For many home buyers, District 14 is definitely one of the most popular choices they have in mind. People may never know that District 14 is in the Central Region and we always consider it as city fringe region.
Along the East-West MRT Line, Aljunied & Paya Lebar and Eunos are the three stations located within the district. It is a district of mixture of commercial, institution and residential.
Hey, District 14 is one of the 10 districts with the highest capital appreciations in the past 10 years (Read Asiaone's article here).
Concerns over District 14
If you travel around District 14, you will find most of the land are occupied by low rise development and many shops along the Gelyang Road, Guillemard Road and Sims Avenue. Many small residential and commercial buildings are sandwiched these three main roads.
Some people will have the perceptions that this area is very messy with many gangster activities or gang fights happened in the past. Many people would shun away from District 14 (also known as Geylang) due to its infamous history for its Red Light District as well. We seldom hear of such news in recent years.
There is a myth about purchasers cannot get 75% bank loan when purchasing new condominium in Geylang. I beg your pardon. You still can get 75% loan from some banks.
Land cost in District 14
Land costs for the residential sites are considered as low if compared to other districts.
We know that the land cost will affect the entry & selling prices of the development. Geylang area is relatively low compared to the other districts. For example, the Noma ($700psf ppr), Penrose ($732psf ppr). These developments are the lowest in the city fringe area.
Does anyone know where Canberra Drive is? Go google it. The two parcels of land attracted more than 4 & 5 bidders and sold at $650 & $644psf ppr respectively. Paris Ris central land cost is at $648psf ppr.
Then, you wonder $700psf ppr in the city fringe versus $648psf ppr in the northern region, freehold sites (some in District 14) versus GLS 99-year leasehold in the northern region. No brainer right?
Government has put in much effort to transform this district. For example, the plans to re-zone the commercial area from Lorong 4 to Lorong 22, Paya Lebar Sub-regional Hub etc.
Just across the Paya Lebar Expressway, transformation plans are also being planned in Kallang Basin, Kampong Bugis as well as many sites at Kallang Airport Way. At the same time, many commercial and hotel sides car-lite waterfront residential precinct have been identified. In facts, infrastructure works has been started in Kampong Bugis site. This will have spread over effects to District 14. Once completed in the next decade, District 14 will be surrounded by more vibrant commercial, waterfront lifestyle and recreation activities other than the current Singapore Sports Hub and Paya Lebar Commercial Hub.
Amenity & Connectivity in District 14
Sims Vista Market and Food Centre is walking distance from the Aljunied MRT station. James Cook University, Nexus International School, Geylang Methodist Primary & Secondary Schools and Geylang East Public Library are also located nearby.
Paya Lebar Commercial Hub (at Paya Lebar MRT) is the central of District 14 where you can find almost everything. Shopping malls like Paya Lebar Square, Singapore Post Centre and PLQ Mall, Kinex, Haig Food Court and Market are within walking distance from Paya Lebar MRT Interchange. Further down are Geylang Serai Market & Food Centre.
One MRT stop away from Paya Lebar MRT is the Dakota MRT, where the famous Old Airport Road Market and Food Centre are located. Broadwick Secondary School and Kong Hwa Schools are also located nearby.
Next to Eunos MRT is Eunos Crescent Market and Food Centre and bus interchange.
District is also well-connected to PIE, ECP, KPE as well as some major road like Nicoll Highway to downtown or the CBD.
New condominium projects in District 14
Over the past weekend, many prospective homebuyers have registered their interests and visited the Penrose showflat. As mentioned, the price will be very competitive as the developer has announced that the price will be from $1417psf. To be honest, it is a steal in current market in Singapore.
Parc Esta on the other hand, is almost fully sold as of today.
Other freehold condominium developments like Rezi 24 and NoMa are equally popular which are 75% & 84% sold respectively. Arena Residences was 100% sold out just last week.
You can visit the website to find out more: