Investing in property is all about location and Yishun is the hotspot for you as it emerges from being a dozy town to the next green zone.
SPH Content Studio
February 26, 2016
Before putting your money into a prized property, you have to ensure that its location provides quick access to the main business districts such as Marina Bay and Shenton Way, as well as entertainment and leisure hubs like Orchard Road.
Yishun is the perfect area as it is not near overcrowded estates, and with Yishun MRT station on the North-South Line, you can be connected easily to mature neighbourhood hubs like Ang Mo Kio, Bishan and Serangoon.
Yishun residents can simply move around that region for an even greater variety of shopping and food and beverage (F&B) choices.
The most exciting transport feature of Yishun is the reconfigured North-South Expressway, which will now be known as the North-South Corridor.
The expressway is a 21.5km partly-underground road that links towns in the North to the city, and it will have one of its three lanes in each direction reserved for buses. This makes it the first highway in Singapore to be built in this manner.
The highway was originally slated for completion by 2020.
With the North-South Corridor, expatriates used to living in green cities will find Yishun ideal.
A cycling path and a wide pedestrian walkway will be built along the expressway, passing through towns such as Sembawang, Yishun, Ang Mo Kio, Bishan and Toa Payoh.
Yishun is also an environmentally-friendly town, as the lush estate is linked via park connectors that span 15.5 kilometres. This cycling trail connects major transport nodes, neighbourhood centres and parks.
The Land Transport Authority (LTA) added: “There will be dedicated cycling and wide walking paths along the surface corridor, with ample greenery for shade. A cycling trunk route into the city that spans the entire North-South Corridor to the city will be built.”
Not only can residents go car-free as they travel to the city and business districts for work, they also contribute to saving the environment.
The landscape is also dotted with gardens and parks like Yishun Pond, near the Yishun MRT station. The Yishun Pond was revamped in 2011, opening to a site filled with floating wetlands, flower trails and a three-storey lookout tower, and is also home to orange cichlid fish and tortoises.
Residents can also visit Orto, the former Bottle Tree Park, which is as big as seven football fields and features activities like fishing, prawning, paintball and futsal.
Yishun offers residents convenience as it will welcome new F&B and leisure concepts via mixed developments like The Wisteria located at the junction of Yishun Ave 4 and Yishun Ring Road.
The Wisteria has 3 nine-storey towers with 216 residential units. The residences are directly connected to two levels of retail spaces which are at the basement and level one of the development.
At the Wisteria mall, residents can choose from a delectable mix of 33 food and beverage outlets and 72 retail spots, including FairPrice Finest supermarket, which has proven to be one of the most popular neighbourhood grocers. In the mall, the food court which will come under operator Kopitiam, where you get a slice of local life.
The retail outlets at the Wisteria Mall will provide a much needed shopping experience after a long day at work or the weekends.
Besides the mall, an upcoming integrated hub is set to be the largest mall in northern Singapore come 2018. This will have more than 500 shopping and dining establishments, and house a community club. Both will inject vibrancy to Yishun.
The hub will also be the main transport centre, with the mall linked to an air-conditioned bus interchange and Yishun MRT station, so residents will find not only a one-stop shop for their needs, but also a smooth transition to town if they require.
R’ST Research director Ong Kah Seng said: “Many will feel that with Yishun being far flung, condominiums there may experience weak leasing and resale demand but I think it still depends on where buyers are coming from – that is buying for capital appreciation or significant investment returns?”
He said private condominiums in this estate are very suitable for owners who want to live there as it is affordable.
Yishun is also a good investment opportunity because of the upcoming integrated hub and close proximity to several business hubs in the area. The location will benefit from the North Coast Innovation Corridor which includes the Woodlands Regional Centre across the upcoming Seletar Regional Centre, and the revamped Sembawang Shipyard area to the Punggol Creative Cluster.
Yishun is between these two upcoming regional centres in Woodlands and Seletar and will enjoy the spillover effect from the development of these two areas.
Woodlands seems to have become the premier waterfront destination with new business and job opportunities, and the Seletar Regional Centre has been said to have the potential to grow to twice that of Tampines Regional Centre.
Don’t forget the Seletar Aerospace Park, the region’s aviation hub with its wealth of endless opportunities in training, research and development.
There will also be new industrial clusters at Gambas Avenue and Yishun Avenue 6, which will attract professionals working in industrial areas in north of Singapore, who would be possible tenants.
Yishun will also certainly appeal to those who want a locality conducive for their family development including children’s education.
Mr Ong said the longer term prices outlook for private condominiums in Yishun is expected to be positive, especially from 2017. This is because the annual private residential completions will ease, and so units are likely to get warm resale demand.
He said the overall private residential market conditions are expected to improve from 2017.
This is good news for homeowners in Yishun. He adds that if they hold their Yishun condominium units for at least another five years – starting from 2017 – they should be able to expect prices to rise by about 7 percent, as the growth potential of Yishun is great.
If you can hold your unit for more than five years, Mr Ong believes it is likely that you will still experience warm resale demand as Yishun is a conducive locality for both locals and foreigners.
Yishun is close to several industrial estates, which also include those in Ang Mo Kio for instance, making the area a place where jobs can be close to home.
Possible employment opportunities range from engineering to design, as a plethora of firms have called Yishun home over time.
Job seekers will be pleased to know that South-east Asia’s biggest semiconductor assembler STATS ChipPAC is at 5 Yishun Street 23, and 3M, a diversified conglomerate and maker of Post-It notes, is at 1 Yishun Avenue 7.
Over at 2 Yishun Avenue 7 is semiconductor equipment manufacturer ASM Technology Singapore, a unit of the Dutch-owned ASM International. Singapore is the firm’s regional headquarters, where it manages its value chain from product conceptualisation, design to development and prototyping.
Yishun will become a great place to live and work in, as owners looking to buy a new home do not have to travel far to get to their workplace.
It is also suitable for investors, with plenty of opportunities to attract tenants from the nearby business hubs.