Home Sweet Home

The property sector in Singapore has really been booming with sales prices in both private and public housing markets on the upsurge in recent months. Examples of the trend include luxury condominium projects such as Scotts Square and The Orchard Residences selling for record prices of over $4K psf and a few HDB flats in select areas (Tiong Bahru, Bukit Merah, Marine Parade) going for $100K to $200K above valuation. Hardly a week goes by without news of a new condominium launch or an en bloc sale happening somewhere on this small island.

Even the construction industry, which had been badly battered during the 1997 Asian financial crisis, is enjoying a revival, fueled by major projects such as the Marina Bay Financial & Business Centre, integrated resorts, Orchard Road revamp and Downtown MRT Line.

Just a few weeks ago, three flats in my neighbourhood sold for $720K, $606K (both at Kim Tian Rd) and $690K (Jln Membina). Some of the selling points were that the area is just a few minutes drive from the city and units on higher floors enjoy quite an exceptional view. This got me thinking – I never really bothered to venture beyond the 7th storey of my block to see how the view on the upper floors around my neighbourhood is like!

So, without further ado, some boring photos of scenery and amenities around the block plus my utterly unscientific take on how much they are worth.

Distance to Amenities

Great World City: 5-10 minutes by bus
We seldom go here except for the occasional movie and lunch.
$10,000

Henderson Park: 5 minutes on foot
Regardless of how close any park is, I just can’t summon the willpower to exercise.
$20,000

Orchard Road: 10-20 minutes by bus
This is how I go to work every day. Hardly much traffic although tons of traffic lights!
$30,000

Tiong Bahru Plaza and Tiong Bahru MRT: 3-5 minutes on foot
Perfect for midnight shows (GV), groceries (NTUC), books (Popular), food (Kopi Tiam, KFC, HK, McD, Mos, LJS, Bread Talk, Coffee Bean, Thai Express, Sakae Sushi, etc) and many more!
$50,000

Zhang De Primary School: Right below our block!
This is going to be a lifesaver when Ashley starts school.
$70,000

The View

Beautiful sunset
Pity that this one can only be seen from a neighbouring flat.
$5,000

Pleasant greenery
The sea of buildings encroaching on what little forest we have left.
$5,000

Fireworks on National Day
Folks from all floors gathered at this corner on the 30th floor just to enjoy fireworks. Have flats been known to tip over?
$10,000

Seeing the world from atop daddy’s shoulders
PRICELESS!!!

After all that informal valuation, I’m now absolutely certain of this – House Not For Sale!