years more before the traffic can improve ?If no official complaints, then nothing will be done! Its the name of the game in Singapore. Sigh! Must have enough people making enough noise. Traffic conditions have indeed deteriorated over the years in this area and it will only get worse with that new buildings, etc! :scared-4: No point doing up that area if the traffic conditions remain status quo... :doh:
I believe Hiap Hoe and Superbowl (listed companies on SGX) are behind the Zhongshan Park hotel and retail project in Balestier :D :D :D
But no... I wouldn't pay the current obscene prices for Balestier :scared-1:Well I wouldn't pay those obscene prices too but should Balestier undergo that much talked about make over, will its price hit $2000 psf? Potentially so buying now does make that tiny bit of sense but my major bit of sense still has great hesitation.... :p
Regulators
15-06-11, 21:54
Balestier is already a second favourite spot china chickens. The budget hotels there all make money by the hour. :doh:
Balestier is already a second favourite spot china chickens. The budget hotels there all make money by the hour. :doh:You seem to know the place pretty well!!! Good for you!!! :D
Can remake all you want but if the budget hotels still there then can only remake into high class red light district lol.... At 1500+ psf might as well buy holland road, farrer road, red hill... Aren't this district better?
Give it another 3 years then we'll judge it again... don't really believe that anything good will result... biggest problem is still the traffic conditions! :doh: Second problem is the proximity between condo buildings is simply too too close for comfort! No view except into one another's living rooms and bedrooms! :banghead:
blackjack21trader
16-06-11, 07:59
Give it another 3 years then we'll judge it again... don't really believe that anything good will result... biggest problem is still the traffic conditions! :doh: Second problem is the proximity between condo buildings is simply too too close for comfort! No view except into one another's living rooms and bedrooms! :banghead:
The road there is a bit narrow, I agree. Hope they can come out something fast as this location is near to city also, what a waste :)
I can see geylang traditional business going downhill due to the raids. Where do these businesses go to? I think balestier should be one of the new growth areas.
I can see geylang traditional business going downhill due to the raids. Where do these businesses go to? I think balestier should be one of the new growth areas.Geylang got good food and cheap hotels. Balestier also got good food and cheap hotel! See the resemblence? :p
proud owner
16-06-11, 09:04
i always hold this belief...
you give it an Ang moh name .. it will gain crowd ..
Balestier sounds more ang moh than Geylang
Zhongshan park = attract china crowd
weighing all the + and - .... balestier will be hard to become very popular ..
agree with most ... that narrow road is a big issue ...
how to wide ? tear down the front row of shop houses ?
then it loses one of its major attractions
so it will be a difficult decision ..
if i have to buy something .. it will be closer to thomson road end of the balestier road
propertyguru
17-06-11, 03:33
i always hold this belief...
you give it an Ang moh name .. it will gain crowd ..
Balestier sounds more ang moh than Geylang
Zhongshan park = attract china crowd
weighing all the + and - .... balestier will be hard to become very popular ..
agree with most ... that narrow road is a big issue ...
how to wide ? tear down the front row of shop houses ?
then it loses one of its major attractions
so it will be a difficult decision ..
if i have to buy something .. it will be closer to thomson road end of the balestier road
I agree. The key to good value, in my view, is to pay D12 prices and enjoy D11 neighbourhood. Balestier is still cheaper than Novena, but if you purchase a place sufficiently near Thomson Road, you are still paying Balestier prices but you will enjoy the quieter environment of Thomson (only one budget hotel on that end). I see no point, on the other hand, of paying $1,500 psf for a place in the middle of Balestier Road, where you will be subjected to traffic congestion and noise pollution. There are good buys in bad districts, and bad buys in good districts, so it may not be proper to generalise about a district in its entirety.
why beacon height cannot move?? freehold but transacted slightly above $1000psf.
I also want to know why cannot move. Looks quite nice but somehow people shun it. Maybe St. Michael too congested and traffic bad.
I also want to know why cannot move. Looks quite nice but somehow people shun it. Maybe St. Michael too congested and traffic bad.
