Amidst the lacklustre residential marketplace in Singapore, strong sales in the biggest cities in China has improved the earnings ofContinue reading »
New Jurong Innovation District to improve property demand
Jurong Innovation District resize
“(The) absence of developments to market cooling measures was expected as the government has communicated its concern that premature easing of market cooling measures might cause a market rebound,” said Tay Huey Ying, Head of Research, JLL Singapore.
CBRE Research expects the government to keep on monitoring the residential market.
“(The) new precinct in the northwestern part of the isle embodies the ‘live, work, play, learn and create’ notion.
“The development of the JID will see the currently drowsy Jurong West locale transformed into a thriving hub of action. As the development of the JID takes shape, we can anticipate demand for real estate which range from dwellings, offices, retail, hospitality and industrial to gem residences rise, and along with this, an overall rise in property values in and around the JID,” noted Tay.
Meanwhile, analysts are excited about the future development of the Jurong Innovation District (JID). Phase one is expected to be ready in 2022.
She included: “It would also activate private sector interest in real estate development and investment, and thus, we can expect to see a heightened degree of activity in this locality in time to come. Possibly, the Government Land Sales (GLS) programme might soon start to include land tracts in and around the JID to kick-start the transformation.”Continue reading »