fbpx
Skip links

What do the future hold for the property landscape in Singapore?

An interesting article I just read about what youths hope for in the next 50 years and beyond.

URA and National Youth Council had engaged 1200 youths for feedback and ideas on Singapore’s physical environment in the future.

Considering that Singapore has limited land resources, we have to plan ahead on how to make Singapore a better home for the future.

The findings have gathered compromised of mainly 4 key pillars.

Key pillars

  • Inclusive
  • Sustainable
  • Adaptable & Resilient
  • Distinctive & Endearing

Trade-off scenarios

However, when presented with trade-off scenarios, to select one of two options they would like to see in the future, youth’s preferences leaned towards:

  • MRT stations over cycling paths.
  • Climate-ready measures instead of urban farms.
  • Green spaces rather than built heritage.
  • Inclusive neighbourhoods before having offices close to home.
  • Adaptable workplaces as compared to a CBD where they can live-work-play

Most of the aspirations of the youth has been categorised into the 4 key pillars. What I find most interesting is that they are more conscious of the environment and empathetic towards the elderly and the differently-abled.

My guess for the future

My guess for the future is that properties in the Outside Central Region (OCR) will have the most demand compared to the other regions in Singapore. This will be an exciting place to invest or buy your home.

Firstly, people would rather have an office anywhere else than have it in the CBD. Traditionally, offices are located at CBD as that is where businesses are conducted. Given the advances in technology and change in the culture, business meetings do not need to be held in the traditional setting. The past few years have shown that we are adaptable to the new way of work.

As people are keener to have inclusive neighbourhoods, most likely they would want to stay near their parents. The most densely populated area are Bedok, Jurong West, Tampines, Woodlands, and Hougang. These areas, which mostly are located at the OCR, in my opinion, will have high demand in the future.

Lastly, compared to the Core Central Region (CCR) and Rest Central Region (RCR), the Outside Central Region (OCR) has more land to create the aspirations that the youth have drawn out.

Conclusion

What I am amazed by is that the youth today are empathetic towards others and the environment. I believe Singapore will be in good hands and will be able to produce good leaders and people in future. Property price is always tandem with the economic fundamentals. With such youth of today, I daresay that we are moving in the right direction.

 

Source: https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr22-09

 

Andik Imran

Engage a professional Singapore real estate agent

ANDIK IMRAN | BSc Business
CEA Reg No: R061801F

andikimran@realestatedad.sg
9450 8732
PropNex Realty Pte Ltd

PropertyGuru | Instagram | Facebook

Leave a comment

Open chat
Hello! Is it me you're looking for?
Hello, I'm here to empower you to be a better homeowner. Don't hesitate to drop me a message if you need any assistance on your property journey.