Singapore Public Housing – HDB
Appx 80% of Singapore’s resident population lives in public housing which are managed by the HDB on the 99-year leasehold tenure.
HDB offers a wide range of flats and the most popular is the 4-Room flat which comprises of 3 bedrooms and 2 toilets with floor area ranging from 82 sqm (883 sqft) to 113 sqm (1,216 sqft).
The Urban Renewal Authority categorizes Singapore into 5 regions (Central, East, West, North-East & North) which is further divided into 26 HDB towns.
HDB maintains, avails and regularly updates the HDB Resale Transactions to ensure the public makes better decisions to facilitate their sales and purchases.
Based on the HDB Resale Transactions for the Aug-2020 to Jan-2021 period, the Selling Price of 4-Room flat ranges from just below $250k in Woodlands (for a 1976 completed 88 sqm unit at Marsiling Drive) to $1.1m in Central Area (for a 2011 completed 95 sqm unit at Pinnacle @ Duxton).
Location is the most important factor that account for the higher price, followed by Age of the Property.
The chart above provides the average HDB Resale Prices of the Top 5 & the Bottom 5 Resale Prices of 4-Room Flats of all the HDB Towns (excluding Sembawang and Tengah which are new towns where the flats have not satisfied the Minimum Occupancy Period) for the Aug-2020 to Jan-2021 period.
Understanding the factors influencing Resale Prices
Address: 1C Cantonment Road S(085301)
Block 1C is one of the 7 blocks that make up Pinnacle @ Duxton with Lease Commencement from 2011.
Each block is 50 Storeys high and there are 6 units at each level.
There are 5 MRT Stations within a 1km radius, which includes Outram Park (EW16, NE3, TE17), Cantonment (CC31), Tanjong Pagar (EW17), Telok Ayer (DT18) & Chinatown (NE4, DT19).
It is not more than 10 mins walking distance to Chinatown, Shenton Way & Singapore General Hospital.
There were 3 resale transactions of 4 room flats in this period with price ranging from $988k to $1.1m.
The 4-Room flats are of Type S1 with floor area of 95 sqm or 97 sqm.
Nearby condominiums within 1km include The Beacon (units of 1,163 sqft selling at $1.5m), Onze @ Tanjong Pagar (units of 1,044 sqft selling at $2.5m) & Wallich Residences (units of 1,098 sqft selling at $3.3m).
Facade of Blk 1C & Blk 1D facing Cantonment Road.
6 units per level.
Located at the junction of Neil Road & Cantonment Road with 5 MRT Stations within 1 km radius.
Just a short walk away to Chinatown & Shenton Way.
Address: 90 Dawson Road S(142090)
Block 90 is one of the 5 blocks that make up SkyTerrace @Dawson with Lease Commencement from 2016.
Each block is 43 Storeys high and there are 4 units at each level.
There are 2 MRT Stations within a 1km radius, which includes Queenstown (EW19) & Redhill (EW18).
It is set amidst greenery with the north facing units overseeing the Good Class Bungalows at Ridley Park & Ridout Road including the majestic Botanic Gardens.
There were 8 resale transactions during this period with prices ranging from $770k to $918k.
The 4-Room Flats are of Type Premium Apartment (Floor area of 83 sqm) or Premium Apartment Loft (Floor area of 97 sqm).
Nearby condominiums within a 1km radius include Commonwealth Towers (904 sqft for $1.7m), Queens Peak (1,001 sqft for $1.8m) & Queens (1,195 sqft for $1.5m).
Award winning building design & surounded by greenery.
4 units per level.
Immediate north faces Dempsey Road & Botanic Gardens with south facing Sentosa.
Set amidst award winning public housing.
Address: 889A Woodlands Drive 50 S(731889)
Block 889A is one of the 6 blocks that make up Treetrail @ Woodlands with Lease Commencement from 2017.
Each block is 16 Storeys high and there are 8 units at each level.
There are 2 MRT Stations within a 1km radius, which includes Woodlands (NS9) & Admiralty (NS10).
The north facing units can see Johore Bahru which is appx 3.6km away and it is also 1.5km south of the massive Woodlands North MRT Station which will connect Singapore to Johore via the JB-Singapore Rapid Transit System.
There were 7 Resale Transactions in this period with prices ranging from $430k to $481k.
The 4-Room Flats are of Type Model A with Floor Area of 93 sqm.
No condominiums within 1km radius.
Well located BTO in the Woodlands vicinity.
8 units per level.
Centrally located within 2 MRT Stations.
Bounded by Woodlands Ave 7 & Woodlands Drive 50.
Address: 23 Marsiling Drive S(730023)
Block 23 is one of the 6 blocks that make up Marsiling Green with Lease Commencement from 1977.
Each block is 13 Storeys high and there are 16 units at each level.
There are no MRT stations within a 1km radius.
The block is just 500m south of the Woodlands Immigration Checkpoint.
There was 1 Resale transaction in this period with Price of $256k.
The 4-Room flats are of Type New Generation with Floor Area of 92 sqm.
No condominiums within 1km radius.
Facade of Blk 23 facing Admiralty Road.
There are 16 units on some floors.
North faces Johor Bahru & South faces Bukit Timah Hill.
Block faces south towards Admiralty Road & the high floors can see Bukit Timah Hill.
Key Takeaways of the 5 Regions
1. Central Region
- Highest Resale Prices across Singapore ranging from $780k to $1.1m, esp. for the BTO flats completed in last 10 years.
- There are some Flats with remaining tenure of below 60 years priced at below $310k at Toa Payoh.
- The flats with remaining tenure of below 60 years in Bukit Timah are the highest in Singapore at around $480k.
2. East Region
- Highest Resale Prices in this vicinity are the BTO flats completed in last 10 years at Bedok and are priced around $721k.
- There are some flats in Bedok where the remaining tenure is below 60 years selling at below $312k.
3. North Region
- Highest Resale Prices in this vicinity are the BTO flats completed in last 10 years at Woodlands are affordably priced below $490k.
- There are some Flats with remaining tenure of below 60 years at Woodlands affordably priced at below $260k at Woodlands.
4. North-East Region
- Highest Resale Prices in this vicinity are the BTO flats completed in last 10 years at Ang Mo Kio and are priced around $738k.
- There are some flats with remaining tenure of below 60 years at Hougang priced at below $308k.
5. West Region
- Highest Resale Prices in this vicinity are the BTO flats completed in last 10 years at Clementi and are priced around $873k.
- There are some flat with remaining tenure of below 60 years at Choa Chu Kang priced at below $296k.
Given that there is more demand than supply & prices for new private non-landed residential property in suburban areas are now averaging more than $1,600 psf, our public housing certains provides great value.
Would you pay $1m for a well located 4-Room flat that is less than 10 years old?
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