One analyst pointed out that, looking further ahead long term, owners of HDB flats owned in the Bidadari area will also want to look into upgrading in the vicinity, a move that will further support Potong Pasir’s private home resale demand in the future. Investors will see that the rent ability level of these homes will be higher than what you would find in areas in the north-east.
It was noted by another consultant that, the government had given an estimate, during this parcel of land’s launch during the 1st half of 2014, of 685 residential units being built on the site. This would have meant that each unit would have an average Gross Floor Area of 809.6 square feet. However, Tampines Junior College 731 units have been created by the developer from the Gross Floor Area allowable, equating to an average square foot Gross Floor Area of 758.7 square feet for each unit.
Tampines Junior College Condo Flora Drive
It was surmised by the consultant that the projects prospects for leasing was a positive one due to the retail amenities near Dunman Secondary School, the new housing estate in Bidadari and Hong Leong Pasir Ris Condo, and the close distance to the Potong Pasir MRT station. However, he pointed out that competition could be seen in the area with 59% of the units being developed being under 90 square metres of area and falling within 300 meters of Potong Pasir’s MRT station at Singapore Expo.
Whilst the orchard malls tended to have specialist stores and more luxury retailers the suburban malls tended to have more stores that sold every day staples instead of the more expensive luxury items. Most of the customers for the suburban malls are people that live within a two or three mile radius of any of the shopping centres and will get the bus to and from the mall to make shopping trips easy to carry out.
Changi Jewel Hong Leong Pasir Ris Condo
Bearing these factors in mind then it is perhaps not surprising that the the rental gap between the suburban malls and the orchard malls has reduced notably over the last few years in Changi Jewel. The economic situation in Singapore has meant that customers have tendered to concentrate on buying the every day basic foods and other essentials as opposed to going to an expensive retailer to buy premium items at Changi Airport for Tampines 1.
Dunman Secondary School Flora Drive Condo
Suburban malls with their limited catchment areas are less likely to be as hard hit in terms of falling income and stores during recessions because they tend to sell less expensive items, which people still need to buy whether there is a recession or a boom ongoing. People with limited budgets are generally going to stick to buying the goods for every day existence as opposed to spending their money on luxury items that they want to have yet do not need.