Singapore’s East Coast Road is renowned for being lined with large houses, condominium apartments and famous food and beverage outlets. Highly sought after in the 1970s for its suburban tranquility, this neighborhood looks set to enter a real estate boom with mounting speculation on the construction of an underground LRT (Light Rapid Transit) extension of the MRT(Mas Rapid Transit) line.
Singapore’s real estate value should not dip by more than 10 percent in 2009 and is expected to continue it its upward climb in the long-term. Government financial reserves ensure that ongoing and future infrastructural developments shall proceed unimpeded despite the problems that the world economy now faces.
Land resource is limited in Singapore. Even as the government owns about 90% of the land here and URA (Urban Redevelopment Authority) projects are undertaken at an optimal pace, the availability of land has always been a serious consideration. Land reclamation from the sea is hard pressed to keep up with Singapore’s dynamic rate of growth.
