This Prime Area In Singapore Still Has Condos Under $2M — Despite Nearby Prices Climbing Much Higher
To most Singaporeans, Bukit Timah and Newton are discernibly different neighbourhoods even though they’re located next to each other. The profile of Bukit Timah is associated with its array of greenery and untouched pockets of nature, but Newton is associated with its busy streets, proximity to prime shopping malls, and its famous hawker centre.
There is something that ties the two locations together; each of their housing markets are established and among the most expensive in Singapore. Both locales also benefit from proximity to renowned schools, mature amenities, and quick access to the city.
Some property buyers ask how similar, or far apart, are property prices in these two areas? And what are the differences we can expect to see when it comes to the resale performance of the condos in each area?
In this week’s deep dive, we’ll look at the nuances behind the performance of the condos in both areas, as well as the common trade-offs encountered by buyers who shortlist projects in Bukit Timah and Newton.
The challenge for many buyers today isn't access to information.
It's interpreting that information in a way that makes sense for their finances, goals, and stage of life.
Over time, that's also why we decided to work with agents who shared the same data-driven and advisory-led approach behind our editorial, consultants who could help readers think through decisions more objectively, rather than simply push transactions.
Today, the team has worked with more than 2,000 clients across over $5B in property transactions.
First, let’s look at the overall performance of private homes in the central region
This is a broad overview, which will frame our general expectations for the planning areas in this region. The following are based on sub sale and resale transactions over the past decade.
| Year | Central Region | East Region | North East Region | North Region | West Region |
| 2015 | $1,448 | $969 | $976 | $839 | $927 |
| 2016 | $1,518 | $946 | $961 | $831 | $904 |
| 2017 | $1,561 | $957 | $998 | $832 | $949 |
| 2018 | $1,646 | $1,028 | $1,069 | $843 | $1,017 |
| 2019 | $1,688 | $1,032 | $1,087 | $858 | $1,021 |
| 2020 | $1,617 | $1,023 | $1,085 | $850 | $1,029 |
| 2021 | $1,681 | $1,108 | $1,149 | $968 | $1,147 |
| 2022 | $1,807 | $1,227 | $1,294 | $1,083 | $1,267 |
| 2023 | $1,899 | $1,367 | $1,444 | $1,209 | $1,400 |
| 2024 | $1,982 | $1,437 | $1,527 | $1,241 | $1,510 |
| 2025 | $2,051 | $1,478 | $1,597 | $1,310 | $1,580 |
| Annualised | 3.54% | 4.31% | 5.05% | 4.56% | 5.47% |
We can see that prices in the Central Region tend to trail other regions in terms of percentage price growth, especially when it comes to $PSF prices. Our view is that this isn’t anything alarming, instead it’s a natural result since most of the condos in this area tend to start at higher initial selling prices.
1 Comments
It would be useful to show the median age of the inventory in each area.