Buying an HDB Resale Flat? Here Are Singapore’s Most Expensive and Affordable Neighbourhoods in 2022

You finally found your “the one,” and in the course of your relationship, you started to talk about the future, including having kids (or not) and buying your home sweet home. Like many, getting a flat from the Housing and Development Board (HDB) — where 80% of Singaporeans live — will be part of your plans.

Applying for a Build-to-Order (BTO) HDB flat is a rite of passage for many Singaporean couples, but you also wouldn’t want to limit yourselves and think of alternatives like a resale flat.

BTO flats are brand new and launched before construction, which means you’ll have to ballot for a slot, commit to the purchase by giving a down payment, and wait up to four years (or more) to finally get the keys to your new home. You also have to live in that flat for at least five years to complete your Minimum Occupation Period (MOP). HDB resale flats, on the other hand, don’t have a long waiting time and you can live in them as soon as you’re done with the necessary transactions. They’re not brand new, but usually tick most boxes in your must-haves. The only thing you must consider carefully is if the flat’s price is still worth it based on the remaining years of its lease.

Buying an HDB Resale Flat

Choosing between a new flat and a resale is a matter of personal choice, but it’s best to keep in mind that when the COVID-19 pandemic hit, a few things have changed. Resale prices are soaring as demand grows, with some BTO applicants cancelling their flats due to construction delays and opting to buy a resale instead even without a grant. There’s also higher demand for more rooms and larger flats as we continue to live with the virus and work in a hybrid setup.

Regardless, if you’ve decided to go for a resale, it’s best to know which flats meet your budget. To do that, let’s look at the median resale prices data by town and flat type in the third quarter of 2022 as released by HDB:

The Most Affordable HDB Resale Flats

• Three-room flats – Geylang (S$320,000), Jurong West (S$339,000), Toa Payoh (S$341,400), Woodlands (S$345,000), and Bukit Batok (S$353,000)
• Four-room flats – Jurong East (S$460,000), Woodlands (S$468,000), Bukit Panjang (S$471,900), Yishun (S$473,000), and Bedok and Jurong West (S$475,000)
• Five-room flats – Woodlands (S$560,000), Jurong West (S$565,000), Sembawang (S$566,000), Choa Chu Kang (S$588,000), and Sengkang (S$595,400)
• Executive Apartment – Sembawang (S$636,500), Jurong West (S$665,000), Sengkang (S$723,600), Choa Chu Kang (S$742,000), and Yishun (S$748,000)

Among all the towns listed, Jurong West has the most affordable resale transaction prices regardless of the number of rooms. It’s a non-mature estate known for being a quiet neighbourhood since it’s about two hours away from the hustle and bustle of the Central Area. It’s also a good location if you have children studying or aiming to study at Nanyang Technological University (NTU), which is one of the most prestigious schools in Singapore and the world. While NTU offers on-campus housing, rejections for hall application can be a problem so it’s safer to have a permanent residence near school.

Geylang, which is the cheapest on the list, is known as the only official red-light district in the city-state. Yes, the brothels here are legal, which earned the area an unpopular reputation. It’s also known for its migrant worker population, as old shophouses and apartments in the area have become cheap places to rent for low-wage earners. Still, apart from its late-night activities, the neighbourhood has its own charm. It’s where you can find a lot of durian shops, for instance. It’s also one of the five regions surrounding the Central Area, which means public transportation isn’t as difficult and you can make it to the central business district (CBD) in about 30 minutes by train.

The Most Expensive HDB Resale Flats

• Three-room flats – Queenstown (S$395,000), Marine Parade (S$412,500), Punggol (S$436,900), Sengkang (S$438,000), and Central (S$460,000)
• Four-room flats – Central (S$680,000), Toa Payoh (S$740,000), Bukit Merah (S$765,000), Kallang/Whampoa (S$778,400), and Queenstown (S$860,000)
• Five-room flats – Kallang/Whampoa (S$840,000), Bishan (S$855,000), Toa Payoh (S$870,000), Bukit Merah (S$875,000), and Queenstown (S$894,000)
• Executive apartments – Tampines (S$844,000), Hougang (S$822,000), Bedok (S$820,000), Bukit Batok (S$790,900), and Bishan (S$1,045,000)

As expected, the Central area is on the list due to its proximity to the CBD, tourist hotspots, and other important establishments. It’s a busy neighbourhood to live in, but staying in a three- or four-room flat is worth paying the premium for small families that value being in the heart of the city. Most of Singapore’s best amenities are a short walk or ride away, which saves time and money in the long run. Cycling has also become a popular activity, particularly in the Marina Bay area, for those who want to destress without leaving the city centre.

Queenstown, Singapore’s first satellite town named after Queen Elizabeth II, also made it to the list thanks to its proximity to the CBD and its self-sufficient amenities, such as shops, markets, cinemas, and places of worship. While it’s considered an “elderly town” due to its early residents, many families are settling in this area because it’s home to renowned schools, such as the National University of Singapore (NUS) and Singapore Institute of Technology (SIT). Redevelopments and new structures, such as IKEA and the trendy cafés and pubs at Holland Village, have also attracted the younger generation to the area.