Tampines holds its own with attractive amenities

Tampines holds its own with attractive amenities

Tampines has stayed on the radar of home buyers despite stiff competition from a bumper supply of launches in other suburban estates.

The area - designated a secondary commercial zone after the central business district - has continued to attract buying interest largely due to its wide array of amenities and easy accessibility.

The presence of international schools such as the United World College of South East Asia and its proximity to the Changi Business Park and Seletar Aerospace Park have also caught the eye of investors looking for healthy rental yields.

Experts say home prices in Tampines have outpaced the national average due to pent-up demand from Housing Board upgraders and the relatively lower supply in the pipeline.

Developments in the area have enjoyed price gains of between 23 per cent and 53 per cent over the past two years.

Tampines rental yields are between 4 per cent and 4.5 per cent, at the higher end of the typical 2 per cent to 4.5 per cent range found across the country.

Analysts noted that Tampines is well-served by three major shopping malls and transport links, including the East-West MRT line and the Downtown line, due to be completed by 2017.

Tampines Finance Park, which houses the backroom functions of some banks and insurance companies, is another economic driver.

About 75 per cent of Tampines residents live in HDB four-room and five-room flats - a potential pool of buyers for new launches.

There have not been many new projects in the area so demand is likely building up.

Source: The Straits Times – 11 August 2012