View Full Version : MRT changing OCR and CCR concept permanently?
Eldenfirefly
19-07-11, 11:38
Hi,
Would just like to bring this up for discussion. I believe the MRT system and its future lines are bringing about a permanent increase in the property prices and value of OCR condos.
Looking at all the new MRT stations, the completion of circle line all stages soon, and the future MRT lines. I link this with the large increase in prices of the outer region condos as compared to central.
In the past, distance was a much bigger factor and natrally, the nearer you are to the central region, the better because it would mean less travel time. The initial 2 MRT lines NS and EW line only reaffirmed that, because only the central region can quickly change lines and the lines went outwards from the centre mostly.
The circle line, and the upcoming line will redefine this entire concept. No longer will it be necessary to take an MRT to the centre and change lines there. You use circle line, and other future lines to change lines. This has dramatically increased the connectivity and hence desirability of outer lying stations and hence areas.
The increased car traffic in Singapore and traffic congestion has also meant that transport travel via MRT is valuable in its own right. If they are having an F1 event or NDP event. You are advised to take the train anyway because the roads will be closed. In fact, the train, even if congested at least gaurantees arrival within a fixed time. Taking a car and then running into a 2 hour jam does not even have that kind of reliability.
This means that we may be looking at a permanent increase in the attractiveness and pricing of OCR condos, especially those which have easy access to MRT. This explains why even places like Lakeside, Tampines, etc which in the past would have been seen as very far very the centre and seeing over 1000 psf for condo launches.
If we look forward, by 2020, pretty much most areas in Singapore will be well linked by MRT by then. When that happens, will people be choosing property more based on whehter they get a good view, a sea view, a park view, the more immediate ammenities and good schools within walking distance? Because by 2020, it may be that if you want to reach the city centre or the CBD area, it will take 30 minutes for most people because of MRT.
Lets be realistic about MRT as a transportation mode.
MRT today are jam packed during peak hours and it will get worst as the population increase. And when the number of stations increases, so will be your travelling time from OCR to CCR. It is not going to cut short your travelling time dramatically.
The reason why central will always have the highest concentration of people because it is the most convenient meeting points for everyone and for business or leisure.
phantom_opera
19-07-11, 11:58
Both of you have extreme views, the truth lies somewhere in between :)
rattydrama
19-07-11, 12:12
OCR away from MRT will suffer slow appreciation.
Lets be realistic about MRT as a transportation mode.
MRT today are jam packed during peak hours and it will get worst as the population increase. And when the number of stations increases, so will be your travelling time from OCR to CCR. It is not going to cut short your travelling time dramatically.
The reason why central will always have the highest concentration of people because it is the most convenient meeting points for everyone and for business or leisure.
From what you say MRT is all the more relevant. We are heading(population density wise) towards the direction of cities like Hong Kong, Tokyo...etc. Worse still don't forget that we don't have a hinterland, we are a city state. This makes connectivity by MRT very important in OCR.
It will still be proximity to central area. The MRTs are differentiated by:
1. MRTs located nearer central will command a premium over outlying MRTs (e.g. Bishan MRT vs Boon Lay MRT).
2. MRTs at intersections will command a premium (e.g. Serangoon MRT vs Hougang MRT).
That's how I see property prices moving within the MRT domain itself. Even if your property is not at MRT doorstep, but within 1km from MRT, it will still command a premium e.g. Clover will command a premium over Centris.
The faster you get home by MRT, the better since you won't have to put up with the smell and crowd for too long.
1) CCR with MRT and Premier schools or Shopping Malls nearby
2) CCR in general
3) MRT within 300m/5mins walk and within 4-5 MRT station from Orchard or Raffles Place. (Basically the area within the area of the CCL)
4) MRT within 300m/5mins walk from all other stations
Sea-facing/River-facing/Unblocked/Iconic design/Exclusive.
In addition to layout/NS facing/high-rise/mountain behind-sea in-front
From what you say MRT is all the more relevant. We are heading(population density wise) towards the direction of cities like Hong Kong, Tokyo...etc. Worse still don't forget that we don't have a hinterland, we are a city state. This makes connectivity by MRT very important in OCR.
MRT will improve the connectivity within the OCR region, however it will not drastically reduce the the traveling time to CCR. Hence if you are working in CBD for example, you are unlikely to want to move further outskirt because there is a new MRT line.
And CCR being the home of CBD, the meeting point for most businesses, shoppers, tourist etc will always command a higher value due to the quantity and quality of jobs available in CCR region.
For me, the key to sustainable property appreciation in OCR is the availability of jobs rather than MRT station.
For me, the key to sustainable property appreciation in OCR is the availability of jobs rather than MRT station.
The availabilty of jobs affect both OCR and CCR. It affects everything and everyone. But the MRT affects the OCR more directly.
I believe for a country like Singapore, MRT is the way to go. In Manhattan, taking the subway is a lifestyle, even top executives earning megabucks take the subway to work. In Singapore we just have not built it into our psyche yet maybe because the connectivity is still lacking.
Jonathan0503
19-07-11, 14:06
The availabilty of jobs affect both OCR and CCR. It affects everything and everyone. But the MRT affects the OCR more directly.
I believe for a country like Singapore, MRT is the way to go. In Manhattan, taking the subway is a lifestyle, even top executives earning megabucks take the subway to work. In Singapore we just have not built it into our psyche yet maybe because the connectivity is still lacking.
Don't think it's purely due to lacking of connectivity but because driving in Singapore is till relatively hassle-free compared to other major cities in the world
The availabilty of jobs affect both OCR and CCR. It affects everything and everyone. But the MRT affects the OCR more directly.
I believe for a country like Singapore, MRT is the way to go. In Manhattan, taking the subway is a lifestyle, even top executives earning megabucks take the subway to work. In Singapore we just have not built it into our psyche yet maybe because the connectivity is still lacking.
JLD is one of the hottest OCR property at the moment, and the main driver behind the crazy property price has got nothing to do with new MRT station, but rather the JLD development that will bring in tenths of thousand of skilled and white collar jobs.
MRT will make connectivity better, but its impact will be very localize around the station, rather than widespread like JLD.
Eldenfirefly
19-07-11, 14:18
I am not saying OCR will become more expensive than CCR. That should not happen. But the rate of appreciation of OCR will be higher than CCR. Last time CCR used to say they are in the central region, so that's part of the premiun.
