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Buying Property in Singapore? 3 Hottest Residential Estates in Q3 2021
The residential property sector in Singapore has been witnessing a buzz that is not only pushing prices and transaction volume up, but also making more people interested in property investment since it is seemingly recession-proof. If you are looking into buying a property in Singapore and not sure which residential estate has the greatest potential, keep reading because we’ve shortlisted three of the hottest residential estates that you should look out for during Q3 2021.
Residential Estates To Look Out for in Q3 2021
Our top picks for residential estates with high potential in Q3 2021 goes to:
Sengkang
Hougang
Tampines
These three estates are located in the Outside Central Region (OCR) which has always been a popular choice for homebuyers. In a recent release by Urban Redevelopment Authority (URA), it was reviewed that the price index for this region has hit 185.3 in the first quarter of 2021, ahead of the Core Central Region (CCR) at 133.2 and the Rest of Central Region (RCR) at 170.4. Our evaluation of the shortlisted estates is not solely based on price index, we have also assessed the resale potential, upcoming Build-To-Order (BTO) launches, and possible URA development plans that will impact the vitality of these residential estates.
Hougang
Hougang is located in the North-East region of Singapore and is regarded as the largest HDB town in Singapore. With an estimated 179,600 HDB resident population and about 50,248 flats, this housing estate has extensive amenities, picturesque parks, and transportation facilities that connect its residents to the rest of the island with ease.
Upcoming BTO Launches in Hougang
There will be two Hougang BTO launches this August and both are expected to roll out a total of 1,320 units for two to five-room HDB flats. Located at Hougang Ave 3 and Upper Serangoon Road, these housing estates are bound to capture an influx of interested homebuyers. BTO projects are highly sought after because of government subsidies as well as the great potential for capital gains once the HDB units reach their five-year Minimum Occupancy Period (MOP). Combine this with Hougang’s upward trending property prices and we can expect positive gains for property investors and homebuyers.
Sengkang
Sengkang is one of the most popular HDB estates in Singapore. This housing estate offers close proximity to several primary and secondary schools and convenient amenities. Sengkang is a new town that is experiencing rapid growth in population and commercial development. In the years to come, the URA Master Plan will also introduce more green spaces and recreational facilities to ensure more leisure spots are provided to its nearly 250,000 residents.
High HDB Resale Volume in Sengkang
One key reason why Sengkang is an estate to look out for is largely due to its notable high resale volumes for HDB housing. While resale HDB prices are at an eight-year high, Sengkang is ranked the second-highest estate for resale volumes between January 2020 and February 2021. This implies that residents can benefit from the active property market in this area.
Upcoming Executive Condominium (EC) Launch
The launch of any EC can often cause hype in an estate and the upcoming launch of Parc Greenwich, a 500-unit EC project located at Fernvale Lane, may draw the attention of many HDB upgraders or first-time homebuyers. Although the Parc Greenwich EC does come with some trade-offs in terms of location and convenience, the affordable prices provide an easy entry into the condo market and great potential for capital appreciation when the estate privatises after 10 years.
Tampines
Tampines is in the East Region of Singapore and this estate is currently undergoing developments to create a more scenic living environment and more commercial spaces to boost the vibrancy of this estate. Many of us may not be aware that Tampines is the proud winner of the United Nations World Habitat Award for Excellence in Housing Design in 1992 for the estate's smart design and utilisation of mechanised construction methods to construct a host of facilities for its residents.
Upcoming HDB BTO in Tampines
Tampines will have two HDB BTO launches in August 2021 where over 2,000 units of new flats will be open for sale. Located at Tampines Street 96 and Tampines Street 94, homebuyers of these new units will benefit from living in close proximity to Tampines West MRT, Our Tampines Hub, and SAFRA Tampines. These BTO launches open up an opportunity for new homebuyers who aspire to live in the Eastern part of the island and start a new life in a mature estate where there are more comprehensive amenities.
URA Master Plan for Tampines and East Region
Tampines has already been a fortunate recipient of a great number of developments that are happening in the estate. With the Tampines Town Hub, Singapore’s first integrated lifestyle hub in the heartlands and developments such as the expansion of Changi General Hospital, improved transport infrastructure, growth of business parks, and educational institutions, the estate is set to become one of the key estates in the East to embrace Singapore’s decentralisation strategy to bring “live, work, and play” closer to home.
Planning to Buy Property in Singapore Q3 2021?
If you are ready to buy a new property in an up-and-comping residential estate, it is time to start doing your research for a place that resonates with your lifestyle and goals. Purchasing a property can be tricky, that’s why we’ve done all the homework to help you find the best home loan rates in Singapore. To compare the lowest home loan rates today, try our Home Loan Calculator to find the best mortgage rates.
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The article Buying Property in Singapore? 3 Hottest Residential Estates in Q3 2021 originally appeared on ValueChampion's personal finance blog.
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