Singapore HDB Resale Flat Price Guide
This article provides the prices of all the 26 HDB estates by flat type in the latest quarter.
If you’re interested in buying a house in Singapore, you’ll find that HDB flats offer the best prices. You could also put yourself on the list (ballot) for a Build-to-Order (BTO) apartment, although it may take a few years. Or you could try to find an HDB resale flat currently on the market that meets all your requirements including location and price range.
An HDB resale flat is an apartment with a previous owner from whom you would be buying the unit. The Minimum Occupation Period (MOP) is 5 years, after which homeowners are allowed to offer the unit for sale. This option would be available to you as well if you and your spouse are accepted for a BTO flat, move in after it’s built and live there for a minimum of 5 years. Any time after that, you are allowed to sell your flat.
Table of Contents
Benefits of Buying an HDB Resale Flat
Singapore Average HDB Resale Flat Prices
How to Use the HDB Resale Price Index Portal
Benefits of Buying an HDB Resale Flat
Buying an HDB resale flat makes a lot of sense for people who don’t have time to ballot for a BTO flat. This is mainly because people who wait for a HDB BTO flat are not guaranteed a unit in the end. It could also be that the BTO projects currently underway are not in a location that will suit the buyer or you could not wait for the 4-6 years construction, with extra delay due to Covid-19. You want home in their preferred community, near work, school, or their family’s home.
This means that buying an HDB resale flat may be your best option if you do not have time to wait. Even though you won’t have the benefit of a full 99-year lease, a nearly new unit will likely come with at lease of at least 90 years, which is plenty. However, it’s important that you make sure the HDB resale price being asked is fair, based on the number of years that remain on the lease.
Another advantage of buying an HDB resale flat, is that you immediately get the keys upon a completed transaction which usually takes around 3 months time from the date you decided on a flat. So, you can start renovating right away and move in soon after.
For more information about the pros and cons of purchasing an HDB resale flat compared an HDB BTO flat, click here.
Singapore Average HDB Resale Flat Prices
The following is an overview of the latest median HDB resale flat prices by towns in Singapore:
|
TOWNS |
3-ROOM |
4-ROOM |
5-ROOM |
EXECUTIVE |
|
$322,000 |
$438,000 |
$600,000 |
* |
|
|
$310,000 |
$430,000 |
$609,500 |
$777,800 |
|
|
* |
$545,000 |
$760,000 |
* |
|
|
$313,000 |
$417,500 |
$591,500 |
$681,500 |
|
|
$357,000 |
$760,000 |
$816,000 |
- |
|
|
$328,000 |
$450,000 |
$530,000 |
$687,500 |
|
|
* |
* |
* |
* |
|
|
* |
$941,000 |
* |
- |
|
|
$360,000 |
$460,000 |
$537,000 |
$600,000 |
|
|
$340,000 |
$695,000 |
$690,000 |
* |
|
|
$307,000 |
$565,000 |
$688,000 |
* |
|
|
$320,000 |
$435,500 |
$573,500 |
$740,000 |
|
|
$328,500 |
$429,000 |
$528,000 |
$760,000 |
|
|
$298,000 |
$418,000 |
$501,900 |
$590,000 |
|
|
$320,000 |
$685,000 |
$780,000 |
* |
|
|
* |
* |
$796,000 |
- |
|
|
* |
$459,000 |
$542,000 |
$688,400 |
|
|
$393,000 |
$488,000 |
$585,000 |
* |
|
|
$358,000 |
$800,000 |
$932,500 |
* |
|
|
* |
$410,000 |
$470,900 |
* |
|
|
$372,000 |
$465,000 |
$515,900 |
$598,000 |
|
|
* |
$465,000 |
$612,900 |
$875,500 |
|
|
$353,000 |
$466,000 |
$580,000 |
$726,500 |
|
|
$280,000 |
$655,000 |
$760,400 |
* |
|
|
$295,000 |
$406,000 |
$485,000 |
$645,000 |
|
|
$325,000 |
$426,500 |
$542,500 |
$630,000 |
Source: Housing & Development Board (HDB) Resale Statistics for 2nd Quarter 2021
Here are the notes and legends for the symbols used in the following table:
-
(-) indicates no resale transactions in the quarter
-
Asterisks (" * ") refer to cases where there are less than 20 resale transactions in the quarter for the particular town and flat type. The median prices of these cases are not shown as they may not be representative
-
The data excluded transactions that may not accurately reflect the market price, i.e. resale of part shares, resale between related parties, cases under the Conversion Scheme, resale of terrace flats, and converted flats
-
The figures are rounded to the nearest hundred dollars
How to Use the HDB Resale Price Index Portal
HDB Resale Statistics only provides you with general idea for the price in the towns. There could still be huge price variation within the same estate such as the flats in a block that is located closer to MRT stations, and flats in a block that has more balance lease than others. For transactions in a specific block or negihbourhood, visit HDB resale price index portal or the HDB map service.
These tools allow you to search by type of HDB flat, town, and/or resale registration date. You can even search details like the street name, specific block number and range of resale prices on completed transactions.
You can quickly find the resale flat prices on completed transactions within the last 2 years, derived from registered resale applications. These online tools are also updated every day, so the resale flat prices should be accurate. You can also request for indicative value from our website and you will receive a report from a licensed valuer. The service is free of charge.
Once you’ve determined what your budget is, you can search for HDB resale flats through property sites like 99.co or PropertyGuru.com.sg. You can easily search by estate name, price, number of bedrooms, and other criteria.
At Pinnacle Estate Agency, we strongly believe in sharing our real estate knowledge to the public. For more content like this article, check out our Singapore Property Guides.
