Urban Treasures @ West Region with the Jurong East area development
Urban Treasures along Jalan Eunos in District 14, where buyers and tenants are attracted by the location, including Eunos, Paya Lebar, Kembangan. Urban Treasures in Eunos, in Eunos, people usually look very calm and carefree sitting in crowded cafes, talking or playing chess. Although there are many HDB apartments throughout Singapore, there is still a certain antiquity and charm in the domestic bustle in this area. Originally known as Kampong Eunos or Kampong Melayu, Eunos was founded by Mohammad Eunos Abdullah in the late 1920s. Eunos appealed to the British government asking for a land reserved for the Malays. The exclusivity of this place was removed after independence as part of the policy of multiracial harmony. Eunos was proposed as a site for redevelopment in 1981. Part of the District was acquired to make way for Pan-Island Expressway (PIE).
Urban Treasures Condo - a freehold project is located on the West Region of the map of Singapore, the development is associated with the Jurong East area. With a land area of 25,500ha, the West area is the largest of the 5 areas in Singapore. Jurong East is the regional center of the area, while Jurong West is the most populous town in the area. A large number of Singapore's heavy industry companies are concentrated in the Western Region. These are mainly petrochemical companies, including international players such as BP, ExxonMobil, DuPont, Mitsui Chemicals and Shell. The Western Region is also at the forefront of the government's industrial development efforts. The government plans to develop Jurong Lake District and Jurong Innovation District into the second Central Business District (CBD) area in Singapore. In addition, Tuas Mega Port, upon completion in the 2040s, is predicted to be the world's largest container port with an annual capacity of 65 million TEUs.
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Urban Treasures is suit to buyers with a shorter investment timeframe
Urban Treasures, a freehold condominium on the East side are selling for a higher average price of $2,157 psf in 2021 than the $2,030 psf their counterparts in the west are selling.
The average price for Urban Treasures along Jalan Eunos and Mont Botanik Residence along Jalan Remaja is $1,917 psf and $1,746 psf, respectively. The higher average prices in the east can be attributed to older and more popular neighborhoods such as Paya Lebar, Katong, Marine Parade and the East Coast.
Free-standing apartments in the East seem to be affected by the drop in rent more than apartments in the west. The median price for properties 10 years old and younger in the East was significantly 33.5% lower than new properties in the same area, but the West reported a drop of just 19.4%. Please refer to Table 4 below.
Urban-Treasure: Lease Decay
It seems that the independent condos on the West Side, including A, offer a better value proposition as they are not only cheaper but also counteract the effects of reduced rents.
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