Summary of HDB and private property prices in Jurong
Median HDB resale prices in Jurong East
Median HDB resale prices in Jurong West
In general, the median price for HDB flats in Jurong East and Jurong West is lower in Q2 2018 compared to a year ago. However, median prices are on an upward climb, especially the 3- and 4-room flats in Jurong West which rose 4.8 percent q-o-q and 4.3 percent q-o-q to $260,000 and $365,000 respectively.
It is also interesting to note that flats in Jurong East are much higher than their counterparts in Jurong West. This could be because Jurong East has more amenities as it is more an established and developed housing estate compared to Jurong West.
Median HDB rents in Jurong East
Median HDB rents in Jurong West
Since Q1 2017, there has been very little movement in the median rent for all types of HDB flats in Jurong. However, it is notable that flats in Jurong East attract a higher rent than Jurong West, especially the larger flats.
In Q2 2018, a 3-room flat in Jurong East can fetch only $100 more in monthly rent compared to a similar flat in Jurong West. However, the rent difference widens to $400 when comparing executive flats.
View of residential properties in Jurong.
Median private property prices in Jurong
Source: URA, PropertyGuru
Median prices dipped below $1,100 psf in Q1 2018 for private properties in Jurong. As at Q2 2018, the median price was $1,091 psf, down from $1,166 psf a year ago.
Median private property rents in Jurong
Source: URA, PropertyGuru
The monthly median rent for private properties in Jurong is also on a downward trend, falling from a high of $3.20 psf in Q2 2017 to $2.84 psf in Q2 2018.
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Housing prices in Jurong are still rather affordable with new HDB 5-room flats still under $600,000 and prices for private properties just slightly above $1,000 psf. However, this may not last long.
House prices for the neighbourhood are expected to increase as the government’s plans to develop Jurong into Singapore’s second CBD takes shape. Young couples looking to buy their first home will do well to consider Jurong. This still unassuming estate not only has numerous schools and amenities but also great potential to transform into one of Singapore’s most sought-after residential neighbourhood.
