HDB Resale Flat Price 2022: Singapore 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 Singapore HDB resale flat prices, you’ll realise that not all neighbourhoods are made equal.

For example, if you compare an HDB resale flat near an MRT station and shopping mall in a mature estate, against one in a more ‘ulu’, non-mature estates like Woodlands, you’ll find the flats would be priced very differently. 

In this article, we take a look at HDB resale flat prices 2022 (as published by HDB, Q4 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 the estate in this article: HDB BTO Prices Sorted by Estate and Price of Rooms in Singapore (from 2019 to Feb 2022).

Related article: Non-mature vs Mature BTO Estates: We Ask 8 Singaporeans Which is Better

Interest rates are set to rise in 2022, so act now! Secure record low mortgage rates while you still can. Compare the best mortgage rates on PropertyGuru Finance, or contact us for expert, honest 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 with young children. Let’s start by taking a look at some of the most affordable and expensive neighbourhoods to purchase a 3-room HDB flat in.

Related article: Just How Much Smaller Are New Condos and HDB Flats Getting?

Most Affordable HDB Estates for 3-room Flats

Most Expensive HDB Estates for 3-room Flats

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

If you’re looking for an affordable yes accessible 3-room flat, Geylang is your top choice, followed by Toa Payoh. Both mature estates are city-fringe locations. Flats in Geylang tend to be older with a shorter remaining lease, which explains the lower median prices despite its fantastic location close to the city centre.

The most expensive 3-room flats can be found in the Central area, Punggol, Sengkang, Marine Parade, and Choa Chu Kang. Of these, it’s slightly surprising that the top three are actually non-mature estates at the farther ends of Singapore.

For Punggol and Sengkang, the reason for the higher prices could be due to many of the 20,000+ HDB flats which recently fulfilled their Minimum Occupation Period (MOP) being located in the two HDB towns.

Want to browse more freshly MOP-ed flats? Check out this list of 60 freshly MOP-ed resale flats in 2022/2023.

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 to 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, Bedok, Jurong East, Jurong West and Yishun had the lowest median prices in Q4 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.

Related article: HDB Estates With Flats Trending Towards 1 Million Dollars: Where Will The Next Estate Be?

5-room HDB Resale Flat Prices

Ah… 5-room flats, considered one of the more ‘luxurious’ HDB units. These flats are great for larger families, with modern 5-room flats offering about 110 sqm or 1,184 sq ft of space; this is comparable to the size of some 4-bedroom condo units. Older flats are sometimes even bigger.  

Related article: Battle of the Big Flats: Maisonette, Jumbo Flat, Executive Flat, 3Gen Flat, 5-Room Flat

Most Affordable HDB Estates for 5-room Flats

Most Expensive HDB Estates for 5-room Flats

Note: Bukit Timah, Marine Parade, and the 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 is 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 Q4 2021 to make a comparison). Toa Payoh is the next most expensive, followed by Bukit Merah.

Related article: Million-Dollar HDB Resale Flats in 2021: What’s So Special About Them?

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 (and maybe even a home gym), while some also feature balconies.

Related article: 14 HDB Flats with Balcony Space in Singapore and Tips on How to Decorate

Most Affordable HDB Estates for Executive Flats

Most Expensive HDB Estates for Executive Flats

Note: Bukit Timah, Bedok, Jurong East, 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 $700,000 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 $800,000. Although that is indeed expensive for public housing, it is still much cheaper than 4-room flats in the Central area ($972,500) and 5-room flats in Queenstown ($935,000).

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. The 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.

Related article: Comparing HDB Flats in the Same Estate: How Old Should You Go? (BTO vs HDB Resale Price 2022)

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

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 (MRT and LRT stations, 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), and potentially Cash Over Valuation (COV) fees, 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.

More FAQs on HDB Resale Flats 

What Are HDB Resale Flats?

HDB resale flats are basically HDB flats on the open market. They were previously bought from the Government, and are being resold by their current owners. Sort of like ‘preloved’ flats, if you may. 

Are HDB Resale Flats or BTO Flats Better?

This depends on preference. Generally, new flats (like BTOs) bought directly from the Government are cheaper as they’re subsidised housing. However, they take a few years to build. HDB resale flats are often more expensive, but if you need a home urgently, they’re already fully built and ready for move-in within months. There are also more choices when it comes to resale flats as new flat launches are limited. 

How Can I Buy HDB Resale Flats? 

PropertyGuru is the leading property portal in Singapore and home to the most property listings. There’s a good chance you’ll be able to find your dream home – HDB resale flat or not – on our site.