But nowadays, in central region means kenna ERP, means traffic jam, and everywhere in future will have MRT, so the location aspect of CCR will be not as powerful in future.
Instead, it may be the other aspects. So, MRT is changing the OCR and CCR concept permanently. Maybe last time, CCR will command a much bigger permium than OCR. In future, this may not necessarily be the case. The premium will narrow, and it is a permanent narrowing.
Don't think it's purely due to lacking of connectivity but because driving in Singapore is till relatively hassle-free compared to other major cities in the world
That's true, but at what price? the cost of a car can buy you a home, it just doesn't make economic sense.
(btw, I am not against cars in fact I lurrvve cars and have burnt many holes in my pockets loving them)
Eldenfirefly
19-07-11, 14:27
I agree with howgozit. Singapore may be moving towards driving car being a luxury and mostly for people who are very rich. They are reducing the number of parking spaces available in the city, so next time, even if have money also maybe difficult to drive to work in the city because no place to park.
That's why MRT will become even more important, and that will change the concept of CCR and OCR. The two will never be totally equal, but the ap will narrow, and maybe in future, there will be some exclusive places outside of CCR which command very high prices also.
Either that, or CCR will get "expanded" to encompass the entire area all within easy reach of circle line.
But why u think companies are moving to OCR location?
Cause of cost cutting.. and cost cutting is not just in the office rent..but as well as benefits to employees..
How much appreciating to OCR property these people will be able to provide, working for compaies trying to cut cost?
typical trend of property boom:
1. Prices of properties in prime location will raise fastest and highest in the initial stage of property boom.
2. Next to rise is those in RCR.
3. The last to raise is OCR properties.
By now, the people will have their money exhausted. The last stage is a property crash.
Then the cycle repeats itself again.
Eldenfirefly
19-07-11, 14:47
Got no choice lor. Increasing demand = higher prices.
CCR no matter what will be more expensive for these people so that's not an option either. If you can't even afford OCR, then what more CCR?
I am not saying OCR will become more expensive than CCR. That should not happen. But the rate of appreciation of OCR will be higher than CCR. Last time CCR used to say they are in the central region, so that's part of the premiun.
But nowadays, in central region means kenna ERP, means traffic jam, and everywhere in future will have MRT, so the location aspect of CCR will be not as powerful in future.
Instead, it may be the other aspects. So, MRT is changing the OCR and CCR concept permanently. Maybe last time, CCR will command a much bigger permium than OCR. In future, this may not necessarily be the case. The premium will narrow, and it is a permanent narrowing.
Lets get very realistic about OCR properties. how much the property prices can appreciate in OCR will depends very much on the income growth and affordability, not weather if MRT line has suddenly shifted the OCR border to over lap with CCR or vice versa.
At the moment Singaporeans seem very "comfortable" buying $1.3kpsf OCR properties. Once the tide retreat, (interest rate up, job cuts, recession, drop in valuation etc) then you will see how many people these are actually swimming naked.
I agree with howgozit. Singapore may be moving towards driving car being a luxury and mostly for people who are very rich. They are reducing the number of parking spaces available in the city, so next time, even if have money also maybe difficult to drive to work in the city because no place to park.
That's why MRT will become even more important, and that will change the concept of CCR and OCR. The two will never be totally equal, but the ap will narrow, and maybe in future, there will be some exclusive places outside of CCR which command very high prices also.
Either that, or CCR will get "expanded" to encompass the entire area all within easy reach of circle line.
Does NSL reduce the gap between Orchard/Somerset/newton/novena and, say, Yishun?
or Has EWL ever help to close the gap Significantly between Orchard/Somerset/newton/novena and, say, Boon Lay?
I agree that more MRT lines make OCR more commutable and accessible, the price gap between CCR and OCR may become smalle, but the more significant impact will be on the price gap between RCR and OCR
Eldenfirefly
19-07-11, 14:58
But I think we shouldn't under estimate the power that the increased connectivity that the MRT lines bring about. With each new MRT station being built, the entire connectivity of the whole MRT network increases.
And if most of Singapore is equally well connected, then the MRT exchange stations become more valuable, and the places with additional selling points besides just being well connected will also be more valuable.
CCR used to be like that, primarily because of the connectivity issue. But the greater the connectivity of the rest of Singapore, then the less powerful that selling point will be to CCR.
Hong Kong has a very efficient underground tunnel system where cars can get from one place to any other in just half an hour. But the basic property trend still hold. The most prime location will be the first to see the biggest increase in price. The last to see the biggest increase are properties in the worst location. Then a crash will happen. The old hierarchy of ranking locations still persist, more or less.
Eldenfirefly
19-07-11, 15:10
CCR will always be more ex. But the gap will narrow.
the gap will widen again after crash and then come the initial stage of another property boom.
Also in the past properties in CCR will be easier to sell off even during a crash (if you need money urgently and do not mind selling at a loss). Those in OCR will have a more difficult time selling off their houses during a crash. But it may be true that those near to MRT in OCR will have a much easier time selling though.
CCR will always be more ex. But the gap will narrow.
Depending on which segment of the CCR properties.
Also not to forget the CCR properties are also getting their MRT line, so the price impact from MRT station should balance out.
OCR prices have moved up due to upgrader demand and not necessarily due to MRT. And upgraders typically live in OCRs. CCR prices have not moved because of sluggish foreign investments. There are also a lot more OCR new launches than CCR, with each launch driving up prices.
Developers have to sustain their profitability since there isn't much CCR launches for them to earn their big $$$ nowadays. The low interest rates work to their advantage.
Even far flung places like Foresque which is not anywhere near MRT are selling above $1,000psf.
The MRT will eventually be like a spider web, with lines directly to city and radiating lines (like circle line) that connects the various towns.
Eldenfirefly
19-07-11, 16:03
But the question is, to what extent can CCR command the big premiums they had over OCR in the past if in the future, the overall connectivity of everything is increased.
Proximity to the central region was undeniably a big factor in the past, and historically, that has been one of the main reasons for the big gap between OCR and CCR.
If in future, the overall connectivity is increased to such an extent that it is a much smaller issue for most places, then the gap will be permanently reduced. The really far places will never command the kind of psf that CCR commands. But places which are at or near the cirlce line region may not see that big a gap difference in terms of psf pricing compared to CCR because their connectivity is no worse than CCR.
Ai yoh, what is the point of speculating the effects? either you believe or you don't.
