How Is The Draft Master Plan 2019 Affecting Bukit Timah Properties And Its Residents?
How Is the Draft Master Plan 2019 Affecting Bukit Timah Properties And Its Residents?
Singapore will be experiencing a revitalization of its infrastructure and a transformation of its regions into a global economic hub thanks to the Draft Master Plan 2019. This initiative will attempt to provide a brand-new luxury living to residents through the inclusive community, improved accessibility, and heritage rejuvenation.
The Draft Master Plan by Urban Redevelopment Authority (URA) was revealed in early 2019 and continues to be in development before officially being released to begin.
Update as of 27 November 2019: The URA Master Plan 2019 has been formalized and the Bukit Timah Fire Station has been gazetted for conservation.
New forms of transportation will be implemented to connect all regions of Singapore into one global hot spot of economic development. Major gateways will be added in the North, East, and Western regions of Singapore that will connect them to the large commercial center. Many residents of Singapore, especially those residing in Bukit Timah, will be experiencing an exhilarating change to their daily lives.
So how will the Draft Master Plan 2019 affect the properties and residents residing in and near Bukit Timah?
As with all regions of Singapore, the URA plans on breathing new life into the region. To better understand how the Draft Master Plan 2019 will benefit Bukit Timah and its residents, we first must understand what the new plan will be offering.
Singapore’s Draft Master Plan 2019
The Draft Master Plan 2019 is a statutory land use plan by URA for Singapore’s physical development over the next 10 to 15 years. New integrated transportation hubs, sky parks, and green community spaces will be in development that will meet our future needs. New features such as a sky park above the canal will be implemented to allow residents to better connect with and enjoy the nature around them, fostering a new sense of community.
This upcoming transformation is expected to benefit Bukit Timah greatly and strengthen its position in Singapore’s overall economy.
A major focus of the Draft Master Plan is the emphasis on new residential areas. Singapore condos are expected to flourish as the new plan begins to take place. This will be especially true for properties in Bukit Timah as many new condos are set to feature across the region.
The attempt with the new developments is an influence of nature on their constructions and the infusion of gardens within their structures. Many of the new launch condos will heavily feature green spaces for residents to relax in and enjoy – gardens, green walkways, parks, etc. The new condo developments – both leasehold and freehold condo will be the new peak in luxury at an affordable price.
A few of the developing Singapore properties that you should be excited about include Royalgreen, Fourth Avenue Residencies, and Juniper Hill. These three condos will host some of the most modern features available in Singapore real estate and will offer residents access to a whole host of educational institutions, community parks, and MRT stations. The new condos at Bukit Timah will offer residents the best in modern living at an affordable price.
Singapore hopes to become the hub of a global economy and plans to achieve this with networks of major transportation hubs throughout the region. Three major gateways are planned for the North, West, and East in an attempt to bring work closer to home for many Singaporeans. These gateways will act as a connection point between residential zones and commercial areas, so work is easier to get back and forth from.
An influence on the plans for the new condo launches is the community culture that developers are trying to impart on their residents. With additions like green spaces, walkways, parks, etc, Singapore will feel an emphasis on community and family. As such, developers are taking this into account with their developments being centered around the idea of building a community.
Each new housing precinct will come equipped with the newest amenities and community centers to help provide residents opportunities to enjoy their surroundings. New childcare centers, parks, centers for art and entertainment can be expected as Singapore grows and expands with this new plan. Bukit Timah will experience the benefits of this transformation in full force as new developments arise with the heightened sense of community and nature.
Taking A Look At Bukit Timah
So now let’s look at the question of how will this affect the region of Bukit Timah and the residents who live there? Bukit Timah, located in the south center of Singapore, will experience a new breath of life into the community. New residential centers, affordable for the members of the community, will be constructed, new transportation hubs allowing for a broader catalog of job opportunities will arrive, and brand-new landmarks and sky parks.
Integrated Transport Hub
One of the major plans in the Draft Master Plan is the Beauty World’s Integrated Transport Hub. The Integrated Transport Hub is a fully air-conditioned bus interchange that encompasses a seamless connection between the shopping malls and MRT stations. Similar to the Ang Mo Kio interchange, the upcoming Beauty World Integrated Transport Hub will be the connecting point to various parts of our island.
As part of Bukit Timah, the Beauty World Integrated Transport Hub will be bringing numerous benefits to those residing nearby. One of nearest Bukit Timah condo will be the Mayfair Collection, which consists of both Mayfair Gardens and Mayfair Modern will only be 1km apart (walking distance).
