In real estate, location is everything. But is it worth shelling tens of thousands more for prime location in a highly accessible country like Singapore?
According to the Land Transport Authority Master Plan 2040, 80 per cent of households will be within a 10-minute walk from an MRT station, with 85 per cent of public transport journeys under 20km taking under an hour. Even as the government's measures to curb property speculation and stabilise housing prices are in place, homes in the Core Central Region and Outside Central Region continue to cost more.
The factors that contribute to the higher premiums for homes in the central region include the concentration of high-end private housing and the proximity to anchor commercial and business amenities. Even as Singapore becomes more accessible, prices for property located in the Core Central Region will continue to fetch a higher premium than those located further away because of the esteem associated with owning a property in the prime districts of Singapore.
More concretely, where you live in Singapore actually plays an important role in where your children go to school, thanks to the Ministry of Education's Home-School Distance Category allocation.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »