As a property agent, one of the most frequent questions I encounter is: “Are you sure this is the correct location to buy?” It’s a crucial inquiry that hinges on numerous factors—from current market conditions to future growth potential. Thankfully, in Singapore we have a powerful tool: the Urban Redevelopment Authority (URA) Masterplan, to help with this ‘crystal ball reading’.
For those unfamiliar, the URA Master Plan is a long-term blueprint developed by the Urban Redevelopment Authority (URA) that outlines Singapore’s development plans for the next 10 to 15 years. Think of it as a peek into the future, revealing how different areas will be transformed.
I’ll first touch on the transformation in the Eastern side of Singapore in the first of this URA Masterplan blogpost series.
The East of Singapore is undergoing significant transformation which outlines comprehensive strategies for sustainable growth and enhancement of the region.
1. Changi Airport T5 and New Changi East Urban District
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T5 – National Icon, expected to serve about 50 million passengers a year (more than T1 and T3 put together) upon completion by mid-2030s.
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Workforce in the East is expected in increase significantly, justifying the need for the New Changi East Urban District next to T5, which is envisaged to be a business and lifestyle destination.
2. Revitalization of Paya Lebar
- Relocation of Paya Lebar air-base (size – 5 times of Toa Payoh) will make space for more than 150,000 new homes, and will potentially make it possible to lift the height restrictions of some buildings around it, such as those in Marine Parade.
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The redevelopment of the area in the Paya Lebar vicinity will transform it into a vibrant commercial hub with mixed-use developments, integrating offices, retail spaces, and residential units, enhancing its appeal as a business and lifestyle destination.
3. Bayshore Plan
- Land at ‘Long Island’ (the future reclaimed island from Marina East to Changi) will be reclaimed to a higher level so as to form a continuous line of defence along the coast for protection against rising sea levels.
- 31ha of land at Bayshore area will be cleared for 10,000 homes by 2029
4. Extending the Rail network
New rail lines will enhance connectivity for residents. 5 new MRT stations on the Cross Island Line (CRL) will be built in the East by 2029, including an interchange with the East-West Line at Pasir Ris. The Thomson-East Coast Line (TEL) had also been completed recently.
With ongoing development, the East is poised for growth, offering a perfect blend of urban convenience and coastal charm. This makes it an attractive option for property buyers looking for a sound investment.
If you would like to understand if the property you are looking at in the East is a value-for-money buy, or just need more information with regards to the property trends in the East, feel free to contact me for a non-obligatory chat. Always happy to connect.