This is the second part in a series of posts where we go through all 28 property districts in Singapore and show you the latest statistics for each district.
We’ll go through the average prices in each district, the historical transaction prices and volumes, capital gains and rental yields of various projects and other property market information so that you get a deeper appreciation of the district.
For those who are unaware, URA lists out all 28 postal districts together with their postal sector (which is the 1st 2 digits of the 6-digit postal codes), and general location.
District 2 consists of the locations Anson and Tanjong Pagar.
Average per square feet prices for properties in district 2 based on their age and tenure (freehold or 99 year) is listed below.
Most expensive properties are those that are uncompleted and freehold at S$2,706 psf. This is followed by freehold properties less than 5 years old at S$2,372 psf, then those that are 5 to 10 years old at S$2,108 psf then those that are more than 10 years old at S$1,843 psf.
For 99 year leasehold projects, the most pricey ones are those that are less than 5 years old at S$2,739 psf.
This is even higher than uncompleted freehold projects in district 2 and suggests that there could be value found in uncompleted freehold projects in the district.
Next more pricey 99 year leasehold projects are those that are 5-10 years old at S$2,074 psf then those that are more than 10 years old at S$1,447 psf.
There are no uncompleted projects in the 99 year leasehold segment.
In terms of price trends, price of non-landed properties have been largely flat.
The latest value in Jan 2021 reads S$1,936 psf, with 13 non-landed units transacted in the month.
Non-landed property prices have been between the range of S$1,420 psf (Feb 2019) and S$2,836 psf (Jan 2020).
In terms of capital gains over the last 5 years, Spottiswoode Park has seen the largest gain of 31.5%, with latest prices of S$801 psf compared to a historical price of S$609 psf.
This is followed by International Plaza at 17.8% gain, then Craig Place at 2.2% and Skysuites @ Anson at 0.8%.
At the negative end is Altez which had a -0.2% loss, followed by Icon at -4.1% and The Beacon at -17.1%.
In terms of rental yield, Spottiswoode Park has the highest at 4.0%. This is likely due to it’s low price per square foot and old age of the development (TOP in 1989).
The next highest rental yield is Altez and The Beacon at 3.6% each, followed by The Lumiere, Icon and 76 Shenton at 3.5%.
At the lower end of the rental yield range is Spottiswoode Residences with a yield of 2.5%.
The average rental yield in district 2 is approximately 3.3%.
There is only one project that is under construction in district 2 – Sky Everton.
There are about 15% of units remaining at Sky Everton for sale as at the time of this writing. Do contact us if you are interested in finding more about this project. Visits to showflats are strictly by appointment only. Do feel free to contact us also if you are generally interested in buying/selling any unit (new condo, resale, HDB, landed etc.).
Most of the buyers in district 2 are Singaporeans.
Among uncompleted projects (which is only Sky Everton at this time of writing), 87% are Singaporeans, followed by PRs at 9% then Foreigners at 4%. See the pie chart on the left.
Among completed projects, Singaporeans form 69.8% of the buyers, followed by Foreigners and PRs closely matched at 13%. See the pie chart on the right.
It is not a surprise that most of the buyers of uncompleted and completed properties have an existing private instead of HDB address.
Among uncompleted properties, 67.5% of buyers have a private address, while it is 59.9% for completed properties.
The priciest project in district 2 is Wallich Residence at an average price of S$3,063 psf, followed by Sky Everton (under construction) at S$2,706 psf then Spottiswoode Suites at S$2,504 psf.
Look out for upcoming posts in this 2021 series where we bring you through all 28 districts in Singapore!
Here are the links for other posts in this series.