Summary of HDB and private property prices in Bugis
Median HDB resale prices in Bugis
Note: * indicates cases where 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.
HDB flats in Bugis have generally become more expensive for 4-room flats. In Q2 2018, median price of 4-room flats increased 2.4% q-o-q to $870,000.
Median HDB rents in Bugis
Note: * indicates cases where are less than 20 rental transactions in the quarter for the particular town and flat type. The median rental of these cases is not shown as they may not be representative.
There has been little to no movements for rental prices of 3- and 4-room HDB flats in Bugis. There was a slight increase recorded in Q1 2019 as rentals for 3- and 4-room HDB flats increased slightly to $2,150 and $2,700 respectively from $2,100 and $2,600 respectively in Q4 2018.
Median price for private property in Bugis has seen a huge increase from $1,125 psf in Q1 2017 before surging to a peak of $3,266 psf in Q4 2018.
Median rent for private properties in Bugis peaked at $4.65 psf per month in Q1 2018 but showed a gradual decrease to $4.51 psf per month in Q2 2018 before remaining flat at $4.18 psq per month from Q3 2018 to Q1 2019.
Get the Guru View
The rejuvenation of the Ophir-Rochor corridor has seen Bugis being transformed into a strategic transport hub, the extension of the CBD area and an exciting arts, cultural, entertainment and educational hub being developed at the Bras Basah.Bugis Arts Belt on Bencoolen Street, Armenian Street and Queen Street.
Bugis is now served by a rich underground MRT network with Bugis MRT now upgraded to an interchange station to the Downtown Line while the Circle Line is within walking distance at Bras Basah station. Over the years, Bugis’s skyline has changed dramatically with the addition of new mixed-use developments such as South Beach and Duo Towers. All these have perhaps explained why property prices have seen an uptrend. The development of Guoco Midtown and Tan Quee Lan Street, as well as the redevelopment of Shaw Tower, will add new commercial space and extend the CBD to Bugis. As such, we can expect property prices to surge ahead as land parcels in the Bugis area are extremely scarce.