A Growing Property Hot Spot For Singapore Property Investors

Online, October 9, 2012 (Newswire.com) - Geylang is a growing property hot spot for Investors looking at Singapore property. Investors are drawn to Geylang based on a few key reasons. Firstly, the residential units at Geylang are smaller in size. This makes them lower in price and thus buyers have lower capital outlay. Secondly, the rental demand for the area is healthy.

Geylang is an interesting area. To most Singaporeans, it is an unappetising image of sleazy budget hotels and street girls. Geylang is an area long associated, and famous for, its red-light district and registered brothels.

Regardless of the image issue, Geylang has seen almost 22 new project launches since 2010. And 18 more projects will be launch in the near future. The 78 unit Casa Aerata at Lorong 28 and the 62 unit Centra Suites at Lorong 25A are among the latest projects to be completed in Geylang. Most units sold are smaller in size.

The buoyant Geylang property market seems to fly in the face of conventional real estate wisdom. Even the resale flat prices are rising to $888 per square foot from $410 per square foot about three years ago. This is despite the fact that Geylang does not have an MRT station, and although its located near the city, the traffic conditions along the main roads are often congested. There are also major iconic malls in the area and at night, the red-light district and street girls fill the smaller roads.

The rental demand for the area remains one of the strongest at about 5 per cent. Most buyers are are aware of the red light district nearby but are not as concerned it is near their properties. The lower absolute purchase price coupled with the stable yet relatively high rental, makes a profitable investment opportunity. There is also an increasing number of expats who chose to stay in Geylang and demand will only get stronger when the Paya Lebar Hub is completed.

Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.