As an area grows, its prices generally favor the lower spectrum. Case in point, Parc Botannia when it was released was priced affordably. Part of that had to do with it being released in a year where new launches were scarce however it must also be noted that the area Parc Botannia launched in was around new BTO estates and Thaggam LRT.
Artist’s Impression of Parc Botannia
However, as the years have progressed, the median PSF prices of property in Seletar have seen a huge increase after Q3 2017 and has maintained its high since.
Source: URA Realis, PropertyGuru
2019 shows promise and it is likely that with ongoing development, prices may increase slightly. Investors may want to approach cautiously however until firmer plans, especially with the MRT lines, are revealed by the government.
Rental prices however, have not recovered since its Q3 and Q4 2017 high.
Source: URA Realis, PropertyGuru
One reason could be due to the developing transport infrastructure as well as the new launches not hitting their MOP periods. This will undoubtedly grow as the Aerospace park expands so future investors may wish to watch out for new condos to invest in smaller units to lease out to the workers in the area.
Can you afford a property in Seletar? Check your affordability now. Alternately, refer to our handy buying guides.
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Seletar like other upcoming towns is very much an investment for the future. It’s rough around the edges as all projects inevitably are but like a diamond in the rough, it will shine with enough polishing. In the next 10-years or so, Seletar will look quite different and people who put some money down to invest in its future will begin to see some bang for their buck.
