1 in 3 Singaporeans intend to buy property in mature District 15 (East Coast/Marine Parade) The East Coast is seen as an attractive place to live in because of the upcoming Thomson-East Coast Line (TEL), its proximity to popular amenities like East Coast Park, and its closeness to schools, which is important for families.
‘’Location, location, location,” – we’ve all heard this phrase often enough to know of its importance. And indeed, it is the single most important factor to look at when buying property in Singapore, ahead of pricing and size, according to findings of PropertyGuru’s latest Consumer Sentiment Survey.
Our survey also found that 1 in 3 Singaporeans intend to buy property in mature District 15 (East Coast/Marine Parade).
Below are some reasons behind the area’s stupendous popularity.
1) Connectivity and accessibility
While there’s no MRT station at the moment, residents in the East Coast can look forward to nine MRT stations on the upcoming Thomson-East Coast Line (TEL) which is due to open in stages from 2019 until 2024.
Already, residential projects in the area are observed to be reaping the benefits from these new MRT lines. For instance, new projects that saw the highest sales transaction volumes in district 15 from 1Q2018 and 1Q2019 are all located within walking distance from the nearest MRT station.
They include: Seaside Residences (397m from Siglap MRT), Amber Park (268m from Tanjong Katong MRT), and Amber 45 (509m from Marine Parade MRT).
The trend is also seen in the secondary market. For instance, condo projects that had some of the highest resale transactions within the same time period were: Water Place, Sanctuary Green and Pebble Bay – all of which are located less than 400m from the Tanjong Rhu MRT station along the TEL.
2) Proximity to popular amenities
Due to its proximity to the East Coast Park, areas located within district 15 are packed with opportunities for exciting outdoor activities and water sports.
The East Coast Park is the largest outdoor recreation park in Singapore, with the stretch of coastline offering some of the most sought-after waterfront facing properties on the island.
The district also boasts an abundance of amenities in the area, including malls like 112 Katong Shopping Centre and Parkway Parade. Various eateries and restaurants offering multicultural cuisine can also be found around the East Coast Park.
Aside from being located close to various popular amenities, the area’s proximity to the Central Business District (CBD) and Changi Airport also makes homes near the East Coast Park some of the most coveted on the island.
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3) Availability of various schools in the area
In recent years, homes in the East Coast have gained appeal amongst growing families, largely due to its proximity to landmark parks and green spaces, as well as with a new MRT line planned for the region.
The availability of schools for every stage ranging from preschools to tertiary institutions in the East Coast adds to the area’s popularity. They include primary schools like Ngee Ann Primary School, CHIJ Katong Primary and Tao Nan School.
Meanwhile, secondary schools in the area include Victoria School, St Patrick’s School and CHIJ Katong Convent, among many others.
It goes without saying that parents wanting to enroll their kids in any of these primary or secondary schools will have the benefit of proximity. The distance also cuts down on travel time quite significantly, providing a more pleasant overall living experience for both parents and their kids.
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Fiona Ho, Digital Content Manager at PropertyGuru, wrote this story. To contact her about this or other stories, email email@example.com