Motorcycle shops, really bad traffic, old shophouses, dilapidated warehouses, plusresidents there not of the highest quality.... Hence cannot sell....
Wait for that road construction to be completed then it'll be much better road conditions. :) Then again Beacon Hts is simply too deep a walk in.
Wait for that road construction to be completed then it'll be much better road conditions. :) Then again Beacon Hts is simply too deep a walk in.
After walking so deep in, u find itself right next to e busy CTE instead of greenery n peace.
After walking so deep in, u find itself right next to e busy CTE instead of greenery n peace.Hahaha.. you are so right! :D
kingkong1984
17-06-11, 08:47
got water view leh.... on the ground.. long long one. Duno got fish or not.
Sorry make a mistake, the following are the proper rankings as per earlier Real Estate Agent Seminar organised by Huttons in March this year.
Ranking Price $psf (highest) Average
(1st) District 9/10 (Orchard/RV) 4,500 2,300
(2nd) Marina/Shenton/ Tjg Pagar 3,300 2,050
(3rd) District 15 (Amber/Meyer) 2,700 1,700
(4th) Sentosa/Harborfront (D4) 2,500 1,600
(5th) Bukit Timah/Holland Rd 2,300 1,400
Does this ranking apply to condos only or landed property too? Would be interesting to know how the landed properties rank.
And it's quite surprising to see D15 so high up there, even above Sentosa and Bukit Timah/Holland? Really?
More expats looking at Balestier for affordable homes
Jul 9, 2012 - PropertyGuru.com.sg
By Romesh Navaratnarajah:
Homes in Balestier are becoming a preferred choice for buyers, especially among expatriates who cannot afford to buy expensive city centre properties.
While units in Balestier are usually 20 percent more affordable than nearby prime areas, they are still fairly central. In the past year, new condos such as Nova 88 have been built in the area supplying over 400 new homes.
Chia Siew Chuin, Director of Research and Advisory at Colliers International, revealed that another 1,400 new homes are expected to be ready in the vicinity by 2015.
As a sign of healthy property sales, Far East Organization’s Vista Residences (pictured) at Jalan Datoh has eight units remaining – four-bedroom penthouses are going at S$4.3 million or S$1,800 psf.
Launched last year, EL Development’s Skysuites 17 has only one penthouse left.
Chia added that rents in Balestier have also inched up this year. On average, monthly rents stood at S$3.35 psf in April and May, higher than December’s S$2.98 psf.
As for freehold condos, resale prices are 15 to 20 percent lower than in Novena and seven to 10 percent less than in Toa Payoh, noted Ong Kah Seng, Director at R'ST Research.
Meanwhile, more investors and expats are looking at shoebox units, especially small to mid-sized condos such as Okio.
Over at Skysuites 17, investors accounted for about half of the buyers and around 40 percent of the units are sized below 500 sq ft, noted Lim Yew Soon, Managing Director at EL Development.
Experts attribute Balestier’s appeal to its good food, old world charm and attractions.
Balestier is now also a popular place for tourists on a limited budget to stay while in Singapore.
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d2002652-Reviews-Ibis_Singapore_Novena-Singapore.html
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d299607-Reviews-Quality_Hotel_Singapore-Singapore.html
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d1385699-Reviews-Value_Hotel_Balestier-Singapore.html
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d1511494-Reviews-Value_Hotel_Thomson-Singapore.html
:D
propertychap
10-07-12, 14:54
I am also of the opinion that the end nearer to the Thomson end will be a better choice in terms of value if really got to choose Balestier. The Arte was a good buy back in 2009 as it is so close to Thomson road.
Can look at older developments around there like the Citrine and Global Ville. Vista residences is probably TOP next year. Anyone has vested interest in this part of Balestier road?
I am also of the opinion that the end nearer to the Thomson end will be a better choice in terms of value if really got to choose Balestier. The Arte was a good buy back in 2009 as it is so close to Thomson road.