I rather believe what London has experienced will be what we will see in next 30 years, since they are more developed than we are by that number of years. The whole of London is about the same size as Singapore, so good comparison? London says, their Zone 1 prime properties (CCR) can sell at >6x that of Zone 4 (OCR) properties. :cheers1:
But the question is, to what extent can CCR command the big premiums they had over OCR in the past if in the future, the overall connectivity of everything is increased.
Proximity to the central region was undeniably a big factor in the past, and historically, that has been one of the main reasons for the big gap between OCR and CCR.
If in future, the overall connectivity is increased to such an extent that it is a much smaller issue for most places, then the gap will be permanently reduced. The really far places will never command the kind of psf that CCR commands. But places which are at or near the cirlce line region may not see that big a gap difference in terms of psf pricing compared to CCR because their connectivity is no worse than CCR.
Lets get very realistic about OCR properties. how much the property prices can appreciate in OCR will depends very much on the income growth and affordability, not weather if MRT line has suddenly shifted the OCR border to over lap with CCR or vice versa.
At the moment Singaporeans seem very "comfortable" buying $1.3kpsf OCR properties. Once the tide retreat, (interest rate up, job cuts, recession, drop in valuation etc) then you will see how many people these are actually swimming naked.
I truly agree with your opinion about comfort. Just like COE, people are getting comfortable with the current S$50K COE.
Eldenfirefly
19-07-11, 17:01
I kinda disagree with the London example. There's a lot more contral planning and long term planning by the government here. In a country like UK, for London, not as much because politics get in the way.
If you are a good central planner, you want to spread out the density a lot more. You also want to make things far more connected because you don't want over crowding all in the central area.
Leave all that to the private sector, and all the businesses and population will automatically grativate towards the centre and just make it super crowded. Leave it to the politicans only, and you get the same thing (because the companies there can pay the most), plus some special interest groups on top of that.
So, the outlying areas automatically get the least funding and hence the least amount of infrastructure built up.
Singapore has far more central planning. We already have circle line being done even before these other lines. Cities like Melbourne actually discontinued their equivalent circle lines because the traffic didn't justify the expense. But Singapore doesn't just build the MRT infrastructure, it also uses its HDB policies, release of new land to ensure that other non-city centres are formed.
Tampines 20 years ago was a backwater nothing. Tampines today is a bustling self contained newtown all by itself. So, because of this kind of difference, I think the prices will be a lot closer. Just my 2 cents. :)
But the question is, to what extent can CCR command the big premiums they had over OCR in the past if in the future, the overall connectivity of everything is increased.
Proximity to the central region was undeniably a big factor in the past, and historically, that has been one of the main reasons for the big gap between OCR and CCR.
If in future, the overall connectivity is increased to such an extent that it is a much smaller issue for most places, then the gap will be permanently reduced. The really far places will never command the kind of psf that CCR commands. But places which are at or near the cirlce line region may not see that big a gap difference in terms of psf pricing compared to CCR because their connectivity is no worse than CCR.
You got to understand that rich Singaporeans living in CCR mostly have 2 or 3 cars at home, to them MRT or ERP doesnt make much of a difference to their lives except for their kids and their helpers.
The people who will greatly benefit from the MRT are people living in he OCR because they often have to commute to CCR region for work and social gathering, while people living in CCR seldom commute outside CCR unless there is something special, e.g like looking for good food, go to the zoo etc.
Prime district will always prime district due to the exclusivity of the neighborhood, the prestige address, the environment, the community, the variety of shops, F&B outlet etc.
To most traveling 30mins to 45 mins to CCR is consider acceptable, for those living in CCR, they are only use to 10mins. So it all boils down to relative.
Eldenfirefly
19-07-11, 17:51
In some of the cities like Sydney and Hong Kong, you also see a trend where exclusivity may mean a sea view, or on a mountain, and not necessarily central region. The super rich can afford a yatche or even a helicopter!
It may well happen here in Singapore as well. Like Sentosa cove, or some exclusive rare to get view or address. It really up to the planners.
If they choose to zone and redevelop say Puala Ubin as an island which will be developed exclusively as a rich man's playground like how Dhubai did it. They can. It can have a specialised direct MRT line and highway going there. A fancy bridge. Each plot of land there maybe priced at 3000 psf or more. Only 100 landed freehold available, so super excluvie. Each with their own mooring for a yatche, and each with a carpark big enough for 10 cars, etc etc.
Exclusivity does not have to always mean central region. Exclusive just means only a few can afford or be lucky enough to get that area's address.
In some of the cities like Sydney and Hong Kong, you also see a trend where exclusivity may mean a sea view, or on a mountain, and not necessarily central region. The super rich can afford a yatche or even a helicopter!
It may well happen here in Singapore as well. Like Sentosa cove, or some exclusive rare to get view or address. It really up to the planners.
If they choose to zone and redevelop say Puala Ubin as an island which will be developed exclusively as a rich man's playground like how Dhubai did it. They can. It can have a specialised direct MRT line and highway going there. A fancy bridge. Each plot of land there maybe priced at 3000 psf or more. Only 100 landed freehold available, so super excluvie. Each with their own mooring for a yatche, and each with a carpark big enough for 10 cars, etc etc.
Exclusivity does not have to always mean central region. Exclusive just means only a few can afford or be lucky enough to get that area's address.
Well, right now exclusivity means D9/10/11, CBD, and Sentosa, and to some extent east coast, the exclusivity is not built solely on the accessibility or convenience: there are just much more to it
new MRT lines will definitely increase the value of properties within walkable distance to the new stations, but this convenience premium is rather small compared to the gap between the "prime CCR" and OCR
No need to look far but just the price gap between TPY and Newton/Novena which is only one or two MRT station apart, but the price difference is significant
In short, MRT can improve the accessibility and livability, but it can never create the "exclusivity" which is the key ingredient of prime area
I kinda disagree with the London example. There's a lot more contral planning and long term planning by the government here. In a country like UK, for London, not as much because politics get in the way.
If you are a good central planner, you want to spread out the density a lot more. You also want to make things far more connected because you don't want over crowding all in the central area.
Leave all that to the private sector, and all the businesses and population will automatically grativate towards the centre and just make it super crowded. Leave it to the politicans only, and you get the same thing (because the companies there can pay the most), plus some special interest groups on top of that.
So, the outlying areas automatically get the least funding and hence the least
amount of infrastructure built up.
