Summary of HDB and private property prices in Hougang
Median HDB resale prices in Hougang
HDB flats in Hougang have generally become more affordable, especially for 3-room units. In Q4 2018, the median price of 3-room flats slipped 1.07 percent year-on-year to $280,000.
Median HDB rents in Punggol
Rents of HDB flats in Hougang have become more affordable across the board since Q3 2017. The median rent for 3- and 4-room HDB flats in Hougang, in particular, has fallen since Q3 2017. Their rents have held firm at $1,600 and $1,900 per month respectively since Q4 2017.
The median price for private property in Punggol hovered around $1,100 psf in 2017 before surging to $1,416 psf in Q1 2019.
The median rent for private properties in Hougang was about $2.85 psf per month in 2018 but showed a gradual increase to $2.89 psf per month in Q1 2019.
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Hougang is a very popular estate with a fairly strong demand for HDB flats and private properties. This has perhaps explained why rentals and resale values have remained fairly robust. The Cross Island Line passing through Hougang via the Hougang and Defu MRT stations as well as the upcoming Defu Industrial Park and Lorong Halus Industrial Park will act as property boosters for existing and new homes. This, plus the availability of many good schools will make Hougang even more attractive and may result in further capital appreciation for properties here.