Rather interesting that people are imagining Bugis to ever overtake Orchard. While Bugis neighbourhood is conveniently located within the city centre, but it is also a district which attracts only a young-ish crowd, around 30 and under. Anecdotally, ever since I entered my late 20s, my social life in the Bugis area has diminished vastly. The only time I go there is to visit the cafe/food in the area. If I did a staycation in the few luxury hotels there (Andaz, JW Marriot), I would head towards Suntec / Marina for my shopping and meals instead of Bugis.
I feel that Bugis is simply not a place where people with a luxurious or lavish lifestyle would congregate. The commercial businesses in that area generally do not attempt to capture such a market. For those reasons, I'm highly doubtful Bugis would ever overtake or be equal to Orchard Road. That said, it would be more realistic to view Bugis as a "light" version of Orchard, or "budget" version of Orchard. For example, given the range of amenities and food options in the area, I think it would be quite a good location for own-stay singles or couples who do not intend to start families (lack of schools). This is because the location is convenient and it provides a good and diverse range of food and amenity options in the neighbourhood. Bugis also manages to retain some of the heartland feel in the vicinity, which can be appealing to the type of HDB upgraders who want to live in the city centre on a tight budget.
The million-dollar question that no doubt everyone wants to know is how high Bugis PSF will command in time to come. Even though I firmly believe it won't be the same or overtake Orchard, there is certainly a growth story in Bugis that is happening right before our eyes. But looking at the resales in DUO, I can't help but wonder if Bugis PSF is already peaking. Ultimately, I think the housing in this area only targets a very small and specific segment of the private condo market.
