Condos in Tampines are hitting new price highs

By
/ EdgeProp
|
March 14, 2019 6:16 PM SGT
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With over a quarter of a million residents, Tampines is one of the most popular and populous residential estates on our tiny island.
While HDB flats make up the bulk of the planning area, there is a growing cluster of condos in Tampines, particularly along Tampines Avenue 10, near Tampines MRT station and Tampines West MRT station (which started service in October 2017).
The revival of suburban localities, the establishment of new growth corridors and new MRT lines in the region has clearly catapulted demand for properties in the area, and this can be observed in the rising prices and transactions in both the new sale and resale segments.
Between 2009 and 2018, transacted prices of new sale condos increased by over 106%, from an average of $663psf to $1,369 psf.
The same can be observed in the resale segment, in which prices saw a 68% increase over the last 10 years.
10-year pricing trend of Tampines condos
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*2019 figures are derived from transactions occurring in the first two months of the year. Source: URA, EdgeProp.sg
Volume of sales transactions of non-landed private residential properties in Tampines has also been on a consistent uptrend in recent times. This is also observed in both new sale and resale segments.
Volume of sales transactions of Tampines condos in the last 10 years
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*2019 figures are derived from transactions occurring in the first two months of the year. Source: URA, EdgeProp.sg
Economic potential and enhanced amenities part of the allure
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