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SG Hougang's private properties hotting up

Property Here - Monday, May 20, 2013

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By Shabnam Muzammil:

The mature estate of Hougang is moving away from being a mainly public housing enclave with the recent launch of new private housing developments, reportedThe Straits Times.

According to experts, 2,319 new homes will be added to the 12,457 private properties and 496 executive condominium (EC) units there and will come from new projects such as Riversails (pictured), Boathouse Residences, Parc Vera and Heron Bay among others.

Ong Teck Hui, Research Director at Jones Lang LaSalle (JLL) Singapore noted that the supply of new private homes has “widened the choice for buyers interested in this part of Hougang”. 

“Prices of new condominiums in this area average around S$840 to S$920 psf which is a manageable entry-level pricing for private homes.”

Chia Siew Chuin, Research and Advisory Head at Colliers International, said that resale non-landed private homes account for 54 to 64 percent of all resale transactions in the area, while prices range from S$835 to S$1,000 psf. 

Meanwhile, Ong Kah Seng, Director at R'ST Research, said many HDB residents are looking to upgrade “so private homes in Hougang at suitable prices will appeal to residents looking to upgrade in the same location”.



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg