For many, 2020 had been a tough and trying year in several areas. Almost everyone had to adjust their lifestyles – work, school, family, social circles, etc. However, the real estate market in Singapore had exceeded expectations amidst the global pandemic and the total number of property transactions even increased from 2019. Let’s review the most in-demand districts in Singapore’s Private Residential (Non-Landed, Condo) market.
Which Districts Outperformed in 2020?
District 19 (Punggol, Sengkang, Hougang, Serangoon) had the highest number of transactions by a large margin with 2,965 transactions, followed by District 5 (Buona Vista, West Coast, Clementi) and District 18 (Tampines, Pasir Ris), with 1,771 and 1,759 transactions, respectively.
District 19 (Punggol, Sengkang, Hougang, Serangoon)
This district consists of 4 areas, namely Punggol, Sengkang, Hougang and Serangoon. The number of private residential properties for sale in the North-East Region grew by 41.3 per cent from 41,989 units in Q1 2015 to 59,345 units in Q1 2020 with Punggol and Sengkang as the main growth areas.1 As the developments started springing up at a rapid pace, Singaporeans quickly followed suit. From 2015 -2020, the population size in Punggol and Sengkang has increased significantly from 109,750 to 174,450 and 206,680 to 249,370 respectively.2
The district is well served by public transportation which includes LRT stations as well as the Tampines Expressway (TPE). It also boasts amenities such as Compass One, Punggol Container park, Nex Shopping Centre, Punggol Waterway Park and more. Sengkang is also seeing a huge development coming up: a 3.7-hectare, mixed used development named the Sengkang Grand Residence and Sengkang Grand Mall will be completed next year. It will contain a three-storey mall with hawker centres and a childcare centre, a 680-unit condominium and not to forget, Singapore’s largest would-be community centre.
It will also be a haven for fitness enthusiasts. The Punggol Regional Sports Centre which is currently under development will feature a football stadium that can hold up to 5000, 20 badminton courts, sheltered tennis court and archery training centre.
The up-and-coming Punggol Digital District also adds on to the list of industrial parks in the area, which provides employment opportunities. All this, coupled with relatively lower property prices, is probably what attracts home buyers.
Some of the most transacted developments include Affinity at Serangoon, Riverfront Residences and Sengkang Grand Residences.
District 5 (Buona Vista, West Coast, Clementi New Town)
One of the biggest reasons as to why this district is so popular with homebuyers is because it encompasses the “best of both worlds”.3&4 Properties in the district come with the benefit of being relatively close to the core central region, but without the noise and rush that inevitably comes with living there. There is also a good mix of upscale and affordable residential property developments in the district, catering for every budget.
It is situated conveniently in between the main industrial and commercial regions in Singapore, Jurong and Tanjong Pagar, respectively. This means that commuting is convenient for both white-collar office workers who work in the city, as well blue-collar workers who work in the industrial areas.
The district is also well served by large malls such as Star Vista, The Clementi Mall and Queensway Shopping Centre. While the district itself is a little less lively, its close proximity to vibrant and hip locations such as Holland Village makes it easy to have a fun night out. There are also two expressways which pass through the district, namely the Ayer Rajah Expressway (AYE) as well as the West Coast Highway, which makes travelling to the city centre convenient.
Some of the most transacted condominiums in District 5 includes Clavon, Parc Clematis and Kent Ridge Hill Residences.
District 18 (Pasir Ris, Tampines)
This district is arguably one of the largest and most mature residential districts in the East seeing that the combined population of Tampines and Pasir Ris is estimated to be 406,110.5
In addition, the government is still making a lot of effort to develop the district, for example, the development of Tampines Hub cost approximately $500million.6 Singapore’s largest integrated community and lifestyle hub was just a part of the government’s plans to further develop the region. There are also plans to construct a mixed-use development in Pasir Ris further increasing vibrancy in the area. Serviced by huge neighbourhood malls which are right next to the MRT stations such as Tampines mall, Tampines 1 and Whitesands, it is truly convenient for one to go about weekend errands. Pasir Ris also has an identity as one of the greenest towns in Singapore and residents in this district can enjoy the large expanse of Pasir Ris park which will be undergoing further refurbishment under the Remaking our Heartland (ROH3) Scheme.
The expansion of the Downtown MRT line means that there are three MRT stations in Tampines alone and not to mention, the Cross Island Line which will make the Tampines and Pasir Ris area a lot more connected.7 With such robust developments, it is no wonder that developers and homebuyers alike are becoming increasingly interested in this district. Some of the most transacted developments are The Tapestry, Treasure at Tampines and D’nest.
