13 Jun '11, 3pm

[CNA] Balestier touted up-and-coming city fringe estate

[CNA] Balestier touted up-and-coming city fringe estate

SINGAPORE : The historical Balestier area is going through a makeover, with swanky new residential projects and several hotels now seen lining its streets. It is also attracting high demand from young couples and professionals looking for a convenient city fringe property. Still, home prices in Balestier are not rising as fast as other city fringe areas, but analysts say this trend may change once government works to spruce up the area are complete. According to data from the Urban Redevelopment Authority, home prices in Balestier are growing more slowly than those in other city fringe areas, increasing by 9 per cent on-year compared with the overall city fringe price growth of 11 per cent on-year. The Viridian, a 23-storey condominium, is Global Orion Properties' maiden residential project. The industrial property developer chose the historical Balestier area - the former...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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