Summary of HDB and private property prices in Loyang
Median HDB resale prices in Pasir Ris
** indicates no resale transactions in that quarter.
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.
Median HDB resale prices in Tampines
There is no data from HDB on median prices of HDB flats in Loyang. As such, the median prices of HDB flats in nearby Pasir Ris and Tampines are examined.
In general, median price for HDB flats in Pasir Ris is higher in Q4 2018 compared to a year ago. The increase is especially prominent for executive flats where median price rose 8.5% y-o-y. In contrast, median price for other flat types inched up by about 0.6% y-o-y.
The opposite holds true for HDB flats in Tampines where median price for all flat types declined in Q4 2018 except for executive flats which increased by 5.4% y-o-y. The median price for 3-room flats fell the most at 2.4% y-o-y while median price for 4-room and 5-room flats inched down by about 0.9% y-o-y.
From the price trend, it would seem that flats in Pasir Ris hold their value better than those in Tampines. At the same time, median price for the flats in Pasir Ris is still lower than their counterparts in Tampines. Savvy home buyers should take note!
Median HDB rents in Pasir Ris
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.
** indicates no rental transactions in that quarter.
Median HDB rents in Tampines
Since Q1 2017, there has been very little movement in median rent for all types of HDB flats in Tampines and Pasir Ris. However, it is notable that flats in Tampines attract a higher rent than Pasir Ris. This is especially true for the larger flats.
There is no data from HDB on median rents of HDB flats in Loyang. As such, the median rents of HDB flats in nearby Pasir Ris and Tampines are examined.
The difference in rent could be due to Tampines being a more mature town with more facilities compared to Pasir Ris. There are three malls located near Tampines MRT while there is only one mall near Pasir Ris MRT.
Median private property price in Loyang
Source: PropertyGuru
From Q1 2017 to Q2 2018, median prices in Loyang have stayed below $900 psf but started rising above $900 psf in Q3 2018. Median price has since stayed well-above $900 psf.
The increase in price could be due to increasing popularity of Loyang as a residential area and supported by a number of new developments along Flora Drive
The Jovell has just launched and is marketed at about $1,200 psf. Other 99-year leasehold developments along Flora Drive are also commanding good prices in the resale market. The Inflora (completed in 2017) is fetching $822 to $1,339 psf. Older 99-year leasehold developments completed in 2015, such as Hedges Park, Parc Olympia and Palm Isles are transacting at prices between $800 and $1,300 psf.
Looking forward, property prices in Loyang are expected to be given a boost from the exciting offerings in the new Jewel Changi Airport and improved connectivity from the upcoming Cross Island Line.
Median private property rent in Loyang
Source: PropertyGuru
Since Q1 2017, monthly median rent for private properties in Loyang hovers between $2.15 and $2.20 psf. Rents for Loyang are expected to rise as the area gains in popularity as a residential area. However, the rental increase is not expected to be large as it would be dampened by more available units in the rental market.
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Housing prices in Loyang are still rather affordable with private property going for about $1,200 psf but this is not expected to continue indefinitely. As Changi and Pasir Ris develops, Loyang is expected to develop alongside with its two “big brothers”. It would not be much longer before Loyang catches the eye of developers and home buyers.
Can you afford a property in Loyang? Check your affordability now. Alternately, refer to our handy buying guides.