Singapore has far more central planning. We already have circle line being done even before these other lines. Cities like Melbourne actually discontinued their equivalent circle lines because the traffic didn't justify the expense. But Singapore doesn't just build the MRT infrastructure, it also uses its HDB
policies, release of new land to ensure that other non-city centres are formed.
Tampines 20 years ago was a backwater nothing. Tampines today is a bustling self contained newtown all by itself. So, because of this kind of difference, I
think the prices will be a lot closer. Just my 2 cents. :)
Try and google the London tube, hong kong mtr and Tokyo JR then you compared it with our MRT lines and you will know what Teddy and jadey is talking about.... Their rail lines is so many more times better than ours and when you are convinced that these three cities have more dense rail lines than us, then go compare their CCR and OCR prices and you will find the conclusion yourself.... Cheers
stalingrad
19-07-11, 19:51
listen these garbage uttered by these ignorant people. if they are right, then why have prices in CCR not moved in the last 5 years, but prices in OCR have doubled? evidence speak volumes about their ignorance.
haha, morons pretend to be guruses.
:scared-4: He appeared again..... Run run!!!!
Actually people pay pricy premium to be near mrt only happened recently. E.g. Last time developer sales of casa merah, woodsville 28, caspian, mi casa, one leicester, kovan twins all don't have such premiums leh.
:beats-me-man:
Your tortoise in the well is it?
15 years ago when London zone 1 property prices are >3x of Zone 4, people say stupid to buy in zone 1, sure fall one with better train connectivities, public transport etc. Gap sure narrow & they seem to be right at that particulat time! some more more parking spaces for park & ride & super cheap some more, who need to live in zone 1 CCR? 15 years later zone 1 prices become 6x of zone 4! :p
Just like stock prices, the gap just narrow temporarily to suck in all these idiots lured by the govt policies that make buying new launch on govt sold land more attractive (coffee shop talks going on). Wait 15 years later & you come back to me I right or wrong?
listen these garbage uttered by these ignorant people. if they are right, then why have prices in CCR not moved in the last 5 years, but prices in OCR have doubled? evidence speak volumes about their ignorance.
haha, morons pretend to be guruses.
In some of the cities like Sydney and Hong Kong, you also see a trend where exclusivity may mean a sea view, or on a mountain, and not necessarily central region. The super rich can afford a yatche or even a helicopter!
It may well happen here in Singapore as well. Like Sentosa cove, or some exclusive rare to get view or address. It really up to the planners.
If they choose to zone and redevelop say Puala Ubin as an island which will be developed exclusively as a rich man's playground like how Dhubai did it. They can. It can have a specialised direct MRT line and highway going there. A fancy bridge. Each plot of land there maybe priced at 3000 psf or more. Only 100 landed freehold available, so super excluvie. Each with their own mooring for a yatche, and each with a carpark big enough for 10 cars, etc etc.
Exclusivity does not have to always mean central region. Exclusive just means only a few can afford or be lucky enough to get that area's address.
the market already priced in all u have said. central sea view- 3k psf, OCR water view $1100. D10 lush central exclusive greenery view 2000+ psf, hillview $1400(top psf). SR highway view + sound $2000, west coast OCR highway sound + view $1000psf.
wheather it will converge is a simple function of $$$$. If $$$ is not an option, would u stay marina bay water view or u prefer punggol pond view? if u can afford 2.5k psf will u buy punggol or tampiness given its many MRT and many malls or parks or what not or u go for similar but better CCR offerings. if u dont mind, then it will converge lor and OCR will be the best place to stay and price will reach 2k psf soon lor.
1 genius suggest OCR 5 years chong n CCR never move, good lah. in 5 more years we can see newspaper pple sell CCR and upgrade to OCR lor. Qn is simple, do u mind pay 2k psf n stay in example jurong lakeside? if yes then hurray for OCR lor.
It boils down to factors like MRT station, proximity to town and workplace, and affordability.
It boils down to factors like MRT station, proximity to town and workplace, and affordability.
thus in OCR, no MRT = KO!
Looking at the planning of mrt lines, there are many more mrt stations as you go closer to the CBD. If you stay anyway between city fringe and CBD, you can literally take a short walk or take a short bus ride from one line to another line or even more than 2 lines.
Eldenfirefly
20-07-11, 11:04
CCR will always be more expensive than OCR. The question is how much more expensive? :) I believe the extensive MRT lines which are coming will reduce that gap permanently. It will not close completely, but will at least be closer.
CCR will always be more expensive than OCR. The question is how much more expensive? :) I believe the extensive MRT lines which are coming will reduce that gap permanently. It will not close completely, but will at least be closer.
I thought many of the new mrt stations will be located in the RCR and CCR region? Wont that boost the price of the properties around the area?
Eldenfirefly
20-07-11, 12:02
Isn't RCR part of OCR last time?
Isn't RCR part of OCR last time?
this is the map I use for reference.
http://spring.ura.gov.sg/lad/ore/login/map_ccr.pdf
Eldenfirefly
20-07-11, 12:17
Correct then. So CCR is basically district 9,10,11. Everything else is OCR mah. With circle line, and other lines, the regions near to circle line will get closer to CCR in terms of PSF though the gap will never be completely closed.
Correct then. So CCR is basically district 9,10,11. Everything else is OCR mah. With circle line, and other lines, the regions near to circle line will get closer to CCR in terms of PSF though the gap will never be completely closed.
The area within the central region boundary lines are all classified as Central Region. Those highlighted area are CCR. OCR is those area outside the central region boundary lines.
Another point all of you have missed out is that alot of this price trend is directly linked to the developers. Most of the units sold are below 2m SGD no matter what the psf is. As land is truly limited in central region, developers are trying for quick bucks in the OCR region, pricing most of their units below 2m. This is because they know that alot of people are be able to 'afford' these units.
The price gaps between new and old launch is too big. And looking at the transaction done, i will guess that >80% of the buyers go for newly TOP or U/C units.
rattydrama
20-07-11, 13:25
Another point all of you have missed out is that alot of this price trend is directly linked to the developers. Most of the units sold are below 2m SGD no matter what the psf is. As land is truly limited in central region, developers are trying for quick bucks in the OCR region, pricing most of their units below 2m. This is because they know that alot of people are be able to 'afford' these units.
The price gaps between new and old launch is too big. And looking at the transaction done, i will guess that >80% of the buyers go for newly TOP or U/C units.
the developer price high for OCR, next bull run for CCR coming? Everyone huat if you have a private now.
