Woodlands BTO that has doubled - Analysis of units that have completed their MOP in Woodlands
- Propanalytics
- Sep 23, 2020
- 4 min read
Updated: Oct 15, 2020
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In the last few weeks, we did analyses of BTOs in Sengkang, Punggol, Tampines, Sembawang, Hougang and Queenstown/ Bukit Merah that have recently completed their MOPs. This week we take a look at Woodlands.
Woodlands 4RM BTO Launch Price vs Resale Price Analysis
Woodlands has generally had very affordable BTOs over the years. The median launch prices of 4RM units in these developments, that have recently completed their MOPs and were launched between 2008 to 2010, were between $210,500 (Champions Court) - $258,000 (Treegrove @ Woodlands) (C1).
Many of these projects made their way into the resale market at a price of around $400,000. Woodlands Dew and Woodlands Meadow, in the north-east of town, have on average yielded a 50% profit. Treegrove @ Woodlands, launched in the same year and around the same price but nearer to the town centre, have seen resale prices at a 10% premium when compared to the former two.
4RM units at Champions Court, which was launched in 2009 at a median price of just $210,000, have on average doubled in price (C1, C2).
Woodlands 5RM Launch Price vs Resale Price Analysis
It seems that the cluster of newer flats around Woodlands Meadow generally fetch lower resale prices within the town (C1, C4). 5RM units at Champions Court have been trending at about 10% more than units at the newer Woodlands Meadow. Given its better location, units here have gained about 85% since launch, compared to 50% gains at Woodlands Meadow (C5).
Units in Woodlands not only have very competitive launch prices, but also relatively low resale prices - 4RM resale units that have just completed their MOPs are going for under $400,000! Its perceived obscurity and inaccessibly are some reasons why. However, for those that prefer buying cheap, which also means taking lower loans resulting in lower interest expense, affordability of units in this area make them an enticing prospect. Given the broader plans for Woodlands to be transformed into a regional centre, it may not be long before such affordable prices, relative to other towns, become few and far between.
4RM Resale Prices by Lease in Woodlands
Some of the oldest 4RM (<70 years or remaining lease) units in Woodlands are located near Woodlands Checkpoint and Marsiling MRT Station (C9). 4RM units with less than 60 years of remaining lease have trended for only about $250,000 over the years. Some of these units are 97/98 sqm and are even cheaper than BTO launches in the town! Generally, 4RM resale units with a remaining lease of more than 60 years are trending from upwards of $300,000 while newer units that have been making their way into the resale market have been fetching close to $400,000 (C10).
Historical BTO Launches & Median Launch Prices of 4/5 RM Units in Woodlands
Over the years, most of the 4RM launches were priced roughly around $250,000 - $275,000 (C8). Some of the lower median launch prices are for units in the north-east (Woodlands Pasture I & II, Woodlands Glade) and Woodlands Glen in the south-east. The most expensive project in Woodlands has been Urbanville @ Woodlands and Champions Bliss that were launched in August 2020. The former is right smack in town while the latter is not too shabby either and within walking distance to Woodlands South MRT Station. 4RM units at the joint release were launched at a median price of $328,500 (C8).
Interestingly, 4RM units at Champions Green, just west of Champions Bliss, were launched at a price range of $244,000 - $295,000 in 2019 while 4RM units at Champions Bliss (together with Urbanville @ Woodlands) were priced at $276,000 - $381,000. Assuming Champions Bliss represents the lower end of that spectrum (given Urbanville @ Woodlands' location), 4RM units at Champions Bliss were a bargain (comparing $244,000 to $276,000) especially so given their proximity to each other (C7, C8).
(C"X") refers to chart number and is intended to point to the relevant chart where the data is drawn from. (*) indicates that data is from a chart that is not displayed.
Launch prices are indicated by the thin black bar in C1. This is the middle value of the launch price range indicated in BTO launch brochures. For the data savvy, the term median is used a bit loosely in this context. Note that some projects are launched together and separate pricing for individual projects is not provided.
HDB data was downloaded from data.gov.sg BTO launch price data was sourced from nas.gov.sg, hdb.gov.sg and other websites.
Data is as at 22/09/2020, i.e. whatever was made available as at the stated date. Transaction data above is up till August 2020.
Please contact us if there are factual inaccuracies. We will make changes, where necessary.
Please note that are a multitude of factors that affect prices of flats (renovation, floor, location, sqf etc.) and some of the analyses may not account for every factor.
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