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New housing in Pasir Ris will drive prices up beyond 2028!

 

Pasir Ris will see population growth with new housing options in the coming years. This augurs well for us who stay here now as new housing and new residents will help drive up our property value! I believe the future land prices will not be cheap.    

The old bus interchange opposite Pasir Ris 8 will be redeveloped into new homes which can "accommodate about 580 to 650 condominium units, with about 18,000 sq m to 23,000 sq m of retail space,” according to URA. I quote the news article below.

"Based on the Urban Redevelopment Authority’s (URA) Draft Master Plan 2025, the homes will be built on a plot about 2.9ha in size – equivalent to the area of four football fields – that has been zoned for housing, with commercial use on the first storey.

This means in the future, Pasir Ris central will see another shopping mall added to the current 2 with a new condo.

In addition, on the Pasir Ris west side, the Government is studying plans for a new neighbourhood, next to Sungei Loyang on a site that is currently largely a forest now. It will be near Elias mall and the cross island line. 

With new developments coming, would home prices rise? Very likely in the years ahead. Looking at recent condo launches in Tampines (in same district 18 as Pasir Ris), Parktown residences and Pinery residences, their average selling prices have hit $2400-2500 psf in 2025 and 2026. Upon their TOP completion in 2028-2029, I believe these Tampines condos will hit the resale market above $2600-2700 psf.

My guess then Pasir Ris 8 should be able to sell at $2400psf or more in 2029-2030. Let’s see if my prediction comes true!


Source: 

https:/a/www.straitstimes.com/singapore/housing/pasir-ris-to-get-more-homes-next-to-mrt-station-potential-new-neighbourhood 

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