Hi Mark,
I have clients we bought geylang and some of them full cash.
The reason why they opt for geylang would be due to its high rental yield. When you buy properties for investment, you are looking at potential/cash flow risk. Geylang being low quantum means lower risk and the cash flow is being covered by its high rental yield. Potential as Zhiwei has mentioned would be from the Paya Lebar district (commercial development) as well as vicinity to Kallang (designated waterfront growth area - refer URA).
Of course, if you are able to withstand higher risk (i am refering to higher initial downpayment), I would still advise alternative locations. If not, Geylang is still very attractive as an investment.
Actually, I would suggest a property at Paya Lebar vicinity for sale. Yet to TOP but soon.. in a few months and there are still left over units from developer and its walking distance from MRT. Most importantly.. its CHEAP!
Cheers.
Ken Tan
Huttons Asia Ltd
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