Geylang Property Transformation: How to get a Geylang Property Loan.
Geylang Property Transformation: How to get a Geylang Property Loan
In the run up of the property prices and population explosion from 2006 to 2013, we have seen a run up of property prices and rental cost that led to Geylang becoming an alternative residential location for expatriates working near town. Geylang is only about 2.5km from Bugis junction and it is also near to Suntec City and Marina square. Silently though, Geylang is also gradually known as the second china town where new Chinese citizens and PR congregate to Sze Chuan Food, North Eastern food, Hunan food and so on. Fruit stalls, great food and Geylang, with its proximity to the town centre is coming to the fore. In recent years, there has also been many new developments springing up in Geylang.
Geylang used to be known for its sex industry. Legal brothels litter across Lorong 4 till Lorong 40. There are also many KTVs and pubs. And many activities spills over to odd number Lorong as many working girls from around the region that came in on tourist visa ends up working the streets or in pubs, illegally. These girls also rent hotel rooms where they also ply their trade. Many Hotels sprang up between the year 2000 and now as they provided hourly rentals. Hourly rentals of hotel rooms meant that the hotels were able to reap high yields for each room. This led to the tear down of low rise landed shops/houses to make way for hotels. Where there are women, there are men who would spend. Many good food places can be found in Geylang.
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Fights are common after people get drunk. Geylang also has one of the highest concentration of religious establishments. Maybe where there is sin, there is redemption?There were many little “Enbloc” developments which were formed by amalgamating typically 3 to 10 house/commercial lots and built into small hotels. You will probably not hear of these enbloc developments in the news. The bigger developments such as those gated apartments could perhaps be made up from 10 to 30 landed lots. The biggest condominium would be Waterina along Lorong 40, and it has full condominium facilities and has 398 units.
The bigger condominiums such as Atrium residences along Lorong 28 which was complete in 2008 has 142 units. Many brothels are retreating from Lorong 28 and beyond lorong 30 plus. Now many are concentrated in Lorong 6 to lorong 20. Very few brothels spill over beyond lorong 24 onwards. Brothels are becoming endangered.
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