Live, Work, Play: What Is the Next Generation of Property Buyers Looking For?

The conversation on livable cities is now more pertinent than ever, with the COVID-19 pandemic bringing the topic to the forefront. The mantra ‘Live, Work, Play’ has been instrumental in shaping URA’s policies.

Is this what the next generation of buyers should be looking at when making their property decisions? In this article, we’ll take an in-depth look into the concept and how it represents the needs of property seekers today.

What Is URA’s “Live, Work, Play” Concept?

URA’s mission is “to make Singapore a great city to live, work and play”. Through careful resource management, the goal is to strike a balance between “economic growth, a good quality of life, and the built environment”.

One major push is to develop mixed-use neighbourhoods, with the Marina Bay precinct being a prime example. The development of skyscrapers, office towers, condominiums, and leisure amenities transformed the neighbourhood rapidly, enhancing its vibrancy and livability.

Now, all eyes are on the Greater Southern Waterfront. Set to expand the boundaries of our city, the urban rejuvenation of the Greater Southern Waterfront aims to fully utilise our coastline and improve accessibility between offices and residential areas.

Extending from Pasir Panjang to Marina East, the waterfront promenade will connect large open spaces and greenery. More office spaces will be created, and the two old power stations in Pasir Panjang will be developed into a recreational facility. New nature trails will connect the Greater Southern Waterfront to existing parks. Additionally, 9,000 new homes will be introduced, including 3,000 private property units, and 6,000 homes will be BTO flats launched in the next 2 to 4 years.

How “Live, Work, Play” Aligns with Post-pandemic Buying Preferences

Post-pandemic buying preferences have seen buyers reconsider the way they purchase homes. Spurred by hybrid working arrangements, there has been a lean towards larger properties and valuing space. Another observed change is a shift towards wanting “Live, Work, and Play” properties.

Home no longer serves only as a place to rest. It is now a space where you can be productive and have your recreational needs met. Residents are looking for a property that allows flexible and customisable use of space, complete with adaptable furniture. They’re also seeking open green spaces, such as sky terraces and walking gardens, within the development to support overall well-being.

The pursuit of a balanced lifestyle leads homebuyers to look for an oasis near the city. That’s why we’ve seen popularity in District 15 neighbourhoods, such as the trendy Joo Chiat and Katong.

Another area to consider if you are looking for a home that aligns with the “Live, Work, Play” mantra is District 5, right in the heart of the new Greater Southern Waterfront. There’s a newly launched condo in this district called The Hillshore that ticks the boxes for what the next generation of property buyers is looking for.

The Hillshore: New Launch Condo for Exclusive Freehold Living in RCR

Developed by FRX Capital, The Hillshore is a freehold condominium located in District 5. During its launch weekend in April 2024, The Hillshore sold at an average price of $2,626 PSF. Two-bedroom units start at $1.86 million, three-bedrooms start at $2.63 million, and four-bedroom units start at $3.81 million.

700 visitors showed up on the preview weekend with potential buyers showing keen interest in three-bedroom units. All three-bedroom and bigger units come with an additional toilet for helpers. Meanwhile, the two-bedroom units have a dumbbell layout to maximise space.

Large Units in a Boutique Development

With only 59 exclusive units, the boutique development can be considered a small launch. Perched on a hillside, the top-floor unit is positioned at a height equivalent to 13 storeys. The low-density environment further enhances the tranquillity of the neighbourhood and condo.

In line with the preference for larger living spaces, the 45,742 sqft site offers homes ranging from 743 to 2,185 sqft. Within the unit mix, four dual-key units are on offer (these homes are four-bedroom units). This gives residents the luxury of space and the flexibility to configure their homes to meet their evolving needs for rest, work, or play.

Luxury fitting and appliances are installed in every home to ensure maximum comfort. In the kitchen, residents have a V-ZUG hood and cooker hob, which features four cooking stoves. The toilet’s sanitary wares are Duravit; the cistern is from Geberit; and the shower heads and taps are by Hansgrohe.

Gateway Between Nature and City Living

Pasir Panjang Park, West Coast Park, and Kent Ridge Park are nearby. In the evening, residents can take strolls or walk their pets there and on the weekends, they can hike at the nearby Labrador Nature Reserve, Southern Ridges, and Mount Faber trails.

Another benefit of The Hillshore’s proximity to nature is the sweeping views of lush greenery. Residents can take in the spectacular skyline from their homes and around the property. With plans to improve and connect the 13 parks in southern Singapore, residents will enjoy spectacular connectivity to the natural world.

Those who have to commute to the Central Business District (CBD) for work will appreciate the convenience offered by The Hillshore’s address. Residents can reach the Downtown Core in 14 minutes via the West Coast Highway.

5-minute Walk from Haw Par Villa MRT Station

Being within walking distance of Haw Par Villa MRT station is another lure of the property. In the future, when the Circle Line is completed in 2026, the enhanced accessibility will translate into an easy commute across the island. From Haw Par Villa MRT station, the National University Hospital is just one stop away. Residents can also get to Holland Village and Vivocity in four MRT stops, Botanic Gardens in six stops, and Marina Bay Sands in nine stops.

LTA is also considering connecting the Jurong Region Line to the Circle Line. Should this happen, the Jurong Region Line will see a West Coast extension to Haw Par Villa MRT station.

But if you prefer to drive, parking will not be an issue. There is a one-to-one parking lot provision, of which four are EV charging lots.

Rare Freehold Property in the RCR

Of the 66 project launches from 2021 to 2023, 33 were freehold projects. Half (or 16) of these freehold projects were in the Core Central Region (CCR), while 12 were in the Rest of Central Region (RCR). The limited quantity of freehold RCR places The Hillshore in a privileged position.

Due to the Greater Southern Waterfront’s status as an up-and-coming location, The Hillshore’s prices may be seen as undervalued as the surrounding area is still not yet fully developed, presenting an opportunity to enter the market in a favourable position.

Dr Tan Tee Khoon, Country Manager – Singapore, PropertyGuru, adds, “The Hillshore is banking on The Greater Southern Waterfront to make good its promise to capture a wider catchment of buyers beyond Pasir Panjang. Its great allure is exactly the promise of ‘Live, Work, Play’ that it touts.”

Potential Capital Appreciation and Rental Opportunities

The transformation of the Greater Southern Waterfront area will see the relocation of Keppel Club and Pasir Panjang terminals. The future 6,000 BTO flats and 3,000 private homes planned for the site will likely support the growth of future home prices.

Being poised in a convenient city fringe location allows for a wider rental catchment. Those who work in the CBD are likely to cast their net to surrounding city fringe neighbourhoods.

Future businesses nestled in the Greater Southern Waterfront will provide investors and potential landlords with an ample tenant pool. In the meantime, those who work in the surrounding Mapletree Business City, Science Park, the National University of Singapore, and the National University Hospital are likely to already provide bountiful leasing demand.

Buying The Hillshore Condo in Singapore

When hunting for a property that accommodates a modern-day balanced lifestyle, owning a home that encapsulates the “Live, Work, Play” concept may be the answer city dwellers are looking for.

Regardless of which property you choose, you want to ensure you can comfortably afford your new home. Additionally, you need to pick a mortgage suited to your financial needs and goals.

Our friendly PropertyGuru Finance Mortgage Experts can take you through the entire home loan process, offer tailored financing advice, and help you land on your desired mortgage package. Best of all, it’s at no cost!

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