Attendees were keen to find out more about Yishun’s potential and the Symphony Suites project.
PropertyGuru’s Guru Talk knowledge empowerment seminar focused on the investmentpotential of Yishun, one of Singapore’s fastest-growing towns.
By Mindy Chong
A property seminar held on 27 May at the Symphony Suites showflat in Yishun attracted 70 attendees who were keen to learn more about the investment potential of this northern suburb.
Jointly organised by PropertyGuru and EL Development, the Guru Talk seminar featured insights from industry experts Kelvin Fong, Executive Director at PropNex Realty and Desmond Lian, Senior Division Director at ERA Realty Network.
Fong offered his views on why the government tweaked the property cooling measures recently, which included reducing the Seller’s Stamp Duty holding period from four years to three years.
“The supply of private residential units will hit 8,632 in 2019 and 7,833 in 2020. The population, on the other hand, is expected to grow by 62,000 in 2019 and 90,000 in 2020. Hence, demand for homes will increase.
“This will cause a real estate bubble with property prices shooting up, while GDP growth will not be stable. This is the main reason why there is a tweak in the cooling measures, to ensure a slower decline in prices,” said Fong.
Lian, on the other hand, provided an update on the Yishun micro market, as well as a brief overview of its growth potential.
“If you buy a freehold property in town, the rental yield is probably one to two percent. However, properties in Yishun offer steadier rental returns of 2.9 percent to 3.5 percent,” he said.
“The development of a new road – Yishun Avenue 8 – has made the area more accessible and reduced traffic flow. By having facilities such as Northpoint City, Junction Nine and Khoo Teck Puat Hospital, there will be more job creation. There are also facilities such as educational institutions, golf clubs and park connectors.”
He added: “With the development of the North-South Expressway (NSE), which will be ready by 2023, and proximity to the upcoming Woodlands Regional Centre, property prices in Yishun will rise.”
Attendees also got the chance to enjoy a three percent discount off selected units at Symphony Suites, and win a Claude Bernard watch worth more than $700 with their property purchase. Selected participants also stood to win a two-day, one-night stay in the Guesthouse of Swiss Club, Singapore.