First-time buyers are flocking to Serangoon, a gentrified district near landed estates. Previously a settlement for Tamil Muslim traders, Serangoon has undergone a major transformation in the past decade. It is now a vibrant, cosmopolitan neighbourhood with many amenities and ample space.
Serangoon was once a settlement area where Tamil Muslim traders from India settled during the early nineteenth century. Today, Serangoon is a thriving town with good amenities, fine dining, and a picturesque setting. It is also home to the majority-Indian enclave of Little India.
The settlement of Serangoon began in the early nineteenth century, when Tamil Muslim traders arrived in the island’s north-east. The area is home to the Islamic Religious Council of Singapore, which plays an important role in organizing the Muslim community and Islamic affairs in Singapore. Established under the Administration of Muslim Law Act in 1966, this council comprises members of Muslim societies and is appointed by the President of Singapore. It advises the president on all issues related to Islam and works to standardize the practice of the religion.
Serangoon is a neighbourhood that has experienced rapid gentrification in the past decade. According to Chan, who lives on Serangoon Road, the neighbourhood has experienced a number of changes in recent years. One of the biggest changes was the opening of a public carpark adjacent to the Sri Srinivasa Perumal Temple by the URA, which has eased traffic in the area. In addition to this, the nearby Petain Road was converted to a one-way road.
As gentrification has increased housing prices, it has also displaced low-income residents. However, not all gentrification processes are problematic. In some cases, the original residents are unable to move elsewhere because they have become so attached to the neighborhood. This allows higher-income households to move into vacant properties and new developments.
The properties in Serangoon are spacious and boast breathtaking views of the city. They are also well-located near the city’s amenities and transport. The upcoming Affinity at Serangoon development is expected to be complete by mid-2022. The development’s amenities and transport facilities are endless. Residents can walk to the nearby Woodleigh MRT station and enjoy easy access to the public transportation system.
Affinity at Serangoon: This 99-year leasehold development offers a mix of units. It includes 1012 residential units, 40 strata landed units, and five commercial shops. The units range in size from 474 square feet for a one-bedroom to 2,357 square feet for a five-bedroom strata unit.
Dual-key units are more affordable than single units and are ideal for first-time buyers. However, they have a downside: they take more time to market and source buyers, which is a negative in today’s challenging economic conditions. For these reasons, developers tend to avoid constructing large numbers of dual-key units.
While dual-key units may not appeal to the majority of Singaporeans, they do appeal to first-time buyers and those who want to invest in their second or subsequent property. A major advantage of dual-key units is the fact that they do not incur the Additional Buyer’s Stamp Duty, or ABSD, which is imposed on foreigners and Singapore citizens alike. For these reasons, dual-key units make a lot of sense for first-time homebuyers, as they can save on stamp duty by not buying a separate unit.
While you’ll find that Serangoon property prices are generally higher than those of Hougang, Sengkang and other parts of the island, they still come in at a lower cost than the median price of Singapore homes. In general, though, house rental prices in Serangoon are generally between ten and fifteen percent higher than those of comparable properties in Hougang, Sengkang, and Punggol. This is due to the fact that the supply of rental properties is relatively low compared to the demand.
When choosing a location, consider how close you are to public transport. If you’re an avid nightlife enthusiast, you might want to consider a quieter, more residential neighborhood. On the other hand, if you prefer to spend your days at home, you might want to choose a more central location. This way, you’ll be closer to the city while still being close to nature.