Singapore HDB Median Resale Prices Chart By Town & Flat Type (1st Quarter 2021) - HDB

 

Median Resale Prices For Registered Resale Applications

The median price is the fiftieth percentile amount of HDB resale flat purchases. This means that half of the flats transacted were purchased at amounts above the median price, and half of the flats were purchased at amounts below the median price. These figures are based on resale flat transactions recorded for the quarter, and sorted by town and flat type.

• 3-Room, 4-Room, 5-Room & Executive

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• 3-Room HDB

Top 5 Town for 3-Room Median Resale Price

1. Central - S$420,000.00
2. Punggol - S$379,000.00
3. Sengkang - S$368,000.00
4. Queenstown - S$360,000.00
5. Serangoon - S$350,000.00

• 4-Room HDB

Top 5 Town for 4-Room Median Resale Price

1. Central - S$910,000.00
2. Queenstown - S$790,000.00
3. Bukit Merah - S$728,400.00
4. Toa Payoh - S$603,500.00
5. Kallang / Whampoa - S$577,500.00

• 5-Room HDB

Top 5 Town for 5-Room Median Resale Price

1. Clementi - S$890,000.00
2. Bukit Merah - S$821,500.00
3. Queenstown - S$820,000.00
4. Toa Payoh - S$808,000.00
5. Bishan - S$757,500.00

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• Executive HDB

Top 5 Town for Executive Median Resale Price

1. Bedok - S$743,000.00
2. Serangoon - S$731,500.00
3. Hougang - S$689,600.00
4. Tampines - S$689,000.00
5. Bukit Panjang - S$680,000.00

Legend

Here are the notes and legends for the symbols used in the following table:

(-) indicates no resale transactions in the quarter

Asterisks (" * ") refer to cases where there are less than 20 resale transactions in the quarter for the particular town and flat type. The median prices of these cases are not shown as they may not be representative

The data excluded transactions that may not accurately reflect the market price, i.e. resale of part shares, resale between related parties, cases under the Conversion Scheme, resale of terrace flats, and converted flats

The figures are rounded to the nearest hundred dollars

Source: HDB (30 Jun 2021)

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Punggol and Sengkang home to the most HDB resale transactions in 2021 to-date - EdgeProp

In January and February this year, 447 flats were transacted in Sengkang, this is the highest for a HDB town (Photo: Samuel Isaac Chua/The Edge Singapore)

 

SINGAPORE (EDGEPROP) - HDB resale flats in mature estates that are near top primary schools and shopping malls have been traditionally more popular. However, newer flats in non-mature estates like Sengkang and Punggol are also gaining popularity.

Sengkang and Punggol are two of the most popular estates based on the number of HDB resale flats sold in January and February this year, according to data from data.gov.sg. In the two months, 447 flats were transacted in Sengkang while 446 flats were transacted in Punggol. They are followed by Tampines and Bedok, which saw 343 and 268 flats, respectively, changing hands in the two months.

Punggol and Sengkang also saw the largest increase in resale transactions in 2020 as compared to 2011, according to research done by Huttons Asia. Punggol experienced a 181.5% increase, while Sengkang achieved a 60.5% increase. They were followed by Bukit Panjang, which saw 34.5% more flats being transacted in 2020 compared to nine years ago, and Clementi, which saw a 20.1% increase.

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Mark Yip, CEO of Huttons Asia, says: “One reason for the increase in transactions in places like Punggol, Sengkang and Bukit Panjang, is that there are many BTO (Build-To-Order) projects in these towns and many of them have recently achieved the five-year minimum occupation period.” He adds: “Newer flats are popular and fetch higher prices because they are deemed to be as good as new.” (See another HDB BTO news)

Across the board, there are more resale transactions because there are more BTO flats achieving minimum occupancy period (MOP). In 2020, there were 24,500 flats that achieved MOP. This year, there will be 25,530 flats reaching MOP. This is because the government increased the supply of BTO flats from 2011 to 2014, says Nicholas Mak, head of research at ERA Realty Network.

“Punggol and Sengkang are the two most popular towns as there are many relatively new flats under 10 years old and young families residing there,” says Mak. These areas also offer outdoor recreational options for exercise, public transportation connectivity, and retail malls at the town centre, he adds.

In 2020, the top five towns where flats between five and nine years were sold were Sengkang (777 flats), Yishun (562 flats), Punggol (550 flats), Bukit Panjang (495 flats) and Tampines (276 flats), while in the first two months of 2021, the top five towns where flats between five and nine years were sold were Punggol (338 flats), Sengkang (211 flats), Bukit Panjang (91 flats), Yishun (82 flats) and Queenstown (60 flats).

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Rarer flat types also fetch higher prices, such as maisonettes and executive flats, says Christine Sun, senior vice president of research and analytics at OrangeTee & Tie.

“For the larger flats like five-room flats, the HDB has either reduced the supply or stopped building them. As such, buyers who prefer larger flats have turned to the resale market,” says Huttons’ Yip. He believes that the transactions of such flats grew around 10% y-o-y in 2020, presumably due to the need for more space as work-from-home (WFH) arrangements gathered pace and more empty-nesters moved to a smaller dwelling unit.

