562 Serangoon Road: A Comprehensive Guide to the Iconic Singaporean Address

History and Significance

Situated in the vibrant Geylang district, 562 Serangoon Road holds a rich history that dates back to the early 1900s. Originally a residential address, the building was transformed into a commercial property in the post-World War II era.

Throughout the decades, 562 Serangoon Road has witnessed the evolution of Geylang from a thriving entertainment and red-light district to a vibrant cultural and culinary hub. Today, the address is synonymous with the district's famous food scene, particularly its delectable Peranakan cuisine.

Location and Accessibility

Location:

• Situated in the heart of Geylang
• Bordered by Sims Avenue and Guillemard Road
• Short distance from Paya Lebar MRT station

Accessibility:

• Excellent connectivity via MRT and bus services
• Easily accessible by car with ample parking spaces available

Building Features and Amenities

562 Serangoon Road is a four-story building that offers a range of commercial and residential units.

Commercial Units:

• Ground floor retail units with high visibility
• Mezzanine level with office and retail spaces
• Second floor with office units

Residential Units:

• Third and fourth floors feature residential apartments
• Range of unit sizes from studios to three-bedroom apartments
• Modern amenities such as air conditioning, built-in appliances, and balconies

Current Usage and Tenancy

562 Serangoon Road is currently home to a diverse mix of tenants, including:

• Restaurants specializing in Peranakan, Chinese, and other cuisines
• Retail shops selling a variety of products
• Office spaces housing businesses from various industries

The building has a high occupancy rate, with many tenants occupying multiple units.

Rental and Sale Prices

Rental Prices:

• Commercial units: S$10 to S$20 per square foot per month
• Residential units: S$2,500 to S$4,500 per month

Sale Prices:

• Commercial units: S$1 million to S$2 million
• Residential units: S$500,000 to S$1 million

Market Trends and Future Outlook

The real estate market in Geylang has experienced steady growth in recent years, driven by the district's increasing popularity and accessibility. 562 Serangoon Road is well-positioned to benefit from this trend.

The building's mixed-use nature, convenient location, and established tenancy make it an attractive investment for both commercial and residential buyers. The future outlook for 562 Serangoon Road remains positive, with strong demand for both rental and sale units.

Investment Opportunities

562 Serangoon Road offers several investment opportunities for both local and international investors.

Residential Units:

• High rental yield: Studios and one-bedroom apartments can generate rental yields of up to 5%.
• Capital appreciation: Property values in Geylang have appreciated steadily in recent years, providing potential for capital gains.

Commercial Units:

• Strong rental demand: Commercial units are in high demand due to the building's prime location and high foot traffic.
• Stabilized income: Long-term lease agreements with established tenants provide a stable income stream.

Strategies for Maximizing Returns:

• Tenant diversification: Leasing units to tenants from various industries reduces vacancy risks.
• Value-added improvements: Upgrading units with modern amenities can increase rental value.
• Professional management: Hiring a reputable property management company ensures efficient operations and optimal returns.

Stories, Lessons, and Tips

Stories and Lessons

Story 1: A young couple purchased a studio apartment in 562 Serangoon Road as their first home. They rented it out for several years, generating a stable income while building equity. When they were ready to move into a larger space, they were able to sell the apartment for a substantial profit.

• Lesson: Real estate investment can provide both rental income and long-term capital appreciation.

Story 2: A restaurateur opened a Peranakan restaurant in 562 Serangoon Road, taking advantage of the building's high foot traffic and established culinary reputation. Within a few years, the restaurant became a popular destination, generating significant revenue.

• Lesson: Location and market research are crucial for the success of any business venture.

Story 3: A property investor purchased several commercial units in 562 Serangoon Road. He leased the units to reputable tenants, creating a diversified income portfolio. Over time, the rental income and property values increased, providing him with a substantial return on investment.

• Lesson: Diversification and long-term investment strategies can lead to significant wealth creation.

Tips and Tricks

Tips for Tenants:

• Negotiate favorable terms: Don't be afraid to negotiate with landlords on rent and lease agreements.
• Maintain the property: Keep the unit clean and well-maintained to avoid costly repairs.
• Build a relationship with the landlord: Open communication with the landlord can help resolve issues quickly and maintain a positive relationship.

Tips for Landlords:

• Screen tenants carefully: Conduct thorough background checks to ensure responsible and reliable occupants.
• Maintain the property: Invest in regular repairs and maintenance to keep the building in good condition.
• Offer competitive rental rates: Research the market and offer competitive rates to attract and retain tenants.

Call to Action

562 Serangoon Road is an exceptional investment opportunity that offers high returns, strong demand, and a convenient location. Whether you're looking for a residential or commercial unit, this iconic address has something to offer.

• Contact a reputable real estate agent today to schedule a viewing and discuss your investment options.
• Don't miss out on this opportunity to own a piece of Geylang's thriving real estate market.

Tables

Table 1: Rental Statistics

Table 2: Sale Price Statistics

Table 3: Investment Returns