More buyers snap up Geylang units priced above median market value

They think the area has high potential.

Units above the computer-generated market value are seeing greater popularity in Geylang, amid reports of the area’s rezoning.

According to a media release by SRX, Geylang posted the highest median TOX for HDB towns having more than 10 resale transactions with TOX in January 2015.

Geylang has the highest median TOX of $8,400, followed by $8,000 in Bukit Merah and Kallang/Whampoa.

"This is not the first month that Geylang has posted a positive median T-O-X," said Jeremy Lee, chief technology officer for SRX Property. "Buyers and investors are eyeing Geylang as an area with long-term potential. URA's recent announcement that it is proposing to rezone parts of Geylang confirms this positive sentiment for the area."