August’s most value-for-money districts
By Sheena Chua
As we begin the month of September, iproperty.com.sg takes a look at the previous month to see what the most value-for-money and most expensive districts of August 2011 are.
(Source: StreetSine's Property Analytics)
Among all towns in Singapore, Woodlands is the most value-for-money district in the last month at the lowest average price per sq ft (psf) of $350, according to property information website StreetSine.
A significant $72 psf lower than the nation average ($422 psf), Woodlands is far from the town and central business district areas. But it is flanked by the Woodlands Regional Library, Woodlands MRT station, the Causeway Point shopping centre currently under renovation, and the Causeway.
Not surprisingly, the western and northwestern districts of Choa Chu Kang ($353 avg psf), Bukit Panjang ($380 avg psf), Jurong West ($382 avg psf) and Jurong East ($397 avg psf) have easily made it to the top ten. These towns are located further from the town area and commuters, especially those relying on public transport, take a considerably longer time to travel.
For the same reason, Eastern districts of Pasir Ris ($365 avg psf) and Tampines ($413 avg psf) are also in the top ten. However, despite these two districts being located just one MRT station away from each other, the difference is a sizeable $48 avg psf. A likely reason is the abundance of shopping malls found in Tampines, namely Tampines Mall, Tampines 1 and Century Square.
The districts are:
1. Woodlands ($350 avg psf)
2. Choa Chu Kang ($353 avg psf)
3. Pasir Ris ($365 avg psf)
4. Bukit Panjang ($380 avg psf)
5. Yishun ($381 avg psf)
6. Jurong West ($382 avg psf)
7. Sembawang ($391 avg psf)
8. Jurong East ($397 avg psf)
9. Hougang ($404 avg psf)
10. Tampines ($413 avg psf)
Most expensive districts in Aug 2011
(Source: StreetSine's Property Analytics)
At an average psf of $593, the unassuming district of Queenstown is the most expensive town in August 2011. Its close proximity to town and small area may have contributed to its high price. Additionally, a possible explanation for it surpassing even Central Area's average psf is the growing trend for young homebuyers to locate just on the fringes of town. Thus the high price could be a reflection of this demand.
Two 'hubs' — one in Toa Payoh ($478 avg psf) and the other, Ang Moh Kio ($458 avg psf) — are also among last month's ten most expensive districts. These hubs serve as a one-stop destination for residents and help to thin the throngs of crowds in the town area.
A point worth noting is that if the Bukit Timah district had produced a transaction last month, it probably would have been among August's ten most expensive districts. For the past year, its average psf has been in the range of $470 and $571.
The districts are:
1. Queenstown ($593 avg psf)
2. Central Area ($587 avg psf)
3. Marine Parade ($558 avg psf)
4. Bukit Merah ($556 avg psf)
5. Kallang/Whampoa ($512 avg psf)
6. Clementi ($486 avg psf)
7. Geylang ($483 avg psf)
8. Toa Payoh ($478 avg psf) [tie]
9. Bishan ($478 avg psf)
10. Ang Moh Kio ($458 avg psf)
For the most authoritative and comprehensive listing of properties for sale or rent, go to www.iProperty.com.sg For more property news, real estate reports and celebrity home features, head to www.iproperty.com.sg/resources.
