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HDB Resale Flat Prices in Singapore: How Much To Pay in 2024

HDB Resale Price
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As early as the second half of the year 2022, HDB resale prices have gone through the roof as demand for HDB resale flats far exceeded the supply factor. HDB resale prices are on a high for the 22nd straight month as April hit.

The Singapore Housing & Development Board has definitely seen an increase based on a year to year comparison of the Resale Price Index. The transaction for HDB resale flats also decreased based on the same statistical analysis intended for these properties.

Despite the increase of HDB resale prices, there are certain upsides in looking for an HDB flat that could balance out the hefty resale prices. Some of which are the readily available interior design that the previous owner did when he placed the rent. 

HDB resale price index

According to the most recent statistics involving the HDB Resale Price Index, there was a 2.4% increase for the 1st Quarter of 2022 and is pegged at 159.5. Compared to the 1st quarter HDB Resale Price index of 2021 which is only at 142.2. 

In the same study, the 142.2 index of the 1st Quarter of 2021 was already at 3.0% from the year before that. It is evident through these numbers that the HDB Resale Price Index only keeps increasing.

HDB Resale Price Index has always been the indicator for the overall price movement of public housing in Singapore. The way it is calculated is that resale transactions are registered each quarter of every year based on flat types and what town it is in.

2022 Price tag for HDB resale flats

Different towns amount to different prices ranges all according to the development currently in the area. Finding the best place for you to settle down without drying up your finances would be the best course of action. Read our article on everything you need to know when buying your second property in Singapore.

Here is a quick run down of the median price for the most common of all HDB flats, the four-room HDB flat:

  • Ang Mo Kio — $475,000
  • Bedok — $450,000
  • Bishan — $629,000
  • Bukit Batok — $480,000
  • Bukit Merah — $750,000
  • Bukit Panjang — $455,000
  • Central Area — $811,000
  • Choa Chu Kang — $470,000
  • Clementi — $703,000
  • Geylang — $530,000
  • Hougang — $487,000
  • Jurong East — $450,000
  • Jurong West — $440,000
  • Kallang/Whampoa — $755,000
  • Pasir Ris — $490,000
  • Punggol — $520,000
  • Queenstown — $820,000
  • Sembawang — $466,500
  • Sengkang — $510,000
  • Serangoon — $492,500
  • Tampines — $498,000
  • Toa Payoh — $622,500
  • Woodlands — $450,000
  • Yishun — $450,000

Are you planning to purchase a new property while you are waiting for your current property to be sold? Apply for a bridging loan, it will help  you “bridge” the gap between your new property and the sale of your old one.

Median Rents for Approved Applications to Rent Out HDB Flats

Much like the prices for HDB resale flats, the rental fees of each corresponding HDB flats in different parts of Singapore will have a significant change higher or lower the the others.

Alternatively, here is an easy access to the median prices for four-room HDB Flat rentals in the 1st Quarter of 2022:

  • Ang Mo Kio — $2,350
  • Bedok — $2,200
  • Bishan — $2,500
  • Bukit Batok — $2,100
  • Bukit Merah — $2,800
  • Bukit Panjang — $2,100
  • Central Area — $3,000
  • Choa Chu Kang — $2,050
  • Clementi — $2,600
  • Geylang — $2,500
  • Hougang — $2,200
  • Jurong East — $2,300
  • Jurong West — $2,200
  • Kallang/Whampoa — $2,600
  • Pasir Ris — $2,200
  • Punggol — $2,300
  • Queenstown — $2,900
  • Sembawang — $2,100
  • Sengkang — $2,200
  • Serangoon — $2,300
  • Tampines — $2,300
  • Toa Payoh — $2,450
  • Woodlands — $2,100
  • Yishun — $2,100

HDB resale prices vs BTO prices

If you compare an HDB Flat and a Build-To-Order unit, may it be a four-room unit or not, an HDB Flat has already been under certain renovations based on the specifications of the previous owner. BTO flats however are considered to be a blank canvas wherein you are free to design it accordingly. 

