New catalysts to boost prices in District 9
A bright spot for property hunters is said to have emerged in Singapore’s highly sought-after prime District 9.
In the River Valley and Robertson Quay precincts, a slew of changes are seen revitalising the area and perking up property prices.
Chief among these developments is the completion of two upcoming MRT stations serving the River Valley precinct for the first time, which will greatly enhance connectivity in the area.
New hotels, retail and F&B offerings in the nearby Robertson Quay are also rejuvenating the lifestyle amenities along the waterfront promenade of the historic Singapore River.
These changes are deemed a shot in the arm for property values in the vicinity, which is already popular for its central location and proximity to Orchard Road, the CBD and lifestyle amenities.
Savills Singapore research head Alan Cheong says: “Increased connectivity and new amenities in the precinct would refresh both price and rents by lifting them to a higher plane.”
Upside seen for property values
But it seems that the potential upside has not been priced into residential properties there yet. Some studies have shown that properties command a premium when a new MRT line is completed.
Properties near MRT stations can be worth at least 10 to 15 percent more than those further away on average, some analysts have observed.
On that note, a new luxury project by GuocoLand to be launched in the second half of this year is worth a look.
Martin Modern, a 450-unit condominium project, is nestled in the posh residential enclave at Robertson Quay, within walking distance to the Great World MRT station along the Thomson-East Coast Line and the Fort Canning MRT along the Downtown Line — both up and running by the time the project is completed around 2021.
Residential supply in this locale is limited. Sitting on a vast 1.6-ha site in Martin Place, it is only the third site in District 9 to be made available in the past 10 years.
A new kind of luxe
“Martin Modern is in the heart of the city but the moment you cross the main gate, past the mystical driveway to the arrival porch, you will be transported into a tranquil and enchanted garden,” says GuocoLand Singapore’s group managing director Cheng Hsing Yao.
At Martin Modern, over 80 per cent of the land area is reserved for a botanic garden with more than 200 plant species and more than 50 species of trees and palms. The vast acreage will feature 15 different spaces including a party lawn, forest trail, rain gardens and a green maze. This garden is spread across three levels, leveraging the site’s 10-metre upward slope from one end to the other.
The enchanting garden epitomises tranquility at Martin Modern, which at the same time finds lifestyle amenities within reach in the nearby Orchard, Robertson Quay and Clarke Quay. Besides its expansive garden concept, Martin Modern will also have bespoke recreational facilities and offer GuocoLand’s concierge services.
The downtown core, Singapore’s business epicentre, is just five minutes’ away by car and less than 10 minutes by train or cycling. River taxi services at the Singapore River offer another unique way of commuting between the precinct and the CBD.
Those looking for a work-out can cycle or jog along the Singapore River promenade, Fort Canning Park and Alexandra Park Connector or go for one of those numerous yoga, pilates and fitness studios that have sprung up in the vicinity.
Families with children can enjoy the project’s proximity to established schools such as River Valley Primary School, School of the Arts and Singapore Management University. Art and cultural connoisseurs are not left out too – the nearby Civic District is home to Singapore’s most historic buildings, museums, concert halls, and art galleries.
Delectable cuisines can be found in restaurants, wine bars, and trendy bistros over at Robertson Quay. This myriad of F&B offerings is further enhanced by the opening of new lifestyle hotels including Warehouse Hotel and M Social and the upcoming “Quayside Project” by RB Capital that will host 100,000 square feet of lifestyle retail.
“For Martin Modern, we studied the neighbourhood, terrain, views and the spirit of the place,” says Mr Cheng. “We also looked at the market and knew it is timely to introduce a more progressive form of luxury.”