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Which HDB Towns Have the Most Affordable Resale Flats in 2022? Date: 11th October 2022



When looking for a new house in Singapore, the majority of homeowners will most likely consider these two key factors before making a purchase: location and price – which is likely to be weighing heavily on the minds of home hunters due to current market conditions.


In addition to Singapore's property market currently being in the middle of a boom, HDB resale home prices have also risen on the back of a slowdown in the construction industry, which has contributed to the shrinking supply of move-in ready flats around the island.


Now, if you are still reading, you are probably wondering, “So, where can I find an affordable HDB resale flat in Singapore?” Look no further, because the best local neighborhoods to begin your search are listed below.


Where to Find the Most Affordable 3-Room Resale Flats in Singapore


Looking at recent median transacted prices, the Top 5 towns with the most affordable 3-room resale HDB flats are namely Geylang, Toa Payoh, Jurong West, Woodlands, and Bedok.

Town

Median Price of 3-Room Resale Flats


Median Lease Commencement Year

1

Geylang

$305,000

1975

2

Toa Payoh

$313,000

1971

3

Jurong West

$325,000

1984

4

Woodlands

$330,000

1985

5

Bedok

$331,500

1979

6

Bukit Batok

$334,000

1986

7

Ang Mo Kio

$345,000

1980

8

Hougang

$345,000

1986

9

Jurong East

$345,000

​1983

10

Yishun

$348,000

1987

Given their popularity and proximity to the city, mature estates such as Toa Payoh, Ang Mo Kio, and Geylang, may surprise you in this list of Singapore towns with the most affordable 3-room resale HDB flats.


However, there is a perfectly sound explanation for this; due to the relative age of the 3-room resale units in the aforementioned neighborhoods, it is expected that they will command a lower market price proportionate to their remaining lease.


Where to Find the Most Affordable 4-Room Resale Flats in Singapore


At a glance, the Top 5 HDB estates with the most affordable 4-room resale flats in Singapore are Woodlands, Sembawang, Jurong West, Yishun, and Jurong East.

Town

Median Price of 4-Room Resale Flats


Median Lease Commencement Year


1

Woodlands

$435,944

1998

2

Sembawang

$448,000

2004

3

Jurong West

$450,000

2000

4

Yishun

$450,000

1988

5

Jurong East

$455,000

1985

6

Bedok

​$456,800

1984

7

Bukit Panjang

$460,000

2001

8

Bukit Batok

$465,000

1987

9

Choa Chu Kang

$470,000

2016

10

Hougang

$475,000

1997

One interesting observation to note about the median costs of purchasing a 4-room resale flat in these ten towns is that they all fall below the island-wide median price, which is $490,000. So, if you are looking to beat the market or have a lower-than-average budget, check out these neighborhoods.


Where to Find the Most Affordable 5-Room Resale Flats in Singapore

If you are on the hunt for a 5-room HDB resale flat in Singapore, the Top 5 best places to start your search are namely: Sembawang, Woodlands, Jurong West, Sengkang, and Choa Chu Kang – all of which have a lower median price than the current island-wide median of $590,000.

Town

Median Price of 5-Room Resale Flats


Median Lease Commencement Year

1

Sembawang

$510,000

2001

2

Woodlands

$520,000

1998

3

Jurong West

$530,044

2001

4

Sengkang

$555,000

2003

5

Choa Chu Kang

$565,500

2002

6

Bukit Panjang

$567,500

2001

7

Yishun

$580,000

​2000

8

Pasir Ris

$585,000

1994

9

Hougang

$595,000

1998

10

Punggol

$600,000

2013


Furthermore, despite the fact that the median price for 5-room resale flats in Punggol exceeds the island-wide median, the neighborhood is still worth considering for home seekers – particularly if they are looking to settle down in a newer HDB property (read: with a longer lease).


Because 2013 was the median lease commencement year for 5-room resale flats in Punggol, at least 50% of them will have a remaining lease of 90 years.

Where to Find the Most Affordable HDB Executive Apartments in Singapore


Think of them as the four-leaf clovers in a field of three-leaf ones. HDB Executive Apartments are just as rare as they are appealing to Singaporeans looking for a spacious flat to call home.

Town

Median Price of Resale Executive Flats

Median Lease Commencement Year

1

Sembawang

$589,000

2001

2

Jurong West

$640,000

1997

3

Punggol

$642,500

2003

4

Sengkang

$650,000

2001

5

Choa Chu Kang

$660,000

1995

6

Bukit Panjang

$710,000

1999

7

Yishun

$712,500

1988

8

Woodlands

$715,000

1996

9

Pasir Ris

$720,000

1993

10

Bukit Batok

$735,000

1987

Executive Apartments are easily larger than most modern-day BTO flats, ranging from 1,507 to 1,615 square feet in size, but the only way to purchase one is through the resale market as HDB has discontinued them since 2005.


So, if you are looking for an Executive Apartment, be sure to check out neighborhoods like Sembawang, Jurong West, Punggol, Sengkang, or Choa Chu Kang where you may still find one at a reasonable price!



To sum up


For a more in-depth look at this topic and the research methodology used for this study, check out this in-depth report by ERA Research & Consultancy.

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