Any ppty with 500m to MRT should be good. If there are good amenities and schools, its a plus point. There are many mrt stations but only that many but population may increase. If you have big pockets go get one nearer to town. But if the price is too expensive and rental yield least attractive, generally pple will settle for next best.
stalingrad
20-07-11, 13:33
one of the trends many have missed is that the government is promoting alternative CBDs and businesses are leaving the old CBD. jurong, Tampines, Changi will flourish as more and more businesses move in.
One day, the downtown CBD will be just one of many CBD's, and there is no need for employees of businesses to travel a long way to the old downtown CBD. when that day comes, prices will truly equalize. What we are seeing is just a preview of what future holds for Singapore, an island with no suburbs and equalized property prices.
one of the trends many have missed is that the government is promoting alternative CBDs and businesses are leaving the old CBD. jurong, Tampines, Changi will flourish as more and more businesses move in.
One day, the downtown CBD will be just one of many CBD's, and there is no need for employees of businesses to travel a long way to the old downtown CBD. when that day comes, prices will truly equalize. What we are seeing is just a preview of what future holds for Singapore, an island with no suburbs and equalized property prices.
These alternate(fake) CBDs have low earning working..mostly earning 6-10K.. how they gonna afford 2M house..Hell, how they even gonna afford 4-5K rental of these houses ?
stalingrad
20-07-11, 14:01
These alternate(fake) CBDs have low earning working..mostly earning 6-10K.. how they gonna afford 2M house..Hell, how they even gonna afford 4-5K rental of these houses ?
give it time. you think that the doctors at the new jurong hospital will only 6-10k?
Alan Shearer
20-07-11, 14:06
Never happen Stally boy!
You are dreaming.
Allthepies
20-07-11, 14:22
one of the trends many have missed is that the government is promoting alternative CBDs and businesses are leaving the old CBD. jurong, Tampines, Changi will flourish as more and more businesses move in.
One day, the downtown CBD will be just one of many CBD's, and there is no need for employees of businesses to travel a long way to the old downtown CBD. when that day comes, prices will truly equalize. What we are seeing is just a preview of what future holds for Singapore, an island with no suburbs and equalized property prices.
although it is to my advantage that what u say becomes reality, but i don't think this is going to happen :D orchard is always orchard and no way it can be replaced by jurong east or tampines =) unless government start tearing down all the shopping centres and hotels and condos there and replace with HDB, market and hawker centres....
one of the trends many have missed is that the government is promoting alternative CBDs and businesses are leaving the old CBD. jurong, Tampines, Changi will flourish as more and more businesses move in.
One day, the downtown CBD will be just one of many CBD's, and there is no need for employees of businesses to travel a long way to the old downtown CBD. when that day comes, prices will truly equalize. What we are seeing is just a preview of what future holds for Singapore, an island with no suburbs and equalized property prices.
Tampines and JLD are not CBD, they are commercial hub. There can only be one CENTRAL BD in Singapore as many businesses will always remain in CBD due to the proximity of companies from related industry.
Among the commercial hub, i think Jurong gateway will have the biggest potential to attract companies away from CBD.
stalingrad
20-07-11, 14:33
Tampines and JLD are not CBD, they are commercial hub. There can only be one CENTRAL BD in Singapore as many businesses will always remain in CBD due to the proximity of companies from related industry.
Among the commercial hub, i think Jurong gateway will have the biggest potential to attract companies away from CBD.
one central CBD may remain, but just by shifting the center of gravity from CBD to outlying area, the government will cause prices to continue to equalize. there may still be a gap, but this gap will be the smallest by historical standards.
come to think of it, if a NUS graduate from Tampines can find a job at DBS bank near his home, why would he bother to come to CBD.
I for one have not been in CBD for years. I have never visited ION. the only thing I know about it is through unflattering news reporting. I know it is prone to flooding and businesses are demanding lower rent.
give it time. you think that the doctors at the new jurong hospital will only 6-10k?
Doctors earn a lot less than you think here. Look at http://www.salary.sg/2010/top-100-jobs-in-singapore-2010/
General physician – $10,979 - 3rd quartile
Also how many at one hospital? 300? 500?
Anyhow, I wish you luck with the dream that your middle of nowhere condo will be equal to CCR.
First must start to tear down all the malls on Orchard and replace with wet market and HDB.
Singapore will be first country in the world to have achieved such a scenario
ps and by definition can only have 1 CBD - C stands for central
Alan Shearer
20-07-11, 15:53
The gap will widen and so it should do.
100% certainty.
Downtown will soar.
stalingrad
20-07-11, 15:56
The gap will widen and so it should do.
100% certainty.
Downtown will soar.
good luck. Teddy has been saying that for years. he is still waiting, and so are you.
the fact is with rental yield at prime districts at record lows, you will need a miracle for your dream to come true.
Guys let's take a vote.... jurong Lake district 2000 psf, orchard 2300 psf..... May I know who will choose jurong and who will choose orchard?
Eldenfirefly
20-07-11, 16:50
The area within the central region boundary lines are all classified as Central Region. Those highlighted area are CCR. OCR is those area outside the central region boundary lines.
Hmmm, dunno leh. Your definition of CCR is rather broad. Last time, if you tell people that Marine Parade, Bishan, Marymount all belong to central area, I think they will laugh. :)
iwantgizmos
20-07-11, 16:51
Guys let's take a vote.... jurong Lake district 2000 psf, orchard 2300 psf..... May I know who will choose jurong and who will choose orchard?
lol... for 2000 psf, if Jurong Lake comes with gold tap/shower and ivory furnishings I'll take... ;)
Hmmm, dunno leh. Your definition of CCR is rather broad. Last time, if you tell people that Marine Parade, Bishan, Marymount all belong to central area, I think they will laugh. :)
thats not my definition, that is the URA definition which the property industry is using as reference.
stalingrad
20-07-11, 16:56
Guys let's take a vote.... jurong Lake district 2000 psf, orchard 2300 psf..... May I know who will choose jurong and who will choose orchard?
the fact you agree that a gap of 300 would one day become reality is a sign of your adaptability. unlike others, who hind their heads in the sign, you are adapting to the new reality pretty quickly.
kudos to you.
Scoreline orchard 1 JLD 0,keep the votes coming in... Let's have a feel from fellow forummers if the gap between CCR and OCR will close...