Can look at older developments around there like the Citrine and Global Ville. Vista residences is probably TOP next year. Anyone has vested interest in this part of Balestier road?
Near to Thomson area is definitely better than towards Whampoa side..
Condos like The Arte, Vista Res... up to Domus, iResidences..
i also have vested interest in Balestier... specifically at the Thomson end, for the very same reasons as some have mentioned, enjoy D11 proximity but at D12 pricing (back when I bought)... I work in orchard and its 10-15min away (to cairnhill carpark via thomson/newton), and its 25 - 30min max to the far flung places like Changi or Kranji in either direction. in my view its as central as it gets...
i was really hoping that the thomson mrt line would swing nearer by to balestier/thomson junction, but it seems the nearest thomson mrt will now be whitley, nearer CJC.
i doubt the shophouses will go... these are earmarked as conservation areas, likely to be preserved, which will keep some of the charm of this place. without the shophouses going, there will be little chance of road widening, so i can't see how the traffic will get any better...
Balestier is now also a popular place for tourists on a limited budget to stay while in Singapore.
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d2002652-Reviews-Ibis_Singapore_Novena-Singapore.html
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d299607-Reviews-Quality_Hotel_Singapore-Singapore.html
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d1385699-Reviews-Value_Hotel_Balestier-Singapore.html
http://www.tripadvisor.com.sg/Hotel_Review-g294265-d1511494-Reviews-Value_Hotel_Thomson-Singapore.html
:D
Popular yes. But good quality? ...
Most of the reviews are negative. But human nature to spread the word about bad stuff and reserve the positive compliments I guess. What do they expect? Orchard standard hotels in Balestier? Actually it is quite obvious from the name of the hotels... VALUE.... QUALITY...
UltimateAro888
14-07-12, 22:45
I did consider balestier before.. After looking at few launches, decided not too
1) Far from MRT. The nearest is TOA PAYOH MRT. Apparently, those I launces I seen are those near to the hilghway, where there is an overhead bridge across to Toa Payoh centre. It was advertised like 8-10 mins walk..
I tried, after walking 15 mins in hot sun, I am still half way at overhead bridge across the highway!
2) A lot of temples around that area. Lots of burning of incense. When i was viewing one of those new launches, I saw ashes flying around and settling down right in front .
I did consider balestier before.. After looking at few launches, decided not too
1) Far from MRT. The nearest is TOA PAYOH MRT. Apparently, those I launces I seen are those near to the hilghway, where there is an overhead bridge across to Toa Payoh centre. It was advertised like 8-10 mins walk..
I tried, after walking 15 mins in hot sun, I am still half way at overhead bridge across the highway!
2) A lot of temples around that area. Lots of burning of incense. When i was viewing one of those new launches, I saw ashes flying around and settling down right in front .
U decided not too.. it is becos..
1) You (or even your family members) rely on MRT so much as it is the main form of transportation?
2) You must be looking at those units towards Whampoa side & not Thomson side (or maybe you are not too familiar)
So is really up to individual between..
Near MRT Trevista 99-yr leasehold vs away from MRT The Arte / Vista Res freehold, say both psf is about the same..
UltimateAro888
15-07-12, 22:13
U decided not too.. it is becos..
1) You (or even your family members) rely on MRT so much as it is the main form of transportation?
2) You must be looking at those units towards Whampoa side & not Thomson side (or maybe you are not too familiar)
So is really up to individual between..
Near MRT Trevista 99-yr leasehold vs away from MRT The Arte / Vista Res freehold, say both psf is about the same..
Currently, I drive to work and children take schoolbus and public bus to school. I see long term, it will become more and more expensive to own car.
Current place i stayed, it take them 2 public buses for them to reach home...
Long term, definitely better to stay near MRT.
Anyway, the Trevista is in Toa Payoh rite ? Not balestier.. My point is any condo in Balestier is no way near MRT.
Anyway, I have just bought a 99 year near MRT TOP in 3 years time. Very very near MRT. Expensive tough, but think of all the convienient for family i think is worth it.
thanks
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.