These are my thoughts on Arena Residences – A new freehold development located right in the heart of Guillemard Lane. Unlike most projects around here that are typically small and comprise less than 50 units, the land area here is larger than the norm. This allows a decent sized development of over 90 units, with a wider range of facilities.
As a Singaporean, we get to experience rapid changes in our environment. As our country becomes more developed, we get to see these changes happen in front of our very eyes.
We easily forget only 8 years ago (2010), our National stadium looked like this.
Today, The Singapore Sports Hub is a fully integrated sports, entertainment and lifestyle hub in Kallang with 55,000-seat capacity. Built-in 2014 to host sporting and entertainment events, Since opening its doors, the Sports Hub has been a venue for major international, regional and local events. It has played host to the 2015 SEA Games, Singapore National Day Parade, WTA Finals, HSBC Singapore Rugby Sevens, International Champions Cup and concerts from superstars such as Madonna, Coldplay and Jay Chou.
With that in mind, these are the considerations to why I think you should choose Arena Residences.
Location of Arena Residences:
Simply put, you are about 6-8-mins walk to either Mountbatten MRT Station or Aljunied MRT Station. The distance from Arena Residences to Mountbatten MRT Station is 600 metres and it will take you 6 minutes to cover that distance by walking. What I do appreciate about locating closer to Mountbatten MRT Station is that it has less noise pollution as Geylang human traffic picks up from evening to late at night. What many people fail to see is that residents of Geylang are actually quite geographically central and close to CBD yet their average psf for their homes can be as low as $1200-1300psf compared to suburban areas such as Jurong, Tampines, Ang Mo Kio
The Urban Redevelopment Authority proposes to rezone the area bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang, excluding the parcels of land zoned Road, the lots fronting Geylang Road and the sports field bounded by Talma Road and Lorong 12 Geylang, from ‘Residential/Institution’ to a new ‘Commercial/Institution’ zoning.
In Property Development, Roxy-Pacific is an established brand name for small to medium size residential development. Between 2004 and 2017, the Group developed and launched 44 small-to-medium sized developments comprising a total of more than 4,300 residential and commercial units in Singapore Malaysia and Australia. Some notable projects include The Navian, Sunnyvale Residences and Straits Mansions Condominium.
Price and Potential:
At the price point of $1,700-1750psf for 2-bedroom units, it is questionable if Arena Residences is a worthy investment as other nearby projects such as Guillemard Suites, The Octet, Metro loft and Tre Residences are priced significantly lower.
However, there are still many positive signs towards growth such as the good rental opportunities around the area ($4psf). The area for rezoning is coloured in light blue in the following zoning plan and Arena Residences is located right next to the new commercial zone. I predict a surge in demand for residential properties as about 1000 dwellings will be rezoned. Therefore, we can make a good case for meeting this high demand in future if you choose Arena Residences.
Overall, this is a project worth considering if price is lowered. I expect further discounts from the developer in current competitive market conditions in the event there are left over units balance after a period of time.
For now, I would recommend, if your budget permits, 3-Bedroom dual key unit in Arena Residences.
“Why 3-Bedroom? Bigger units are harder to rent out right?”
I absolutely agree, bigger units are harder to rent out. This is why Dual-key is so versatile, a perfect solution for first home buyers, even though the entry price is higher professional couples can live comfortably in the flat and rent the main house or vice versa, the monthly mortgage payment is less a burden and more manageable. Depending on your current situation, you may decide which configuration suits you better
Short supply of 3 bedroom and above apartments in the area
Factors for capital gain:
- The limited supply of bigger apartments will push up prices once rezoning of Geylang is complete.
- Bigger units also cost less psf (from S$1703)
- Property is a long-term investment, buy and wait as Singapore is transformed