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.
In addition, the Government is studying plans for a new neighbourhood in the town, to be located next to Sungei Loyang on a site that is currently largely vegetated." This is a large area near Elias mall and MRT on the west side of Pasir Ris which will be developed in the coming years.
Looking at recent condo launches in Tampines (same district 18 as Pasir Ris), like 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 am pretty sure, these condos will hit the resale market beyond these prices. My guess is above $2700 psf!
Do you think Pasir Ris 8 is undervalued at the moment?
Source:
https://www.straitstimes.com/singapore/housing/pasir-ris-to-get-more-homes-next-to-mrt-station-potential-new-neighbourhood
Comments
Post a Comment