HDB Resale Flat Estates Ranked from Most Expensive to Most Affordable

When looking for the perfect home, one of the first questions many ask is “Which neighbourhood do I want to live in?” Then, when comparing properties, you’ll realise that not all neighbourhoods are made equal.

For example, if you compare flats that are near an MRT and shopping mall, one that’s say, in Woodlands would be priced very differently from one in Toa Payoh. Even though you can say that both are equally convenient in the sense that there are similar amenities nearby, the truth is that the wider location matters.

In this article, we take a look at HDB resale flat prices (as published by HDB, Q2 2021), and rank the top five most expensive and most affordable estates for each unit type.

If you’re interested in new flats instead, we’ve ranked BTO prices by estate in this article: Ultimate List of BTO Prices Sorted by Estate and Price of Rooms (from 2019 to Now)

Looking for a home loan for your HDB resale flat? Compare the best mortgage rates on PropertyGuru Finance, or contact us for more personalised advice and recommendations:

3-Room HDB Resale Flat Prices

At 60 to 65 sq m (646 to 700 sq ft) large, 3-room flats make an ideal home for singles, couples and even some small families. Let’s start by taking a look at some of the most affordable and expensive neighbourhoods to purchase a 3-room HDB flat in.  

Most Affordable HDB Estates for 3-Room Flats

Most Expensive HDB Estates for 3-Room Flats

Note: Bishan, Bukit Timah, Central, Marine Parade, Pasir Ris, Sembawang and Serangoon were excluded due to insufficient resale transaction data.

If you’re looking for an affordable yes accessible 3-room flat, Toa Payoh is your top choice. It is the most affordable in Q2 2021 and has a great location near the city. There is also Geylang, but these flats tend to be older with a shorter remaining lease, explaining to the lower median prices.

The most expensive 3-room flats can be found in Punggol, Sengkang, Choa Chu Kang, Queenstown and Bukit Merah. Of these, it’s slightly surprising that the top three are actually non-mature estates at the farther ends of Singapore. No surprises for Queenstown and Bukit Merah on the city fringe – these estates have often made headlines and are known to be expensive estates.

4-Room HDB Resale Flat Prices 

4-room HDB flats are one of the most popular unit types. They provide a good amount of space (90 sq m or 969 sq ft), suitable couples who are set to become parents and small families. Let’s check out the prices below.

Most Affordable HDB Estates for 4-Room Flats

Most Expensive HDB Estates for 4-Room Flats

Note: Bukit Timah and Marine Parade were excluded due a lack of resale transaction data.

Those looking for space but are on a budget, look for 4-room flats in the far North and West regions. Woodlands, Sembawang, Bukit Batok, Jurong West and Yishun had the lowest median prices in Q2 2021. Of these, Woodlands and Yishun are slightly more developed, with more malls and amenities in the area. Sembawang is an up-and-coming neighbourhood too.

Unsurprisingly, 4-room flats in the Central area, Queenstown and Bukit Merah were the most costly. Central area flats had a median price close to a million! Obviously, these are suited for those who really value connectivity, and want to be near the city. The only estate in this list that’s not on the city fringe is Clementi, which is a popular neighbourhood in the West.

5-Room HDB Resale Flat Prices

Ah… 5-Room flats, considered one of the more ‘luxurious’ unit types among HDBs – perfect for larger families. Modern 5-Room flats offer about 110 sqm or 1,184 sq ft of space, which is comparable to the size of some 4-bedroom condo units. Older flats are sometimes even bigger.  

Most Affordable HDB Estates for 5-Room Flats

Most Expensive HDB Estates for 5-Room Flats

Note: Bukit Timah and Central area were excluded due to a lack of resale transaction data.

5-Room flats in Queenstown are known to cross the million-dollar mark, so it is expected that the median price of these units in Queenstown are the highest. It’s worthy to note that they’re still cheaper than 3-room flats in the Central area though (there were not enough 5-room units transacted in the Central area in Q2 2021 to make a comparison).

Bukit Merah is the next most expensive, followed by Marine Parade in the East.

For the most affordable 5-room flats, check out Sembawang, Woodlands and Jurong West. Again, these are in the suburban areas, but hey, with remote work being the trend now, it may not matter.

HDB Executive Resale Flat Prices

The biggest among flats currently available from HDB, executive flats come with plenty of space (130 sq m or 1,399 sq ft). They typically come with additional space for a study room, while some also feature balconies.

Most Affordable HDB Estates for Executive Flats

Most Expensive HDB Estates for Executive Flats

Note: Bukit Timah, Queenstown, Kallang / Whampoa, Toa Payoh, Bishan, Clementi, Geylang, Ang Mo Kio, Punggol and Sembawang were excluded due to insufficient resale transaction data. There are no executive resale flats in the Central area, Bukit Merah and Marine Parade.

Executive flats are the largest modern HDB flat size, and you can score a resale unit in Jurong West, Sengkang and Choa Chu Kang for $600,000 or less. That’s quite a steal!

It seems that although executive flats are larger, they are perhaps less popular than 4-room and 5-room flats. The most expensive HDB estate for executive flats is Serangoon, with a median price of $875,500. Although that is indeed expensive for public housing, it is still much cheaper than 4-room flats in the Central area ($941,000) and 5-room flats in Queenstown ($932,500).

Generally Expensive and Affordable Estates Across All Housing Types

Now that we’ve examined the prices of specific unit types across different neighbourhoods, let’s take a look at the general affordability of homes in various neighbourhoods.

As seen above, the most expensive neighbourhoods are mature estates with prime locations, near the city or on the fringe. Central area is generally the most expensive because it’s the closest to the Central Business District (CBD). The flats there are typically older, but they still command a large premium.

The other popular estates are slightly further away but still well-connected to the city. Many HDB flats at Dawson Road, Queenstown, recently crossed their Minimum Occupation Period in 2020 and 2021 as well, which explains the surge in popularity.

If you’re looking for properties that are easier on the wallet, look in developing estates at the further ends of the island. In the north, Woodlands and Sembawang seem the cheapest. Woodlands is quite well-equipped with multiple transport nodes (MRTs, LRTs, etc) and Causeway Point mall, while Sembawang is currently undergoing a rejuvenation.

In the West, there’s Jurong West. Jurong is quite an exciting estate to live in as well, considering the Jurong Lake District transformation, which will include a large mixed-use business district, the Jurong Region Line and Cross Island Line, and more.

Buying and Financing an HDB Resale Flat in Singapore

Not sure of how to budget for your upcoming HDB flat purchase? There are several things to consider when taking up a home loan to finance an HDB flat.

First, you’ll need to check how much savings you have, whether in cash and/or CPF. This is mainly for the upfront payments, which include the downpayment and various fees involved.

You can reference this article for a breakdown of the payments: A Step-by-Step Guide on How to Pay for a Resale HDB Flat

There’s also your income, and the Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR) to account for. This may affect your loan size and your monthly mortgage repayments.

The easiest way to work out a feasible budget is by using our Mortgage Affordability Calculator, or better yet, speak to PropertyGuru Finance’s home loan advisors for personalised advice and home loan recommendations!

Disclaimer: Information provided on this website is general in nature and does not constitute financial advice.