Fundamentals driving property outlook in 2010
Contributed by Mr Chia Boon Kuah, Executive Director and Chief Operating Officer
- Far East Organization

The Singapore property market, in the last 18 months, has been a picture of vitality. Developers sold a total of 23,272 units in this period. Currently, demand remains healthy, genuine and developers are selling at a steady clip. Prices have also held steady.

For many, property remains one of the most attractive investments given the fundamental dynamics underpinning the Singapore economy. GDP growth is anticipated to hit double digits in 2010. More job creation and wage raises are also expected this year. Sentiment is bullish about Singapore’s prospects especially as the nation emerges as one of the top wealth-management centres in the world. It is also the 4th largest currency exchange centre globally.

Low interest rates have made property even more attractive, and the low savings rate means that more channel their investments into the stability of real estate in search of more acceptable yields.

The completion and opening of our two Integrated Resorts also signals Singapore’s transformation as a cosmopolitan, vibrant nation, ready to take its place among the top cities of the world. The influx of sophisticated, cosmopolitan talent from the world has definitively transformed the zeitgeist, adding an exciting spin and buzz to the already multi-cultural and multi-racial tapestry of our population.

Some call it a cultural makeover or even a renaissance, but with one in four residents a non-native, there is irrepressible sense that the mix is adding a new texture, creative energy and throbbing life to our city. The talented and wealthy have been drawn here to a new Singapore, adding to demand for homes.

The security, stability and solid infrastructure criss-crossing the nation - whether from roadways to transportation, to a chain of parks and waterbodies - it all adds to the attraction of Singapore.

Unveiling a new lifestyle hub at Seletar
A vibrant lifestyle destination is taking shape in Seletar. Located at the corner of Yio Chu Kang and Seletar Roads is The Greenwich, an intimate low-rise 319-unit condominium and Greenwich V, a two-storey retail lifestyle concept that exudes a chic and relaxed environment with shaded arcades, alfresco dining and water features. Nestled within the verdant and serene surroundings of the Seletar residential precinct, The Greenwich offers the charm of village living	Image courtesy of Far East Organization
with one-, two- and three-bedroom apartments. The Greenwich is within 1km to Fernvale Primary School and it is near the Seletar Aerospace Park which is poised to be a world-class aviation hub that is expected to generate 10,000 jobs in the area. This luxury condominium enjoys easy access to the Central Expressway and Tampines Expressway.

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