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Newton’s property circus

(2010-11-24 09:15:54) 下一个
By iProperty.com Singapore – November 23rd, 2010

 
newtoncircus

(Newton Circus Food Court. Photograph: Singapore Tourism Board)

An attractive residential area in close proximity to the centre with good food and schools nearby, it’s little surprise that Newton properties are as in demand as prices are high. Are they worth it and is buying now a good investment opportunity. District 11 specialist, Kevin Tan, of Huttons Asia realtors, offers his expert opinion.

What is the overall property market like for Newton?
Due to both its proximity to the Orchard area and comfortable residential feel, Newton is one of the most sought after districts for potential investors. The general outlook is that prices in this area are set to rise over the next one to two years.

What makes this the district an attractive investment destination?
With real estate it’s all about location, and in Newton’s case its proximity to Orchard Road is the main draw for residents. In the near future, Newton will be an even better connected as it will be served by two MRT lines, the existing North-South line and upcoming Downtown line station due to open in 2015. Newton is also connected to Bukit Timah, but Upper Bukit Timah Road is clogged with traffic during peak hours. The integrated resorts and the financial district in Marina Bay are more easily accessible.

Are there many affordable developments in this district?
Newton does not have any HDB estates, and, although it does have a wide variety of private residential housing, most of it could not be classed as affordable.

What does the future hold for Newton property?
Prices will only move upwards as prices in Newton inch closer to their counterparts in Orchard. In Orchard, most properties average around $3500-$4000 psf and since both Newton and Orchard are within close proximity I think it’s a safe bet to say that’s what Newton prices will attain soon.

Are there any properties that you think are particularly good investments?
Gilstead Two
, expected to be completed in 2015, has a very strategic location. It’s close to good international schools, several shopping malls, and good transport links.

What kind of rental yield and capital appreciation could an investor in Newton expect?
Most of the properties there easily achieve 3-4% rental yield. As for capital appreciation, I believe that if owners keep their properties for the mid to long term, they will see a capital upside.

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