I believe many have heard that all Singapore citizens have access to housing, and that the prices of new HDB flats in Singapore are very affordable. Some curious friends have also asked me about the topic of “prices of new HDB flats in Singapore,” so let’s delve into this subject!
In Singapore, new HDB flats are generally Build-To-Order (BTO) flats, a type of property that only Singapore citizens can purchase. As the name suggests, BTO flats are not pre-built; instead, buyers need to apply to the Housing & Development Board (HDB). Tenders for construction are only called when the number of applicants reaches 70% of the units in the project, allowing for faster completion. After this brief introduction to the concept of new HDB flats in Singapore, let’s get to the main topic!
Regardless of the country or region, the price of any property is influenced by its location, and Singapore is no exception. Therefore, when discussing the prices of new HDB flats in Singapore, we need to examine them by region.
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Prices of New HDB Flats in Singapore: Queenstown, Tiong Bahru (District 3) and Telok Blangah, Harbourfront (District 4)
According to statistics from the well-known local property platform PropertyGuru, the prices of new HDB flats in the Telok Blangah area announced in May 2021 varied by unit size: 3-room flats ranged from SGD 420,000 to 500,000, while 4-room flats ranged from SGD 600,000 to 710,000. Converted to RMB, the former is approximately 2.1 to 2.5 million, and the latter ranges from 3 to 3.55 million.
The prices of new HDB flats in the Queenstown area, announced in August 2018, were slightly lower than those in Telok Blangah. 3-room flats were priced between SGD 380,000 and 470,000, while 4-room flats were between SGD 540,000 and 670,000. In RMB, the former would cost 1.9 to 2.35 million, and the latter 2.7 to 3.35 million. Of course, these are just the net prices of the new HDB flats and do not include taxes incurred during the purchase.
Prices of New HDB Flats in Singapore: Rochor (District 7)
In this area, the HDB launched a batch of BTO flats in November 2021. The price for a 3-room flat ranged from SGD 410,000 to 480,000 (equivalent to RMB 2.05 to 2.4 million), while a 4-room flat was priced between SGD 580,000 and 690,000 (equivalent to RMB 2.9 to 3.45 million).
The areas mentioned above are relatively close to the city center in Singapore, so the prices of new HDB flats are comparatively high. Next, we will look at the prices for BTO projects located further from the city center.
Prices of New HDB Flats in Singapore: Toa Payoh (District 12)
Also launched in November 2021, the prices for BTO flats in Toa Payoh, for both 3-room and 4-room units, were noticeably lower than in Rochor. The former ranged from SGD 330,000 to 400,000, and the latter from SGD 470,000 to 600,000, equivalent to RMB 1.65 to 2 million and 2.35 to 3 million, respectively. Additionally, this BTO launch in Toa Payoh also included 5-room flats, with prices ranging from SGD 630,000 to 730,000 (equivalent to RMB 3.15 to 3.65 million), which is also quite affordable.
Prices of New HDB Flats in Singapore: Kallang, Whampoa, and Geylang (District 14)
In November 2021, a BTO project was launched in the Kallang/Whampoa area. It offered two flat types: 2-room and 4-room flats. The former was priced between SGD 200,000 and 310,000, while the latter ranged from SGD 510,000 to 660,000. In RMB, the 2-room flats cost between 1 to 1.55 million, and the 4-room flats between 2.55 to 3.3 million. As this project is close to the regional commercial center and has excellent transport links, the property prices are slightly higher than in Toa Payoh.
Prices of New HDB Flats in Singapore: Sengkang, Punggol, and Hougang (District 19)
In November 2021, two BTO projects were launched in this district, both located in Hougang: Tanjong Tree Residences and Hougang Olive. They only offered larger 4-room and 5-room flats. In terms of price, they were very affordable, with 4-room flats ranging from SGD 310,000 to 390,000 and 5-room flats from SGD 420,000 to 500,000. This means that purchasing a new HDB flat in this area would cost between RMB 1.55 to 2.5 million. Compared to the previously mentioned areas, this district is located further out and is a more recently developed region. Of course, corresponding facilities for shopping, education, and transport have been completed and are sufficient for daily life.
Regarding the topic of new HDB flat prices in Singapore, we have provided some price comparisons and explanations by dividing them into different regions. This does not cover all areas in Singapore.
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