What residential projects had the highest appreciation this month? Knowing which properties are increasing in price will help you spot potential hot areas of the property market. In this article, based on analysis done at PropertyMarketInsights.com, we will share the top five resale and subsale residential projects ranked by percentage price change in September 2012 from the previous month. Only projects with at least five transactions in each month are included in this analysis.
Use this list to find projects where prices are trending up strongly on a month-on-month basis. You can use this information profitably by either finding units in the same project that are still underpriced (i.e. have not reflected the pricing momentum), or to find neighbouring projects that are laggards in the expectation that they will play some sort of catch up.
5. The Estuary, +3.8%
(All map screenshots are taken from OneMap.sg)
The Estuary climbed from $924 per square foot (PSF) to $960 PSF month-on-month, an increase of 3.8%, settling in at fifth place. Located at Yishun Avenue 1, the 99-year leasehold condominium is expected to be completed in 2013 with 608 units. The Estuary comes with facilities like clubhouse, lap pool, fun pool, fitness corner and steam bath. Being in the Yishun area, The Estuary is walking distance to Khatib MRT and is close to North Point Shopping Centre. The Estuary is also just beside Yishun Sports Hall and Yishun Stadium. Nearby schools include Yishun Junior College and Chung Cheng High.
4. The Miltonia Residences, +5.7%
The Miltonia Residences climbed from $829 PSF to $876 PSF month-on-month, an increase of 5.7%, settling in at fourth place. Located at 19 Miltonia Close, the 99-year leasehold condominium is expected to be completed in 2015 with 410 units. The Miltonia Residences comes with facilities like jacuzzi, lap pool, spa pool, tennis court and playground. Being in the Yishun area, The Miltonia Residences is a few minutes’ ride to Khatib MRT and is close to North Point Shopping Centre. The Miltonia Residence is also just beside Orchid Country Club Golf Course. Nearby schools include Northbrooks Secondary School and Northland Primary School.
3. Serangoon Garden Estate, +6.5%
Serangoon Garden Estate climbed from $1,107 PSF to $1,179 PSF month-on-month, an increase of 6.5%, taking third place.Serangoon Garden Estate is only minutes’ away from Lorong Chuan MRT station and is close to Serangoon Garden Village and Bishan Park. Nearby schools include Zhong Hua Primary School and Nanyang Junior College. Residents can head down to Serangoon Garden Village for daily amenities.
2. Meadows @ Pierce, +6.8%
Meadows @ Pierce climbed from $1,114 PSF to $1,190 PSF month-on-month, an increase of 6.8%, making it to second place. Located at 626 Upper Thomson Road, the freehold condominium is expected to be completed in 2012. Meadows @ Pierce offers facilities such as a basketball court, badminton lawn, putting green and jogging track. It is only minutes away from Yio Chu Kang MRT station and is close to schools like Mayflower Secondary School and Anderson Junior College. Residents can head down to the stretch of eateries and supermarkets at Upper Thomson Road for daily amenities.
1. Parc Centros, +7.4%
Parc Centros climbed from $923 PSF to $991 PSF month-on-month, an increase of 7.4%, topping the list. Located at 86 Punggol Central the 99-year leasehold condominium is expected to be completed in 2016. Parc Centros offers facilities such as a 50 meter infinity lap pool, firefly stream, jogging trail, mini putting green, island dining and swim-out bar. It is walking distance to Punggol MRT station. Nearby schools include Edgefield Primary School and Mee Toh School. Residents can head down to the stretch of eateries and supermarkets at Punggol Central and Punggol Plaza for daily amenities.
While we have tried to exclude idiosyncratic factors from causing extreme price changes (e.g. an unusual unit in a project) by setting a minimum of five transactions in each month to do the calculation, please do your homework to ensure there are no special reasons for the price changes. Till next month!
Want a longer list of the best performing properties? How about a list of the worst performing ones to spot bargains? You can get this and much more at PropertyMarketInsights.com, a site that helps investors spot opportunities and time their Singapore property purchases. Click here to get your FREE report on Understanding the Property Market Cycle to invest profitably now.