99.co’s Property Round-Up is a monthly report summarising key statistics and figures in the Singapore property market. We kick off this recurring series with an overview of what went on in June!
Total Sales Volume
We’ve added up all of the property sales transactions in June and this comes up to a whooping $4.06 billion! Analysts who predict an upswing in the property market may not be very far off from their assessment that the property market is about to turn that all-important corner.
Median Sale Price
The median price for all properties transacted in June stands at $1,058,620.
Total Rent Volume
In terms of the rental market, $4.31 million worth of rental transactions were recorded in the month of June. The general sentiment on the ground still indicates a soft rental market. We’ll be keeping an eye on this figure in the months ahead to observe which direction rental prices will tend towards.
Median Rent Price
Properties registered a median rental price of $3,000, across the rental market.
Most Transacted Neighbourhood (Sales)
Tampines West saw the highest number of sales transactions recorded in June. With educational institutions like Temasek Polytechnic, United World College and St Hilda’s Secondary School in the area, it is understandable why Tampines West is a popular choice among buyers. Condos in the area include Waterview, The Tropica and the recent launches The Santorini and The Alps. HDB flats in the area are located around Tampines Greenlace and Tampines Green Terrace, along Tampines Street 81 to Tampines Street 86. Click here for more properties for sale at Tampines West.
Most Transacted Neighbourhood (Rental)
Tampines East registered the highest number of rental transactions in June. Its proximity to the Tampines central hub and easy access to the PIE made this area a popular choice among renters. Educational institutions in the area include Temasek Junior College, Ngee Ann Secondary School and Tampines Primary & Secondary Schools. Condos in the vicinity include The Eden at Tampines. Check out properties available for rent at Tampines East here.
Most Popular Development
J Gateway, a 99-year leasehold condominium that received its Temporary Occupation Permit in 2017, clocked in the largest number of enquiries on 99.co. Prized for its location near the bustling Jurong East hub, J Gateway was sold out when it was launched in 2013. We have covered the highlights of this property previously, which you can read about here.