Properties in Geylang Area: Potential?

[en9okyc]

hey guys, between little india and geylang...which one u tink is less desirable for ppty investment

Little India by a mile!!!

[Wild Falcon]

Both got character. I choose Geylang because relatively "undervalued". Little India is quite ex wor

hey guys, between little india and geylang...which one u tink is less desirable for ppty investment

[Geylang OKT]

I would choose definitely Geylang over little india. Little India is a big no no. Especially City Square Residences. Way overpriced. Afterall, it is similar to Geylang in nature, with sleazy massage parlours just right in front of the project. Worst... very dark there.

So why pay more when you can get it cheaper elsewhere? All things being equal, would you choose a blow job for $80 or would you choose the mei mei ang mor bj price of $400?

[devilplate]

but now mini/mickey mouse projects in geylang also 8xx to 1xxxpsf...

[Geylang OKT]

but now mini/mickey mouse projects in geylang also 8xx to 1xxxpsf...

Throw in a mei mei lounging in the balcony later become $2000psf

[Geylang OKT]

I love Geylang!

[Regulators]

do you live or just work in geylang or both?

I love Geylang!

[Geylang OKT]

I have been studying the potential of Geylang area and am convinced of its potential that I have purchased a condo unit (Atrium Residences) there slated for completion in 2009. My friends probably laughed at (behind my back) wondering why I made such a decision near the Red-Light District.

So here I am sharing my thoughts with all of you wondering if I am being ahead of the herd or just being an absolute idiot.

Here are my reasons: (and I am hoping someone can agree or disagree)
* Geylang is near the upcoming Sports Hub and the Marina Bay IR (via Nicoll Highway). The MRTs stations of the inner circle lines (Dakota, Mountbatten) are near by. The inter-connected expressway at Sims Ave also provide clues)
* Rents are and will be even more attractive because of its proximity to town/IR/New Downtown (typical rents have now climbed to about 2500-3000 for a 3 rm apartment)
* The Red Light District is rumoured to be moving out to North (While I heard from another agent that its moving to Kranji). Wherever it is going, I am guessing that the govt will not allow the IR/Singapore's image to be spoilt, given that they put in so much effort in the messaging.
* You can see clues of constructions in Geylang. Developers seem to be buying up old buildings. New condos like Waterina have sprouted out
* Further development at the Paya Sub-regional center is expected. The govt had announced plans in 1991 but nothing significant really happened. Guess what? The Master Plan for 2003 ends this year and next year, I am guessing that full details will be out in the Master Plan for 2008- and the real potential of Paya Lebar and Geylang will only then be known

http://lushhome.wordpress.com/2007/0...nned-says-mah/

Assuming if I am right, then it might be too late to hop in by then. The properties in Geylang/Paya Lebar have been slow to pick up. That's why I did what I did . Would be happy to hear anyone's comments.

I wonder what happened to this Daredevil friend of mine

[Geylang OKT]

Don't rush to buy geylang properties just yet..

The govt is serious but only for this month ...
They just want to confine the activities to the inhouse fish-tanks... 'coz it's Asian Youth Olympics..

so after the AYO is over... the chickens will come out and play..

As it turned out... prediction was totally way off. No more streetwalkers (except for the occasional spring chicken) for the past year. Coffee shops catering to the chickens have also closed down

You would be surprised than even Wing Fong Mansions and Wing Fong Court (former super red light in Lor 14) are now asking between $740k to $800k for a 3 bedder!

Those in Atrium are asking about $860k to $900k!

[mcmlxxvi]

Both got character. I choose Geylang because relatively "undervalued". Little India is quite ex wor

Both areas you see expats ... they like the 'color' and 'culture' there...

[Wild Falcon]

Yup. Geylang is probably one of the top performer last year

As it turned out... prediction was totally way off. No more streetwalkers (except for the occasional spring chicken) for the past year. Coffee shops catering to the chickens have also closed down

You would be surprised than even Wing Fong Mansions and Wing Fong Court (former super red light in Lor 14) are now asking between $740k to $800k for a 3 bedder!

Those in Atrium are asking about $860k to $900k!

[Geylang OKT]

Yup. Geylang is probably one of the top performer last year

Geylang owners and chickens Huat Ahhhh!

[wenqing]

Geylang owners and chickens Huat Ahhhh!

But Singapore Underworld still owns Geylang.

Talk on the streets is after 12, Singapore police dare not patrol Geylang right?

Recent news about fights show gangs are spreading to Pasir Ris, Pasir Panjang and Ang Mo Kio.

[Daredevil]

I wonder what happened to this Daredevil friend of mine

Hey Bro, I am still around... Been very busy at work flying around. Good to see that the thread I started a few yrs back is still active, thx to folks like you... And the chicken and Mei Mei jokes still lingers on.

I won't say I am 100 percent right investing in Geylang but it is trending the right direction and I expect the new developments nearby to further increase the value of the condos.

