The number of mixed-use developments sprouting up across the island has increased significantly in the last decade or so. In most large transport nodes, there may be at least one.
Building on the foundation of combination of residential and commercial uses in a single property are integrated developments which will include not only commercial uses but also community aspects such as public spaces, amenities and services.
Mixed-use developments often command premiums
The conveniences and mutual benefits the commercial and residential components of mixed-use developments are many. Though how much buyers are willing to pay for a private apartment here may still be subjected to one of the most popular criteria – location.
Most of the successful mixed-use developments in Singapore are near or linked to an MRT or LRT station and/or bus interchange. Outside of the Central Business District (CBD), the commercial aspect of these properties is almost always retail.
Within the CBD, some of these mixed-use developments may also contain office spaces.
The government’s plans for the redevelopment of certain suburbs such as Paya Lebar, Punggol, Jurong and Woodlands into commercial and business hubs may also be fodder for developers looking to establish more mixed-use developments which include office spaces outside of the CBD.
Communal living may be the way ahead
Analysts think that the mixed-use phenomenon is here to stay especially as Singaporeans become more familiar with mixed-use living and co-living spaces such as Hmlet and lyf take off.
Though communal living may not yet be everyone’s cup of tea, the way forward seems likely to include resource-sharing. In future, private properties in proximity may even share facilities in order to maximise space and reduce wastage of idle resources.
Some of the upcoming mixed-use developments to watch out for include Woodleigh Residences in district 10 and also the future integrated development project in Holland Village.