Read on to get expert analysis about the developed heartland suburb of Ang Mo Kio.
Image courtesy of Singapore Tourism Board.
Ang Mo Kio is considered by property experts to be a developed HDB estate. “It is a mature estate”, says Richard Wong, Division Head with international property consultants, Savills Residential Pte Ltd, comprising 40,000 household estates. It contains established facilities, including retail options, such as Ang Mo Kio HUB, which comes complete with supermarkets, shops, gyms, banks, etc, as well as eating places, health clinics, public services, such as post offices, and the other accoutrements to making life in a HDB estate as convenient as possible for residents.
In addition, says Wong, it also has good educational facilities, including CHIJ St. Nicolas Girl’s School, Anderson Primary school, as well as Nanyang Polytechnic.
This attractiveness, however, has seen property prices rise. Ang Mo Kio’s property prices are consistently above the national average, when based on the prices of resale HDB units in the past year.
|Ang Mo Kio||–||$235,000*||$310,000||$418,000||$580,000||–|
(Source: HDB website.)
Ang Mo Kio flats, being slightly older, tend to be larger than newer HDB developments, such as those in Yishun. The layout is usually in a traditional HDB style, with bedrooms opening directly on to the living room and the common toilet accessed via the toilet. The newer ‘condo layout’, in contrast, seen in HDB units built in the last 10 years or so, usually has the bedrooms and common toilet opening off a short hallway away from the living area.
Ang Mo kio, Wong believes, will also see major upgrading for many blocks, resulting in a new facelift, lift access for every floors, additional rooms and a cleaner environment. New high rise HDB flats are also being buildt closer to AMK Hub, after some of the older blocks went for enbloc in recent year.
The popularity of AMK means strong demand, says Wong, and will see property prices continuing to rise for units in a central location, within proximity of good schools and with easy access to public transport. In the private market, developments such as The Centrio is seeing record-breaking prices at $1200 psf. Another nearby Ang Mo Kio development, Grandeur 8 should see a good rental return of 5%. In the HDB rental market, Wong believes that Ang Mo Kio units should see a return of 5% rental yield.
The area’s accessibility to the CBD, via public transport and the Central Expressway, as Wong says, “it is also well known for being a good, convenient location, which is only a 10 minute drive or train ride to the Orchard Road and provides easy access to the rest of the island”, will continue to make it an attractive destination to first time home buyers in particular.
How much for a three-, four, and five-bedroom in Ang Mo Kio? Find out in our District Guide, here.
Read Ang Mo Kio residents’ views on living in the district, here.