WHERE THE NEW HOMES WILL BE
The latest master plan includes new neighbourhoods in areas such as Newton, Paterson, Dover-Medway along Dover Road, the former site of Singapore Racecourse in Kranji, as well as Paya Lebar Air Base and the Sembawang Shipyard area.
Experts said decisions on housing types in each area are guided by factors such as land value, allowable density and the availability of land.
For example, prime areas with high land prices like Newton and Paterson are slated for private housing, in line with development costs and demand for high-end residences, said professor of finance and real estate Qian Wenlan from the National University of Singapore’s business school.
In contrast, districts like Dover-Medway are “relatively more affordable”.
“With existing commercial and academic hubs nearby (in the Greater One-North area), a mix of public and private housing ensures a broader spectrum of residents, helping to form a diverse catchment area for these hubs,” she said.
Assoc Prof Theseira added that public housing projects in Singapore are typically large-scale developments with high density to justify investment in infrastructure like a town centre, polyclinic, hawker centre and public transport.
“Thus, we generally no longer develop standalone small blocks of public housing and we need a larger neighbourhood or area to develop. The land values must also be low enough that after subsidies, they are still affordable as public housing,” he said.
“The purely private development areas tend to have one or more factors that mean public housing development is infeasible.”
