With its weird incidents of cat abuse, murder, taxi driver feuds, knife wounds in shopping malls, and falling concrete slabs (among others), Yishun has certainly earned a fearsome reputation.
Even Netflix took note of this back in 2017 and took the opportunity to introduce the supernatural mystery series ‘Stranger Things’ to the audience in Singapore.
Isn’t it surprising that homebuyers with a creepy nickname like “The Devil’s Ring” are wary of buying property in this northern town? In the following, we examine whether this feeling is justified – and what important information you need when considering making Yishun your home.
Is there really something wrong with Yishun?
There is nothing wrong with Yishun; The negative perception is determined by media coverage and confirmation bias. It is a psychologically proven phenomenon that people tend to focus on the negatives in a wide variety of events – a concept known as negativity bias.
There are loads of good things that happened in the neighborhood too.
For example, in May 2016, 12-year-old Yishun Elementary School student Ashvin Gunasegaran rushed to help victims of a car accident at the intersection of Yishun Ring Road and 2 Yishun Avenue.
In addition, bizarre events do not only occur in Yishun. Stab wounds also take place in Jurong East. There are many cases of cat abuse in Bukit Batok, Tampines, and Ang Mo Kio.
The average price for real estate in Yishun has increased steadily
To believe the idea that there is nothing wrong with Yishun: Flat rate prices in the region have risen steadily – in line with the general trend in Singapore.
For example, the HDB 5 bedroom apartments in Yishun averaged 400 psf in 2020, compared to 305 psf in 2010.
That is an impressive increase of 31.1 percent. At its core, Yishun is a mature, family-friendly area. There is no doubt that Yishun is well connected with its proximity to 3 MRT stations (Yishun MRT, Khatib MRT and Springleaf MRT).
It is also equipped with many amenities (e.g. Junction 9) and educational facilities (e.g. Peixin Primary School and Chung Cheng Secondary School).
Real estate price development in Yishun
| Real estate category | Art | House prices psf (September 2010) / S $ | House prices psf (September 2020) / S $ | Percent increase / percent |
|---|---|---|---|---|
| HDB | 3 bedrooms | 372 | 394 | 5.9 |
| HDB | 4 bedrooms | 332 | 369 | 11.1 |
| HDB | 5 bedrooms | 305 | 400 | 31.1 |
| Private | Prices for non-landed private residential properties | 628 | 1,015 | 61.6 |
Yishun offers attractive prices for first-time buyers
If you’re like most first-time buyers, down payment is your biggest financial concern – especially if you don’t have adequate CPF savings and need to pay them in cash instead.
You can at least relieve some of that burden by opting for an apartment in Yishun, which is home to some of the cheapest real estate in Singapore (951 psf average in December 2019).
Singapore Property Price Per Square Foot (2021)
| circle | neighborhood | Average PSF / S $ |
|---|---|---|
| 25th | Admiralty / Forests | 766 |
| 27 | Sembawang / Yishun | 951 |
| 17th | Changi Airport / Changi Village | 1,000 |
| 26th | Upper Mandai / Upper Thomson | 1,040 |
| 23 | Dairy farm / Bukit Panjang / Choa Chu Kang | 1,042 |
| 22nd | Blessings Lay / Jurong / Tuas | 1,043 |
| 16 | Bedok / Upper East Coast | 1,063 |
| 18th | Pasir Ris / Tampines | 1.122 |
| 19th | Hougang / Punggol / Sengkang | 1.244 |
| 28 | Seletar / Yio Chu Kang | 1,270 |
| 12th | Toa Payoh / Balestier | 1,383 |
| 15th | East Coast / Navy Parade | 1,416 |
| 21 | Clementi Park / Upper Bukit Timah | 1,446 |
| 5 | Good Views / West Coast / Clementi New Town | 1,493 |
| 8th | Farrer Park / Serangoon Road | 1.531 |
| 14th | Eunos / Geylang / Paya Lebar | 1.547 |
| 13th | Macpherson / Sand Cut | 1.593 |
| 20th | The Mo Kio / Bishan / Thomson | 1.614 |
| 4th | Sentosa / harbor front | 1.624 |
| 11 | Newton / Novena | 1.764 |
| 3 | Alexandra / Commonwealth | 1.936 |
| 1 | Boat quay / competition area / marina | 2.204 |
| 9 | Orchard / river valley | 2.256 |
| 2 | Chinatown / Tanjong Pagar | 2.402 |
| 10 | Tanglin / Holland / Bukit Timah | 2,477 |
| 7th | Beach road / Bugis / Rochor | 2.718 |
The upcoming developments in the region could result in capital gains
If you’re still on the fence, it might be helpful to find out about upcoming developments in the area. First, a new integrated development is scheduled to go live in Chong Pang City by 2027.
This development is expected to be 0.9 acres and include pools, gyms and new shops. It is conceivable that this will boost demand for housing in the area, which is known to increase prices.
Say you buy a property in Yishun in 2021, then you have reached your minimum occupancy time – and can sell it for some serious capital gains.
There are also two new nursing homes in Yishun that may be of interest to young buyers who are concerned about their elderly parents’ health needs.
Speaking of which, it doesn’t hurt that Yishun became Singapore’s first dementia-friendly city in 2016.
Make decisions based on budget and location
As with all property buying decisions, it makes most sense to buy a home in growth areas that are accessible to amenities and attractions – and especially transportation. Yishun ticks all the boxes and is a viable option for budget-conscious buyers.
Regardless, buying a property is a significant financial obligation. Don’t forget to factor the renovation costs into account when budgeting your home so that you don’t take on more debt than necessary.
If you can find an affordable home loan, you can save thousands of dollars.
This article was first published in ValueChampion.
