With much speculation, it may be imminent for the future of new condo development in Singapore. With the rapidly growing population and number of expatriates moving to Singapore, there’s becoming a need for newer condo building developments like the Amber 45 building situated at 45 Amber Road when it is near to Changi Airport and around the entire city. While Singapore is already a densely populated city state, many people are open to the idea of living underground. Newly built condo developments in underground will be a new way for the future Singapore to keep up with the demands of its ever-growing population that seeks to buy newly built condo properties.
Well in theory, the population is set to grow to 7.1 million people nearing the end of the year in 2029. With such a projection, there is a large underground urbanite urbanism movement happening around Singapore that would love to see new developments underway for condo buildings underground. As a popular city state in the region, many people are beginning to flock into Singapore because of its newly developed luxury real estates. There are currently nearly 6 million people that lives across the entire city state.
Singapore may add up to 133 miles or more by underground development and with the size of the island being only 277 square miles, the need to add more mileage and building underground is becoming more apparent as we look towards the future of Singapore real estate market. The government of Singapore is becoming more and more ambitious for economic growth in Singapore as they figure out ways to stimulate more growth and keep it going around Singapore. The central government visualizes the city’s population to increase at a rapidly growing rate of 4 million people by the year 2025, which is not so far from now. With an influx of people looking for newly built condo developments in the area, maybe this is the best alternative to getting the best newly developed condo developments in Singapore by going underground.
Of course, this isn’t the first visualization for such a bold approach to build new condo housing developments underground like Amber 45, but the Singapore government believes it will work best for Singapore, especially with the expected rise in the population looking for private condo units. Due to the fact that Singapore has already started to invest nearly $200 million in underground technology R&D, the Singapore government has improved the land laws so that the residents of own property can only own underground land space limited to their basements. The law has made it advantageous for the purpose of new condo developments underground. This is so in the event a new condo development has to begin underground it will in no way having issues with people that already own the land above it.
For the government to go underground and build deeper to keep up with the demand for new development housing market, a comprehensive housing plan firmly needs to be set into place. This will make it easier to comprehend the need to prioritize underground condo developments due to the need for space. In every aspect of infrastructure, a master plan for underground building should also help to show how money will be spent on protecting Singapore’s infrastructure as well. The Infrastructure of Singapore will need a drastic overhaul in its railway system, utilities, increase the integrity of infrastructure and a whole lot more underground as well above ground, if the decision to go underground is a more firm decision nearing 2029.
There are a few contributing factors and being situated so conveniently next to east coast park and the beautiful beach will be the most critical factor among all as the sea water level will be increasing every year due to the global climate changes which is unavoidable for us.