What is Terra Hill?
Terra Hill is a luxurious condominium that has recently been completed in Pasir Panjang, Singapore. The development boasts a wide array of facilities such as a swimming pool, gym, function room, and 24-hour security. Furthermore, it is conveniently located near amenities such as malls, parks, and public transportation. Our goal is to offer an all-encompassing learning journey. Access this carefully chosen external website and discover additional information on the subject. terra hill.
Positive Impact on Property Values
The addition of Terra Hill to the Pasir Panjang property market has had a significant positive impact on property values in the area. According to data from the Urban Redevelopment Authority (URA), the median price per square foot (PSF) of non-landed private residential properties in District 5, which includes Pasir Panjang, has increased by 20.4% over the past five years. In Q1 2016, before Terra Hill was completed, the median PSF was S$1,375. By Q4 2020, after Terra Hill was completed, the median PSF had increased to S$1,655.
Attractive Investment Opportunity
Investing in a property in Pasir Panjang has become an attractive opportunity for investors due to the increasing value of properties in the area. Terra Hill, in particular, offers investors a chance to own a luxurious property that is in demand due to its location and amenities. Furthermore, Terra Hill has a good rental yield, with median monthly rent for a 2-bedroom unit hovering at S$4,200 according to Squarefoot Research.
Ripple Effect on Nearby Properties
The success of Terra Hill has also had a ripple effect on nearby properties. As more affluent individuals move to the area, the demand for property increases, leading to a rise in property values in the immediate vicinity. This is evident in the median PSF of two neighboring districts, District 3 and District 4, which have both seen over 25% increases in median PSF since Q1 2016.
Challenges for Buyers
While the impact of Terra Hill on property values in Pasir Panjang has been positive overall, there are challenges that buyers may face. The increasing property values mean that potential buyers may struggle to afford a property in the area. Furthermore, the limited supply of land in Pasir Panjang means that there are few other opportunities for new developments, which may further drive up the price of properties in the area. Dive deeper into the subject by visiting this external resource we’ve selected for you. terra hill https://www.theterrahill.com.sg, discover additional and valuable information to complement your reading and knowledge of the topic.
In Conclusion
The completion of Terra Hill has had a significant impact on property values in Pasir Panjang, attracting investors and driving up property prices in the area. While this has created challenges for potential buyers, the increasing value of properties in the area suggests that investing in Pasir Panjang may be a worthwhile long-term investment.
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