I am certainly happy with my Atrium investment. I moved out more than 1 year ago and have rented my unit out for $2900 to a Singaporean youngster who owned a business nearby the coffeeshop. My Maybank bank loan is only $1400, so that's certainly nice return. The 2 yr lease us up in Nov.

Honestly I found it very convenient to commute to my work place in Suntec by bus. Many of those renting are expatriates who work in town so Atrium and other condos nearby should continue to be in demand.

[Daredevil]

As it turned out... prediction was totally way off. No more streetwalkers (except for the occasional spring chicken) for the past year. Coffee shops catering to the chickens have also closed down

You would be surprised than even Wing Fong Mansions and Wing Fong Court (former super red light in Lor 14) are now asking between $740k to $800k for a 3 bedder!

Those in Atrium are asking about $860k to $900k!

My agent has been asking me to sell my Atrium 3 room unit which I bought for $598k. But I refused. Why sell when the rental yield is about 6 percent?

[hyenergix]

Is there any chicken issue for lorong 30 onwards?

[Daredevil]

Since I believe in the potential of Geylang, which is why I started this thread, here's some info I have found
(pls help me enter additional info I may have missed)

Potential En Bloc/Sales

• LOR 6 - 6-unit apartment (360 SQ FT average unit size) - July 2010
• LOR 22 - 6-unit apartment with around 7000 sqft land f
• LOR 31 - People's Mansion - sold for 42.68m (July 2010)
• LOR 35 - 600 SQ FT- plot ratio 2.8
• LOR 8 - 8 stories budget hotel 9,900 sqf- 9m for sale
• LOR 28 - Bungalow - 6 rms - 3,300 sq ft - $3m - en-bloc potential (Mar 2011)

New Condos in Geylang (just completed or coming up)

• LOR 25 - Centra Studios (51 units 8 storeys - TOP Jan 2015) -Pinnacle Realty
• LOR 26 - La Fleur (58 units 8 storeys - TOP Dec 2014) - Teambuild properties
• LOR 26- Evergreen view (26 units - 2010)
• LOR 26 - Casa Aerata (78 units 8 storeys - TOP 2014) - Ecco Realty
• LOR 28 - Atrium Residences (142 units - 2009)
• LOR 28 - Melosa (54 units 8 storeys - TOP Jan 2015)- Ecco Properties
• LOR 28 - La Brisa (84 units 8 storeys - TOP Jan 2015)- Tiarra Realty
• LOR 38 - Wateredge (98 units 8 storeys - TOP Dec 2015) - Pinnacle Development

It looks like Lor 26-28 will have quite a few condos by 2015. When I bought the Atrium Residences in 2007, this place was crowded with prostitutes. Looks like this bet will pay off as the completed freehold condos should help raise prices there. This should transform that area into more residential feel (already when I was staying at the Atrium, the residents were already putting in petitions against the pros). Buying a unit at the Atrium now costs close to 800k (I will have a profit of more than >200k).

Hope this info is helpful to those interested in Geylang.

[devilplate]

we shares similar nick...ops...

y u nvr consider waterina instead of atrium?

[Daredevil]

we shares similar nick...ops...

y u nvr consider waterina instead of atrium?

The answer is simple. Rental yield and returns. At that time, waterina was $150k more for a 3-rm freehold. I'm now happy with my 6 percent yield from atrium.

[devilplate]

The answer is simple. Rental yield and returns. At that time, waterina was $150k more for a 3-rm freehold. I'm now happy with my 6 percent yield from atrium.

tot waterina gain more in term of cap appreciation since 2009 low?

[mcmlxxvi]

Since I believe in the potential of Geylang, which is why I started this thread, here's some info I have found
(pls help me enter additional info I may have missed)

Potential En Bloc/Sales

• LOR 6 - 6-unit apartment (360 SQ FT average unit size) - July 2010
• LOR 22 - 6-unit apartment with around 7000 sqft land f
• LOR 31 - People's Mansion - sold for 42.68m (July 2010)
• LOR 35 - 600 SQ FT- plot ratio 2.8
• LOR 8 - 8 stories budget hotel 9,900 sqf- 9m for sale
• LOR 28 - Bungalow - 6 rms - 3,300 sq ft - $3m - en-bloc potential (Mar 2011)

New Condos in Geylang (just completed or coming up)

• LOR 25 - Centra Studios (51 units 8 storeys - TOP Jan 2015) -Pinnacle Realty
• LOR 26 - La Fleur (58 units 8 storeys - TOP Dec 2014) - Teambuild properties
• LOR 26- Evergreen view (26 units - 2010)
• LOR 26 - Casa Aerata (78 units 8 storeys - TOP 2014) - Ecco Realty
• LOR 28 - Atrium Residences (142 units - 2009)
• LOR 28 - Melosa (54 units 8 storeys - TOP Jan 2015)- Ecco Properties
• LOR 28 - La Brisa (84 units 8 storeys - TOP Jan 2015)- Tiarra Realty
• LOR 38 - Wateredge (98 units 8 storeys - TOP Dec 2015) - Pinnacle Development

It looks like Lor 26-28 will have quite a few condos by 2015. When I bought the Atrium Residences in 2007, this place was crowded with prostitutes. Looks like this bet will pay off as the completed freehold condos should help raise prices there. This should transform that area into more residential feel (already when I was staying at the Atrium, the residents were already putting in petitions against the pros). Buying a unit at the Atrium now costs close to 800k (I will have a profit of more than >200k).

