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- Please note that changes/ update based on available information will be made from time to time, readers are advised to check on this page regularly.
- Analysis was done based on available data at the time of publishing of this review.
For the price comparison analysis, we will be using 4-rm and 5-rm launch price data from Keat Hong Pride (Choa Chu Kang), West Ridges @ Bt. Batok as well as West Scape @ Bt. Batok to compare with the recent Nov 2018 BTO in Tengah – Plantation Grove (Phase 1 of Tengah residential development) which comprises 1,620 units in total. Since the size of the units may be different by no more than 1sqm, we have made an adjustment to match both at the same size to reflect a more accurate price comparison.
What about development which is further away from MRT station / future MRT station need to pay for? To illustrate this, we compare the most expensive 5-rm stack at Tengah Plantation Grove vs most expensive 5-rm stack at West Scape @ Bt. Batok (launched in 2017 and also located along the fridge of Tengah township) which is more than est. 1km away from either current Bt. Gombak MRT station (NS3) or future Tengah Plantation MRT station (JE1). The price difference shown a larger quantum of S$46,500 - S$54,800 (11.0% - 13.0% compared to 2.0% - 4.0% at West Ridges @ Bt. Batok). Note that we only use units from level 8 and above as sample.
A common understanding of new public housing pricing is that launch price will be pegged to recent surrounding resale transaction (as shown in the graphic). Based on the given information, a 5-rm comparable resale prices in the vicinity of Tengah is in the range of S$456,000 (115sqm) – S$598,000 (118sqm). This price range translate to S$368psf – S$470psf compared to the most expensive 5-rm unit in Tengah Plantation Grove which is at S$379psf (2.9% more expensive than the lower range of current 5-rm resale price). The upper range of a comparable resale unit which is at S$470psf is at least 25% more than the most expensive 5-rm at Tengah Plantation Grove (Note that the unit is a 118sqm unit which is almost comparable to a 120sqm 3-gen unit at Plantation Grove). Thus, this upper range price may not truly reflect the current resale pricing for 5-rm. The good news is the 3-gen unit at Plantation Grove is cheaper in terms of psf (per square foot) price compare to the most expensive 5-rm at the same development.
Next, to understand the price difference compare to Choa Chu Kang which is also located to the north of Tengah township. We compare the most expensive 4-rm stack at Tengah Plantation Grove compare to the most expensive 4-rm stack a Keat Hong Pride (launched in 2012). The price shown a larger difference of S$75,700 - S$77,100 (29%-30%. Note that we only use units from level 8 and above as a sample). Keat Hong Pride is nowhere near to any MRT station and at least 800m away from the nearest LRT station, Keat Hong LRT station (BP3). The same comparison illustrates that Bukit Batok seems to be priced at higher price compare to Choa Chu Kang. Thus, any neighbouring resale comparison would most probably come from Bukit Batok as current Tengah development phases are concentrated to the East of the township.
Base on the given recent resale information (refer to graphic), a 4-rm comparable resale prices in the vicinity of Tengah is in the range of S$370,000 (86sqm) – S$445,000 (92sqm). This price range translate to S$399psf – S$449psf compare to the most expensive 4-rm unit in Tengah Plantation Grove which is at S$347psf (14.9% more affordable than the lower range of current 4-rm resale price).
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