Property huntsman could be in for a big surprise at brand new HDB apartments with panoramic ocean view along our Singapore’s east shoreline.
The authorities are considering moulding an exciting Bayshore region, bringing in approximately 6,000 public housing apartments, an enormous change in this private enclave community.
Ever since the “antique” marine parade dwellings were constructed in the 70s, they are the only public housing along east coast for a few decades. When this Bayshore public housing are put up for grabs, there will certainly be an overwhelming demand for it as it could well be the next million-dollar flat when it is due for resale in the open market down the road. If you think I’m joking, some of the older public housing in that vicinity have already transacted over $900,000 recently. Wow!
The Bayshore region, while partially occupied by a dense forest currently, it is surrounded by upper east coast road, Bayshore road, east coast parkway and Bedok camp spanning across a plum 60 ha of land which is more than half the size of Bidadari new town.
But the actual execution of it won’t be anywhere near, according to a spokesperson from Urban Redevelopment Authority of Singapore. Due to the strategic location it is sitting on, the up and coming Bedok South and Bayshore stations (Thomson-East Coast Line) will be expected to be operationally ready by 2024 first.
However, only a certain part of the area will be affected with the construction and it won’t be a major hindrance to the proposed future development. Public amenities and services such as academic institutions, transport centre, commercial and retail components will be expected.
More details will only be made known to the public at a later stage when the appointed consultancy firm develops the master plan of the whole Bayshore area.
Besides the public housing mentioned above, there will also be another brand new 6,500 private residential properties coming onboard. Therefore, the need to invite the experienced private sector in is to assist on conceiving fresh and sustainable concepts to Bayshore. To be able to integrate both private and public communities that works with car-lite living environment cohesively.
According to some market watchers and analyst, the huge increase of human population on the stretch of east coast could strain its transportation systems and so on. With a total of 12,500 new residence coming onboard in the area, it translates to approximately over 40,000 people progressively. Based on average local household size of 3.4 person from the data. “It could be chaotic and a suicidal decision to bring in so many new inhabitants to the once peaceful atmosphere here. With the increase of new dwellers in the east, it could also present a major challenge to our Changi Hospital’s administration and limited bed availability.”
Metropolitan planning professor Steven Chu embrace and appreciate the new government initiatives, a brand-new town with advance technology will boost the value of private properties in east coast further.
But it could set off another round of “lottery effect” when the authorities are seeking to mitigate it.
To ring a bell, several home owners made a neat profit of almost $500,000 after selling their prized assets (public housing) at cantonment road in recent years.
If you’re planning to purchase a home with your loved ones in this area and are not in a hurry to do so now for whatever reasons, you could be the next “millionaire” in the future.