The prices in real estate in Hougang, in the 19 North East, Hougang region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Hougang has increased strongly during the last 6 months. In May, the average price per sq.feet was S$ 4,169. In June this price pretty much remained the same at a value of S$ 4,087 per sq.feet. In the following two months the price per sq.feet has increased 110 %, going from S$ 4,128 to S$ 4,559.5 per sq.feet. The price per sq.feet has had a considerable increase of 130 % 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$ 4,343.75 to S$ 5,646 during September, and October.
Based upon to the price in Hougang (cities), these have remained the same in the last 6 months. In our first sample month during May, the average price is S$ 627,170. In June This price remains at S$ 618,506. In the following two months the average price has remained the same with regard to the previous two months from S$ 622,838 to S$ 624,615.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of S$ 623,726.75 and S$ 617,043 between September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of S$ 610,918 they are 39 % more affordable than the average price for Hougang. The properties with the highest average price have 4 bedrooms, Their price is 44 % more costly than the average. After that we have properties with 3 bedrooms priced at S$ 649,018.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of S$ 5,823 / sq.feet, with an average S$ 6,180 / sq.feet price in Hougang. The properties with the highest average prices have 1 bedroom. They are 36 % more expensive than the average followed by properties with 2 bedrooms with a price at S$ 6,231 / sq.feet.
The graph displaying the average prices displays the property type "HDB House" as the most affordable one. At an cost of S$ 610,918 it is 1 % cheaper than the average price in Hougang. "Condominium" is seen as the second most affordable property type. The dearest property type is "Detached House" followed by "Condominium". At a price of S$ 1,337,884 it is 955 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condominium" at an average cost of S$ 1,132 / sq.feet followed by "Detached House" priced at S$ 1,162 / sq.feet. "HDB House" is the most costly type of property with a S$ 6,232 / sq.feet cost followed by "Detached House" with an average price of S$ 1,162 / sq.feet.