Home prices across the four quarters in 2017 were, for the most part, consistent. Due to the lower number of new launches in 2017, prices have maintained in the $1,200 – $1,300 psf range.
The biggest new launch of that year was Parc Botannia, at the end of the fourth quarter. As it entered the market during a lull month, it didn’t have much of an overall impact even though Parc Botannia’s launch was a success.
In Q2 2018, prices rose across the board. This wasn’t exclusive to D19. This was expected as 2018 was the year when many new developments would launch. Prices rose exponentially month on month until the ABSD revisions calmed things down a little.
Private property rental yield
The four quarters of 2017 saw median monthly psf averaging around $2.70. For D19 where new towns like Sengkang are continually gentrifying, the lower psf is a strong indicator of affordable price in the face of new developments.
This would pay off in Q1 2018, when monthly median psf shot up into the $2.80 average.
Based on this growth, it’s probable this median average will maintain for the entirety of 2018 and the year after for Sengkang.
Median HDB resale prices in Sengkang
Prices in Sengkang are comparatively lower compared to matured districts. For example, 5-room units see resale volumes in the $440K range; a good $100K difference from Tampines.
The further Sengkang is gentrified, home prices will see an increase year-on-year although it is unlikely we’ll see a significant increase in 2019.
Median rental HDB Sengkang
Median rental saw little movement from 2017 to the first two quarters in 2018. 4-room units go up the $1,900 which is still below then $2,000 average in matured districts.
Sengkang represents an affordable location for families who may need to rent in the short-term while waiting for their BTO to complete. At the moment, home prices are relatively low.
Can you afford a property in Sengkang? Check your affordability now. Alternately, refer to our handy buying guides.