As for million-dollar HDB flats, Yip believes that they command such prices because of their location, size and design. “Million-dollar HDB flat transactions are a minority, making up less than 1% of total transactions in a year. Some of these are in the city like The Pinnacle at Duxton, larger flats like five-room or EM (executive maisonette) and DBSS (Design, Build and Sell Scheme) flats or terraces,” he adds.

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Resale home-buyer profile

More cash-rich buyers are considering HDB resale flats. This group includes downgraders from the private market, who could be doing so due to a softer employment market, says OrangeTee & Tie’s Sun.

At the same time, there are also empty-nesters who are older and want to free up capital to help their children buy properties, says Alan Cheong, executive director at Savills Singapore. Citing statistics that the population of Singapore residents aged between 50 and 69 who stay in private properties have almost tripled in the past 20 years, Cheong believes that this is a trend that could continue for the next 10 years.

Some HDB resale buyers are also ex-en bloc owners who have collected a large sum of money and can pay for a HDB resale flat in full. They can then use the balance cash for other forms of investment or retirement, Sun says.

These cash-rich buyers have the financial means to pay more for HDB resale flats that they like, especially the bigger, well-

located units that come with good views, says Sun. “Some also don’t mind buying slightly older but cheaper HDB resale flats, as long as the balance lease can last them until the end of their life,” she adds.

Couples who are not able to wait four to five years for BTO flats to complete will also consider buying from the resale market, says Sun. Huttons’ Yip adds that construction delays caused by Covid-19 have added to the uncertainty, prompting couples to consider resale flats.

Read more: BTO or resale flat?

Future developments

Future developments in a particular town also attract home buyers, says OrangeTee & Tie’s Sun. “The extensive masterplan to turn Punggol into the next Digital District played a pivotal role in propping up flat prices in Punggol and Sengkang, despite the growing supply of flats in these two estates,” says Sun. Under the URA Master Plan, the Singapore Institute of Technology campus and JTC’s Business Park spaces will be built to create Singapore’s first smart district, which will house key growth industries for the digital economy.

The Punggol Digital District will be Singapore’s first smart district, which will house key growth industries for the digital economy (Photo: Albert Chua/The Edge Singapore)

Over the next few years, Punggol will see a new university campus, market village, heritage trail, offices, logistic hub and amenities being established, which have enticed buyers to Punggol and Sengkang.

Employment hubs are expected to expand further in Changi, Tampines North and Pasir Ris, and more housing units and recreational spaces will be built there.

Increasing prices

Prices for resale flats rose 5% in 2020, while the number of transactions increased 4.4%, according to HDB. This trend is likely to continue this year.

OrangeTee & Tie’s Sun says that as the global economic outlook remains favourable this year, the worst of the pandemic could be over and key economies may fare better than last year. “Moreover, there is still ample liquidity circulating in the system as investment funds have reallocated a massive amount of capital from financial markets to real estate properties,” she adds.

“With more flats reaching MOP, we may expect more transactions this year. Therefore, we are optimistic that the HDB resale volume may rise further by up to 5% this year, to around 24,000 to 26,000 units. Prices of resale flats may continue to rise by 2% to 5% for the whole of 2021,” she adds.

Lee Sze Teck, director of research at Huttons Asia, says: “Based on data from the authorities, an estimated 21,520 three-room and larger flats will reach their MOP in 2021. Many of these flats are in Choa Chu Kang, Punggol, Yishun, Sengkang and Kallang/Whampoa.” He predicts transaction volume to be between 23,000 and 24,000 flats in 2021.

“These newer flats have made up a larger portion of the resale transactions and contributed to the increase in prices,” says Huttons’ Yip.

As to whether the government will introduce curbs on the pricing of HDB resale flats, Sun says that tightening the mortgage servicing ratio and the loan-to-value ratio could be two ways to do so.

Huttons’ Lee also says that the government could tweak the financing portion to dampen price growth. For instance, the cash component can be increased or the amount of CPF funds utilised can be reduced. He believes that transaction volume will be between 23,000 and 24,000 flats, and projects that HDB resale prices will grow between 2% and 4%, in 2021.

By Valerie Kor / EdgeProp Singapore | March 26, 2021 6:00 AM SGT

Source: EdgeProp

HDB launches two EC sites in Sengkang, Tampines - by The Straits Times

The Fernvale land parcel has a site area of 17,129.9 sq m, while the Tampines site is larger at 23,799.2 sq m.PHOTOS: HDB

Both sites have 99-year lease period, could potentially yield up to 1,100 residential units

Two new sites - in Sengkang and Tampines - are available for executive condominium (EC) projects.

The Housing Board (HDB) has launched the first plot of land in Fernvale Lane in Sengkang for sale by public tender, to interested developers.

The second site in Tampines Street 62 has also been released for application, but under the reserve list. This means that it will be put up for tender only if developers are interested.

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HDB said yesterday that both sites could potentially yield up to 1,100 residential units.

