Surpassing expectations and projections for a bleak property market outlook, Singapore’s rising city fringe developments are posing immense investment potential, supported by the critical need for stable living spaces. Rivière, one of Frasers’ Property developments, is right up this alley for a virtuous cycle of rising property value.
With far-reaching consequences in the economic and social spheres, to say the coronavirus pandemic has changed the world forever is an understatement. Thriving post-pandemic, what does it entail for economic sectors – specifically Singapore’s property market?
Considering stricter border control, safe distancing measures and the ‘circuit breaker’, it would make perfect sense to conclude that the property outlook would demonstrate fluctuations in demand. Contrary to surface assumptions, the inevitable push to spend longer hours at home has compelled numbers that suggest otherwise. Reasons vary from investment opportunities to simply finding a secure, comfortable long-term abode.
Attractively priced projects in the city fringe, otherwise known as the Rest of Central Region (RCR), accounted for nearly 53% of total transactions in the third quarter, signalling market resilience even in turbulent times. Even executive condominiums (ECs) saw a significant increase, up 5.8% from August, in sales. Likewise, private property sales jumped by 74.7% over a month — specifically from April to May — even with the closure and curbing of show flats and in-person property viewing.
Notably so, city fringe developments have increased in worth, for both convenience and value, as part of plans to create high-value clusters where people can comfortably live, work and play. The numbers suggest, to a degree, that buyers are adapting to prevailing circumstances. What could these reasons be?
Consistently heralded as a stable source of passive income, property investment is one area where individuals can expect optimal returns despite a pandemic — given that the circumstances are prime. For culturally and economically rooted reasons, asset ownership has always been viewed as a safe haven in Asian countries. Both tangible and positive in appreciation, private property ownership is a cultural embodiment of security.
Now, more than ever, the concept of a ‘home’ encompasses a range of diverse atmospheres — moving from just a place of rest to also functioning as a gym, office as well as entertainment spot. Given the increased number of hours we spend in our homes post-pandemic, there exists a pressing need to find a secure living option.
A property with impressive value across convenience, lifestyle, location and services provided is one that is worth an investment to buyers. Frasers Property’s residential development Rivière epitomises the peak of city living, evidenced by its proximity to the three quays, business districts and high-end entertainment options in Singapore. Not only does the property accommodate one’s everyday living needs, it also elevates the quality of life.
Despite the pandemic, the outlook for Singapore’s property market remains positive, especially when you consider the growing appeal of city fringe developments. Fraser Property’s Rivière is a unique point of consideration, encompassing both luxury living and investment potential for the future. To speak to one of our consultants, get in touch.