Representing the bulk of Singapore’s North-eastern region, District 19 has been the hotspot for new condominium launches for the entire past decade.
In fact, transaction records show that in the past ten years, 1 out of every 8 non-landed private residential homes sold in Singapore were from D19, and 1 out of every 6 new launch condo units sold were from D19. Sustained demand for housing in Serangoon, Hougang, Sengkang, and Punggol have driven demand for condos in D19 and property prices progressively upwards.
The most noteworthy statistic is that, in the past 10 years, average per square foot (psf) prices for 99-year leasehold condos in District 19 have doubled since the first quarter of 2020.
This chart shows how District 19 outperformed the price appreciation of leasehold properties across the whole of Singapore:
For freehold properties, District 19 also outperformed the whole of Singapore, based on average psf transaction prices:
Comparing District 19 to other Outside Central Region (OCR) districts, we can also see that D19 is right up there in terms of price growth.
For 99-year leasehold properties:
| District | Area | Average PSF (Q1 2010) | Average PSF (Q3 2020) | % Change |
|---|---|---|---|---|
| 17 | East | $502 | $1,037 | 106.51% |
| 19 | Northeast | $711 | $1,423 | 100.17% |
| 18 | East | $637 | $1,257 | 97.51% |
| 28 | Northeast | $552 | $1,076 | 94.83% |
| 26 | North | $622 | $1,197 | 92.31% |
| 23 | West | $635 | $1,076 | 69.50% |
| Singapore Average | All | $942 | $1,528 | 62.16% |
| 25 | North | $578 | $931 | 61.20% |
| 22 | West | $674 | $1,048 | 55.36% |
| 27 | North | $673 | $953 | 26.89% |
For freehold/99-year leasehold properties:
| District | Area | Average PSF (Q1 2010) | Average PSF (Q3 2020) | % Change |
|---|---|---|---|---|
| 23 | West | $725 | $1,258 | 73.47% |
| 17 | East | $672 | $1,064 | 58.42% |
| 28 | North | $608 | $905 | 48.70% |
| 19 | Northeast | $902 | $1,289 | 45.22% |
| 27 | North | $627 | $887 | 41.57% |
| 18 | East | $710 | $939 | 32.30% |
| 26 | North | $884 | $1,138 | 28.72% |
| Singapore Average | All | $1,311 | $1,675 | 27.71% |
Why do District 19 condos consistently appreciate in value?
There are three major reasons behind the impressive price performance of District 19’s condominiums.
The first reason relates to the mature estates within D19. Both Serangoon and Hougang are mature estates with a full range of amenities for residents.
Yet, there is still plenty of room for both towns to develop and add even more amenities. Hougang, for instance, will be the future interchange for the Cross Island Line towards the end of the decade.
The area around Hougang Central, with extensive parcels of undeveloped greenfield land, also hints at the potential property value upside that future developments can bring. The URA Master Plan shows that the land is zoned for commercial and residential uses.
Similarly, a sizeable plot of greenfield land in Serangoon Central, next to the NEX shopping mall, is zoned for a commercial development. The land currently occupied by the former Serangoon interchange is also zoned for redevelopment into a commercial and residential complex with a massive land area of over six football fields.
There is also increasing value for properties near the Circle Line, because of its connection with the upcoming Thomson-East Coast Line (TEL) at Caldecott and new stations in the CBD that will open in 2026.
Having room for new developments means upside potential for District 19’s private homes, while existing amenities, such as reputable schools, form a foundation for price appreciation for properties in the district. It’s literally the best of both worlds.
The second reason is that new, non-mature estates here, namely Sengkang and Punggol, have experienced such a rapid development over the past decade that they should be officially regarded as mature estates instead.
Recently, Sengkang has added a general hospital to its already long list of amenities. Punggol is still taking shape, but already boasts an excellent mall (Waterway Point), neighbourhood hubs (Oasis Terraces) and one of the best recreational infrastructures in Singapore. A sports hub and the Punggol Digital District are major projects that are under way.
The third reason for the consistent appreciation of home prices in District 19 is the allure of District 19 for property developers. A handful of en bloc deals were struck in District 19 during 2017 and 2018, and the subsequent launch of new projects, have lifted property prices in the area.
Within the district, there is also a diverse variety of private homes and price points to attract various types of buyers. Prices for Serangoon properties are typically more expensive, followed by homes in Hougang, Sengkang, and Punggol.
A diversity of new launch condos within District 19
Most condos in District 19 are 99-year leasehold properties, but there are freehold options such as The Gazania and The Lilium that are mostly located among the landed neighbourhoods around the Bartley area—the plus point for this location is easy access to Bartley MRT Station on the Circle Line. The location is also ideal for those who drive or frequently travel by car, as Bartley Road is a semi-expressway offering fast access to all parts of Singapore that’s mostly devoid of traffic lights!
Speaking of landed neighbourhoods, District 19 has several of them. Some savvy condo buyers purposefully seek projects right next to landed estates, as these developments offer a more tranquil and relaxed environment with greater exclusivity, privacy, and sense of space. The Garden Residences (next to Serangoon Garden estate) and The Florence Residences (next to Kovan estate) are two such projects in District 19, with units overlooking their respective landed estates able to offer stunning, permanently unblocked views.
Executive condominiums, which are highly sought after among Singaporeans who qualify for one, are also a mainstay in District 19’s Sengkang and Punggol. The latest launch is Sengkang’s OLA, which is billed as Singapore’s first luxury EC.
Does living in District 19 appeal to you? Let us know what you think in our comments below!
Interested in buying a property? Check out the Singapore Property Show 2020 to find your dream home!
About Kyle Leung
Content Marketing Manager @ 99.co
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