Summary of HDB and private property prices in Boon Lay
Median HDB resale prices in Boon Lay
HDB flats in Boon Lay have generally become more affordable especially for 5-room and executive units in Q1 2019, median price of 5-room and executive flats however, have slipped by 6.4% and 8.4% y-o-y to $428,000 and $535,000 respectively.
Median HDB rents in Boon Lay
Rentals of HDB flats across the board have generally become more affordable. There has been little to no moment for rents of HDB flats in Boon Lay. In Q1 2019, median rent for 5-room HDB flats in Boon Lay declined the most by 9.5% followed by 4-, Executive and 3-room units at 7.7%, 6.7% and 6.2% respectively.
Median price for private property in Boon Lay has hovered around $1,164 psf in 2017 before declining to $1,043 in Q1 2018.
Median rent for private properties in Boon Lay was about $3.08 psf per month in the first three quarters of 2017 but showed a gradual decline to $2.71 psf per month in Q4 2017 before inching up again to $3.02 psf per month in Q3 2018.
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Residents of Boon Lay are indeed blessed as the area is very well established yet with many exciting economic drivers and infrastructure projects that will transform it into one of Singapore’s livable district. With many jobs that will be created close to their homes arising from the development of Jurong Lake District, Jurong Innovation District (JID), a tourism hub in the heartlands and Tuas Port, properties in Boon Lay are set to enjoy a significant price appreciation once the Jurong Region Line and KL-Singapore High Speed Rail projects are completed.