This article was originally on Get.com at: Tanjong Pagar Property Guide: What's To Love And Can You Afford Living Here?
Tanjong Pagar properties have been getting more spotlight in Singapore in recent years. Most people should know that Tanjong Pagar is a historic district which is part of the Central Business District (CBD) in Singapore. Although few traces of the then-ghetto remain now, the former Tanjong Pagar Railway Station has been gazetted as one of Singapore's national monuments since 2011. Despite the historic notions attached to Tanjong Pagar, it is now a modern precinct with a multitude of quaint hideouts anyone will appreciate.
In this Tanjong Pagar Property Guide, which is part of the 2016 Property and Lifestyle Guide series by GET.com, we will run you through the highlights of the Tanjong Pagar and Anson Road areas, show you how much properties cost in District 2 and the cool things you can expect from living in this district.
District 2 properties: An overview
According to Urban Redevelopment Authority, to be considered under District 2, the first 2 digits of the 6-digit postal code must be 07 or 08. It includes general locations like Anson and Tanjong Pagar, where Singapore's CBD is situated, and the CBD is where our core financial and commercial districts are located.
The majority of Singaporeans reside in public housing buildings better known as HDB flats while the privileged ones stay in private properties such as condominiums and landed housing.
Did you know that a 4-room HDB flat in the world-famous Pinnacle@Duxton was sold for a whopping $990,000 recently, even though it is considered public housing? How fancy!
There is a mix of HDB flats and private condominiums in the Tanjong Pagar precinct although the majority of the HDB flats in the area are older ones that are way less fancy schmancy compared to the jewel of all HDB flats the Pinnacle @ Duxton.
Nonetheless, prices of the HDB flats and private properties in the Tanjong Pagar area are on the high side since they're sitting on prime land in landscarce Singapore. Also, there are more private condominiums than HDB flats here. Some look so opulent, too!
The CBD area is a haven for the rich, and it's popular among expatriates who prize living within close proximity to their workplace in the thriving financial district. Tanjong Pagar has pretty much everything you expect in a town you can call home with great transportation connectivity, alluring vibes and a great deal of restaurants, eateries, cafes, retail malls and entertainment options, just to name a few!
Pros and Cons of living in Tanjong Pagar
- Convenient transportation networks
- Great views of the city skyline
- Amazing vibes
- A plethora of food, entertainment and shopping options
- Historical significance
- High property prices and rents
- Only a couple of schools within the area
Amenities in Tanjong Pagar and Anson Road
When it comes to vibrant city living and a whirlpool of metropolitan living, District 2 delivers, although it lacks educational institutions. Cantonment Primary School and a few other preschools are the only options you have if you're thinking about your child's education!
Transportation is convenient and highly accessible given the proximity of major roads, the massive number of bus services and nearby MRT stations including the likes of Tanjong Pagar, Raffles Place, Telok Ayer, Downtown, Outram Park, Chinatown and Marina Bay.
Major shopping destinations in the area include Tanjong Pagar Plaza, International Plaza, 100 AM Shopping Mall, Icon Village and Amara Shopping Centre. Malls like Chinatown Point, OG Building, China Square Central are also very close! If these aren't enough to satisfy the shopaholic in you, Shenton Way and Orchard Road are easily accessible.
You'll never run out of food options in the Tanjong Pagar enclave. There are so many eateries, cafes and restaurants littered along Anson Road, Gopeng Street, Tanjong Pagar Road, Tras Street and Duxton Hill. To say that Tras Street is a foodie's haven wouldn't even be considered an exaggeration in any way.
For those who love their hawker fare, visit Amoy Street Food Centre, Lau Pa Sat and Maxwell Road Food Centre. The famous Outram Park Ya Hua Bak Kut Teh is just round the corner, too perfect for your late night peppery broth fix!
Green spaces may be somewhat lacking if you're the kind of person who loves nature. Telok Ayer Park, Telok Ayer Green and Ann Siang Hill Park are the green areas located in the Tanjong Pagar precinct.
Cool chill out spots in Tanjong Pagar and Anson
Take your time to explore the heritage streets of the Tanjong Pagar neighbourhood scattered with quaint boutiques, charming galleries, hipster cafes and lounge pubs. There's just so much to take in in Tanjong Pagar!
A slew of chic bars and restaurants nestled in Ann Siang Hill. One particular interesting barcumbistro that I've been to is Ding Dong. It serves fantastic localinspired and Southeast Asian inspired cocktails and food that are super intriguing and delicious!