Distance between Mayfair Gardens and Beauty World Integrated Transport Hub
With this in mind, the residents of Mayfair Collection will surely get to enjoy a plethora options of travelling routes.
Bukit Timah Railway Station
The iconic Bukit Timah Railway Station has been an iconic Instagram hot spot for many in the recent years. When the announcement of the closure of the renowned railway station was broadcast, Singaporeans (especially Instagram hippies) were devastated.
Hot Instagram Spot at Bukit Timah Railway Station
But what came after the devastating news was something worth celebrating for. Under the Draft Master Plan 2019, the iconic rail corridor of Bukit Timah will experience a revamp and re-purposed as a heritage gallery while retaining its iconic features. This is a wonderful news for both local visitors and tourists as they are able to once again learn more about the history of this amazing heritage location.
We are also sure that more ‘Instagrammable spots’ will be available once the reconstruction is finished!
One thing to be excited about from the Draft Master Plan 2019 is the new Sky Park that will be constructed. As mentioned by the National Development Mininster, Lawrence Wong, a new sky park will be built above the 3.2km Bukit Timah canal. This will be a raised walkway that features extensive greenery and gardens for residents to explore. It will double as a walkway that connects regions of the area together, providing a revamped look to Bukit Timah. This sky park will connect to the Elm Avenue railway corridor and will run throughout various Bukit Timah areas.
The Sky Park that’s set to be built above the 3.2km Bukit Timah Canal
With this ground-breaking development, Bukit Timah residents can get to enjoy an accessible and convenient shortcut while enjoying the scenery, talk about hitting 2 birds with 1 stone!
A plan that was brought together and further shaped into development via the public and National Parks, the Rail Corridor is a formerly a railway line that boast a distance of 24km from north to the south of Singapore. This 24km long Rail Corridor will connect Singaporeans’ favourite custom, the Woodlands Train Checkpoint, all the way to the Tanjong Pagar Railway Station. As mentioned by URA, the Rail Corridor, also widely known as a “green corridor”, will be the catalyst to transform the trail into a community space that can connect 1 million people. The expected completion date of the Rail Corridor is by 2021, which will in turn stimulate the development of Singapore’s land and rejuvenation of older districts (even Orchard Road).
24km long Rail Corridor connecting Woodlands Checkpoint all the way to Tanjong Pagar Railway Station
Noticed how the Rail Corridor involved the areas of Bukit Timah as well? With Bukit Timah being core of Singapore, the government would naturally expend effort to enhance the region. The Rail Corridor which stretches along the Bukit Timah area, is a highly accessible route, anchored between Hillview and King Albert Park MRT Stations. Three themes have been identified in the development of the Central Rail Corridor, namely – Heritage & Culture, Biodiversity & Greenery, and Recreation.
Development of Rail Corridor (Central)
Is The Draft Master Plan Going To Increase Property Prices In/Near Bukit Timah?
The answer you have been waiting for!
In our opinion, YES! We know that the Government is planning something huge that largely involves the Bukit Timah area and these upcoming recreations and developments are going to play a big part in the price increment.
With the upcoming Beauty World’s Integrated Transport Hub, reconstruction of the Bukit Timah Railway Station, and the Rail Corridor, residents in/near Bukit Timah will get to enjoy higher accessibility and convenience, turning Bukit Timah into an even more desirable and highly sought-after location! And if you didn’t know, for condo properties, the location could be the most important factor in a lucrative capital appreciation.
Let’s also have a look at the average psf for properties in District 10 for the past 10 years.
Average PSF & Sales Volume for [District 10 – Non-landed only] in the last 10 years
With an overall increase in the average psf in the last 10 years, there was a recent hike since September 2018. This is highly due to the emergence of the new condo launches in Bukit Timah, as we know that Bukit Timah is a prime location for Singaporeans. With the average psf being increased to $2,500 in the recent year, local and foreign property investors are now flooding in to invest in Bukit Timah properties due to the high potential appreciation rate.
With these many selling points available for Bukit Timah condos, it’s about time you start investing too! If you’re unsure whether your investments are going to be profitable, we wrote a detailed article on this topic before – Will Singapore New Launches Make Money?
We have helped over 300 families to plan their Property Wealth Planning journey in Singapore. If you’re looking to know more and explore more options – we invite you to contact us for a non-obligation discussion.