What is the first thing that comes into your mind when you hear Geylang? To some, it may be the finger-licking delicacies, pre-war shophouses, red-light district or mid-rise properties sprouting amongst the landed estate. Noma, a uniquely designed freehold apartment at the junction of Guillemard Road & Geylang Lorong 28 may well be the next highly sought after by savvy investors! Why?
Many may not be aware, but residential properties around Geylang are one of the top choices for expatriates due to the rich history and city fringe location. Rental yield in the vicinity can be higher than even prime district as the entry-level is much lower! Noma is another pristine project by boutique developer Macly Group. Macly Group’s involvement in the vicinity includes projects like Guillemard Edge, Cassia Edge, 33 Residences to upscale properties like Neu At Newton and The Iveria. A unit at Guillemard edge transacted at S$598,000 and rented out at S$2,400 gave the landlord a gross rental yield of 4.8%!
The Government announced an initiative in 2015 to re-zone Geylang. The proposed change aimed at stemming new residential developments from being built in the areas bounded by Geylang Road, Lorong 22 Geylang, Guillemard Road and Lorong 4 Geylang. The reclassification only permits commercial/institution to be developed instead. Experts see such a move to raise the value of the existing and future condo values. Bigger projects like Sims Urban Oasis and upcoming Penrose are seeing positive demand arising from the changes.
Noma is a short walk to two MRT stations – Aljunied MRT Station (EW Line) & Dakota MRT Station (Circle Line). Commuting to Central Business District (CBD), Paya Lebar Regional Centre or Orchard is a short ride away. The ease of connectivity to public transport and the abundance of amenities are the biggest draw why properties around Geylang are one of the top choices for expatriates.
Daily necessities & dining options are aplenty around Noma. From wet marketing at Kallang Estate, mouth-watering food at Old Airport Road Food Centre and surrounding vicinities to malls like Kallang Wave Mall, PLQ Mall, Paya Lebar Square, Singpost Centre and Kinex, there are too many choices!
Noma is within 3 minutes walk to Kong Hwa School and short travelling to Broadrick Secondary, Geylang Methodist School, Tanjong Katong Girls’ School and International varsities like James Cook University, Nexus International, Canadian International and One World International. These are just tip of the iceberg why properties in Geylang are savvy investors top choice and why Noma will likely sell out very fast.