COMPARATIVE HOUSE VALUES IN TWO PRIVATE RESIDENTIAL ESTATES

Abstract

Residential lands and houses in Singapore have good capital appreciation prospects. However, different local conditions will give rise to varying rates of value increment in different parts of the island. In this respect, house values in Katong Seaview Palace will be greatly enhanced by the developments on the east coast reclaimed land. Among the three main developments the proposed East Coast Park is the most important as its multitude of recreational facilities create a pleasant living environment for residents in Katong Seaview. The presence of lower income groups housed in the Bedok New Town is unlikely to cause detrimental effects on the estate since it is still some distance away from the latter. Worsening traffic congestion problem is expected to slow down value escalations in Watten estate. Therefore in the next five years, the present value gap between Katong Seaview and Watten is going to narrow down.