Ang Mo Kio is one of the most popular and mature residential estates in Singapore, with a mix of public and private housing options. It is well-connected by public transport, with two MRT lines (North-South and Circle) and several bus services. It also boasts of various amenities, such as shopping malls, parks, schools, and community centres.
But how much does it cost to buy or rent a property in Ang Mo Kio? And what are the factors that affect the property prices in this estate? In this article, we will explore the current property price trend for Ang Mo Kio, based on the latest data from various sources.
HDB Resale Prices in Ang Mo Kio
According to the Housing and Development Board (HDB), the median resale prices by town and flat type for resale cases registered in the 2nd Quarter of 2023 are as follows:
| Flat Type | Median Resale Price |
|---|---|
| 2-Room | – |
| 3-Room | $380,400 |
| 4-Room | $520,000 |
| 5-Room | $697,500 |
| Executive | – |
Compared with the previous quarter (1st Quarter of 2023), the median resale prices for 3-room, 4-room, and 5-room flats in Ang Mo Kio have increased by 0.1%, -14.17%, and -11.14% respectively. We can see that the resale prices for HDB flats in Ang Mo Kio have generally declined over the past quarter. For instance, the median resale price for a 4-room flat in Ang Mo Kio was $605,900 in Q1 2023, which is about 14% lower than the current price of $520,000.
Some of the possible reasons for this downward trend include:
- The aging population and infrastructure in Ang Mo Kio may reduce its attractiveness to younger buyers.
- The increasing supply of new HDB flats in nearby towns, such as Bishan, Toa Payoh, and Sengkang, may offer more affordable and modern options to buyers.
- The cooling measures implemented by the government to curb speculation and oversupply in the property market, such as the Additional Buyer’s Stamp Duty (ABSD) and the Loan-to-Value (LTV) limit.
Private Property Prices in Ang Mo Kio
The private properties are for sale in Ang Mo Kio, with an average asking price of $1,445 psf. These properties range from condominiums to landed houses, with different sizes and features.
Some of the most popular private properties in Ang Mo Kio include:
- Thomson Hills Estate: A freehold landed development with spacious terraces and semi-detached houses psf.
- The Panorama: A 99-year leasehold condominium with 698 units and full facilities.
- Grandeur 8: A 99-year leasehold condominium with 579 units and full facilities.
Compared with other private properties in Singapore, Ang Mo Kio offers a relatively affordable option for buyers who are looking for a convenient and established location. However, private property prices in Ang Mo Kio are also subject to fluctuations depending on the market conditions and demand-supply factors.
Some of the possible factors that may influence private property prices in Ang Mo Kio include:
- The proximity to the Central Business District (CBD) and other employment hubs, such as Seletar Aerospace Park and Woodlands Regional Centre.
- The availability of amenities and recreational facilities, such as AMK Hub, Bishan-Ang Mo Kio Park, and Lower Peirce Reservoir Park.
- The future development plans for Ang Mo Kio, such as the upcoming Thomson-East Coast Line (TEL) stations and the rejuvenation of town centers and neighborhoods.
Conclusion
Ang Mo Kio is a mature and popular residential estate that offers a variety of property options for buyers and renters. However, property prices in Ang Mo Kio are not static and may change over time depending on various factors. Therefore, it is important to do your research and analysis before making any property decisions.
If you are keen to know more about your property valuation, you can contact me at +65 9771 9040 for a free valuation now.
