BUYERS SHOULD CONSIDER THE “BIG PICTURE”
SRX analysis shows there is a negative impact on the rental and resale price of HDB properties that are less than 250m away from a columbarium.
The negative impact of being near a columbarium disappears if the property is further than 250m away, said its spokesman.
But there are exceptions such as property at Sin Min Avenue situated next to Bright Hill Crematorium and Columbarium, because of its proximity to popular school Ai Tong Primary.
For example, the per square foot (psf) price is $495 for flats 250 to 500m from the columbarium while that of the flats 500m to 1km away is $476.
The spokesman said: “There may be a psychological distance threshold as to how near a columbarium should be.
“It’s (a case of) out of sight, it’s also out of mind.”
Buut Mr Fendy Lee, group director of property firm Huttons Asia, thinks buyers should look at the “bigger picture”.
He said: “Besides the columbarium, (Fernvale Lea) is also near the new Seletar Mall and the upcoming Sengkang General and Community Hospitals.
The nearby Jalan Kayu area has also been identified as an identity node in the Urban Redevelopment Authority’s master plan, he added. This means that the Government will improve access and visitor experience to the area.
“Imagine living near a place like Holland Village in the future. The area has potential. You cannot allow one bad point to cover all the good points,” he added.