Summary of HDB and private property prices in Clementi
Median HDB resale prices in Clementi
Note: *indicates 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.
In general, the median price for 3-room HDB flats in Clementi was lower in 2018 compared to the previous year. As at Q4 2018, the median price for 3-room flats in Clementi was $310,900, down 9.5 percent year-on-year.
In contrast, median prices for 4-room HDB flats in Clementi is more volatile but seems to be on the recovery path in 2018. As at Q4 2018, median prices for 4-room flats in Clementi rose to $600,000 up from $521,500 in Q4 2017.
Median HDB rents in Clementi
Note: *indicates cases where there 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.
Since Q3 2017, median rent for 3-room flats in Clementi has held firm at $1,800 per month.
However, more rental price movements were seen for 4 and 5-room HDB flats in Clementi. For 4-room flats, the median monthly rent seems to fluctuate between $2,300 and $2,400 in recent years. As for 5-room flats, median monthly rents are hovering between $2,500 and $2,600.
Median private property price in Clementi
Source: PropertyGuru
Median prices for condominiums in Clementi stayed well below $1,300 psf in 2017 but broke through the benchmark in 2018. As at Q1 2019, the median price for condominiums in Clementi is $1,358 psf, up 8.8 percent year-on-year.
Although Clementi started out as a HDB housing estate, its excellent amenities and connectivity made it popular with private home buyers too. Some new private condominium projects in Clementi include The Trilinq, NEWest and The Vision.
Artist’s Impression of the Trilinq
The Trilinq and NEWest just received TOP in 2017 but both of them could not be more different. The Trilinq is a 99-year leasehold development with 755 units while NEWest is a 999-year leasehold project with 136 units. Prices for The Trilinq range from $990,000 to $5.06 million ($1,017 to $1,857 psf). Prices for units at NEWest start at a lower $880,000 but can go up to $28 million for the larger units ($891 to $9,424 psf).
Artist’s Impression of The Vision
The Vision is another project in Clementi that was completed in the last five years. The 99-year leasehold condominium received TOP in 2015. Prices for the 295 units in the development range from $1.16 million to $3.98 million ($659 to $1,565 psf).
Looking forward, the launch prices for Parc Clematis and the new site along Clementi Avenue 1 are likely to set the price benchmark for condominiums in the neighbourhood.
Median private property rent in Clementi
Source: PropertyGuru
The monthly median rent for Clementi has been on a downward trend from Q1 2017 to Q2 2018 before stabilising at $3.10 psf from Q3 2018 to Q1 2019. Rentals in Clementi are not expected to see much movement as most of the units are likely to be owner-occupied. The most obvious potential renters for available units would be foreign students who are studying in one of the nearby tertiary institutions. Such renters are likely to have a modest housing budget which will place a cap on the amount of rent that landlords can demand.
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Clementi will always appeal to home buyers because it is a mature estate with lots of amenities and excellent transport infrastructure. This is proven by the high price paid by SingHaiYi to the owners of Park West during the en bloc sale as well as the keen interest anticipated for the URA site in Clementi Avenue 1. As such, prices in Clementi are expected to climb upwards albeit gradually in the next few years.
Can you afford a property in Clementi? Check your affordability now. Alternately, refer to our handy buying guides.
