How have condominiums in Punggol fared in 2021 and what should you do as a seller?

According to data from the Urban Redevelopment Authority (URA), condominiums in Punggol experienced the most capital appreciation over 5 years in District 19 while Serangoon is the worst faring neighbourhood. Read on to find out more.

This is because condominiums in Punggol enjoyed the highest capital appreciation in District 19, data from the Urban Redevelopment Authority (URA) showed.

According to resale transactions that we had analysed based on 2016 and up to 15 September 2021, condominiums in Punggol enjoyed the highest capital appreciation at 23.54 per cent.

This is higher than the average growth that was recorded in the entire District 19.

Coming second place are condominiums that are located in Hougang which saw a capital appreciation of 15.29 per cent followed by Sengkang at 10.88 per cent.

The worst faring area is Serangoon which recorded a depreciation of 6.75 per cent over the same period.

Overall, District 19 saw 1,146 resale transactions at a median transacted price of $1,174.50 per sq ft in 2021.

This represents a capital appreciation of 19.14 per cent over five years when compared to the 168 resale transactions recorded in 2016 at a median transacted price of $985.82 per sq ft.

Let’s take a look in detail at how each area have performed so far.

#1: Punggol

Despite its far-flung location, Punggol is the top performer in District 19.

In 2016, 14 condominium units had changed hands.

This comprises four units at River Isles and 10 units at A Treasure Trove that were transacted at a median price of $843 per sq ft and $995.20 per sq ft respectively.
For the entire Punggol, the median transaction price recorded in 2016 was $919.10 per sq ft.

Meanwhile, in 2021, a total of 189 condominiums were sold at a median price of $1,135.47 per sq ft.

Watertown is the most popular condominium and where the highest median price was recorded with 52 units sold at a median price of $1,372.37 per sq ft.

This was followed by A Treasure Trove with 47 units transacted at a median price of $1,075.62 per sq ft, representing a capital appreciation of 8.08 per cent over five years.

Third in place is Flo Residence with 36 units changing hands at a median price of $971.17 per sq ft – the lowest recorded in Punggol.

The fourth most popular condominium project is River Isles which saw 29 units sold at a median price of $1,010.64 per sq ft.

When compared to 2016’s transaction data, this represents an increase of 19.88 per cent.

Lastly, 25 units at Parc Centros were transacted at a median price of $1,2471.56 per sq ft.

With the upcoming Punggol Coast MRT station, 7.3 kilometre Cross Island Line (CRL) – Punggol Extension and the Punggol Digital District, we can expect demand for condominiums to remain robust in Punggol. 

#2: Hougang 

Hougang is a mature township with plenty of good schools, amenities and delicious local hawker food located within the neighbourhood.

Thus, it is no wonder it is one of the most sought after townships in District 19 ranking second in place in terms of capital appreciation.

In 2016, a total of 39 units were sold at a median price of $1,012.24 per sq ft.

The Minton leads the way with 11 units sold at a median price of $1,091 per sq ft, followed by Kovan Residences (six units sold at a median price of $1,114.17 per sq ft), Kovan Regency and Kovan Melody (five units each sold at a median price of $1,304 per sq ft and $1,017 per sq ft respectively), Terrasse (four units sold at a median price of $1,006 per sq ft), Parc Vera (two units sold at a median price of $956 per sq ft), Central View (two units sold at a median price of $878 per sq ft), Bliss @ Kovan (one unit sold at a median price of $1,386 per sq ft), Palm Haven (one unit sold at a median price of $654 per sq ft) and The Waterline (one unit sold at a median price of $654 per sq ft).

Meanwhile, in 2021, a total of 169 condominiums were sold at a median price of $1,167.03 per sq ft.

Again, The Minton is the most popular condominium with 53 units sold at a median price of $1,115.13 per sq ft.

This represents a price appreciation of 2.21 per cent over five years.

Second in place is Kovan Residences (22 units sold at a median price of $1,477.36 per sq ft), representing a price appreciation of 32.60 per cent over the same period.

Tied in third place are Kovan Melody and Kovan Regency (21 units each sold at a median price of $1,186.86 and $1,448.67 per sq ft respectively) with a capital appreciation of 16.70 per cent and 11.09 per cent respectively when compared to 2016.

The fourth bestselling project was Parc Vera with 15 units sold at a median price of $1,028.47 per sq ft, representing a price appreciation of 7.58 per cent over the same period.

This was followed Terrasse where 12 units were transacted at a median price of $1,084 per sq ft in 2021 – a capital appreciation of 7.75 per cent over the same period.

When compared to the median transacted price of $1,012.24 per sq ft in 2016, Hougang witnessed price appreciation of 15.29 per cent ($1,167.03 per sq ft in 2021) over five years, earning it second place.

By 2030, this could go higher as Hougang MRT station will be upgraded to an interchange station with the CRL.

The Land Transport Authority (LTA) anticipates more than 100,000 households will benefit from this new line which will make Hougang even more attractive for investors.

#3: Sengkang

Just across the Tampines Expressway (TPE) from Punggol is Sengkang.

