Why Is Avenue South Residence A Safe Buy?
Avenue South Residence consists of monumental 56-storey residential twin towers, 5 conservation low rise SIT (Singapore Improvement Trust) residential blocks, and commercial retail units on the ground floor of the low rise blocks. What captured my attention about this development is its strategic location and the transformation taking place in its surroundings.
Transformation of the Central Business District (CBD)
To set the backstage to understand why Avenue South Residence condo is a safe buy, we need to first look at what URA had been planning for it surrounding areas for the last 15 years.
URA has been looking for ways to better utilise real estate within Singapore’s CBD, where most of the buildings idle after 8pm. Starting from Lau Pa Sat food centre, URA has been working with local communities to transform certain streets and open areas within the CBD into dining and recreational spots at night and during the weekends. By injecting vibrancy and life into the CBD, it has began to attract people to live within, and around the fringes.
Another URA redevelopment to note is the one that was announced in the National Day rally this year, where the government unveiled a slew of initiatives to promote and change the use of the lands formerly or currently used by the Tanjong Pager City Terminals, Brani Terminals and the Pasir Panjang Terminals. All the ports facilities will be moved to Tuas to form the Tuas Megaport. The land which the port currently occupies and scheduled for redevelopment for more commercial and residential uses, especially the Tanjong Pager City terminals, is sitting right next to Avenue South Residence.
Therefore being close to these 2 massive URA transformation areas in the East and the South, I foresee the demand for Avenue South Residence condo units will be remain buoyant in the future. Together with its close proximity to the Outram Medical Campus (an expanded Singapore General Hospital) to the North, Avenue South Residence is located within a large professional tenant pool, making it attractive to investors too. The completion of a new bus interchange 5 mins walk away guarantees great connectivity to the city. This is also one of the few condos in Singapore with direct connectivity to a National Park Green Corridor (The rail corridor). So if you should find a need for more greenery and space, take a step beyond the perimeters of the Avenue South Residence site into a publicly maintained garden which one can travel to as far as East Coast Park and Bukit Timah nature reserve.
The upcoming Mass Rapid Transit (MRT) effect
In Singapore, it’s always advisable to buy property close to a MRT station. Historically, residences near to and with quick access to a MRT station are easier to rent and fetch a better price at resale. What if a new MRT station is announced to be built at your door step, will the news help your property increase in value? The Avenue South Residence location has not 1 but 3 new MRT stations scheduled to be completed in the vicinity, creating a large potential upside for this property when the stations are completed.
Priced lower that the other new launches in the area
With a low entry price, and many new government amenities being built within the vicinity, Avenue South Residence is one of my recommended buys for 2019.About the AuthorHsien Loong is a property investor and sits on the board of a number of companies, including property holding companies. He sold his building to Singpost a few years back and is always looking for the next opportunity.Curious About Avenue South Residence? Book An Appointment to see the development for yourself.
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