Benefits of Owning an Integrated or Mixed Development Property in Singapore
With the current new launching of Pasir Ris 8, I have rush out this blog and hope more people will know more about Integrated & Mixed development.
Mixed development properties are common nowadays. There are various forms of mixed development properties – from residential units and commercial spaces to those with hotel rooms on the property. The concept of mixed development properties is to utilize the land to the maximum, as Singapore is lacking in land, and enhance the living standards of people.
The most common form of mixed development properties in Singapore is residential units + commercial spaces. Think of it as HDB with a mama shop below the block, but a more ‘atas’ version. Some examples of mixed development properties in Singapore are: Junction 9, The Poiz, The Wisteria, Pavillion Square, Sun Plaza, Spazio @ Kovan, and Oxley Edge.
You might be thinking: why was Pasir Ris 8, The Woodleigh Residences, Hillion Residences and North Park Residences are excluded in the list of examples? It is because the above developments are considered to be integrated development instead of mixed development. The difference between the two types of development is that integrated development has an additional benefit of having access to MRT station and/or a bus interchange, on top of having a mall below the residence.
Both properties allow home owners to have ease of access to their residential property as well as the mall, which includes supermarket, retail outlets, arcade, cinema, library, banks and food outlets, below it. Not only can residents get to enjoy the ease of access to the mall, there are also several other benefits that comes along with staying in a mixed development property.
There is various integrated & mix development for sale on the market now. They are; - Woodleigh Residences - Midtown Modern - One Berman - One-North Eden - Pasir Ris 8
- Sengkang Grand
1. Ease of Access & Convenience
With the amenities located within a stone throw away, residents can enjoy the convenience and also save time on having to travel just to get some items. This is of a great benefit if you are someone who either likes to make last minute purchases or if you purchase numerous items in one go.
Without having to travel far, residence can also go to the malls with minimal effort spent on dressing up as it will only take a short while to get the items. It will also lower the chances of getting drenched in sweat or in rain due to the unpredictable weather in Singapore.
2. Increase in Property Value
Integrated & Mixed development units tend to be considered to be for the upper-class people. Adding on to that, the convenience that it brings will also drive up the property value of the development. Buyers and tenants will then purchase or rent the property at a higher price so that they can have a better social status, thus driving up the value of property and the demand for it as well. With a limited supply but increasing demand, it is no wonder that property owners of mixed development can earn a passive income from renting their unit out.
3. Savings
Due to the fact that almost everything can be purchased directly below your house, there is no need to travel to a certain place just to get that one item that you need for a project that is going to be due soon. Without the need to travel, you can potentially save on petrol costs, parking costs, and most importantly, time (as time equates to money).
4. Lesser pollution to the environment
Adding on to the previous point of saving cost due to the reduced need to travel, there will also be lesser pollution to the Earth as there is no carbon emitted during the process of you travelling from your house to the retail outlets that are located below your house. This will definitely be beneficial to the entire population in the long run.
P.S. you can also exercise by taking a walk to the mall instead of taking a transport!
5. Ease of investment
Property owners should consider investing in an Integrated or mixed development property as it will provide you with the flexibility to make the investment based on what you prefer. This is because mixed property units are eyed by many. Simply put, you can sell it off or get a stable monthly rental income from a tenant.
Despite all the advantages of owning a these property, it also comes with some downsides as well. First off, the mall will attract a huge number of people which might result in you having to queue for a longer period of time just to purchase your daily groceries from the supermarket. This is definitely something that many wants to avoid as time = money.
With an increased number of visitors to the mall, the security of the residence might be slightly compromised as the ill-intentioned person can easily blend into the crowd. This makes it even harder for the security guards to execute their duties well.
The next disadvantage of an increased number of visitors is the noise pollution. If you are living one or two levels higher than the mall, the noise that comes from the crowd, arcade, or the shops might annoy you. This will be hard to deal with despite the management’s tries to control the noise level.
The benefits of owning an Integrated or mixed development property definitely outweighs the disadvantages. With the pace of living increasing steadily, having amenities located within walking distance can help to ease the stress from work or life in general. Furthermore, due to the lack of space in Singapore, the number of mixed development property is expected to increase and become even more common. Before committing to a mixed development property purchase, be sure to weigh the pros and cons, and make sure that you can afford the unit in the long run.
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