May 13, 2018

Your Property Guide in Singapore

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Singapore, although small and land-scarce, is divided into numerous districts. However, District 1 is probably the most centrally located. It is part of the Core Central Region, and owning any private residential property here would consider you as a ‘high net-worth individual’.

District 1 is a flourishing business and entertainment area that contains some of the most iconic architectural structures, such as Marina Bay Sands. With numerous glitzy skyscrapers and luxurious residential properties, District 1 has many vibrant and busy attractions that include Marina Bay, Raffles Place, Cecil Street and People’s Park. Situated in the heart of the city and as part of the Central Business District, District 1 attracts the rich and ultra-wealthy.

Although the majority of Singaporeans prefer more affordable lego-like public properties (or better known as HDB flats), District 1 possesses a certain luxurious charm that is a dream-come-true for rich folks and expatriates who value city-living and the extremely close proximity to their workplace. District 1 is more suitable for individuals or couples without children.

District 1 is a mix of the fantastically new and the historically old, where the fast pace of high finance merges beautifully with the laziness of the bountiful green spaces. In this guide, we will run you through the lifestyle highlights of District 1, plus any hidden gems that you may not have known about.

Marina Bay Singapore

The Centerpiece of District 1: Marina Bay

Marina Bay is synonymous with luxury in Singapore and the centerpiece of District 1. Marina Bay, an artificial bay located near the Central Area of Singapore, has become one of the main icons of Singapore. Properties in Marina Bay are among some of the most highly sought-after properties in District 1, as well as some of the most expensive. Marina Bay attracts investors and buyers from both inside and outside of Singapore due to its locational attributes, proximity to the central business district, quality of the properties and because most residential developments are luxurious ones. You won’t find any HDB flats in the Marina area. There are, however, plenty of luxurious condominiums and apartments here. Take a look at https://www.propertyguru.com.sg/property-management-news/2017/11/163909/marina-bay-a-district-one-should-watch to get more insight into the property scene in Marina Bay.

You might hear that Marina Bay is only a playground for the rich, but it is so much more than that. Marina Bay is filled with numerous leisure spots, trendy restaurants, shops and hotels. This makes it a great location for real estate investment, as everything is just a short drive or walk away. The main selling points of Marina Bay are the view of the Singapore skyline and the marvelous architectural masterpieces that dot the area.

One of the main selling points of Marina Bay is that it is a combination of city living while still retaining a residential feel. In other words, it has the best of both worlds. During the week, all shops and restaurants are open, and residents need not venture too far. The weekends are quieter and relaxing with most shops and office closed, allowing residents a calmer environment.

Other Areas

District 1 also includes other areas such as Raffles Place, Cecil Street and People’s Park.

Cecil Street is an area that is ideal for art and culture lovers. Numerous facades and developments in Cecil Street are awe-inspiring, and the Telok Ayer Performing Arts Centre is situated here.

Raffles Place is decidedly more downtown, situated in the Downtown Core and Central Area, a stone’s throw away from Marina Bay. It is also a short distance away from the famed Merlion.

People’s Park is located in the heart of Chinatown. The complex is a high-rise commercial and residential property and has been the basis of succeeding retail developments in Singapore.

Pros of Living in District 1

1.       Complete transportation networks
2.       Amazing views of the Singapore skyline
3.       Food, entertainment and shopping options a plenty
4.       Proximity to the financial district
5.       Lush greenery and waterfront promenade

Cons of Living in District 1
1.       Extortionate property prices and rents
2.       No schools within the immediate area.

Property Prices

The maximum and minimum per square foot price of private properties in the District 1 can cost a hefty price. The minimum PSF is at $634 at People's Park Centre and the maximum PSF is at $3923 at Marina Bay Residences, while the median price of a resale 4-room apartment in the central region is around $855,000. A luxury condominium in the Marina Bay area alone would cost you $40 million and upwards.

Amenities in District 1

District 1 has convenient transportation networks that can get you from here to there without a moment’s thought. Transportation is a breeze, with countless bus services and numerous fuss-free MRT stations. This makes it well-connected to other parts of Singapore.

The one thing that District 1 lacks is educational institutions. However, pretty much everything else you need is conveniently accessible. There are limitless amenities and facilities that fit any type of lifestyle you may have.

There is no scarcity of shopping options with major shopping haunts such as The Shoppes at Marina Bay Sands, Marina Square, Suntec City, Millenia Walk, People’s Park Complex and Chinatown Point to name a few. District 1 is a retail haven for the discerning shopper and offers a plethora of retail offerings that range from quality craftsmanship to bespoke offerings.

Food options are also aplenty in District 1, where you can find restaurants, cafes, bistros, fast food and even hawker fare. Thus, there is something to satisfy every stomach, from the cheap and cheerful to exquisite gastronomic escapades.

Despite its heavily commercialized outlook, District 1 also has a bit in store for all the nature-loving souls. GreenHeart, a huge green space in Marina Bay, is one of the largest public landscaping pursuits areas here and is a multifunctional area for public use with more than 160,000 trees and plants. There are also other sights and sounds such as Gardens by The Bay, Marina Barrage as well as the Waterfront Promenade, all of which offer a getaway from the modernity of steel and skyscrapers.