Defining the CCR, RCR and OCR in Singapore
Broadly, the Urban Redevelopment Authority has divided Singapore into three main regions, which the URA calls "market segments". These regions are: Core Central Region (CCR), Rest of Central Region (RCR) and the Outside Central Region (OCR). The boundaries of these regions are anything but clear cut, so here's a map that could help:
Here's the rundown of the three regions in Singapore, in case you want to know more:
Core Central Region (CCR)
The Core Central Region, also known as the CCR, includes the traditional prime areas of Singapore (i.e. postal districts 9, 10 and 11), the Downtown Core (including parts of Bugis south of Ophir Road), as well as Sentosa. This is where most high-end, luxury properties in Singapore can be found. Many of the private residential properties in the CCR are also freehold in tenure.
9Orchard, Somerset, River Valley
10Tanglin, Bukit Timah, Holland
11Newton, Novena, Dunearn, Watten
1 (Part)Boat Quay, Raffles Place, Marina Downtown, Suntec City
2 (Part)Shenton Way, Tanjong Pagar
6 (Part)City Hall
What's not part of the CCR: Outram, Clarke Quay, Chinatown, Bencoolen and anything north of Ophir Road
Our take on the CCR: Even though the CCR might be made up mostly of high-end properties, there can still be a few value finds. Check out these properties available for sale in prime districts 9, 10 and 11 and you'll know what we're talking about!
Rest of Central Region (RCR)
The Rest of Central Region, also known as the RCR, is sandwiched between the CCR and the Outside Central Region (OCR). The RCR is regarded as the intermediate, or mid-tier, region in terms of pricing, between the mass market condos in the OCR region and the high-value properties in the CCR. However, as our Property Market Outlook shows, the gap is closing between RCR and CCR properties, particularly in districts where urban development, renewal and infrastructure growth has taken place.
1 (Part)Marina South
3Queenstown, Alexandra, Tiong Bahru
4 (Part)Harbourfront, Keppel, Telok Blangah
5 (Part)Buona Vista, Dover, Pasir Panjang
6 (Part)Fort Canning
8Little India, Farrer Park
12Balestier, Whampoa, Toa Payoh
Boon Keng, Bendemeer, Kampong Bugis
13 (Part)Potong Pasir, Bidadari, MacPherson, Upper Aljunied
14 (Part)Geylang, Dakota, Paya Lebar Central
Eunos, Ubi, Aljunied
15 (Part)Tanjong Rhu, Amber, Meyer, Katong
Dunman, Joo Chiat, Marine Parade
20 (Part)Bishan, Thomson
What's not part of the RCR: Upper Serangoon, How Sun, Ang Mo Kio, Clementi, Telok Kurau, Kembangan
Our take on the RCR: The RCR benefits from the confluence of demand from various buyer groups, from investors to owner-occupiers, and from young families to empty nesters. Rents in the RCR region have also outperformed the CCR and OCR in recent quarters.
Outside Central Region (OCR)
The Outside Central Region (RCR) is about three-quarters the size of Singapore, and basically refers to areas where mass-market condos at the lower range of price points are located, including Executive Condominiums (ECs). You could say that these places are "suburbs", but this would give a false impression of remoteness.
Here's the thing: with excellent MRT connectivity around the island, the OCR is a very viable and affordable housing option even for those who work in the city, with resale condo prices as low as $800 per square foot (psf). The government also has plans to bring high-value jobs to the OCR, in the form of Jurong Second CBD, Punggol Digital District and Woodlands Regional Centre.
Private residential projects in the OCR are also typically larger, with condos usually clocking in at 300 units or above, barring some boutique developments that are typically located among landed property enclaves.
OCR properties are also mostly 99-year leasehold.
5 (Part)Clementi, West Coast
14 (Part)Kembangan, Kaki Bukit
15 (Part)Telok Kurau, Siglap, Frankel
16Bedok, Upper East Coast, Bayshore
Tanah Merah, Upper Changi
17Flora Drive, Loyang, Changi
18Tampines, Pasir Ris
19Punggol, Sengkang, Hougang, Kovan
Serangoon, Lor Ah Soo
20 (Part)Ang Mo Kio
22Jurong East, Jurong West, Boon Lay
23Hillview, Bukit Panjang, Bukit Batok, Choa Chu Kang
26Lentor, Springleaf, Mandai
28Seletar, Seletar Hill, Sengkang West
Our take on the OCR: Given the stiff competition between projects across various OCR locations, developers are pulling out all the stops to lure buyers. Attractive pricing is only one thing; given the larger size and higher unit counts of OCR projects, developers can afford to include show-stopping facilities, making the projects particularly appealing to young couples and millennial families.
According to recent transaction data from URA, the most popular OCR districts are 5, 17 and 19, thanks to a succession of newly launched condominiums in these areas.
(Article Source: Propertyguru)