Eldenfirefly
20-07-11, 16:57
Even that definition might be challanged soon by the areas around circle line MRT's seeing much upside. Serangoon is not in that area right? But if you were to launch a freehold condo right next to Serangoon MRT and its new shopping centre, I think the psf will be very high.
Scoreline orchard 1 JLD 0,keep the votes coming in... Let's have a feel from fellow forummers if the gap between CCR and OCR will close...
Orchard 2300psf? possible meh?
I dun think so but according to mr stanlingrad the gap is going to close up, OCR is going thru the roof while CCR will stagnate.... So I just wonder when this day come, where will forummer choose to buy their properties...
OCR S$2000 psf? Sure, it will come one day! May be in 2030?
But by then, CCR at >S$8000 psf! :p
I dun think so but according to mr stanlingrad the gap is going to close up, OCR is going thru the roof while CCR will stagnate.... So I just wonder when this day come, where will forummer choose to buy their properties...
Jonathan0503
20-07-11, 18:05
Guys let's take a vote.... jurong Lake district 2000 psf, orchard 2300 psf..... May I know who will choose jurong and who will choose orchard?
It's a no brainer.
Anyway, orchard now easily exceed 2300psf for new developments
the fact you agree that a gap of 300 would one day become reality is a sign of your adaptability. unlike others, who hind their heads in the sign, you are adapting to the new reality pretty quickly.
kudos to you.
For me I will pick Orchard in no time.
How about you? Will you choose Jurong at 2000psf rather than Orchard at 2300?
Guys let's take a vote.... jurong Lake district 2000 psf, orchard 2300 psf..... May I know who will choose jurong and who will choose orchard?
I will choose Jurong now at 1,000psf if I think it will go up to 2,000psf and Orchard stagnates at 2,300psf.
yeah. Good luck to all those who bought OCR recently. Go ahead and buy more since it will go to 2000fps in no time. I encourage the optimistic to do so.
flagship74
20-07-11, 19:03
yeah. Good luck to all those who bought OCR recently. Go ahead and buy more since it will go to 2000fps in no time. I encourage the optimistic to do so.
Oh Yeah....:D
yeah. Good luck to all those who bought OCR recently. Go ahead and buy more since it will go to 2000fps in no time. I encourage the optimistic to do so.
Yeah. Buy Buy Buy. Bring up the OCR prices!:D
Very funny! Think only? Think but no action? :beats-me-man:
I will choose Jurong now at 1,000psf if I think it will go up to 2,000psf and Orchard stagnates at 2,300psf.
2000 psf for jurong and orchard 2300psf? that is the day human being can teleport and no need to use any transport vehicles. I will chose orchard for the bragging rights of teleporting lesser distance.
wah pian! got enough of this, getting bored of seeing this, going to vomit already. pls stop this topic:D
When we talking about psf, are we using studio, 2 bedder or 3 bedder as comparison? New launch or resale?
Ok orchard now 3000 psf, JLD 2000 where would u buy?
Very funny! Think only? Think but no action? :beats-me-man:
It's a hypothetical question mah. So, hypothetical answer lor.:tsk-tsk:
Condo Kaiser
21-07-11, 08:53
really sick of all the OCR people sprouting nonsense....
Wild Falcon
21-07-11, 10:19
From a commuters perspective, substantial time is spent:
No interchange
1) Walking from home to the MRT station (8 min)
2) Waiting time (5 min)
3) Travel time (10 min - every station 2 min)
4) Walking from MRT to destination (8 min)
Total 31 min
With interchange
5) Walk to interchange (5 min)
6) Waiting at interchange (5 min)
Total 41 min
As you can see, the travel time is actually quite short. Having travelled within CCR, I can tell u that it still take almost 30min from Orchard to your destination in Tanjong Pagar and to the new Marina downtown? Easily 40 min. Those who think that staying within CCR significantly reduce your commuting time must be mistaken - a subtantial part of the time is spent walking, waiting and making transfers. Imagine someone on a circle line who usually needs to make at least 1-2 transfers, his travelling time, transfer time and walking time would be quite unbearable. And if in CCR with NO MRT? Lagi worse - nothing can be worse than taking bus that stops every 10 meters for people to board and alight.
From a commuters perspective, substantial time is spent:
No interchange
1) Walking from home to the MRT station (8 min)
2) Waiting time (5 min)
3) Travel time (10 min - every station 2 min)
4) Walking from MRT to destination (8 min)
Total 31 min
With interchange
5) Walk to interchange (5 min)
6) Waiting at interchange (5 min)
Total 41 min
As you can see, the travel time is actually quite short. Having travelled within CCR, I can tell u that it still take almost 30min from Orchard to your destination in Tanjong Pagar and to the new Marina downtown? Easily 40 min. Those who think that staying within CCR significantly reduce your commuting time must be mistaken - a subtantial part of the time is spent walking, waiting and making transfers. Imagine someone on a circle line who usually needs to make at least 1-2 transfers, his travelling time, transfer time and walking time would be quite unbearable. And if in CCR with NO MRT? Lagi worse - nothing can be worse than taking bus that stops every 10 meters for people to board and alight.
so the lesson learn is stay at interchange station.
And mingle with the people from all walks of life, quite messy at interchange lei! :p
so the lesson learn is stay at interchange station.
Then drive lor, else walk to Orchard or Botanic Garden or Istana lor! :p
Take MRT for what? Go Tanjong Pagar for what? :doh:
From a commuters perspective, substantial time is spent:
No interchange
1) Walking from home to the MRT station (8 min)
2) Waiting time (5 min)
3) Travel time (10 min - every station 2 min)
4) Walking from MRT to destination (8 min)
Total 31 min
With interchange
5) Walk to interchange (5 min)
6) Waiting at interchange (5 min)
Total 41 min
As you can see, the travel time is actually quite short. Having travelled within CCR, I can tell u that it still take almost 30min from Orchard to your destination in Tanjong Pagar and to the new Marina downtown? Easily 40 min. Those who think that staying within CCR significantly reduce your commuting time must be mistaken - a subtantial part of the time is spent walking, waiting and making transfers. Imagine someone on a circle line who usually needs to make at least 1-2 transfers, his travelling time, transfer time and walking time would be quite unbearable. And if in CCR with NO MRT? Lagi worse - nothing can be worse than taking bus that stops every 10 meters for people to board and alight.
And mingle with the people from all walks of life, quite messy at interchange lei! :p
its messy, because they are real people. Unlikely some pretentious people living in CCR.
