District 15 has undeniably been the most sought-after district in Singapore over the past decade. Covering Katong, Joo Chiat, and Amber Road, many people enjoy living in the eastern part of Singapore for its sea views along East Coast Park, reputed schools, plentiful eateries, as well as its nostalgic Peranakan culture.

There are 3 key reasons why private homes in District 15 (D15) offer a lucrative prospect for investors who are looking to grow their wealth:

1.    1) D15 is the most popular district over the past decade

2.  2)Fastest capital appreciation among all districts in the city fringe

3.  3) More redevelopment work for D15 under the Master Plan.

District 15 is the leading district with the highest number of resale transactions, making it the perfect location for selling your home with ease. Based on data from the Urban Redevelopment Authority (URA), a total of 9,432 resale condos have been sold in District 15 from 2014 to 2023, representing 10 per cent of the total market share. Including new sales and subsales, District 15 emerges as the second top district with the highest transactions in Singapore, totaling 14,356 units.

Discover the lucrative opportunities in District 15! URA data from 1995 to 2023 reveals that an impressive 86 per cent of properties in this district have been profitable. This surpasses the island-wide condo profitability rate of 81.9 per cent. 

2. Fastest capital appreciation among all districts in the city fringe  

Private homes in District 15 have seen the highest capital appreciation in the city fringes. Based on URA data, the median prices of condos in District 15 have surged by a significant 74 per cent from S$1,418 per square foot (psf) in 2013 to S$2,470 psf in 2023. This growth surpasses many other districts in the city fringe or Rest of Central region (RCR), such as District 20 at 26 per cent and District 23 at 27 per cent. This clearly indicates that properties in District 15 offer substantial long-term value.

Moreover, private homes in District 15 are highly profitable. With over 1,331 condominiums being sold for gross profits of at least S$500,000, and more than 573 condos making a gross profit of at least S$800,000, properties in District 22 are highly lucrative. In fact, 364 units have made at least S$1 million!

The highest profit was recorded for a condo at Camelot By-The-Water, which was purchased for S$3.73 million in 2000 and resold in 2010 for S$9 million, yielding a gross profit of S$5.26 million. The second-highest profit was for a unit at Pebble Bay, with a purchase price of S$2.17 million in 1995 and a resale price of S$5.15 million in 2023, resulting in a gross profit of S$2.98 million.

3. More redevelopment works for District 15 under the Masterplan

Massive redevelopments will be happening in District 15 under the URA Master Plan. Exciting business and employment opportunities are available for Singaporeans through the development of Paya Lebar Central and Geylang Serai. Residents can expect more jobs to be created in the vicinity as they seek to work closer to their homes. Home investors can also benefit from the bigger tenant pool.

Furthermore, there will be improved mobility and connectivity with the completion of new MRT stations, such as The Tanjong Katong MRT Station on the Thomson-East Coast Line (TEL) in June 2024. New stations on the Cross Island Line (CRL) will also be built nearby in the East in the upcoming years.

Moreover, the government announced in November 2023 that it will be reclaiming the “Long Island” off the East Coast. Residents can look forward to the integration of scenic greenery with recreational spaces. The new waterfront living concepts can be an attractive proposition for families.

Based on the investment potential and upcoming development plans, buyers should not wait too long. They should take advantage of today’s opportunity to buy a condo within District 15. Doing so will not only allow them to enjoy the attractive locational benefits and future developments, but also guarantee that their investment will yield financial benefits in the long run.  

For the pleasure of owning a home in District 15, please contact your preferred OrangeTee sales advisor.

Don't miss out on this chance to capitalize on a sound investment that promises substantial benefits!