Tanah Merah is seeing a resurgence in home-buying demand with the launch of mixed-use Sceneca Residence. (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - The Tanah Merah/Bedok area in District 16 is positioned to capitalise on several urban transformation plans in the east of Singapore, from new residential plans in the Bayshore area along the East Coast, to a new residential town replacing Paya Lebar Airbase in the future.
District 16, which encompasses Bedok, parts of Upper East Coast, and the entire neighbourhoods of Eastwood and Kew Drive, is a popular pick for many locals and foreigners. The area features a good mix of landed estates and condos, as well as several mature HDB towns. (Find HDB flats for rent or sale with our Singapore HDB directory)
In addition, several schools are in the vicinity and three MRT lines extend the coverage of public transportation for residents there, says Bernard Tong, CEO of EdgeProp Singapore. He was sharing his thoughts on District 16 and the future housing options there at the EdgeProp Master Plan Masterclass webinar held on April 29.
In terms of MRT connectivity, two existing lines divide the district into two — Downtown Line where Bedok North and Bedok Reservoir stations are located, as well as the East-West Line where Bedok and Tanah Merah stations are. Crucially, Bedok MRT Station is part of the Bedok Integrated Transport Hub, combining Bedok Mall, Bedok Residences and an air-conditioned bus interchange into an integrated development.
Just one station away from Bedok is Tanah Merah, which is seeing its own redevelopment with the construction of the Sceneca mixed-use development by MCC Land. The project comprises the 268-unit Sceneca Residence and the 20,000 sq ft Sceneca Square retail mall. This will finally bring a new shopping mall to the residents around Tanah Merah MRT Station.
Towards the East Coast area, the completion of the Fourth Phase of the Thomson-East Coast Line — from Founders’ Memorial station in the Marina Bay area to Bayshore station off Upper East Coast Road — will extend connectivity to the CBD, Upper Thomson and Woodlands. This stretch of the line is expected to be operational next year, according to LTA.
The development of Bayshore MRT Station fits into the master plan to develop a new residential town in the Bayshore area. URA says this new 60ha precinct will be a mix of private and public housing, a new green corridor and main street, and community amenities.
The areas encompassing Bedok and Tanah Merah are close to Paya Lebar Airbase, which is scheduled to be progressively relocated from the 2030s. This will open an area more than five times that of the Toa Payoh HDB town for future development. Critically, the relocation of the airbase may see the removal of height restrictions in Districts 15 and 16, spurring future redevelopment.
In the Tanah Merah neighbourhood, the development of the Sceneca mixed-use development will likely revitalise the area with new amenities, F&B options and public spaces. Typically, mixed-use and integrated developments are popular new projects that draw in buyers and investors who are keen to enjoy the new amenities and housing options that are located close to an MRT station.
For example, in the Lentor area in District 26, the 605-unit Lentor Modern is the only integrated development in the Lentor Hills estate. The project was 84% sold when it was launched last September. Likewise, Sky Eden @ Bedok, a 158-unit mixed-use development in Bedok Central, sold 75% of its units when it was launched last September. The project is 280m away from Bedok MRT Station.
Sceneca Residence likewise enjoyed strong buying demand when it was launched for sale on Jan 14 — it was the first new launch to kick off in the new year. The project saw 60% of its units sold on its first day, hitting an average price of $2,072 psf at the time.
According to the latest Master Plan, the only new development site in District 16 that is earmarked as mixed-use will be situated above the future Bedok South MRT Station. This station is part of the fifth phase of the Thomson-East Coast Line, due in 2025.
Using EdgeProp’s suite of property analytics tools, EdgeProp’s Tong showed that the price gap between resale properties in District 16 is narrowing, compared to the average price of resale condos for the whole of the Rest of Central Region.
Moreover, around Tanah Merah MRT Station, approximately 90% of all the resale transactions that occurred within 1km of the station between March 2022 and March 2023 were profitable. According to EdgeProp’s Landlens tool, the condo that saw the highest number of profitable transactions was The Glades, a 726-unit development beside Tanah Merah station.
Check out the latest listings near Sceneca Residence, Lentor Modern, The Glades, Sky Eden @ Bedok, Bedok MRT Station, Tanah Merah MRT Station, Bayshore MRT Station