Triple threat: 2nd million-dollar flat in Sengkang, new record for Punggol, executive flat hits all-time-high in Clementi

On July 1, 2024, three significant transactions occurred that are the subject of this article. The first was a million-dollar transaction in Sengkang. The second involved an overall ATH (All-Time High) in Punggol. The third recorded another ATH for Executive flats in Clementi.

In this article, we debrief the transactions to open the line for analysis and insights, which will help us better understand the market.

Second million-dollar flat in Sengkang

A 5-room flat at 216B Compassvale Drive in Sengkang was recently sold for approximately S$1,000,000. The property, which spans 1,205 sq ft and is situated between floors 16 and 18, sets a new benchmark for the town.

Let's take a look at some graphs to help illustrate the transaction further:

Looking at 5-room transactions, average prices have been trending upward, with the most recent transaction reaching around the S$1 million mark in 2024.

The increase in average prices reflects the growing value and demand for properties in Sengkang. Transaction volumes vary and show notable spikes at certain points, indicating periods of heightened buyer activity. The steady price increase aligns with the recent notable sale, highlighting Sengkang's rising attractiveness as a residential area.

The data depicts an upward trend in average prices, approaching S$1 million in 2024, indicating appreciation in property values. Despite fluctuations, the overall trend indicates consistent price growth, particularly in recent years.

Transaction volumes vary, showing occasional spikes, suggesting periods of increased market activity. This pattern underscores the rising demand and value for properties in Compassvale, establishing it as a sought-after location in Sengkang.

All-time high for Punggol

In Punggol, a 5-room flat located at 269A Punggol Field was sold for S$1,228,000, marking a record high across various room types. Situated between the 14th and 18th floors, this flat spans 1,603 sq ft.

Below, we look at some graphs to uncover some insights into the sales success:

The data for 269A Punggol Field 5-room transactions shows a consistent upward trend in average prices, with a sharp increase to around S$1.2 million in 2024.

Transaction volumes have remained relatively low but consistent, with occasional spikes reflecting periodic bursts of buying activity. The data suggests that 269A Punggol Field has experienced increased demand, leading to a significant rise in property values in recent years.

Based on the overall transactions, the average price trend exhibits fluctuations with a general upward trajectory, particularly notable in recent years, with prices approaching S$900,000 in 2024. Transaction volumes have shown inconsistency, with significant spikes in certain years indicating periods of high activity.

This pattern suggests that while there is variability in the number of transactions, the value of properties at 269A Punggol Field has been appreciating steadily, underscoring the area's growing attractiveness and investment potential in the Punggol region.

Another ATH for EXE in Clementi

A transaction of S$1,150,000 for a unit at 115 Clementi Street 13 marks another all-time high for EXEs in Clementi. This particular unit, located between the 4th and 6th floor, is considered a low-floor unit.

The graph below will help us gain insight into how the transaction happened:

The data shows a consistent increase in average property prices, with some fluctuations around the S$800,000 mark and a significant rise to S$1.2 million in 2024. Transaction volumes have been relatively stable, with occasional spikes indicating periods of increased activity.

The rising average prices, especially the notable increase in 2024, indicate growing demand and escalating property values in Clementi, establishing it as an attractive location for buyers interested in spacious Executive flats.

Comparative analysis between the three transactions

The data shows a consistent upward trend in average prices across all three locations, with significant spikes in certain years. In 2024, 115 Clementi Street 13 had an average price of S$1,150,000 with just one transaction, indicating a notable increase in value.

216B Compassvale Drive saw a substantial rise to S$908,463 with six transactions, and 269A Punggol Field increased to S$856,500 with four transactions.

The trend reveals a growing demand and increasing property values in these areas, indicating their attractiveness and investment potential in Singapore's HDB resale market.

Analysis and insights

On July 1, 2024, there were significant transactions in the HDB resale market across different towns in Singapore. A 5-room flat at 216B Compassvale Drive in Sengkang was sold for S$1,000,000, marking the second million-dollar transaction in the town. This reflects an increase in property values.

The rise in average prices aligns with the demand for properties in Sengkang, indicating its growing appeal as a residential area. Despite varying transaction volumes, periods of heightened buyer activity suggest an increasing attraction to the town's offerings, including its amenities and connectivity.

In the recent property market, an all-time high transaction for a 5-room flat at 269A Punggol Field, sold for S$1,228,000, has been recorded, indicating a significant increase in average property prices in Punggol. This upward trend culminated in a sharp rise to S$1.2 million in 2024, suggesting the growing desirability of properties in this area. Although transaction volumes have remained relatively low, the notable asset value appreciation points to Punggol's strong investment potential.

Similarly, in Clementi, an Executive flat at 115 Clementi Street 13 was sold for S$1,150,000, reflecting the ongoing trend of increasing property values.

Despite being a low-floor unit, the notable price increase emphasises the demand for spacious Executive flats in mature estates like Clementi. These trends collectively signify a robust and appreciating HDB resale market, presenting potential investment opportunities in Singapore's real estate sector.

Conclusion

The sale of the second million-dollar flat in Sengkang, the ATH in Punggol, and another ATH for Executive flats in Clementi reflect a broader trend of rising property values across these towns.

Sengkang has shown increasing average prices and periodic spikes in transaction volumes, indicating a growing appeal to potential buyers.

Punggol's sharp price increases and consistent desirability highlight its investment potential, which is driven by modern amenities and strategic developments. Clementi's enduring demand for Executive flats, even for lower-floor units, underscores the value of mature estates with well-established infrastructure.

The current trends indicate a strong market with increasing demand and growing property values, providing potential opportunities for buyers and investors.

Staying updated on these market trends will be important for making informed property decisions as Singapore's real estate market develops.

Understanding these market dynamics can assist buyers in navigating the competitive HDB resale market more effectively, whether they are looking to make an investment or find a home.

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This article was first published in 99.co.