Serangoon was once a settlement area for the Tamil Muslim traders in the early 19th century. It has since evolved into a bustling town with many good amenities, food and peaceful scenic that provide the utmost comfort for residential purpose.
Sounds amazing, but is Serangoon the right place for you? Let’s explore some aspects that might provide a general evaluation of the area.
Based on past trends, Serangoon non-landed private properties have demonstrated resilience towards the downturns of the property market for the past 10 years. From the financial crisis in 2007 to the government cooling measures which began in 2010, the price per square feet (psf) of non-landed private property market in Serangoon reflected minor fluctuations. The pricing has been relatively constant despite the strong forces that should have brought it down. In this aspect, Serangoon may be a good property investment choice for investors or residents who are looking for stability and price preservation.
In terms of future growth of property prices in Serangoon, speculators may not see a sharp rise like in the case of Bishan or Jurong East. From the Master Plan, the Serangoon region comprises mainly of residential buildings, there is one notable point that is worth taking into account. An empty plot of land that is planned for commercial development can be found near the intersection between Serangoon Avenue 2 and Upper Serangoon Road with a permissible Gross Plot Ratio of 3.5.
To illustrate this in an easier manner, the plot of the land is able to house a commercial building as big as the NEX Shopping Mall. With such a ratio and zoned as commercial, there are high chances where the site may be used to build an office building or shopping centre. If the latter comes true, property prices in the surrounding may experience price hike since property price is often found positively correlated to the increase in amenities.
Serangoon itself is a self-sufficient town with many amenities that compliment residential use. For the foodies, the Chomp Chomp Food Centre and Serangoon Garden Market & Food Centre is no stranger to them. These two hawker centres have ample food to satisfy one’s craving, with several stalls being featured in blogs frequently. Aside from these renown hawker centres, there are several reputable cafes for the hipsters as well. Wimbly Lu, The Plain Jane and Sun Ray caf√© are just a few of the many.
The largest mall, NEX in the North Eastern region can also be found right next to Serangoon. The mall houses many International brands like Baskin Robbins, G2000, UNIQLO and many more. There is even a 24-hour Fairprice Xtra that could fulfil your daily grocery needs.
Serangoon is largely accessible for both residents and visitors, with Serangoon MRT Station, Lorong Chuan and Bartley MRT to serve the region. Even if you do not reside in anywhere near these MRT stations, there will be bus stops within walking distance and with just a couple of minutes, you would be tapping your card at the nearest MRT station.
Serangoon is an ideal place for families with school-age children, housing some of the more reputable schools in Singapore such as Rosyth School, St. Gabriel Secondary School, Zhonghua Secondary School, Nanyang Junior College and Lyc√©e Fran√ßais. With that many options, there is no reason why Serangoon does not appeal to families. For property investors, this is not entirely irrelevant, prospective clients with children from 6-12 years old may be more willing to pay a premium if the school desired is just around the corner of the rental property.
Serangoon may not see rapid development in the near future like the Jurong district. However, Serangoon remains as one of the safer investment for investors due to its resilience and availability of amenities.
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Contributor: Leow Wei Min