Pasir Ris, a town close to nature and the sea
By Ruth Loh Xiu
/ EdgeProp Singapore |
Pasir Ris sits on the eastern part of Singapore, at one end of the East-West MRT Line. It looks far removed from the madding town crowd. In fact, it is sought after by many for its multiple gems.
Pasir Ris was one of nine neighbourhoods handpicked for HDB’s Remaking OurHeartland initiative. A key focus is to develop and enhance the offerings from nature this township is already known for, with plans to include more nature trails and cycling paths.Many Pasir Ris residents walk, cycle, and take public transport when they are out and about—Pasir Ris was one of Singapore’s first towns to have an intra-town cycling path network. It isn’t surprising that the neighbourhood gravitates towards all things nature; the sea is nearby and the name Pasir Ris (Malay for “White Sand”) came about because of its natural white beach snaking along the coast.
Pasir Ris is shaped like a horse saddle, which is poetic, given there are pony rides at Pasir Ris Park. Source: www.ura.gov.sg
Pasir Ris has eight sub-zones in its planning area. They are: Flora Drive, Loyang East, Loyang West, Pasir Ris Central, Pasir Ris Drive, Pasir Ris Park, Pasir Ris Wafer Fab Park, and Pasir Ris West.
White Sands has been the area’s main mall since 1997 and is located right next to Pasir Ris MRT Station. Photo credit: Selwin Wu
More than 100,000 HDB residents live in most of these Pasir Ris sub-zones (Pasir Ris Water Fab Park is an industrial area) across nearly 30,000 homes. According to the HDB website, Pasir Ris “exudes a lively seaside ambience”.
Darren Teo, head of research at Edmund Tie & Co (ET&Co), says Pasir Ris is one of “Singapore’s coastal park areas, offering easy access to park, beaches, and resort facilities”. It was, Teo notes, “identified for the HDB Remaking Our Heartland 3 programme in 2015, with renewal plans finalised in 2017”. These plans will be implemented over 10 years.
In the bloom of verdant health, the Pasir Ris nature scape will continue to appeal to residents and non-residents alike. Photo credit: Selwin Wu
As a mature estate in Singapore, Pasir Ris is home to the larger HDB apartments -- the executive apartments (up to almost 2,000 sq ft) and executive maisonettes (more than 2,000 sq ft). HDB stopped building maisonettes in 1995 when it began launching executive condominiums (ECs). In 2012, then-Minister for National Development Khaw Boon Wan confirmed HDB had no plans to build more executive maisonettes.
In 2005, a mid-floor executive maisonette at 466 Pasir Ris St 41 changed hands for $360,000 (about $225 psf); by 2017, a mid-floor executive maisonette at the same block had transacted for $690,000 (about $410 psf).
For executive apartments, a mid-to-high-floor executive unit at 502 Pasir Ris St 52 transacted at $405,000 ($260 psf) in 2005. In 2019, a similar mid-to-high-floor apartment unit was sold at $710,000 (about $450 psf).
As for the smaller HDB flats, prices have gone up over the years as well. A 4A HDB flat at 483 Pasir Ris Drive 4 was sold for $220,000 (almost $200 psf) in 2005, while a similar 4A model at the same block was sold for $435,000 (about $392 psf) in 2019.
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Beautiful sunsets and berried skies are a treat for some, but a typical evensong for Pasir Ris residents. Photo credit: Selwin Wu
Teo says the price growth for private non-landed properties in Pasir Ris—on a compounded annual growth rate (CAGR) basis—also “appears to be generally in line” with the wider islandwide price index, and since 2014, the median price for new leasehold sales units in Pasir Ris has fallen along with unit sizes, contributing to the higher median psf.
Earlier this year, the Chip Eng Seng group launched Parc Komo -- a redevelopment of the former Changi Garden-- near Upper Changi Road North, after a dearth of freehold launches in the past five years. By the close of its launch weekend in May, Parc Komo had sold 70 of its 276 units.
The launch coincided with a significant drop in the number of older freehold units being sold in 1H2019, Teo says.
In terms of rental, Teo continues, the indicative gross rental yield “appears slightly higher than the wider Outside Central Region (OCR) average, but just below the average for the Rest of Central Region (RCR) and the Core Central Region (CCR)”.
Fun in the wild
While some consider Pasir Ris to be inconveniently located, it is also known as a hub for entertainment, with Wild WildWet, Downtown East, and a host of chalets, plus the 70 ha Pasir Ris Park, all within its sphere. The Mangrove Boardwalk and triple-storey birdwatching tower are a haven for bird lovers and ecology enthusiasts, while the Pasir Ris Park playground is known to be one of Singapore’s finest for kids.
Animal lovers will also be excited to know they can go on pony rides at the park, although it’s likely most of the excited riders will be the young ones.
Ponies resting quietly between trots at Pasir Ris Park. Photo credit: Selwin Wu
Gazing into the crystal ball
What might the future hold for Pasir Ris? Teo cites a number of recent changes and upcoming plans that will underpin possible shifts in (private) housing demand in the area, including:
- The new Pasir Ris Central Hawker Centre, which opened early 2018;
- Downtown East’s $200 million upgrade, completed at end-2018;
- Award of a 3.8 ha, centrally located Pasir Ris site to Allgreen Properties in March 2019. The site will be transformed into a new mixed-use development and transport-integrated hub, as part of the Remaking Our Heartland rejuvenation plans for the area; and
- The new Cross Island Line, expected to start enhancing connectivity by 2030.
With so many upcoming changes, Pasir Ris looks set to become an even more beloved heartland haven.
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