The rent prices in real estate in Hougang, in the 19 North East, Hougang region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Hougang has risen strongly during the last 6 months. In April, the average price per sq.feet was S$ 3.38. In the following month the price per sq.feet fell to S$ 3.13. The price for the following two months in (June, July) had a considerable rise of 2764 %. The price per sq.feet has had a considerable fall of 64 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of S$ 46.61 to S$ 29.78 during August, and September.
When referring to the price in Hougang (cities), this has fallen in the last 6 months. In our first sample month during April, the average price is S$ 2,815. In May This price remains at S$ 2,894. During the following two months (June, July) the average price fell 85 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 89 %, going from S$ 2,646.5 to S$ 2,357.5 in August and September.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of S$ 2,495 they are 48 % more affordable than the average price for Hougang . The properties with the highest average price have 4 bedrooms, Their price is 87 % more expensive than the average. After that we have properties with 3 bedrooms priced at S$ 2,823.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of S$ 2.59 / sq.feet, with an average S$ 3.4 / sq.feet price in Hougang. The properties with the most expensive average prices have 1 bedroom. They are 42 % more expensive than the average followed by properties with 2 bedrooms with a price at S$ 3.27 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of S$ 2,495 it is 72 % more affordable than the average price in Hougang. "Condominium" is seen as the second most affordable property type. The most expensive property type is "HDB House" followed by "Apartment". At a price of S$ 3,110 it is 383 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Detached House" at an average price of S$ 3 / sq.feet followed by "Apartment" priced at S$ 3.37 / sq.feet. "Condominium" is the most expensive type of property with a S$ 1,003 / sq.feet value followed by "House" with an average price of S$ 5 / sq.feet.