Changing face of Pasir Ris

PASIR Ris is easily dismissed as a sleepy outpost at the end of the East-West MRT line, but property experts say home hunters could do well to consider the area. 

They say the face of Pasir Ris will change significantly in the years ahead as numerous projects, both private and public, add buzz to the well-established area. 

Buying interest in projects launched so far has already been strong, thanks in part to the affordability factor, the experts say. 

Pasir Ris is a 'value-for-money purchase', especially for those who like the east and being close to amenities.

Homeowners may see longer-term resale potential and rental upside when such decentralisation of office space takes better shape in years to come. 

This, coupled with the plethora of new launches there, could explain why resale activity has been subdued recently. 

Still, prices have held up. For instance, the freehold Ferraria Park sold 13 units at a median price of $940 psf in the first five months of the year. It was completed in 2009. That price is fairly similar to that of new freehold launches. 

Source: The Straits Times – 2 June 2012