Serangoon was once a maturing estate with minimal interest from investors. However, its remarkable evolution into the bustling town packed with amenities and good food has attracted plenty of interest in its properties.
This surge in popularity can be traced back to the completion of Nex, a shopping mall integrated with a train and bus station, back in 2010. With greater accessibility and a dedicated heartland mall to serve residents’ needs, our property agents have seen increased demand for properties in the area. However, is this demand warranted? We certainly believe so. Allow our agents to share why you should consider investing in a property in Serangoon.
A brief history of Serangoon
During the colonial era, Serangoon was a settlement area for the Tamil Muslim traders in Singapore. Brick kiln trade and cattle farming were two of the most common professions found in the district. Subsequently, Serangoon was a mix of rubber plantations, old kampung settlements, and agricultural activities in the mid-1960s. It only began its evolution into the bustling heartland we know today after Singapore gained its independence.
There are two separate accounts of how Serangoon obtained its name, with the two versions differing drastically from each other. The first account attributes the name to the “Ranggon”, which is the Malay name for the bird species commonly found in the area. The Malay term for the number one, “satu”, was abbreviated to “sa”, leading to the name “Saranggon”, which Serangoon was derived from.
The second account suggests the name was derived from the Malay phrase, “di-serang dengan gong”, which means “to surround with gongs”. This is likely a reference to the villagers using gongs to scare away the wild animals from the forested area of Serangoon back in the day.
Why Serangoon properties are good investments
1. Minor fluctuation in property value
Similar to numerous investments, there are peaks and troughs for various housing properties in Singapore. While properties rarely experience a steep drop in value, they are not immune to the impact caused by a turbulent financial market.
However, the private properties found in Serangoon have experienced only minor fluctuations in their value despite the financial crisis in 2007 and the government cooling measures that began in 2010. This trend is unlikely to buckle in the coming years, making the properties in the estate an attractive proposition for those looking for price preservation and stability.
2. Future developments may impact the property value
Property prices often correlate to the number of amenities found in the surrounding areas. This is because Singaporeans place convenience as one of their top priorities when searching for a home. If an estate is packed with amenities or located in a prime area, chances are the property values will be high.
This correlation is also why property agents and investors alike regularly keep themselves abreast of the developments planned by the Urban Redevelopment Authority (URA). Whenever the URA announces its Master Plan for an estate, everyone in our industry pays attention. Now that the agency has announced its plans for Serangoon, we believe the property prices in the surrounding areas will increase.
Let us share what the URA has planned:
- Cross Island Line
Those staying in Serangoon can expect the addition of two new MRT stations, Serangoon North (CR9) and Tavistock (CR10), which will offer greater accessibility to the nearby residents. This Cross Island Line, which is expected to be completed in 2030, will provide residents with a faster commute between the east and west regions of Singapore.
Additionally, it is expected to connect with all of Singapore’s existing radial MRT lines, providing commuters with more travel routes to get to their destinations, which will shorten their journey time significantly.
- A new residential precinct in Lorong Chuan
The URA has announced a new residential precinct in Lorong Chuan to meet the increased demand for properties in Serangoon. With the expected increase in residents, the agency is developing additional linkages to facilitate pedestrian connectivity through this new precinct. Moreover, residents can expect new amenities and parks to serve the wider Lorong Chuan community in the future.
3. Current amenities
Even if we were to exclude the upcoming developments planned by the URA, Serangoon still boasts a variety of amenities. The estate has the largest shopping mall, Nex, in the North East region of Singapore, and it is packed with numerous dining and entertainment options to meet residents’ needs. Moreover, there is a 24-hour Fairprice Xtra to fulfil the community’s daily grocery requirements.
Nex also serves as an integrated transport hub, with a bus interchange and MRT station directly below the mall. A robust transport network is undoubtedly essential to the Serangoon community as the estate is vast, so not all residents are staying close to the shopping centre. In addition to the numerous bus services that operate within the area, residents have a choice of three MRT stations for their daily commute, Bartley (CC12), Serangoon (CC13), and Lorong Chuan (CC14), depending on which train station is the closest to their residence.
As a property investor, it helps to know which educational institutes are located near your property. Houses situated near renowned schools are likely to garner greater demand, with prospective buyers willing to pay a premium to stay close to their desired schools. Even if you are not looking to sell your property, you will likely find plenty of suitors looking to rent the apartment.
Here are some of the notable educational institutes in Serangoon:
- Rosyth School
- Gabriel’s Primary School
- Yang Zheng Primary School
- Serangoon Garden Secondary School
- Gabriel’s Secondary School
- Zhong Hua Secondary School
- Nanyang Junior College
Properties to keep an eye on
If you are on the lookout for some worthy properties to invest in, we believe the following bungalows at Serangoon Garden and Serangoon Garden Way should be on your radar. These properties have an approximate size of 5000 square feet and 4000 square feet, respectively. Interested investors will be looking at an estimated $1180 per square foot for the former property and $1725 per square foot for the latter bungalow.
Both properties are situated near Serangoon North, and they are only mere minutes away from Serangoon Garden Market and Food Centre and Chomp Chomp Food Centre, which are home to various delicious cuisines. They are also only a few minutes bus ride away from the upcoming Serangoon North MRT station (CR9).
Alternatively, if you prefer a house closer to the North-East Line, we will recommend taking a look at these properties in Charlton Lane and Aroozoo Lane. Both real estates are close to Kovan MRT station (NE13). It will only take about an estimated ten minutes walk from these apartments to the train station. The property in Charlton Lane is around 1300 square feet and cost an estimated $1700 per square foot. Meanwhile, the 3-storey detached house located in Aroozoo Lane has an estimated 6662 square feet and commands an approximate price of $1050 per square foot.
With Serangoon evolving into a mixed-use residential area, we expect increased interest in these properties within the coming years. More companies may soon expand their businesses to the estate given the commercial space available at Serangoon Central and Serangoon North. This will lead to more job opportunities, which will, in turn, lead to a greater demand for housing.
There is no denying that the properties in Serangoon are a good investment for many property investors. The abundance of amenities located within the estate and the resilience of its property values, along with the upcoming developments, means you should seriously consider purchasing a property in Serangoon now before prices start soaring.
If your mind is made up, let us assist you in your search. At Selling Singapore, our team is dedicated to meeting our clients’ needs. We understand that every individual has their unique requirements when looking for a property to invest in, so we are happy to listen attentively to your wants to ensure we find the right deal for you.
Additionally, if you are planning on selling your property so you can use the money to finance your new investment in Serangoon, we can assist you in this matter as well. Don’t hesitate to contact us at 8157 4855 for a quick chat so we can better understand your needs.