LONG a favourite with Singaporeans and expats alike, the extended stretch of Bukit Timah Road from Newton to King Albert Park is enjoying a revival that looks set to remain strong for some time.

Home prices have steadily increased over the last year, helped by benchmark prices from recent launches such as Duchess Residences on Duchess Road.

More new projects are already in the pipeline, giving home buyers plenty of choice and developers plenty of opportunity to set new price levels.

Savills Singapore's director of business development and marketing, Mr Ku Swee Yong, believes that in the most prime corridor of Bukit Timah, the area around Newton Circus and Balmoral, home prices could hit $2,800 per sq ft (psf) next year - unheard of for the district.

Currently, prices are hovering around $1,500 psf for most projects such as Balmoral 8 and Balmoral Residences, according to data from Savills Singapore. This is up almost 40 per cent from a year ago.

But upcoming good-quality developments such as Goodwood Residence on the site of the former Casa Rosita and a new project on the site of the former Elmira Heights could help push prices past this level, Mr Ku said.

From Farrer Road to Sixth Avenue, new launches on the sites of Leedon Heights and Farrer Court are also likely to give prices in this area a boost. Now averaging $1,206 psf, they could rise to $2,000 to $2,500 psf, predicted Mr Ku.

Further down, the segment between Sixth Avenue and King Albert Park could also strengthen in price, he added. The Tessarina condo has gone up about 62 per cent in value over the last year to an average of $1,192 psf now,  but the area could see prices hit $1,500 to $2,000 psf, he said.

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