Summary of HDB and private property prices in Tengah
Median HDB resale prices in Bukit Batok
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 Choa Chu Kang
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.
There is no data from HDB on median prices of HDB flats in Tengah. As such, the median prices of HDB flats in nearby Bukit Batok and Choa Chu Kang are examined.
In general, median price for HDB flats in Bukit Batok is higher than their counterparts in Choa Chu Kang. The price difference is especially prominent for 5-room flats. In Q1 2019, median price for 5-room flats in Bukit Batok is $527,500 while those in Choa Chu Kang are $405,000.
However, the flats in Choa Chu Kang seem to be holding their value better than similar units in Bukit Batok. In Q1 2019, median price for 4-room flats in Chao Chu Kang was $339,000; up 0.3% q-o-q and 2.4% y-o-y. In contrast, 4-room flats in Bukit Batok were transacting at a median price of $365,000 in Q1 2019; unchanged from a quarter ago but down 6.4% y-o-y.
To sum up, home buyers looking for flats with potential for capital gains should prioritise Choa Chu Kang over Bukit Batok.
Median HDB rents in Bukit Batok
Median HDB rents in Choa Chu Kang
Note: * indicates cases where are less than 20 rental transactions in the quarter for the particular town and flat type. The median rental of these cases are not shown as they may not be representative.
There is no data from HDB on median rents of HDB flats in Tengah. As such, the median rents of HDB flats in nearby Bukit Batok and Choa Chu Kang are examined.
Since Q1 2017, monthly median rent for all types of HDB flats in Bukit Batok and Choa Chu Kang has remained stable with few changes. However, it is notable that flats in Bukit Batok tend to attract higher median rent of about $100 to $200 per month compared to their counterparts in Choa Chu Kang.
Median private property price in Tengah
Source: PropertyGuru
Median prices for private properties in Tengah peaked at $1,286 psf in Q3 2017 before declining. However, prices for the area has been climbing upwards recently. As at Q1 2019, median price was $1,076 psf; up 2.7% q-o-q and 12.1% y-o-y.
The improved connectivity after the completion of the Hillview MRT station on the Downtown Line coupled with the development of a number of condominiums could have led to an increase in interest for homes in the area. This in turn could have given a boost to housing prices.
Artist’s Impression of the Hillier
The Hillier is a popular condominium project in the Hillview area that received TOP in the last few years. Completed in 2016, the 99-year leasehold development has 528 units and is located beside HillV2; a boutique mall. Housing prices range from $735,000 to $1.30 million ($1,327 to $1,792 psf).
Artist’s Impression of Kingsford Hillview Peak
There is another 99-year leasehold project in the same area that was completed in 2016. Kingsford Hillview Peak has 512 units with prices ranging from $738,000 to $2.04 million ($1,298 to $1,803 psf).
There are also a few older developments in the area that are still popular with home buyers. The 305-unit Merawoods was completed in 1999. Units at the 999-year leasehold development are transacting at $1.48 to $2.42 million ($991 to $1,174 psf). Freehold Glendale Park was completed a year later. Prices for the 448-unit project range from $1.38 to $2.15 million ($1,248 to $1,369 psf).
Hume Park 1 and 2 are freehold condominiums that were completed in 1996 and 1997 respectively. Prices for Hume Park 1 range from $1.60 to $1.87 million ($1,122 to $1,249 psf) while units at Hume Park 2 are fetching $1.42 to $1.76 million ($1,147 to $1,185 psf).
Prices for condominium units around the Hillview area are relatively affordable with many units transacting at below $2.0 million.
It is also interesting to note that many of the older developments in the area are either freehold or have tenures of 999 years. Buyers looking to purchase a freehold unit at affordable prices should consider house hunting in the area!
Median private property rent in Tengah
Source: PropertyGuru
Since Q1 2017, monthly median rent for private properties in Tengah has hovered between $2.40 and $2.50 psf. Monthly median rent for Tengah hit a peak of $2.49 psf in Q1 2019; up 1.2% y-o-y.
While rents for Tengah is expected to increase as the area becomes more developed, the growth is expected to be gradual and in tandem with new developments and amenities.
Can you afford a property in Tengah? Check your affordability now. Alternately, refer to our handy buying guides.
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Housing prices in Tengah are still rather affordable with 4-room BTO flats going for below $300,000 while 5-room BTO units are selling for under $400,000. There are also many private condominium units in the Hillview area that were sold for less than $2.0 million.
Home buyer looking for a bargain should consider Tengah especially if they are looking for private properties with a freehold tenure. While the less developed state of the area might be a drawback for some home buyers, those who are willing to look beyond that to potential capital gains might find Tengah to be their ideal choice!