Wild Falcon
21-07-11, 16:10
Out of point. This is an MRT discussion - so the discussion is on how much time is saved if one takes public transport closer to the city. If one drives, lagi no difference because in Singapore, it takes ~20 min to drive everywhere - whereby 10 min is spent searching for car park or stuck in CBD traffic lights. if one drives, then the diff between the different "Rs" be it OCR or RCR or CCR becomes even more insignificant. Sometimes, the OCR or RCR is just 500m apart and if one drives like a snail at 60km per hour, the difference in travel time is only 1 min per 1 km. The big difference is when one takes public transport.
Not saying that city center shouldn't deserve a premium. just that the difference in travel time is not great, and a huge premium of >5x is probably not defensible. If OCR is 1kpsf, then CCR unlikely to hit 7k psf like one of the experts have predicted.
Then drive lor, else walk to Orchard or Botanic Garden or Istana lor! :p
Take MRT for what? Go Tanjong Pagar for what? :doh:
those who have bought OCR location recently for extremely high prices esp LH99 must be feeling worried now. So much for the justification that the gap will be closed permanently.
some OCR locations like tana merah do not even see a significant gap in price between resales and new launch, and their new launch is just next to the MRT. And the price has not increased since 2008.
I believe In terms of distance, amenities and convenience, ocr with MRT is getting there... So I am sure the prices will rise if you stay at serangoon or jurong lake district in a few years time.... I think there is only one factor which will make CCR properties still command a big premium... And that is the exclusive factor... When the rich want something they want limited supply, prestige, exclusivity and high sense of satisfaction... All these factors are not impt to us middle income coz we don't have enough money to flaunt it... So we will say we don't need all these... But once you reach that level you will want it...
And since CCR caters not just to Singaporean but the worlds rich, the just based on that alone will drive the prices up when the come back to buy property in sin again.... The reasons CCR prices never go up is as much due to The cheap pound, London property... And other cities, so CCR in sin is actually competing with other cities in terms of value instead of comparing against OCR properties...
I totally agree OCR properties have higher appeal with the spanking new malls and extensive MRT lines.... And that will means higher prices...
In summary, CCR is like bottega bags... Do we need one? No.... Is the product worth that much? No..... Are we worst off if we carry a coach? No.... But if we are damn rich and can well afford it will we want a bottega, prob will not mind one.... Yes.....
That isnthe bottom line between CCR and ocr
stalingrad
21-07-11, 17:03
I believe In terms of distance, amenities and convenience, ocr with MRT is getting there... So I am sure the prices will rise if you stay at serangoon or jurong lake district in a few years time.... I think there is only one factor which will make CCR properties still command a big premium... And that is the exclusive factor... When the rich want something they want limited supply, prestige, exclusivity and high sense of satisfaction... All these factors are not impt to us middle income coz we don't have enough money to flaunt it... So we will say we don't need all these... But once you reach that level you will want it...
And since CCR caters not just to Singaporean but the worlds rich, the just based on that alone will drive the prices up when the come back to buy property in sin again.... The reasons CCR prices never go up is as much due to The cheap pound, London property... And other cities, so CCR in sin is actually competing with other cities in terms of value instead of comparing against OCR properties...
I totally agree OCR properties have higher appeal with the spanking new malls and extensive MRT lines.... And that will means higher prices...
In summary, CCR is like bottega bags... Do we need one? No.... Is the product worth that much? No..... Are we worst off if we carry a coach? No.... But if we are damn rich and can well afford it will we want a bottega, prob will not mind one.... Yes.....
That isnthe bottom line between CCR and ocr
good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.
I believe In terms of distance, amenities and convenience, ocr with MRT is getting there... So I am sure the prices will rise if you stay at serangoon or jurong lake district in a few years time.... I think there is only one factor which will make CCR properties still command a big premium... And that is the exclusive factor... When the rich want something they want limited supply, prestige, exclusivity and high sense of satisfaction... All these factors are not impt to us middle income coz we don't have enough money to flaunt it... So we will say we don't need all these... But once you reach that level you will want it...
And since CCR caters not just to Singaporean but the worlds rich, the just based on that alone will drive the prices up when the come back to buy property in sin again.... The reasons CCR prices never go up is as much due to The cheap pound, London property... And other cities, so CCR in sin is actually competing with other cities in terms of value instead of comparing against OCR properties...
I totally agree OCR properties have higher appeal with the spanking new malls and extensive MRT lines.... And that will means higher prices...
In summary, CCR is like bottega bags... Do we need one? No.... Is the product worth that much? No..... Are we worst off if we carry a coach? No.... But if we are damn rich and can well afford it will we want a bottega, prob will not mind one.... Yes.....
That isnthe bottom line between CCR and ocr
Thats not true, there are only several places or projects in CCR area which will appeal to the super rich. Not all properties CCR is good to be Bottega, there are many wannabe in CCR area as well.
You must be joking! You try driving from your Hillview area to Orchard Ion you can reach in 20 mins? How about try that during peak hours?
Look for car park in Orchard? That is why I say walk lah! (choose the right place to live & you can walk, don't have to keep complaining looking for car park.) :doh:
Out of point. This is an MRT discussion - so the discussion is on how much time is saved if one takes public transport closer to the city. If one drives, lagi no difference because in Singapore, it takes ~20 min to drive everywhere - whereby 10 min is spent searching for car park or stuck in CBD traffic lights. if one drives, then the diff between the different "Rs" be it OCR or RCR or CCR becomes even more insignificant. Sometimes, the OCR or RCR is just 500m apart and if one drives like a snail at 60km per hour, the difference in travel time is only 1 min per 1 km. The big difference is when one takes public transport.
Not saying that city center shouldn't deserve a premium. just that the difference in travel time is not great, and a huge premium of >5x is probably not defensible. If OCR is 1kpsf, then CCR unlikely to hit 7k psf like one of the experts have predicted.
good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.
I would find telling people that I don't live in rivergate because I find it pretentious so pretentious and die.
People don't live in it because (1) cannot afford it, or (2) can afford it but don't like it, or (3) Can afford it, like it, but want to live in somewhere nicer
Aiyo, Bottega is good enough meh? I'm looking for quality. The analogy should be: ccr= Hermes bag; rcr= bottega venetta; ocr= coach.
