New kid on the block: Tiong Bahru named as Singapore’s next property development hotspot

It’s on par with London’s Victoria Park and Hong Kong’s Kowloon West.

The old neighborhood of Tiong Bahru is on the cusp of a radical transformation. The neighborhood has been named as one of the world’s ten property investment hotspots in Knight Frank’s inaugural Global Cities 2015 report.

Tiong Bahru joins the ranks of Williamsburg in Brooklyn, New York, Kowloon West in Hong Kong, and Victoria Park in London.

Other areas in the list include Barangaroo in Sydney, Business Bay in Dubai, and 16th Arrondissement in Paris.

“An old neighbourhood, which has retained more of its historic character than most of Singapore. The growth of high quality café and retail offering in recent years has helped lift values. Development opportunities are available but this is a sensitive urban area which will require skilful interventions,” noted Knight Frank.

“The relentless march of gentrification and upscaling of neighbourhoods in inner urban areas in the world’s leading cities, offers opportunities to residents, who can access more affordable alternatives close to CBDs, but most obviously for developers and investors betting on the next new Shoreditch or Meat Packing District in which to invest,” the report added.

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