District Diaries: Tracing the Evolution of District 15

Welcome to the first article in our new series – District Diaries, where we will travel in-depth through Singapore’s dynamic districts, peering through the lens of real estate to unravel the rich tapestry of each locality’s land history and built environment. Come along as we delve into the captivating stories behind Singapore’s diverse districts, shedding light on their transformation and current architecture that shapes them today. Get ready to learn more about the unique relationship between land, history and real estate in Singapore’s metropolitan setting. 

The first district that will be featured in this new series will be District 15 which encompasses the areas of Joo Chiat, Amber Road and Katong. 

District 15 – History

Before the various shopping malls and many high-rise condominium developments, District 15 was home to multiple plantations that grew coconuts, nutmeg, gambier and pepper. With the introduction of longer land leases from 1828 onwards, more European planters set up shop here, planting more nutmeg to reap the profit when the trees matured and bore fruit. As such, the Eurasian population increased around the area and thus slowly transformed the area. More schools, churches and other amenities were built to cater to the growing population. 

Through the early 20th century, the Joo Chiat and Katong areas were also made home to the Peranakan community who were entrepreneurial traders and shopkeepers with a majority involved in real estate, shipping and banking. Currently, many of the residential buildings on Koon Seng Road have Peranakan influences on their facades. There are also some Peranakan restaurants in the neighbourhood. 

The area thus prospered and is now seen as a middle to high-income enclave with many landed properties and condominium developments scattered throughout. Meyer Road and Amber Road are recognised for their large concentration of freehold land owing to the 999 years or freehold land leases from the 1800s. 

District 15 – Present

Current Developments

While there are dozens of private non-landed developments in the whole of District 15, we will be delving into the lesser-known west side of District 15 (Katong Park), away from the bustling well-known and well-covered Katong area. Here, there are more than 20 private non-landed developments that run from Margate Road to Tanjong Rhu Road, with Dunman High School and Etonhouse International Research Preschool located nearby.

Similar to the landed properties in the area, these condominium developments sit on freehold land and thus command higher price tags on their price per square foot (psf). However, the high price point is not without its perks. These properties are located close to the western edge of East Coast Park, where park connectors are linked all the way to the Marina Barrage and Gardens by the Bay. Katong Park, Parkland Green, Singapore Swimming Club and Katong Swimming Complex are also located nearby. 

Accessibility

In terms of accessibility, Katong Park MRT station is just a stone’s throw away and is currently under construction along the Thomson-East Coast line, which is slated to open in 2024. This much-needed MRT line, which will serve the bulk of the non-landed private residences around the area, will shorten the journey for commuters heading to the Central Business District, being only five and six stations away from Marina Bay and Shenton Way MRT stations respectively. For residents with cars, a slipway into the MCE is located nearby and will serve as the main expressway to the CBD, taking around 10 minutes for the journey. Additionally, with the East Coast Parkway (ECP) and Pan Island Expressway (PIE) nearby, residents are well-connected in travelling to other parts of Singapore. 

Lifestyle

Right next to Katong Park MRT station is Katong Park, a relatively large neighbourhood park with a historical landmark – Fort Tanjong Katong. The park also has a designated space for a dog run, where dogs are free to play off-leash in a caged area. There is also easy access to East Coast Park located within Katong Park, via an underground crossing below ECP. 

Golf enthusiasts can also visit the prestigious Marina Bay Golf Course which is located 6 minutes away by car. The 18 holes golf course comes with driving ranges and practice greens. 

Property Prices

Current prices for non-landed developments in the area range from $1,562 to $2,314 psf depending on the age of the property. Meyer Mansion, a freehold condominium located along Meyer Road, launched in 2019 with an indicative sale psf range of $2,634 to $2,994. This price range solidifies the demand and high prices in District 15. Take a look at the current prices of other freehold properties in the area below. 

District 15 Offers Higher Returns on Average

District 15 is a thriving and exciting place to live, with a huge range of amenities and shopping malls, as well as the lively nightlife along East Coast Road. It is also located near the coastline offering sea views for many of the taller developments. These advantages have thus translated into higher returns for private homeowners relative to the regional average. With data taken from ERA, in the past 10 years, psf prices for freehold private homes increased by 10.36% while the rise was a whopping 32.89% in District 15. 

Hence, if historical rates are a good indicator,  District 15 will continue to enjoy better yields on their real estate prices. When the Thomson East Coast Line is operational, property prices will be expected to increase yet again.