FoundOnEdgeProp: Four-room HDBs in Punggol below $551K
By Elizabeth Choong
/ EdgeProp Singapore |
There are a number of four-room flats in Punggol with affordable asking prices. (Photo: Albert Chua/EdgeProp Singapore)
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Singapore (EDGEPROP) – Punggol has come a long way since the government started developing the town about 20 years ago. Since then, it has become a popular residential enclave for couples and their young children.
The upcoming Build-To-Order (BTO) exercise in February will feature a project in Punggol. The project is located near Sumang Lane and is expected to feature 960 flats. The flats are anticipated to be in demand because Punggol is a popular residential town, and there were no BTO projects in Punggol last year. Unsuccessful applicants for the BTO flats or those with more urgent housing needs might want to consider turning to the resale market. We have combed through our listings of HDB flats in Punggol and found several four-room flats with asking prices of $550,000 or less.
Affordable flat near Riviera Interchange Station
At the time of writing, there was a listing for a four-room HDB flat near Riviera LRT Station with an asking price of $495,000 ($511 psf). The flat is on a mid-floor and is located at 643 Punggol Central with a tenure that started in 2005.
The nearby Riviera LRT Station will be an interchange station when the Cross Island Line becomes operational in 2032. Additionally, the flat is a short walk away from Greendale Primary School, Horizon Primary School, and Waterway Primary School. The three primary schools in the vicinity should make the flat very appealing to parents with young children.
Source: EdgeProp LandLens (as at 23 January 2024)
Cove LRT Station: Balancing convenience and affordability
There were two listings for four-room flats near Cove LRT Station with asking prices of $525,888 ($969 psf) and $550,000 ($968 psf). The LRT station is only one stop away from Punggol MRT Station, which has many nearby amenities, including Waterway Point, One Punggol, and Punggol Bus Interchange. Both flats are also located a short walk away from Edgefield Primary School.
Source: EdgeProp LandLens (as at 23 January 2024)
The flat with the lower asking price of $525,888 is located at 199B Punggol Field. Cove LRT Station is located across the road from the flat. Other amenities that are a short distance away include Punggol Field Market and Food Centre, Edgefield Primary School, and the Tampines Expressway.
The listing with the higher asking price of $550,000 is located at 195D Punggol Road. The higher asking price could be because it is newer than the flat at 199B Punggol Field by four years. The tenure for 195D Punggol Road started in 2007. Although, the flat at 195D Punggol Road is located further from Cove LRT Station, as well as the market and food centre, the amenities are still within walking distance.
Mee Toh School at your doorstep
Buyers might want to consider the flat at 134 Edgedale Plains. The high-floor flat has an asking price of $550,000 ($561 psf) and a tenure that started in 2003.
The flat might appeal greatly to parents of young children because the popular Mee Toh School is a short walk away. The flat also has five other primary schools within a 1km radius, namely, Edgefield Primary School, Greendale Primary School, Horizon Primary School, North Spring Primary School and Rivervale Primary School.
Besides being surrounded by numerous schools, the flat is also near Coral Edge LRT Station, Tampines Expressway and Punggol Plaza.
Source: EdgeProp LandLens (as at 23 January 2024)
Price trends for four-room HDB flats
Since 2014, the average price for four-room HDB flats in Punggol has shown the strongest price growth of 37% compared to their counterparts in the North East Region (33%) and Singapore (34%). Furthermore, the average price for four-room flats in Punggol ($624 psf) has consistently trended above the average price for the North East Region ($594 psf) and Singapore ($583 psf). This could be because Punggol is a relatively young town with comparatively newer HDB flats. It is also noteworthy that the listings cited in this article have asking prices that are significantly lower than the overall average price for four-room flats in Punggol.
Source: EdgeProp Market Trends (as at 23 January 2024)
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