Housing prices of District 5’s Clementi has long been affected by its sheer distance from Central Singapore, where the industrial, tertiary institution and shopping districts can be found.
(Prices in Clementi flats continue to be stable and sustainable thanks to a facelift that is giving the estate new amenities, malls and new property developments. Image courtesy of flickriver.com)
The newly constructed Circle Line stations such as Botanic Garden, Farrer Road, Holland Village and Telok Blangah have also made Clementi an ever-increasing point of transit and commuters’ calling stop. A new 8100 sqm Integrated Transport Hub was opened in November, linking the bus interchange, MRT station and adjoining commercial developments. The new bus interchange will reduce the walking time by some 2.5 minutes. Clementi estate is also popular because of its strategic location in between the CBD, R&D centres in Buona Vista and industrial zone in Jurong.
Average PSF
(Source: StreetSine's Property Analytics)
The above graph shows that the average price per square foot (psf) of HDBs found in this Western Region estate has remained consistently and remarkably on par with that of all the national average. From this, we can see that the demand for purchasing new and resale flats in Clementi region is equal to that of the demand for flats on the whole in other estates in the country.
Median Resale Price
(Source: StreetSine's Property Analytics)
The median resale price of flats in Clementi stay steep despite the dip in overall median prices of flats in Singapore. This could be a sign that the estate remains a lucrative and high-in-demand option because of its evergreen residential feel and proximity to offices and buildings in Buona Vista and Jurong. Further demonstrating the demand for units in Clementi, a new Design, Build and Sell Scheme (DBSS) project, Trivelis, was also launched in October this year at Clementi Ave 4, about five minutes from Clementi Mall and the MRT station.
Clementi/Singapore Statistics
Property developers are preparing bids for a 1.27 ha site at the junction of West Coast Link and West Coast Crescent – situated just opposite West Coast Park. The area has a Gross Floor Area (GFA) of 35,456 sqm, which can yield 360 units. Industry insiders tell The Straits Times that the natural offering found in nearby West Coast Park and Clementi Woods will paint a greener and more open scenery for future residents. Additionally, with neighbouring Japanese schools Waseda Shibuya High School and The Japanese Supplementary School, the location will surely gain popularity among the local Japanese community
Overall, the estate stands to sustain the resale and purchase price of its flats due to its amenities including a variety of neighbourhood malls – City Mall, Clementi Mall, West Coast Plaza and sports facilities such as Clementi Stadium, West Coast Park and Clementi Woods and schools of all educational levels including the National University of Singapore (Kent Ridge), NUS High School of Mathematics and Science, Anglo Chinese Junior Colleage, INSEAD, ITE College West (Clementi), Nan Hua High, New Town Secondary and Fairfield Methodist Secondary.
The area also boasts late night dine-out places, an assortment of places of workship and various community centres, country clubs and recreation centres. All these give the estate a vibrant, robust feel that is alluring and appealing to potential homebuyers or families wishing to settle into a new estate.
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Related Categories: Location Guides, Country Guide - Singapore
Tags: Botanic Garden MRT, Circle Line, City Mall, Clementi, Clementi Mall, DBSS, District 5, Farrer Road MRT, HDB, HDB purchase, HDB resale, Holland V, Holland Village, Median resale, New homeowners, new MRT station, Purchase price, Telok Blangah, West Coast Plaza, West of Singapore
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