My favourite one has got to be their Tom Yum cocktail aptly named Golden Mile. P.S. Cafe has an outlet at Ann Siang Hill, too!
Sitting on Neil Road is the Baba House, a traditional Peranakan prewar terrace house that showcases the colourful Peranakan history, heritage and architecture. It allows visitors to experience more intimately how intricate Peranakan homes functioned and looked in the 1920s. I can only imagine how enriching the experience will be for us to learn more about the Peranakan culture! Do note that visits and tours are by appointment only.
It comes as no surprise that Tanjong Pagar is colloquially known as Little Korea given the Korean influences and the myriad of Korean restaurants and eateries that have popped up in the area.
If you fancy fried chicken, you have to try Kko Kko Nara and Chicken Up as their doublefried chicken is extremely crispy and flavourful without being greasy! Consider KFC a thing of the past. You can get your Soju and Kimchi from the Korean mart along Tras Street, too.
The Red Dot Design Museum is a spot that all design fanatics have to visit. Since July 2006, it hosts a creative platform MAAD (Market of Artists And Designers) for enterprising creatives to showcase their talents and works one Friday night of each month.
Admission is free during the monthly event, by the way.
Kid-friendly places in Tanjong Pagar and Anson
Although District 2 has so much to offer, it isn't the most kid-friendly neighbourhood, honestly. However, Kreta Ayer Community Centre and Tanjong Pagar Community Club are just around the corner.
If you don't already know, the 50th-storey Skybridge and Sky Garden at Pinnacle@Duxton is home to the longest sky gardens in the world and is open to public admission albeit at a chargeable fee of $5 per entry.
I reckon the $5 is worth the expansive view that you'll get to enjoy! Kids are advised to visit only in the company of adults, of course.
Suitable for people of ages is the Pioneers Trail at Telok Ayer Green and Ann Siang Hill Park.
This easy-to-meander 0.6km trail showcases the interesting history of Ann Siang Hill through the sculptures coupled with historical information on the trade and way of life in early Singapore.
You'll get to discover the architecture and the old and restored shophouses that once housed several Chinese clans and associations. Look out for the multitude of spice tree species, too!
How much do properties cost in Tanjong Pagar?
We did some research on the minimum and maximum per square foot (PSF) prices of private properties, as well as the median price of a resale 4-room flat in this district.
Minimum PSF: $630 - Spottiswoode Park
Maximum PSF: $3,244 - Wallich Residence At Tanjong Pagar (Recently renamed from Clermont Residence)
Median price of a resale 4-room flat in the Central region in Q2 2015: $855,000
*PSF figures for apartment and condominium transactions between Oct 2012 - Oct 2015 are pulled from URA. *Median prices of resale flat(s) retrieved from CNA.
If you're buying an HDB flat with a loan from the bank, your downpayment must be 20 per cent of purchase price or market valuation, whichever is lower. When borrowing 80 per cent from the bank, your loan tenure cannot exceed 25 years; if your loan tenure is above 25 years (but not more than 30 years), note that you can only borrow 60 per cent from the bank! For both cases, the sum of the loan tenure and age of borrower at the time of applying for the loan does not extend beyond retirement age of 65 years.
Similarly, if you're buying a private property with a loan from the bank, your downpayment must be 20 per cent of purchase price or market valuation, whichever is lower. When borrowing 80 per cent from the bank, your loan tenure cannot exceed 30 years; if your loan tenure exceeds 30 years (up to a maximum of 35 years), note that you can only borrow 60 per cent from the bank! For both cases, the sum of the loan tenure and age of borrower at the time of applying for the loan does not extend beyond retirement age of 65 years.
Beautiful homes in District 2
Wallich Residence is where luxury breaches into new heights. Standing at 290 metres tall on Tanjong Pagar Centre, it is set to be the newest, tallest building in Singapore by 2017.
76 Shenton is one of the loftiest residential developments in Singapore's CBD area. It offers stunning views of the sea and the Singapore city skyline.
The Pinnacle@Duxton are Singapore's loftiest HDB flats, boasting the world's two longest sky gardens of 500 metres each, on both the 26th and 50th floor.
Useful tips for District 2
Tanjong Pagar is well-known for its rows upon rows of shophouses as well as the highly sought-after Pinnacle@Duxton HDB blocks when it comes to residential properties in the district. Surrounding districts are District 1 (see our Marina Bay property guide) and District 3 (see our Queenstown and Tiong Bahru property guide).
If you are on the hunt for a property, you can use GET.com's Home Loan Genius tool to compare home loans (new or refinance loans) from all the banks in Singapore.
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