How can URA's Master Plan help me in purchasing my new home?
Updated: Dec 17, 2020
I wonder how many of people will look at the URA (Urban Redevelopment Authority of Singapore) Master Plan before purchasing their new homes. One day if you wonder what building will be built on the plot of land right in front of you house, one thing you can do is to check the URA’s Master Plan.
First of all, the URA Master Plan is the official announcement to the public on the use of statutory land over the next 10 to 15 years. Knowing ahead which neighourhoods will be undergoing revamps or upgrading of public transportation is an advantage if you are looking for property that will appreciate in the future.
Latest URA's Master Plan 2019 was published on 27th March 2019 as drafted. It can be view on URA’s website. It is easy to navigate through the website. You can refer to the previous Master Plan 2014 to know if there is change on a particular plot of land.
Once you land on the website, you will find that the map of Singapore is full of colours. Yes, different colour represents different use of land. For example, the orange tells you that the land will be used for pure residential (HDB or private); Red with a letter “W” tells you that land will be used as places of worship and so on.
Besides the land use, the Master Plan will also tell you the plot ratio of the land, i.e. how tall the building will be built on this plot of land. Now the highest plot ratio is 20 which is located in the Marina Bay precinct. However, we do not know if it will be pure commercial, pure residential or mixed-use development at this moment as it is a white site.
Beside the building, you also can check some infrastructures like expressway, i.e. North-south Expressway which is under construction now. Through the Master Plan, you can see clearly the whole route of North-South Expressway.
When you compare Master Plan 2014 and drafted Master Plan 2019, you will find some differences. It means they the Master Plan can be changed, but minor changes.
Let’s us have a case study. Below is a map of District 28 (Image source: URA's website).
Now you see a very big plot of land in yellow. What is that? It is the reserved site. The government announced the Seletar Regional Hub & North Coast Innovation Corridor a few years back. Our government know what they want to achieve, at this moment they haven’t come out with the detailed plan of the whole concept. I am sure something big will be announced in the future.
I know there will be a new mixed development (commercial on the 1st floor with residential on top) in the future just off Jalan Kayu with plot ratio of 2.1. It will be good news to people who buy the BTO flats in that area. Seletar Mall is also located nearby.
On the left is dark purple Business 2 zone (refer to Zone Interpretation). Houses nearby potentially may fetch high rental yield due to the demands from the workforce nearby.
A simple guide for you when you are looking at buying new home in near future.