Hume MRT Station
The Land Transport Authority has announced on 14 Jan 2021 that the long awaited Hume Station along Hume Avenue will be opening in 2025. This is after they have just awarded the contract to complete the civil works for the Downtown Line Hume station to JSM Construction Group Pte Ltd. This new station will serve existing residential developments along Hume Avenue. So what does that mean for property prices along Hume Avenue?
Hillview Prices Rises in 2015
There is always the old saying that condominiums along the stretch of Hume Avenue are the poor cousins of those along Hillview Avenue which are closer to the operating Hillview Station. Prices along that stretch especially Glendale Park, Hillview Heights and to a certain extend, Hillview Park and Hillington Green have seen prices increase with the opening of Hillview Station in Dec 2015.
Pre-Hillview Station opening days, those condominium nearby are transacted in the range of $950-$1,050psf for a freehold properties. In 2021, the psf basic have rise to $1,100psf to $1,300psf. The attractiveness of freehold tenure, spaciousness and the convenient of the Downtown Line elevate the prices around Hillview vicinity.
The above chart is the prices trend for Glendale Park which is located next to Hillview MRT station. The prices have been on an upward trend since 2008.
Hume Avenue Property Prices Set To Rise
Condominium along Hume Avenue include Hume Park 1 & 2, Summerhill, Hillview Green, The Hillside, Symphony Heights and Parc Palais would stand to gain the most with the opening of Hume Station in 2025. This is about 4 years from the writing of this article. I am pretty sure that prices along this stretch has already rises significant since the announcement of the Hume MRT station back in 2014.
Prices of Hume Park 2 has bottomed in 2009 and rises close to $1,300psf in 2021.
If you are skeptical regarding if prices can continue to rises. Just look at the prices of the condominiums along Bukit Timah Road. Maple Woods condominium is a good example. Maplewoods prices have rises significantly since the opening of King Albert Park MRT Station in Dec 2015. If Maple Woods prices can achieved $1,800psf. Then prices along Hume Avenue is definitely under value just because it is 2 MRT stop away? By the way, Maple Woods and condominium along Hume Avenue belong to the same District 21.
Moreover, properties along Hume avenue are located in District 21 which defer from properties along Hillview Avenue which is classified under District 23. Owners living along Hume Avenue can also avoid the ERP along Upper Bukit Timah Road when they travel to City by going via Bukit Batok East Avenue 2 and 6. Lastly, properties along Hume Avenue are nearer to City. The opening of the Hume Station and the future plans for the green corridor will only enhanced the living environment for Hume residents. Record prices achieved for new launches nearby have make old condominiums in Hume Avenue even more attractive. Prices are set to raise. Stay tune!
My Past Transaction along Hume Avenue
This Hume Park II 3 bedroom unit was sold in Jan 2020. I remember one of the common bedroom has the view of the junction of Hume Ave and Upper Bukit Timah Road where the future MRT station entrance is located. Many buyers are still unaware that a Hume MRT station exist then! The most obvious tell tale sign was the omission of “DLT4” on the MRT map!
This spacious 3 bedrooms that measures 1,389sqf was sold in Nov 2020. This high ceiling premium stack with balcony was highly sourced after. It was sold in 9 days! When I was marketing this unit. I shared that the future Hume MRT Station is a catalyst for further upside.
Summerhill prices has been increasing since 2007. Prices will continue to rise with the opening of Hume Station in 2025.