I believe In terms of distance, amenities and convenience, ocr with MRT is getting there... So I am sure the prices will rise if you stay at serangoon or jurong lake district in a few years time.... I think there is only one factor which will make CCR properties still command a big premium... And that is the exclusive factor... When the rich want something they want limited supply, prestige, exclusivity and high sense of satisfaction... All these factors are not impt to us middle income coz we don't have enough money to flaunt it... So we will say we don't need all these... But once you reach that level you will want it...
And since CCR caters not just to Singaporean but the worlds rich, the just based on that alone will drive the prices up when the come back to buy property in sin again.... The reasons CCR prices never go up is as much due to The cheap pound, London property... And other cities, so CCR in sin is actually competing with other cities in terms of value instead of comparing against OCR properties...
I totally agree OCR properties have higher appeal with the spanking new malls and extensive MRT lines.... And that will means higher prices...
In summary, CCR is like bottega bags... Do we need one? No.... Is the product worth that much? No..... Are we worst off if we carry a coach? No.... But if we are damn rich and can well afford it will we want a bottega, prob will not mind one.... Yes.....
That isnthe bottom line between CCR and ocr
Don't sound like sour grape. Can u name a tycoon who lives in OCR in Singapore ?
good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.
blackpepperj
21-07-11, 18:29
Should load up more on CCRs since they are undervalued vis-a-vis OCR prices. Buy more buy more!
Does anyone know what is the percentage split between owner stay and rental properties in OCR and CCR?
I am guessing (just a guess) that a higher percentage of the CCR properties are bought for investment rather than for own stay.
any comments?
Don't sound like sour grape. Can u name a tycoon who lives in OCR in Singapore ?
maybe you could tell us how many tycoons are there in your CCR neighborhood and if all CCR properties are fit for tycoon.
Out of point. This is an MRT discussion - so the discussion is on how much time is saved if one takes public transport closer to the city. If one drives, lagi no difference because in Singapore, it takes ~20 min to drive everywhere - whereby 10 min is spent searching for car park or stuck in CBD traffic lights. if one drives, then the diff between the different "Rs" be it OCR or RCR or CCR becomes even more insignificant. Sometimes, the OCR or RCR is just 500m apart and if one drives like a snail at 60km per hour, the difference in travel time is only 1 min per 1 km. The big difference is when one takes public transport.
Not saying that city center shouldn't deserve a premium. just that the difference in travel time is not great, and a huge premium of >5x is probably not defensible. If OCR is 1kpsf, then CCR unlikely to hit 7k psf like one of the experts have predicted.
yup. Actually I think it is more impt to see how close you are to the expressway. If you have to pass by 3-4 traffic lights to hit the expressway, that is easily 5 minutes minimum. 5 minutes at 80km/hr is 7km.
Look at 7km on google map, you will be surprised how long it is.
Given a choice if I am driving, I would rather buy a property that has easy access to the expressway and a bit further away.
All that assuming the traffic is smooth on the expressway.
yup. Actually I think it is more impt to see how close you are to the expressway. If you have to pass by 3-4 traffic lights to hit the expressway, that is easily 5 minutes minimum. 5 minutes at 80km/hr is 7km.
Look at 7km on google map, you will be surprised how long it is.
Given a choice if I am driving, I would rather buy a property that has easy access to the expressway and a bit further away.
All that assuming the traffic is smooth on the expressway.
Sometimes it's not the time that it takes that makes a difference.
Even tried driving down CTE during peak hours? Makes my blood boil....:simmering:
Cannot imagine myself driving to work every morning and back home thru CTE everyday. Think twice about staying in Yishun no matter how cheap it is....:tongue3:
Didn't I say that there are many "fake" CCR areas that are not even worth the price or fit for many of us, let alone tycoons? :p
maybe you could tell us how many tycoons are there in your CCR neighborhood and if all CCR properties are fit for tycoon.
Wah, in your eyes, anybody driving Mercedes or living in CCR must be so pretentious and a snob! :doh:
This reminds me about the story about that fox which was unable to reach the grapes at the top of the vine to eat was very happy to psycho itself that the grapes must have been very sour! :p
By the way, life is precious. Give me free small-size cars I also don't want, don't know when ping-piang, die die! think somebody should give you free MM car for you to ping-piang! then it will be very peaceful here! :scared-1:
good analysis. CCR is higher because of the snob factor. because I am not a snob, I will shun it for the same reason I shun white merceds. I would find telling people I live in rivergate so pretentious and die. not for me.
Sometimes it's not the time that it takes that makes a difference.
Even tried driving down CTE during peak hours? Makes my blood boil....:simmering:
Cannot imagine myself driving to work every morning and back home thru CTE everyday. Think twice about staying in Yishun no matter how cheap it is....:tongue3:
you don't drive CTE nowadays right?
Actually the CTE is VERY smooth for the past month during morning peak since they widened the braddel and pie flyover.
Hopefully the improvement can last until they open the NS expressway :)
you don't drive CTE nowadays right?
Actually the CTE is VERY smooth for the past month during morning peak since they widened the braddel and pie flyover.
Hopefully the improvement can last until they open the NS expressway :)
Glad to hear that things improved. hope it stays....
Haven't driven there lately during rush hour on weekdays.
On saturday afternoons, traffic is still heavy though...
flagship74
21-07-11, 22:46
Glad to hear that things improved. hope it stays....
Haven't driven there lately during rush hour on weekdays.
On saturday afternoons, traffic is still heavy though...
Not really true. that's depend whether have accident or not:D
Eldenfirefly
22-07-11, 12:14
But seems like a bit play cheat to me... Last time, people only consider district 9,10,11 when they talk about prime residential property. Everything else is non-prime.
Now suddenly, everything inside CCR is considered prime? :eek: And this CCR region is so big it encompasses areas like Bishan when in the past, I doubt if anyone has ever considered Bishan "central".
And even with the expanded border, there are still areas covered by circle line which are outside of CCR, and circle line will make these areas sought after as well.
But seems like a bit play cheat to me... Last time, people only consider district 9,10,11 when they talk about prime residential property. Everything else is non-prime.
Now suddenly, everything inside CCR is considered prime? :eek: And this CCR region is so big it encompasses areas like Bishan when in the past, I doubt if anyone has ever considered Bishan "central".
And even with the expanded border, there are still areas covered by circle line which are outside of CCR, and circle line will make these areas sought after as well.
I think you are little confused by the meaning of CCR, CCR = Core Central Region, which consider of the traditional prime district + marina area + sentosa. Bishan is located in the RCR, not part of CCR.
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