Served by two MRT stations (Buangkok and Sengkang) and a network of LRT stations, Sengkang is considered the most populous planning area in the North-East Region.

In 2016, a total of 12 units had changed hands at a median transacted price of $965.79 per sq ft.

Leading the pack is The Quartz (seven units sold at a median price of $877.86 per sq ft), followed by The Luxurie (four units sold at a median price of $1,123.50 per sq ft) and Riversound Residence (one unit sold at a median price of $962 per sq ft).
Meanwhile, in 2021, a total of 169 condominiums were sold at a median price of $1,135.47 per sq ft.

La Fiesta is the most popular condominium with 55 units sold at a median price of $1,263.53 per sq ft followed by Flo Residence with 36 units changing hands at a median price of $971.17 per sq ft.

Third in place is The Luxurie (34 units sold at a median price of $1,167.88 per sq ft). When compared to 2016, it saw a capital appreciation of 3.95 per cent.

This was followed by Riversound Residence where 28 units were transacted at a median price of $1,001.11 per sq ft (a capital appreciation of 4.07 per cent), and Jewel @ Buangkok (27 units at a median price of $1,326.11 per sq ft).

Fifth in place is The Quartz and Rivervale Crest where 24 units each were transacted at a median price of $1,026.71 and $753.88 per sq ft in 2021.
For The Quartz, this represents a price appreciation of 16.97 per cent over five years.

For the entire Sengkang area, the median transacted price in 2021 is $1,070.91 per sq ft, representing a price appreciation of 10.88 per cent since 2016.

By 2040, a new MRT station may be added to Sengkang which will improve its connectivity further to the rest of the island.

According to Land Transport Master Plan 2040, there is a possibility that an eighth MRT line will run from Woodlands to the Greater Southern Waterfront with a station passing through Sengkang.

Estimated to be about 30 km long, the line will potentially benefit 400,000 households, if the plan were to materialise.

This could uplift property prices further.

#4: Serangoon

Though Serangoon is located closer to the city and is served by Serangoon MRT interchange station that connects to the Circle Line and North East Line, the private property sector lags behind those of Punggol, Sengkang and Hougang.

In fact, it is the only area in District 19 that recorded negative growth.

In 2016, a total of 20 units were sold at a median price of $1,113.48 per sq ft.

Chiltern Park is the most popular project (seven units sold at a median price of $989 per sq ft), followed by Cardiff Residence (four units sold at a median price of $1,308.2 per sq ft), Casia Cambio and Chuan Park (three units each sold at a median price of $1,420.66 and $752.67 per sq ft respectively) and Casa Rosa (one unit sold at a median price of $837 per sq ft).

In 2021, a total of 73 units were sold, comprising 27 units at Boathouse Residences (at a median price of $1,049.26 per sq ft), 12 units at Cardiff Residence (at a median price of $1,301.33 per sq ft), nine units at Chiltern Park (at a median price of $1,054.44 per sq ft), seven units each at Casa Cambio and Cherryhill (at a median price of $1,366.42 and $1,105.86 per sq ft respectively), five units at Amaranda Gardens (at a median price of $1,492 per sq ft), four units at Chuan Park (at a median price of $1,013.25 per sq ft) and two units at Casa Rosa (at a median price of $1,005.50 per sq ft).

When compared to 2016, Cardiff Residence, Chiltern Park and Casa Cambio witnessed a price depreciation of 0.53, 30.24 and 3.97 per cent respectively.

Meanwhile, Casa Rosa, Cherryhill and Chuan Park saw a price appreciation of 20.13, 11.82 and 34.62 per cent respectively.

For the entire Serangoon area, the median transaction price in 2021 was $1,043.12 per sq ft, representing a capital depreciation of 6.75 per cent over 5 years.

Under the URA Master Plan 2019, the URA envisages Serangoon Central to be “the heart of the North East region with excellent connectivity via the North-East Line, Circle Line, and Serangoon Bus Interchange.”

However, there are no plans so far for Serangoon’s rejuvenation nor any new infrastructure developments under the master plan.

This could be a dealbreaker for property investors looking for potential upsides. 

Summary

Based on our analysis, it may be an opportune time to either sell your condominium or invest in one in Punggol.

This is because there are potentially new upsides arising from the completion of the Punggol Digital District, Punggol Coast MRT station and the upgraded Punggol MRT interchange station to the CRL.

The URA Draft Master Plan 2019 anticipates Punggol Digital District to be a new smart city by 2023 that will create around 28,000 jobs.

The innovation hub is expected to house technology firms involved in key growth fields as well as the new Singapore Institute of Technology Campus.

That’s not all.

The LTA expects the new Punggol Coast MRT station to provide enhanced connectivity to the rest of the island via the CRL which will link Punggol Digital District to Jurong Lake District and Changi by around 2030.

Collectively, all these infrastructure projects are expected to have a positive spillover impact for Punggol.

Interested to sell your condominium or buy one in Punggol? Khalil is there to help. Contact him for a non-obligatory chat.

Enjoy what you have been reading? Join our mailing to get valuable insights delivered to your inbox today.