New projects under construction are expected to add 2,319 homes to the 12,457 private properties and 496 executive condominium (EC) units there, experts said. These include recently launched projects like Boathouse Residences, Riversails, Parc Vera and the EC Heron Bay.
The abundance of Housing Board flats in the area - 48,488 in total - means there is a ready pool of upgraders looking for private homes there.
Resale transactions of private homes in Hougang have been holding steady, with under 200 units sold a quarter since the third quarter of 2011.
The latest project in the estate is the mixed-development Midtown Residences, developed by an Oxley Holdings-led consortium.
The 160-unit development's proximity to the Hougang MRT station and bus interchange also adds to its appeal to investors, who can command competitive rentals because of its location.
Units at Midtown Residences were recently sold at a premium price of $1,220 psf to $1,660 psf,
Credit from The Straits Times - 18 May 2013