The Fernvale Lane site is 17,129.9 sq m, with a maximum permissible gross floor area of 47,964 sq m and a maximum building height of 56m above mean sea level. It is estimated to yield about 480 homes.

The Tampines site is larger, at 23,799.2 sq m, with a maximum permissible gross floor area of 59,498 sq m and a maximum building height of 64m above mean sea level. If there is enough interest from developers to proceed, home buyers can expect 595 units to be available when the project is completed.

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Both sites have a lease period of 99 years each.

The tender for the Fernvale Lane site will close at noon on March 3 next year.

Executive condominiums are public-private housing hybrids built by private developers and typically come with amenities found in private condominiums such as swimming pools and multi-purpose rooms.

The income ceiling for Singaporean households to buy EC units is $16,000, up from $14,000 following a policy change in September.

Although the Fernvale Lane site is not located near any MRT station, it should still prove popular among developers, said ERA Realty head of research and consultancy Nicholas Mak.

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This is because it is near retail amenities such as Greenwich V shopping mall.

Ms Tricia Song, head of research for Singapore at Colliers International, said she expects between seven and nine bids for the Fernvale Lane site, with the top bid possibly coming in at about $260 million, or $500 per sq ft per plot ratio.

The projected end-selling price could then be between $950 and $1,000 per sq ft.

Ms Christine Sun, head of research at OrangeTee & Tie, said the project may attract HDB upgraders living in Sengkang and Punggol, as more than 10,000 HDB flats have reached their five-year minimum occupation period in both areas this year.

"Some HDB owners will likely hope to upgrade to private housing, and this Fernvale EC site may help to meet the upgrading aspirations of Singaporeans in these two areas," she said.

At least three ECs are expected to launch next year: Ola in Anchorvale Crescent, Parc Canberra in Canberra Link and a development in Tampines Avenue 10.

Ms Sun added that developers are likely to closely watch sales for the Tampines Avenue 10 project and overall market demand, before deciding whether to put in an application of interest for the new Tampines site.

PUBLISHED

DEC 31, 2019, 5:00 AM SGT

Michelle Ng

Source: The Straits Times

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New private home sales rebound in Nov - by The Straits Times

Sengkang Grand Residences, a 99-year leasehold condo next to Buangkok MRT station, sold 235 of the 280 units offered at its launch last month.PHOTO: CDL

Sales of new private homes picked up strongly last month despite the start of the year-end holiday period and amid a property glut, data showed yesterday.

Developers sold 1,147 units last month - excluding executive condominiums (ECs) - 23.2 per cent more than in October but 4.5 per cent fewer than in November last year.

If ECs were included, 1,168 units were sold last month, a 21.9 per cent increase from October but 3 per cent lower than a year ago, the Urban Redevelopment Authority (URA) data noted.

Developers launched 740 private homes for sale last month, down 17 per cent from October and 44.9 per cent fewer than the 1,342 in November last year. There were no ECs launched last month.

Last month's take-up was led by projects in suburban areas, known as outside central region, with 608 sales, followed by 351 in the city fringes or rest of central region, and 188 in prime areas or core central region.

The best-seller was the 680-unit Sengkang Grand Residences, which launched last month. The 99-year leasehold condo next to Buangkok MRT station sold 235 of the 280 units offered at a median price of $1,741 per sq ft (psf).

The 296-unit One Holland Village Residences in a prime district sold 87 of the 126 units launched at a median price of $2,606 psf.

Three previously launched projects did well last month - Parc Esta with 102 sales, Jadescape with 60 and Parc Botannia at 59.

There have been 9,547 units, excluding ECs, sold so far this year, out of 10,751 launched. This already exceeds the 8,795 units moved for the whole of last year.

"We estimate that between 9,500 and 10,000 units could be sold this year," said Ms Christine Sun, head of research at OrangeTee & Tie.

"We anticipate that the next wave of inbound capital may continue to enter Singapore's property market next year with more Chinese capital flowing south."

Ms Sun added that mortgage rates may remain low or go lower next year, which would help housing demand to "cruise" at current levels: "As such, we estimate that between 9,000 and 9,800 new homes, excluding ECs, could be transacted in 2020."

Mr Desmond Sim, CBRE's research head for South-east Asia, noted that 51 projects have been launched this year - the busiest in the past five years.

He said most new launches this year have had a take-up of less than 50 per cent, so developers are expected to focus on clearing existing inventory while remaining prudent in land bidding.

URA data for last month also shows that the accumulated number of new private residential units launched but unsold stands at 4,375, or 4,748 if ECs are included.

The Monetary Authority of Singapore warned last month that oversupply in the private market threatens to push down prices. There were 31,948 unsold private homes from projects with planning approval as of Sept 30, which could take nearly four years to clear.

Private home prices rose 7.9 per cent last year but consultants expect them to rise by just 2 to 3.5 per cent this year, after the July 2018 cooling measures were implemented.

Ann Williams

PUBLISHED

DEC 17, 2019, 5:00 AM SGT

source: the straits times