The new masterplan – Singapore’s land use development blueprint for the next 10 to 15 years – focuses more on creating an environment that fosters a healthier and more active lifestyle, supports the Republic’s ageing population and addresses the challenges of climate change, they added.
Ms Christine Sun, chief researcher and strategist at property agency OrangeTee Group, said there is a bigger emphasis on an environment that enhances the quality of life for Singaporeans through the provision of more homes with access to sea, river and park views, as well as more parks and amenities, and the preservation of heritage buildings and cultural sites.
Furthermore, there is a dedicated effort to build new sports facilities closer to residential areas to encourage a healthier lifestyle. This means that Singaporeans will have a more diverse array of housing options to suit their needs, be they near the city centre, schools, parks or waterways.
With each community designed to be better connected with essential amenities, this ensures convenient access to schools, healthcare facilities and recreational areas wherever residents choose to live, added Ms Sun. “All these initiatives will help to create a more balanced, sustainable living experience for all residents, regardless of age and budget.
At least 80,000 public and private homes will be introduced across more than 10 new housing areas in the next 10 to 15 years, with new neighborhoods planned in areas such as Dover, Defu, Newton and Paterson. Integrated community hubs with sports facilities, healthcare and community spaces are also in the works for Sengkang, Woodlands North and Yio Chu Kang.
With more housing estates catching up in terms of amenities and accessibility, housing demand may start to be spread more evenly across Singapore. This could, in turn, lead to more even price growth across different regions.
More land parcels around MRT stations and more business hubs are also being planned outside the Central Business District to bring work closer to homes, spread the load on the transport network and reduce the need to set aside land for roads.
With about 800ha of land to be freed up for the development of residences, offices, factories and recreational areas, this means that building height restrictions imposed for the safe navigation of aircraft in surrounding towns could be lifted.
Although higher plot ratios around PLAB have not been announced in the latest draft masterplan, Mr Tay said it would be reasonable to expect some collective sale opportunities, as older properties that are no longer constrained by low-rise plot ratios could see an increase in land values after 2030.
