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Geylang's Rental Market: Popularity and Considerations

Geylang's Rental Market: Popularity and Considerations.

Geylang generates mixed reactions among Singaporeans, Geylang Condos. On the one hand, this is a hotbed of evil: A haven for gambling, prostitution, and illegal cigarettes. On the other hand, it is a foodie haven and a vibrant unspoiled residential area in stark contrast to the clockwork performance in much of the rest of Singapore.

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Dig deeper into Geylang,Geylang Condos and many will be surprised to find that it's one of the most searched for rental postcodes in Singapore — and over the past 15 years, as research and information shows. 99.co intelligence revealed.

Geylang Condos News The rental area of choice

Geylang Condos News The rental area of choice

Many Singaporeans will agree that Geylang needs socialization. Since the 1980s, Geylang has been the epicenter of legalized prostitution in Singapore. While brothels are licensed, many activities in Geylang are not. Smuggled cigarettes, gambling in the streets, illegal pedestrians on the streets and dodgy aphrodisiacs packaged as “aphrodisiacs” — Geylang has it all.

However, Geylang is a vibrant district with Geylang Condos, one of the few places in Singapore where old-fashioned, first- and second-generation hawkers ply their trade. That's where Singlish and dialects are mixed into a continuous hum, with members of the clan association practicing traditional wushu and lion dances.

Very few people want to be recognized as a Geylang host. In fact, many landlords who rent out their housing units have a reputation for being slums. It is therefore not surprising that banks are generally unwilling to grant home loans to consumers who wish to purchase residential property in Geylang.

If there is a foreclosure, the homeowner may have a hard time finding a buyer.

However, we research and intelligence has shown that contrary to popular perception, Geylang is a prime location that has never been short of tenants over the past 15 years, with a occupancy capacity of 100%!

It is very accessible to the CBD, financial district and shopping. Geylang is more than 10 minutes by car from the city center, financial districts and Marina Bay. By train, it is served by Aljunied and Kallang metro stations. Geylang is also home to some of the best eateries in Singapore and is known for its cheap electronics. It also has a sports and entertainment center. Skip the red light district, and you have all the important qualities of a prime location.

So while Geylang is not family friendly, it is ideal for singles or expats who make accessibility to their workplace a top priority. Recent rezoning laws also mean that Geylang could become a gold mine, even a family home. The Urban Redevelopment Authority (URA) is prohibiting further residential development between Lorongs 4 and 22 in Geylang, with the land used for commercial development. The current limited supply of housing options in Geylang means existing title properties have the potential to appreciate even more.

Geylang has seen property values skyrocket in recent years. According to a real estate agent at Geylang showroom and two investors 99.co spoke to, the property's value has increased from S$1,100/m2 in 2012 to S$1,400/m2 now.

We're latest check shows an average overall price of around S$830,000 for a property in Geylang, cheap for an apartment within a 10-minute drive of the city centre. The relocation of Paya Lebar Air Base is expected to lift height restrictions in Geylang. Taller apartment buildings in Geylang mean higher land prices.

These data points and the general sentiment among agents and investors are evidence that demand from single tenants and expats has increased dramatically since the late 1990s. In fact, one One of the investors pointed out that of all the properties he owns, his condominium in Geylang is the only one that has never been vacant for over 15 years.

Investors were told to claim a rental yield of around 6% in Geylang. One of these apartments is a shoebox apartment at Prime Residence at 41 Lorong 22. The apartment is approximately 400 square meters in size and has a rental income of S$3,200 a month. A quick check of This website's listing reflects rental prices ranging from a lower average of S$2,500 to S$3,000.

However, with the new restrictions on residential properties, homeowners in Geylang will not face competition in the area in the coming years. And for potential investors, Geylang holds pleasant surprises and can be a great investment for those who are open-minded.

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