Private property prices in Bukit Timah
The opening of new stations along the Downtown Line 2 in Bukit Timah has had a positive effect on property prices in the area.
However, we expect the recent property cooling measures to negatively impact demand for new homes in Bukit Timah, which should see prices moderate slightly in the coming months.
We expect demand for older condo developments near MRT stations, especially those with long 999-year leases, to continue to see healthy interest.
Overall, with the large number of landed properties in the area, including good class bungalows, median prices in Bukit Timah are always going to be higher than those of districts a similar distance from the city.
Private property rents in Bukit Timah
With new private housing supply expected to increase in the coming years following numerous en bloc sales in Bukit Timah, we expect rents to remain soft due to elevated vacancy rates. With fewer foreign workers coming to work in Singapore, this will affect rental demand in the area, which is traditionally a popular location among expat renters.