Is it okay to buy a unit at Wing Fong mansion, Geylang?

BernardWYF

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Ps, was referring to the red light district cos u mentioned

…and this building will En-Bloc once the prostitution industry is shifted to Changi.

only uds PLAB shifting to Tengah.
URA's masterplan and news release didnt not give the actual dates. But due to covid, may be delayed as Changi development area is also now delayed. Cannot estimate until economy outlook is cleared.
There was no exact dates given so far.
 

hem.biw

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Might not come out in the media. If it is out then the prices will shoot up overnight. Might happen in a slow and easy manner by not renewing licenses to operate.
 

hem.biw

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Wing Fong has been rezoned as Commercial/Institution, no more residential.

The usual enbloc assumptions may not apply. But if one is buying for what it is today, looks good value for a mancave.
Thanks, about to close the deal for 800psf. Hope the prices will hold given it's location. Enbloc, nobody can predict though. Given the freehold status, I suppose it's worth the risk. PayaLebar air base moving out in 2030, might change it's face.
 

lowzeewee

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no, for own stay. Each level has only 2 units. So not so bad. Get a big unit to live. What's your advice ?
The 'neighbourhood' is slightly better at night now due to all the travel restrictions, but once they are lifted, the walkers will be back in full force.

Just curious, why did you choose this area to stay in ?
 

mementomori

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Is it ok to buy a unit in Wing Fong mansion at $800 psf.
It is a free hold development
one of the largest plot area in Geylang (enbloc potential)
red light may eventually die down (already many closing due to covid restrictions)
city fringe

Advice please.
Lol if you think red light will eventually die down.

Men's lust will never ever go away. Even pastors and MP also have affairs, brothels are one of the worlds oldest professions
 

hem.biw

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The 'neighbourhood' is slightly better at night now due to all the travel restrictions, but once they are lifted, the walkers will be back in full force.

Just curious, why did you choose this area to stay in ?
Lorong14 is completely occupied by Wing Fong mansion and wing fong court on one side. Opposite to the development is mostly associations. There are 2 red light establishments, but i see a for rent outside these shops. One shop opposite to the car park has already converted to F&B. So This Lorong shoud be not that bad i suppose.
 

hem.biw

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Lol if you think red light will eventually die down.

Men's lust will never ever go away. Even pastors and MP also have affairs, brothels are one of the worlds oldest professions
True, might not die down, but might be shifted to a location not so central. I suppose there were similar establishments in China town and Tanjog Pagar earlier.
 

dumbothecute

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i think that these places need to be centralized, it needs to be accessible for people

you make it hard for people to access, trouble will follow

you want your place to be clean so you shifted the toilet to 20km away, in the end, people who have the urge to pee will just pee in your garden. i think it has to stay in central. thats my thinking
 
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CaptainSGP

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no, for own stay. Each level has only 2 units. So not so bad. Get a big unit to live. What's your advice ?
Just get whatever u like for own stay. Don’t bother with ppl’s comments.

But if u want something with capital appreciation, it’s hard to say… En bloc is something that require many events to align nicely …

Buying for en bloc is a Low probability investment that could produce much higher returns if it does eventually happen. The risk is no en bloc in near term which will ‘trap’ your investment capital for a long time.

For me, I prefer to buy new launch with high capital appreciation potential based on known short to medium term developments & analysing Demand & supply. I think this produces better risk-adjusted return & is less dependent on external factors beyond my control
 

ThinkCarefully

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###

Think you know Geylang is divided into ‘red’ zones and ‘non-red zones’

the problem with red zones is ease of selling.
Loans difficult to get and that is why appreciation is almost non-existent, (you would be happy if no depreciation)

like most, the bet is if the height restrictions lift and en bloc becomes a possibility. If I were to buy for own stay or rent, I would choose ‘safe lorongs at safe entry prices’ to limit my risk and yet able to get loans.

PLAB probably will stay till 2030? so need to wait at least 10 years... should target < 10 yo units so as not to have to much deterioration/ high maintenance costs while waiting..

###
 
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hem.biw

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###

Think you know Geylang is divided into ‘red’ zones and ‘non-red zones’

the problem with red zones is ease of selling.
Loans difficult to get and that is why appreciation is almost non-existent, (you would be happy if no depreciation)

like most, the bet is if the height restrictions lift and en bloc becomes a possibility. If I were to buy for own stay or rent, I would choose ‘safe lorongs at safe entry prices’ to limit my risk and yet able to get loans.

PLAB probably will stay till 2030? so need to wait at least 10 years... should target < 10 yo units so as not to have to much deterioration/ high maintenance costs while waiting..

###
thanks for the insights. Somethign i fail to understand is that the plot ratio is 2.8. So most of the plots in Geylang has maxed out on it's plot ratio even though they are restricted to 8 floors currently. When PLAB moves out they can go higher but the built up area remains the same unless plot ration increases.
 

Limranie

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thanks for the insights. Somethign i fail to understand is that the plot ratio is 2.8. So most of the plots in Geylang has maxed out on it's plot ratio even though they are restricted to 8 floors currently. When PLAB moves out they can go higher but the built up area remains the same unless plot ration increases.
 
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