District 3 (Queenstown, Tiong Bahru) performance over the last 5 years (2021)

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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 3 consists of the locations Queenstown and Tiong Bahru.

Average per square feet prices for properties in district 2 based on their age and tenure (freehold or 99 year) is listed below.

The most expensive properties are those that are 99-years and uncompleted (under construction) at S$2,213 psf, followed by those that are less than 5 years old and 99-years old at S$1,866 psf.

This is followed by those that are freehold and more than 10 years old at S$1,492 psf then those that are 99-years old and between 5 and 10 years old.

The cheapest properties are a mix between freehold and 5-10 years old at S$1,361 psf and 99-years and S$1,377 psf.

In terms of price trends, price of non-landed properties have been largely rising.

The latest value in Feb 2021 reads S$1,967 psf, with 30 non-landed units transacted in the month.

Non-landed property prices have been between the range of S$1,272 psf (Apr 2014) and S$2,218 psf (Jul 2019).

In terms of capital gains over the last 5 years, Emerald Park has seen the largest gain of 26.5%, with latest prices of S$1,230 psf compared to a historical price of S$972 psf.

This is followed by The Regency at Tiong Bahru with a 26% gain, with current prices of S$2,016 psf compared to a historical price of S$1,600 psf.

The Anchorage is third with a capital gain of 24.3%, with current prices of S$1,419 psf compared to a historical price of S$1,142 psf.

Majority of the projects district 3 have experienced a capital gain, and only 2 have experienced negative price gain.

These 2 projects are Ascentia Sky (-1.6%) and Alexia (-8.2%).

In terms of rental yield, Alexis has the highest at 4.0%.

The average rental yield in district 2 is approximately 3.3%.

There are 6 properties under construction in the district, namely The Landmark, Avenue South Residence, Stirling Residences, One Pearl Bank, Riviere and Margaret Ville.

In terms of percentage of units remaining at these projects, they are 70% (The Landmark), 40% (Avenue South Residence), 4% (Stirling Residences), 50% (One Pearl Bank) and 80% (Riviere).

Margaret Ville was fully sold in June 2020.

Generally, the higher the percentage of units left unsold, the higher chance there is the developer will offer attractive discounts to sell the units off quickly.

In this regard, Riviere and One Pearl Bank could possibly have reduced prices as the developer may want to sell units off quickly.

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.).

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    Most of the buyers in district 2 are Singaporeans comprising 80.9% of recent purchases.

    PRs make the second largest group of buyers at 14.4%, followed by foreigners at 4.6%.

    There is just a slightly higher proportion of purchasers with a private property address 60.8% than with HDB addresses at 39.2%

    The priciest project in district 3 is Riviere with average prices of S$2,567 psf. This is followed by One Pearl bank at S$2,449 psf.

    The third is The Landmark where prices are 15% lower than the top 2, with prices of S$2,149 psf.

    Avenue South Residence is also competitively priced at S$2,109 psf, as is Stirling residences at S$,2029 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.

    District 1

    District 2

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