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SG District Watch: D7

Property Here - Monday, November 25, 2013

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District 7 is a colourful kaleidoscope of high-rise office buildings, old-world charm and a retail haven that exists in the form of glittery malls and back-alley street stalls.

The district is served by Bugis, Esplanade, Nicoll Highway and Promenade MRT stations and the upcoming Rochor MRT station. 

Speaking to The PropertyGuru, Mohamed Ismail, CEO of PropNex Realty, said that average psf prices for non-landed properties in District 7 fell almost 17 percent from S$1,741 in Q1 2013 to S$1,429 in Q3, “mainly due to the TDSR framework introduced in June this year, which has caused demand to taper especially in the secondary market”.  

However, Ismail pointed to a changing tide and feels optimistic about the prospects for this district in the coming year.