Hope this info is helpful to those interested in Geylang.

Good summary! I dare say... Geylang is the new Telok Kurau! (all LOR style)
... maybe in 5 years time la

[kaizhe]

tot waterina gain more in term of cap appreciation since 2009 low?

Rui En and Pierre Png was filming at waterina before...

[devilplate]

Good summary! I dare say... Geylang is the new Telok Kurau! (all LOR style)
... maybe in 5 years time la

geylang oredi surpassed TK lor....TK MM still at 12xx-13xxpsf....geylang 13xxpsf+++ oredi

[Geylang OKT]

The answer is simple. Rental yield and returns. At that time, waterina was $150k more for a 3-rm freehold. I'm now happy with my 6 percent yield from atrium.

Heartiest congratulations to you Bro Daredevil

[irisng]

Daredevil, I have just bought a Melosa apartment in Lorong 28 at a price of $1,1xx psf (2 bedrooms, 538 sq feet). You really got a good bargain on your atrium residence. How do you choose your property agent as I do not wish to rent out to any of the so called "students". Do you think that I should rent it out or sell it after the TOP as I'm afraid that maintenance fee might be too expensive because of the mechanical carpark.

Some said that in fact Geylang is underpriced as compared to other central regions, most probably because of the red light area. I like the location and I found that it is a shame that because of that "area", it affect the price of the Geylang property.

I brought my daughter to the area to view the location of the apartment. A man passes by and looked at my daughter from head to toe. It was so scary at the way he looked at my daughter, so it would be better if government can move those "pros" to somewhere where there are lesser residential areas so that there won't be so many "cheeky" man around.

[Geylang OKT]

Daredevil, I have just bought a Melosa apartment in Lorong 28 at a price of $1,1xx psf (2 bedrooms, 538 sq feet). You really got a good bargain on your atrium residence. How do you choose your property agent as I do not wish to rent out to any of the so called "students". Do you think that I should rent it out or sell it after the TOP as I'm afraid that maintenance fee might be too expensive because of the mechanical carpark.

Some said that in fact Geylang is underpriced as compared to other central regions, most probably because of the red light area. I like the location and I found that it is a shame that because of that "area", it affect the price of the Geylang property.

I brought my daughter to the area to view the location of the apartment. A man passes by and looked at my daughter from head to toe. It was so scary at the way he looked at my daughter, so it would be better if government can move those "pros" to somewhere where there are lesser residential areas so that there won't be so many "cheeky" man around.

Hahahaha.... this is really hiliarious. You bought Geylang knowing full well that it is red light area.

Now you want to chase us out?

We were here first, and we will outstay you

[Fleur]

Actually, there was a recent news article about geylang becoming very Chinatown-like. Seems that middle level Chinese ft like to stay. And we are talking about the decent ones who hold decent jobs.

[Geylang OKT]

Actually, there was a recent news article about geylang becoming very Chinatown-like. Seems that middle level Chinese ft like to stay. And we are talking about the decent ones who hold decent jobs.

I welcum all to Geylang

[hyenergix]

Daredevil, I have just bought a Melosa apartment in Lorong 28 at a price of $1,1xx psf (2 bedrooms, 538 sq feet). You really got a good bargain on your atrium residence. How do you choose your property agent as I do not wish to rent out to any of the so called "students". Do you think that I should rent it out or sell it after the TOP as I'm afraid that maintenance fee might be too expensive because of the mechanical carpark.

Some said that in fact Geylang is underpriced as compared to other central regions, most probably because of the red light area. I like the location and I found that it is a shame that because of that "area", it affect the price of the Geylang property.

I brought my daughter to the area to view the location of the apartment. A man passes by and looked at my daughter from head to toe. It was so scary at the way he looked at my daughter, so it would be better if government can move those "pros" to somewhere where there are lesser residential areas so that there won't be so many "cheeky" man around.

I went to the Melosa/LaFleur showroom and the vicinity. The red-light district seems to extend until lorong 28. I went to lorong 38 to see the water-edge showroom, things are quite alright there, though a bit stuffy because of the existing condos next to the canal banks.

[devilplate]

I went to the Melosa/LaFleur showroom and the vicinity. The red-light district seems to extend until lorong 28. I went to lorong 38 to see the water-edge showroom, things are quite alright there, though a bit stuffy because of the existing condos next to the canal banks.

freelance r everywhr....spread to odd 30+ lorongs as well