Punggol and Sengkang Residents – Expect Your Home Value to Go Up! Here’s Why

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Punggol and Sengkang Residents – Expect Your Home Value to Go Up! Here’s Why

Maelyn Lagman

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If you live in Sengkang or Punggol, your choice to invest in these two towns may soon pay off as new data by Ohmyhome Research shows potential gains for home sellers in the near future. It all boils down to supply and demand. Let’s break it down.

Expected supply of HDB flats in Sengkang

Year Completed# of 2-room Flats Sold# of 3-room Flats Sold# of 4-room Flats Sold# of 5-room Flats Sold# of Executive Flats Sold
20212621410931958245854463
20223154421332348248584463
20234228438733026254324463
20244665447933242259804463
20254665447933242259804463
20264665447933242259804463

Expected supply of HDB flats in Punggol

Year Completed# of 2-room Flats Sold# of 3-room Flats Sold# of 4-room Flats Sold# of 5-room Flats Sold# of Executive Flats Sold
20213525566224395175521126
20224602591625218180701126
20234989601425551181921126
20246209620426364186561126
20256209620426364186561126
20266209620426364186561126

Over the next three years there will be no Executive Apartments to be expected in these two areas, and lesser 4-room and 5-room flats will be built.

Instead, there will be more 2-room and 3-room flats to cater to the changing demand of Singaporeans as singles, elderly, and married couples without children now make up the majority of home buyers in the market. 

With a reduced supply of 4-room and 5-room flats, and Executive Apartments, these homeowners can expect a steeper growth in home value, especially given the popularity of Sengkang and Punggol today. You can now easily track your home valuation as it rises using Homer AI, your new Home Ownership & e-Valuation Report AI tool built by Ohmyhome, trained to provide you with only the most crucial insights on your home. 

Both towns have excellent connectivity with convenient transportation options for commuters and the Tampines Expressway (TPE) and Kallang-Paya Lebar Expressway (KPE) for those who drive. Both towns also boast excellent educational institutions, including reputable primary and secondary schools, as well as international schools.

It’s also important to note that the North-East region, where Sengkang and Punggol are located, is the second largest and most densely populated in the whole of Singapore, indicating a high demand for properties in this area. 

Additionally, there will be no new supply of HDB flats in these two towns after 2024. This is due to the lack of BTO flats slated to be launched in Sengkang and Punggol; the only BTOs to be expected in the area are those that were affected by construction delays during the pandemic. 

Notable new BTOs

2-room3-room4-room5-room3-GenTotalExpected Completion
Punggol point Cove50492312234301172March 2024 (Covid Delays)
Punggol Point Wood38798333122/940September 2023 (Covid Delays)
Punggol Crown71698501230/1545March 2024 (Covid Delays)
Rivervale Shores1074174678574/2500September 2023 (Covid Delays)
Fernvale Vines4379221614840933January 2024 (Covid Delays)

Due to Covid, all of these projects have been pushed back with the latest batch of BTOs expected to be completed in March 2024. 

With the lack of new BTO launches resulting in a reduced supply of HDB flats in Sengkang and Punggol, coupled with the expected surge in demand from eager buyers, property prices in these areas could soar to rival housing prices in mature estates, and therefore long-term growth for Sengkang and Punggol is expected to be positive. 

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We have more insights like this for you every week with Homer AI – simply log in and you’ll be updated with the current market trends in Sengkang and/ or Punggol.

If you have any questions, feel free to drop us a message on WhatsApp or chat with us via our Live Chat at the bottom, right-hand side of the page.

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