In December 2021, the government introduced a series of cooling measures for the Singapore property market. So, after the implementation of these cooling measures, what are the HDB flat prices in Singapore in 2022? Previously, we have mentioned Singapore’s Build-To-Order (BTO) and Resale HDB flats multiple times. Therefore, this time we will also organize the prices of Singapore HDB flats from these two perspectives.
Singapore HDB Flat Prices: Build-To-Order (BTO)
In May 2022, the Singapore Housing & Development Board (HDB) officially launched 4,583 BTO flats in five areas: Bukit Merah, Jurong West, Queenstown, Toa Payoh, and Yishun. We will also provide an in-depth analysis of the prices of these BTO flats by region.
① Bukit Merah BTO Project
The geographical location of this BTO project is excellent, bordered by Bukit Merah View, Henderson Road, Tiong Bahru Road, and Lower Delta Road. It is close to Redhill and Tiong Bahru MRT stations on the green line. Nearby amenities such as Tiong Bahru Market and hawker centres make life very convenient. For families with children, there are also government schools nearby, including Gan Eng Seng School, Crescent Girls’ School, Alexandra Primary School, Gan Eng Seng Primary School, and Bukit Merah Secondary School.
The unit types developed in this project are 3-room and 4-room flats. The minimum price for a 3-room flat is SGD 377,000, equivalent to approximately 1.9 million RMB; the minimum price for a 4-room flat is SGD 540,000, equivalent to approximately 2.7 million RMB.
② Jurong West Lakeside View BTO Project
This BTO project is located in the western part of Singapore, just a stone’s throw away from Jurong Lake Gardens, offering a beautiful and serene living environment. Despite this, its transport links are very convenient, with Lakeside MRT station on the green line just a 10-minute walk away. It is also only two MRT stops from Jurong East Centre, making shopping and daily life convenient. Nearby schools such as Yung An Secondary School, Lakeside Primary School, Boon Lay Garden Primary School, and Yuhua Secondary School provide excellent educational resources.
This project offers a wide range of flat types, from 2-room to 5-room, with prices varying according to the size of the property: the minimum price for a 2-room flat is SGD 107,000, equivalent to approximately 540,000 RMB; the minimum price for a 3-room flat is SGD 215,000, equivalent to approximately 1.08 million RMB; the minimum price for a 4-room flat is SGD 320,000, equivalent to approximately 1.6 million RMB; and the minimum price for a 5-room flat is SGD 412,000, equivalent to approximately 2.06 million RMB.
③ Queenstown Ghim Moh Ascent BTO Project
The location of this BTO project can also be considered a prime area. Not only is it close to Buona Vista MRT station on the green and circle lines, but it is also very near the city center. Shopping malls like The Star Vista and Holland Village are nearby, making life very convenient. At the same time, there are many international schools in the vicinity, creating an international community.
This project offers two flat types: 3-room and 4-room. The minimum price for the former is SGD 369,000, equivalent to approximately 1.85 million RMB; the minimum price for the latter is SGD 511,000, equivalent to approximately 2.56 million RMB.
④ Toa Payoh Kim Keat Heights BTO Project
Although the location of this BTO project is not as close to the city’s core, its transport links are quite convenient. The nearest Braddell MRT station on the purple line is less than a ten-minute walk away. There are also many community centers nearby for various sports and leisure activities. Toa Payoh Mall is also in the vicinity, easily meeting daily needs. Nearby schools include Pei Chun Public School, First Toa Payoh Primary School, and Beatty Secondary School.
The flat types in this project include 2-room, 3-room, and 4-room, with minimum prices of SGD 162,000, SGD 289,000, and SGD 420,000 respectively, which are equivalent to approximately 810,000 RMB, 1.45 million RMB, and 2.1 million RMB.
⑤ Yishun Yishun Beacon BTO Project
This BTO project is very close to Yishun MRT station on the red line, only about a 5-minute walk away. Taking the red line, you can easily reach the Orchard Road shopping belt, making transportation very convenient. Nearby infrastructure and recreational facilities include a swimming complex, parks, and hospitals, making it very suitable for living. There are also many schools in the vicinity, suitable for families to settle down here.
The flat types in this project include 2-room, 4-room, and 5-room, with minimum prices of SGD 123,000, SGD 328,000, and SGD 485,000 respectively, which are equivalent to approximately 620,000 RMB, 1.64 million RMB, and 2.43 million RMB.
Although the prices of BTO flats seem very attractive, foreigners and Singapore Permanent Residents (PRs) are not eligible to purchase BTO flats developed by the government; they are limited to citizens only. If you have a clear interest in purchasing property in Singapore, feel free to consult us. We will provide you with a suitable property purchasing plan and help you calculate the required amounts. Next, let’s continue to look at the prices of Singapore resale HDB flats for the first quarter of 2022!
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- What is the Price of a New HDB Flat in 2022?
Singapore HDB Flat Prices: Resale HDB
As the prices of resale HDB flats are affected by many factors besides geographical location, we cannot simply sort them by district. Therefore, in this section, we will detail the average prices of Singapore resale HDB flats by flat type.
① 3-Room Resale HDB Flats
The area of this flat type is typically between 60 to 65 square meters, suitable for singles or couples. For this flat type, the areas with the lowest prices are Geylang, Toa Payoh, Jurong West, Bedok, and Jurong East, with prices ranging from SGD 300,000 to SGD 340,000, equivalent to approximately 1.5 million to 1.7 million RMB. The areas with the highest prices are the Central Area, Punggol, Sengkang, Bukit Merah, and Choa Chu Kang, with prices ranging from SGD 390,000 to SGD 430,000, equivalent to approximately 1.95 million to 2.15 million RMB.
② 4-Room Resale HDB Flats
The area of this flat type is generally around 90 square meters, suitable for small families. For this flat type, the areas with the lowest prices are Jurong West, Woodlands, Yishun, Bedok, Jurong East, Bukit Panjang, Sembawang, and Choa Chu Kang, with prices ranging from SGD 440,000 to SGD 470,000, equivalent to approximately 2.2 million to 2.35 million RMB. The areas with the highest prices are Queenstown, the Central Area, Kallang, Bukit Merah, and Clementi, with prices ranging from SGD 700,000 to SGD 820,000, equivalent to approximately 3.5 million to 4.1 million RMB.
③ 5-Room Resale HDB Flats
The area of this flat type is usually around 110 square meters, suitable for larger families to live together. For this flat type, the areas with the lowest prices are Woodlands, Sembawang, Jurong West, Sengkang, and Bukit Panjang, with prices ranging from SGD 530,000 to SGD 570,000, equivalent to approximately 2.65 million to 2.85 million RMB. The areas with the highest prices are Queenstown, Toa Payoh, Geylang, Bukit Merah, and Clementi, with prices ranging from SGD 820,000 to SGD 950,000, equivalent to approximately 4.1 million to 4.75 million RMB.
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Although the prices of resale HDB flats are slightly higher than BTO flats, the Singapore government has fewer restrictions on purchasing this type of property. Singapore Permanent Residents who meet certain conditions can also buy resale HDB flats. After gaining a preliminary understanding of Singapore HDB flat prices and purchasing policies in 2022, if you have any thoughts of acquiring property in Singapore, please feel free to consult us.
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