Sunday, February 3, 2013

S'pore's estates to become denser by 2030


Propertygury.com
01 February 2013

The future success of the government’s land use plans will depend on market timing and clarity on the details of development, said Alice Tan, Senior Manager for Research at Knight Frank Singapore.

“To fulfil the optimisation of land use in the medium to long term, we expect the planners to be reviewing land usage in a comprehensive approach, from existing low intensity to higher intensity land use.”

Around 13,000ha, or 17 percent of the 76,600ha land supply announced by the Ministry of National Development (MND) will be set aside for housing.

Jones Lang LaSalle (JLL) noted that with the growing population expected to hit 6.9 million by 2030, the density per unit area for different land use groups will naturally increase. For housing, density will climb from 508 to 531 persons per ha.

But the new areas identified under the plan – Bidadari, Tampines North, and Tengah – will help support the overall population growth.

Dr. Chua Yang Liang, Head of Research South East Asia and Singapore at JLL, said: “While these indicators suggest a higher density of person per unit area, there will be an opportunity for the real estate industry to innovate and create more conducive urban environment through clever urban designs and integration of complementing land uses such as the injection of greater green and public spaces into the urban fabric to mitigate this density.”

Meanwhile, with the Southern Waterfront City mentioned as an upcoming growth area, there will be opportunities for home buyers to “own premium water-facing homes near to the city,” said Knight Frank’s Tan.



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