Modern-day Bugis is associated with shopping malls, cheap clothes and the vague promise of a great deal for tourists.
For locals, its a place with a colourful history.
The neighbourhood once played home to wild, flamboyant street parties with sailors and transvestites. These vestiges of the past have given way to gleaming skyscrapers and large malls that sit on the fringe of our citystate’s CBD.
Prime Fringe District
Bugis’ housing situation is unique, in the sense that a large part of the area is used for commercial purposes. This leaves less land available for private residential developments and a minuscule portion of land for HDB housing projects.
Its proximity to the city centre is also a factor in pricing, and housing decisions, as buyers and renters alike will recognise that the large premiums they are paying for come from the neighbourhood’s central location and limited availability.
One of the key private developments in the area is the rather popular Kallang Riverside development. This 212 unit freehold condominium has been popular, due to the unconventionally large size of the development’s 1 and 2 bedroom configurations.
The site itself is also very rare – a riverside location that sits right across the bridge into the city centre, with a view of the city skyline. Of course, freehold riverside living so near to the city comes with a hefty price tag, with units in the development going at a high PSF pricing.
A typical 1033 sq ft 2 bedroom configuration goes at around $2.074 million, which boils down to around $2000 psf. A 3 bedroom, 2508 sq ft penthouse configuration would set buyers back $6.27 million, or around $2503 psf.
Rentals in this development are already coming up as well. Again, location and size factor into the pricing, with units like a 2 bedroom going at $6900, or $6.89psf.
There are other developments in the area, for example, the popular Riverine By The Park, Water Place, Sanctuary Green and Pebble Bay.
All of them command similar premiums, and while the difference here is between whether the land is 99-year leasehold or freehold, one thing is true: Pricing is above average for condominiums in Singapore due to the solid central location of the area.
High Accessibility, Great Amenities
Speaking of location, the neighbourhood has some amazing accessibility. Let’s start with the fact that there are a number of roads that lead to connecting to 3 major highways. The PIE, CTE and ECP are all within a 5-7 minute drive.
Even if you don’t drive, Kallang, Lavender and Bugis MRT serve the district, so public transport connections on the East-West Line, Downtown Line and Circle Line are covered.
The area is also very near to the National Stadium, Singapore Indoor Stadium and Kallang Theatre. Besides the obvious proximity to a major event zone, proximity to the Singapore River also means access to a variety of water sports.
If you take a run through the Tanjong Rhu park connection, it will lead to the scenic Marina Barrage, Marina Bay Sands and the general Marina Bay area. Food and groceries won’t be a problem, as Kallang Wave Mall and Aperia Mall both possess supermarkets and eateries.
Bugis has come a long way from its early days and is slated for more development in the coming decade.
With a URA master plan in place, an unceasingly vibrant waterfront and a growing city downtown hub just across the river, Bugis is indeed a neighbourhood that will be known for its waterfront luxury living and amazing creature comforts in the years to come.