The opening of Bishan MRT in 2024 transformed The Bayshore condo's value, increasing prices by 40% from 970 psf to over 1,340 psf in just 4 years, demonstrating how proximity to new transportation infrastructure can significantly boost property values even for older developments.
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Top 100 Condos - The BayshoreAñadido:
The oldest condo in Singapore's top 100 is 33 years old, defying all conventional wisdom. But, it wasn't always the case. When it was built, the closest MRT was over 4 km away. And that's the reason why it was performing at below the market average for 30 years. When Bishan MRT finally opened in [music] 2024, the commute to the CBD shrunk from 45 minutes to under 30.
Prices reflected it. From 970 psf in 2020 to over 1,340 psf in 2024. 40% in 4 years. And coming in at rank 92 is The Bishan. Here's three things to note. Right next door, we have The Bishan Transformation that's going to bring in almost 12,500 new homes and a $2 billion mixed-use development. And we are just getting started. Number two, if you're looking for a good deal, the two-bedders at The Bishan are averaging 15% below the OCR resale average. Some people have the impression that if a new condo is sold beside an existing condo, they will help pull up the prices. Now, if you look at the case study of The Bishan and the recently sold Villa Bay, prices at The Bishan have hardly gone up post-GLS. So, The Bishan, if you don't mind the lease, it represents excellent value for money, be it for your own stay or for investment. And it's also being helped by a huge amount of transformation coming up nearby. Now, that is if you don't mind the lease. If you enjoyed this, don't forget to follow us as we rank the next 91. Or comment 100 down below for our research PDF.
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