Bedok Reservoir deaths likely to affect take-up in short term
Bedok Reservoir is currently being marketed by property developers as a waterfront destination in Singapore.
The area includes a number of residential projects such as Waterfront Waves, Waterfront Isle, Waterfront Gold and Waterfront Key.
However, the recent series of horrific deaths there has raised public concern and speculation that could affect future launches.
Some experts believe the deaths at Bedok Reservoir may negatively impact take-up rates, but only in the short-term.
"Death has a certain stigma attached to it. However, Singaporeans are a pragmatic lot. They may keep away in the short-term but in the long-term, economic fundamentals will rule. All the developers have to do is to throw in some carrots like additional discounts and people will come back," said Getty Goh, founder of Ascendant Assets Pte Ltd.
"A good example is how residential developments have sprung up in places that used to be cemeteries. For example, in the past people had stigma about staying in Bishan. However, Bishan is now a sought after location and the younger generation are less particular about the history of the place."
He added that property prices in the area are unlikely to be affected.
"I really have no idea how suicide cases will affect property prices as there are no studies done on this aspect before. However, if we take things in context, accidents and deaths do occur from time to time. A case in point would be some of the deaths that have occurred along the Singapore River but it has not affected prices," Goh said.
Meanwhile, some residents in the area said they will avoid the reservoir altogether.
"It has deterred me from going to the park because of the series of deaths. You do not know what or who is lurking there," said Roi Miller, an administrative officer.
"Maybe the authorities should put more police patrols around the area and look out for suspicious persons hanging around."
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