Geylang Re-zoning : Collaborating Raising Condo Value
What about re-zoning of Geylang? Fine, you are right. By the way, the fact that Geylang is strategically located is in no doubt. The transport links to new launch condo and its surroundings is superb.
There is an influx of people into the area for residential purposes. The government’s plan to re-zone some residential parts for commercial use has upset the setting in Geylang.
There are now few residential zones, and with the existing strong demand for residential requests, demand has risen above supply according to the words of the economist and hence, price is expected to go up in this Singapore property.
Owners of existing residential property and new condo launch will stand to benefit from the present state of events. One, the returns on rented apartment is bound to rise. In the same vain; the value of such properties is bound to take an upward swing.
This change in policy direction by the government is aimed at preventing new residential developments along the beautiful network of roads that links Geylang.
Residents leaving in the areas that shares borders with speedy joints; night clubs as well as eateries have for long been having a long drawn battle over noise pollution that they have been forced to live with over the years in their Tre residences.
They have issues bothering on illegal parking and loitering to live with. They are not sure is the latest move of government which is clearly in favor of the constituency that has been giving them problems will not create more problems rather than solving existing problems.
The proposed re-zoning will result in the emergence of more offices as well as shops; restaurants, not forgetting entertainment joints thereby creating many condo for sale. A restriction has been placed on the number of eateries on Geylang road; to address issues bordering on parking concerns. For other commercial operators however, no such limit has been placed on them.
However, new proposals for pubs and karaoke lounges would be granted if it will not disturb the peace and well being of the immediate surroundings.
Noble as this sims urban oasis move of government is in the eyes of those in government, the residents that will bear the full weight of this policy are up in arms against the policy.
One of the residents said the policy will only worsen the situation of things on ground. He is of the opinion that it will only perpetuate the status quo. According to him, it will worsen the situation of things; the vices are sure bond to increase unhindered.
The government has reacted in this direction by increasing the presence of police officers in Geylang by more than 60% when compared to other areas.