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18/10/2019
Society

Great Southern Waterfront: A New Paradise for Millennials?

The PM’s National Day address this year had no shortage of big announcements, including a major shift on climate change preparation for our little red dot. One of the other big announcements was the Greater Southern Waterfront (GSW), a major development which potentially could house 9,000 new residential homes. This has property developers buzzing, with some predicting a ‘lottery’ effect for those who manage to snag a unit in the south of Singapore.

This month we asked Singaporeans how keen they might be to purchase a unit in GSW. Results show that more than half (55%) are initially interested, with millennials aged 25-34 particularly excited (69%). Those currently living in the north of Singapore are less keen to move southside, with 59% disinterested in GSW (compared to 45% across Singapore as a whole).

Public housing options appeal more to interested buyers (74%) and only 20% of those interested indicate they wish to purchase for investment purposes, possibly highlighting the impact of cooling restrictions on finance leverage.

Besides housing, Singaporeans want to see the precinct feature parks and nature reserves (54%), restaurant and café districts (42%) and waterfront resorts with beach activities (40%). Younger Gen Z Singaporeans, however, would like to see more car-free areas in the area (48%).