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Singapore Masterplan 2019 and how it affects Singapore Property Market

Singapore's development for urban future

With the release of 2019 Draft Masterplan, a lot of hypes and commotion has been going on. What is a masterplan: "A master plan is a dynamic long-term planning document that provides a conceptual layout to guide future growth and development", in other words, it is a blueprint map and guidelines for Singapore on how the land and building structure can be used.

Facilities will be relocated to the underground to free up 1,000ha for more houses and recreational facilities.

In order to relight and livening up the CBD off-work hours, the Singapore government has raised the mix of residential and commercial buildings in the Downtown area like Anson Road, Cecil Street, and Tanjong Pagar. All the industrial, commercial and educational structures will also be furnished to fit the businesses in these areas.


NEW HOUSING

More houses will be built in the central business district (CBD) and Marina Bay area to increase the live-in population amongst the office-dominated area, in hope to bring more life and activities to the area after working hours.

Waterfront housing is planned to be developed at the current Keppel Club after the current lease expires in 2021.

New housing will be introduced at Farrer Park, Queensway, and Tanglin Halt to enable more homebuyers to live nearer to the city


MORE GREEN SPACES

Over the next 10 to 15 years, about 1,000ha increase of green space such as nature reserves, parks, and park connectors, will be introduced to the current 7,800ha of such space.

The goal is to have more than 90% of households within walking distance from a park.

Singapore can expect to have about 400km of park connectors over the next 15 years.
Parks will be connected by key recreational corridors such as the Round Island Route, progressively completed by 2035; the Rail Corridor, which will be fully connected by 2021; and the Coast-to-Coast Trail, which will be launched this weekend. 

-IMPROVED CONNECTIVITY AND COMMUNAL SPACES
-Retaining Our Heritage

So how does this affect the property market? 

Often, most tech-savvy buyer will do tons and tons of research before settling down on a location/houses that will satisfy their wants and needs. Looking up at Masterplan is one of the factors which allows them to determine if the advantageous to them. How? By knowing the future land use, land space, development that is around the area, will help to determine how much potential the current property have.


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