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SG S'pore's estates to become denser by 2030

Property Here - Friday, February 01, 2013

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By Romesh Navaratnarajah:

The future success of the government’s land use plans will depend on market timing and clarity on the details of development, said Alice Tan, Senior Manager for Research at Knight Frank Singapore.

“To fulfil the optimisation of land use in the medium to long term, we expect the planners to be reviewing land usage in a comprehensive approach, from existing low intensity to higher intensity land use.”

Around 13,000ha, or 17 percent of the 76,600ha land supply announced by the Ministry of National Development (MND) will be set aside for housing. 

Jones Lang LaSalle (JLL) noted that with the growing population expected to hit 6.9 million by 2030, the density per unit area for different land use groups will naturally increase. For housing, density will climb from 508 to 531 persons per ha. 

But the new areas identified under the plan – Bidadari, Tampines North, and Tengah – will help support the overall population growth.

Dr. Chua Yang Liang, Head of Research South East Asia and Singapore at JLL, said: “While these indicators suggest a higher density of person per unit area, there will be an opportunity for the real estate industry to innovate and create more conducive urban environment through clever urban designs and integration of complementing land uses such as the injection of greater green and public spaces into the urban fabric to mitigate this density.”

Meanwhile, with the Southern Waterfront City mentioned as an upcoming growth area, there will be opportunities for home buyers to “own premium water-facing homes near to the city,” said Knight Frank’s Tan.

 

Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg

SG Govt's land use plan meets housing needs: expert

Property Here - Thursday, January 31, 2013

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By Romesh Navaratnarajah:

To cope with a larger population that could hit 6.9 million by 2030, Singapore will ramp up land supply to 76,600ha, an increase from the current supply of 71,000ha. 

The Land Use Plan released today by the Ministry of National Development (MND) will see 13,000ha or 17 percent of the total land supply allocated for housing. 

Although this is less than the 14,800ha (19 percent) expected to be set aside for the country's defence needs, some property experts are confident that the plan will support the housing requirements of Singapore's growing population. 

Desmond Sim, Associate Director, CBRE Research said: "The Land Use Plan is a logical response to Singapore's population target of 6.9 million. Land allocated for other uses is now aggressively being diverted to housing." 

"New mega towns are being planned, existing towns are being upgraded - these are all established, tried-and-tested ways the government has so far coped with population increases over the years and it is logical for the government to continue with this formula. The concept of de-centralisation has been successful so far and is now firmly established as a major hallmark of land use planning in Singapore." 

While there is no immediate impact on the property market as this is a long-term concept plan, Sim expects land values across Singapore to increase over time. He added that plans to renew older estates such as Yishun and Dawson will ensure that capital values of properties in these older mature estates remain steady.

At the same time, interest in land sales will continue to be healthy. Sim said: "Developers will show keen interest in areas such as Punggol Downtown and other areas identified to be major towns. Developers who have bid for land plots in these areas recently will be confident in pushing out the projects given the level of interest expected from potential buyers. New areas such as Biddadari will also draw a lot of interest given its proximity to town."

 

Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg