Punggol and Sengkang Property witnessed the most increase in resale transactions between 2011 and 2020. Punggol had an increase of 181.5 percent, while Sengkang saw a 60.5 percent gain.
Understanding the market will assist you in determining the worth of the property and the aspects that contribute to the resale property’s value. The following article provides an overview of the Sengkang Property.
HDB Resale Flats in Sengkang
Sengkang is one of the most popular towns due to the high concentration of relatively new flats under ten and young families. These regions include outdoor recreational opportunities for exercise, public transportation links, and town centre shopping malls.
Sengkang Property witnessed the most significant increase in resale sales in 2020 compared to 2011, with a 60.5 percent increase, according to research conducted by Huttons Asia.
An HDB valuation is the only official means to determine the value of an HDB Resale apartment. One reason for the increase in transactions in areas such as Punggol and Sengkang is that these towns have a high concentration of BTO projects, many of which have recently achieved the five-year minimum occupancy term.
Resale Home-buyer Profile
Resale housing, whether owned or rented, may require some remodelling or repairs. Many homebuyers are reselling in Singapore, so how many competitors are there in the resale Sengkang Property market?
- The cash-strapped buyers are looking at HDB resale flats. This group includes downgrades from the private sector, which may be reacting to a softer labour market.
- Some empty nesters are older and wish to free up funds to assist their children in purchasing homes.
- Specific HDB resale buyers are also ex-en bloc owners who have amassed a sizable sum of money and can pay in full for an HDB resale apartment. They can then use the remaining capital for other investments or retirement purposes.
- Some also have no objection to purchasing somewhat older but more affordable HDB resale flats, if the balance lease can last them until the end of their lives.
- Couples who cannot wait four to five years to complete BTO flats may also investigate the resale market.
Despite the increasing supply of flats in these two estates, the elaborate vision to transform Punggol into the future Digital District was critical in maintaining flat prices in Punggol and Sengkang.
The Singapore Institute of Technology campus and JTC’s Business Park spaces will be developed as part of the URA Master Plan to establish Singapore’s first innovative district, home to critical growing industries for the digital economy.
Punggol and Sengkang will see a new history path, offices, logistic centre, and facilities over the next few years, all of which have attracted purchasers to Sengkang.
If the global economic picture stays favourable this year, the pandemic’s worst effects may have passed, and crucial economies may do better than they did last year. There is still adequate liquidity in the economy due to investment funds’ enormous capital reallocation from financial markets to real estate properties.
We anticipate that the volume of HDB resales will increase by up to 5% this year, to roughly 24,000 to 26,000 units. Prices of resale apartments may continue to rise by 2% to 5% throughout 2021. In 2021, the sale volume is expected to be between 23,000 and 24,000 apartments.
These newer flats have accounted for a significant proportion of resale transactions and driven higher prices, concerning whether the government will impose price controls on HDB resale flats. The government could adjust the financing element of the budget to slow price increases.
Majority work with a real estate agent whom will assist you in locating houses for sale that meet your criteria, showing you the homes, assisting you in submitting an offer to purchase, and helping you finalize or close the deal.
You can obtain additional information on buying a property by contacting a community agency. To locate assistance in your neighbourhood, visit Now Homes now for more details about Sengkang Property.