ST Property forum: Up-and-coming areas are Jurong, Woodlands and Holland Village

JURONG, Woodlands, Holland Village and Bidadari Estate are among the up-and-coming areas that home owners should keep an eye on, said industry players at the STProperty "Rise Up To The Challenges In The Singapore Property Market" forum on Monday.

Held at The Star Performing Arts Centre, the forum included speakers from SLP International, Fortis Law as well as Propnex giving advice to over 700 participants, while representatives from Dennis Wee Group (DWG), Knight Frank and ERA Realty Network joined the other speakers for a panel discussion.

Mr Nicholas Mak, SLP International's executive director and head of research and consultancy said that with the release of the draft master plan 2013, these four areas are likely to be popular choices for property developments in the near future.

The discussion also covered the impact of the upcoming high-speed rail system connecting Singapore to Kuala Lumpur on property prices.

Mr Mak said: "I think the location [of the rail system] will probably in the west... Properties near the station will benefit, but properties located along the railway, where there are no stations, might see a depreciation due to the noise from the rail system."

Mr Denka Wee, DWG's head of business service, said that more property developers are looking into mixed property developments in recent years.

He said: "Mixed developments are not anything new, but private property developers have been catching up lately. In the past, you see HDB buildings with coffeeshops and convenience stores. Singapore needs convenience, and mixed developments are becoming more popular as a result."

Despite the subdued private property market in the past few months, Mr Eugene Lim, ERA's key executive officer, said that there is still demand for private properties.

Mr Lim said: "60 per cent of transaction volume now belong to the properties that cost from $800,000 to $1.6 million, and 20 per cent of transaction come from properties that cost up to $800,000."

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