Discovering the Hidden Gems: West Coast, the East Coast’s Emerging Competitor
Introduction: West Coast (District 5) – An Untapped Potential
While the East Coast (D15) is often lauded for its seaside lifestyle and proximity to the city center, an emerging rival – the West Coast (D05) – is quietly making its presence known. Comprising Clementi, Dover, Buona Vista, and Pasir Panjang, D05 has many unique features that make it an equally attractive, if not better, option for homebuyers and property investors. In this article, we explore the unparalleled appeal of D05 and discuss how it is set to outshine famous districts like D15 and D19.
A Thriving Educational Hub in the Heart of D05
Top-notch Local and International Schools
The West Coast is renowned for its concentration of esteemed educational institutions. Notable secondary schools such as ACS(I) and Hwa Chong Institution are located here. In contrast, renowned international schools like Tanglin Trust School and Dover International Court School cater to the needs of both local and expat families. In addition, the area’s vibrant academic atmosphere sets it apart from other districts.
World-class Tertiary Education
D05 is also a hotbed for tertiary education, with prestigious institutions such as the National University of Singapore (NUS), Singapore Polytechnic (SP), and Singapore Institute of Technology (SIT) located within its borders. Furthermore, located nearby in D10 (Bukit Timah) are esteemed institutions such as Ngee Ann Polytechnic (NP), the Singapore Institute of Management (SIM), and the Singapore University of Social Sciences (SUSS), all within easy reach for residents in D05.
Professional Advancement Opportunities
The presence of international business schools like INSEAD and ESSEC, coupled with the one-north business park, makes D05 a hub for academia and professional growth. Moreover, with many multinational companies and research institutes, D05 attracts high-income professionals and international students, driving up rental yields and resale prices.
Unrivaled Connectivity and Convenience
Extensive MRT Coverage
D05 is well-served by the Circle Line and East-West Line, offering residents seamless connectivity to the city center and other critical regions in Singapore, such as Serangoon and Paya Lebar. In addition, with two MRT lines crisscrossing the district, residents can easily access various parts of Singapore.
Easy Access to the City
For those who prefer to travel by car or bus, the city is just a 20-minute bus ride away. This convenient access to Orchard Road and other vital locations adds to D05’s appeal.
It is a Perfect Blend of Urban Living and Nature
Diverse Dining and Entertainment Options
The West Coast offers many food and entertainment options, such as the trendy Holland Village and renowned hawker centers like the Ghim Moh Wet Market and Food Court, home to Michelin Bib Gourmand-rated dishes.
An Abundance of Green Spaces
D05’s access to nature is unmatched, with West Coast Park and Labrador Park offering beautiful sea views. The district is also well-connected to significant nature attractions like Bukit Timah Nature Reserve and Southern Ridges through its extensive network of park connectors.
The Future of D05: Greater Southern Waterfront Project
The Greater Southern Waterfront Project, slated for completion within the next 5-10 years, will transform the Pasir Panjang area into a vibrant urban coastal living hub. As part of the project, the Pasir Panjang port will be relocated to Tuas, making way for new residential and commercial developments. This ambitious project will elevate D05’s status, possibly surpassing the East Coast in terms of attractiveness and potential for growth.
Comparing Property Traits: D05 vs. D15
Undervalued Property Prices in D05
Interestingly, properties in D05 are priced lower on a per-square-foot (PSF) basis than their counterparts in D15. This discrepancy begs the question – why do property prices differ between these two districts, given their similarities in location, amenities, and future development potential?
Larger Home Sizes in D05
The lower PSF in D05 can be attributed to the larger sizes of entry-level landed properties, such as inter-terraces and corner terraces in Pasir Panjang. These properties typically range from 1,800 to 2,100 sqft, while similar properties in D15 are smaller, averaging 1,500 to 1,700 sqft.
D05: An Undervalued Investment Opportunity
Since PSF is a more accurate indicator of price comparison, D05 properties can be considered undervalued compared to those in D15. This presents an opportunity for savvy investors and homebuyers to capitalize on the lower PSF and benefit from future developments.
Price Performance: D05 vs. D15 and D19
Comparable PSF Prices with Greater Value
D05’s PSF prices are on par with those in other famous districts like D19 (Serangoon Gardens). However, D19 needs the coastal lifestyle, waterfront views, and proximity to the city center that D05 offers. Regarding value, D05 outshines D19, providing more for the same PSF price.
Potential for Price Appreciation
When comparing D05 to D15, there is a 12% discount on PSF prices. Assuming that D05 eventually mirrors D15 regarding amenities and development potential, this price gap indicates room for significant price appreciation in D05 properties.
Conclusion: West Coast (D05) – A Rising Star
The West Coast (D05) is poised to redefine coastal living in Singapore with its unique blend of educational, professional, lifestyle, and nature offerings. The district’s lower property prices and the anticipated Greater Southern Waterfront Project make it an enticing investment opportunity. As awareness of the West Coast’s potential grows, property values will likely rise, rewarding those who recognize its untapped potential.
If you’re considering purchasing a new lunch condo, consider Terra Hill, a freehold condo located next to Pasir Panjang MRT station on Singapore’s west coast.