Check out this quick comparison of HDB Resale Prices and BTO Prices on four-room flats located in various towns in Singapore:

BTO Flats

  • Yishun (non-mature estates) – $270,000 – $276,000
  • Geylang (non-mature estates) – $522,000
  • Kallang/Whampoa (non-mature estates) – $488,000

HDB Resale Flats

  • Yishun (media resale prices) – $450,000
  • Geylang (media resale prices) – $530,000
  • Kallang/Whampoa (media resale prices) – $755,000

Coins Stacked With Housing Model

Comparison of grants between HDB Resale and BTO 

There is a lot more HDB grants potentially available to those looking for resale transactions rather than those looking at the BTO flat type. 

Primarily, Family Grant amounting to $50,000 and Proximity Housing Grant up to $30,000 is only applicable for HDB resale prices.

Shifting over to Singles Grant however, BTO flats can amount up to $40,000 while HDB Flats only get up to $25,000. With that in mind, both the HDB Flat and BTO flat are entitled to an Enhanced CPF Housing Grant for first timer applicants up to $80,000.

Is it worth buying an HDB Resale Flat?

With the current developments made by the COVID-19 pandemic, restricting movement and mandating companies to shift from a traditional setting to a work from home set-up. 

If there is one definite change that the pandemic brought about, it is the yearning for a more comfortable and spacious home enough to motivate those working from the comfort of their homes.

Long and short of it all, BTO construction delays were more frequent leading to a longer completion date which can be worrisome and eventually leading to cancellation of BTO Flat applications. These events led to a sudden shift to the HDB resale market reflecting the continued increase of HDB Resale Flat prices.

What do you need to check before buying?

First and foremost, fully utilize the HDB Resale Price index webpage. In here, you will be able to search the resale registration date, HDB town, and flat type to finally locate your HDB Resale flat of choice.

You can even search for more specific parameters such as block number, the range of transacted prices, and street name. The good thing about utilizing this platform prior to choosing your HDB resale flat is that the information available is updated daily.

Recent trend in HDB Resale Prices

There have been undeniable price surges with the HDB Resale prices, increases seen both with the mature and non-mature estates. Mature estates rose by 1 percent while non-mature estates rose 1.2 percent. This data is more than half compared to the statistics by March 2022 wherein mature estates only rose 0.5 percent while non-mature estates only rose 0.9 percent.

Likewise, the HDB resale price volume increased by 0.2 percent representing an estimated 2,273 units that have changed hands by April. A mere 4-units additional from the 2,269 units that changed hands last march.

Also, around 22 HDB Resale flats were transferred over to the new owner that amounted to $1 million. From these 22, the transferred HDB flats were located in the Central area, Bukit Merah, Clementi, Serangoon, Ang Mo Kio, Bishan, and Toa Payoh.

Highest grossing HDB Resale

Just this year, a record highest transacted price for a four-room HDB flat was resold at a whopping $1.228 million for a unit that is located in Pinnacle@Duxton. Aside from this, another five-room HDB flat was also sold for $1.228 million also from a unit in Pinnacle@Duxton.

Both the four-room and five-room HDB flats that were resold at a price tag of $1.228 was set to be the highest transacted price for a HDB Resale Flat in April.


Choosing a home is one of the many joys in life, whether you get to build it from scratch through the BTO or adapt to a HDB resale flat, at the end of the day – your home is what you make out of it. Maybe you’re looking into buying an HDB Flat or just renting one out, always check your current financial capacities as opposed to the cost of what you are getting.

Key Takeaways

  • HDB Resale Price Index – Fully utilize this service to get an overview of the HDB flat choices that you may be looking into. Be keen on the range of transacted prices when considering your HDB flat of choice.
  • Browse through different towns – There are different price ranges from HDB resale flats depending on the area. Always consider your possible proximity concerns and balance it out with the financial aspect.
  • Check available information daily – If you still have time before an intended moving in, be sure to browse and double check information on the Singapore Housing & Development Board website as it is updated daily.
  • Know the market – Most of the owners of HDB flats prefer to live in their own invested assets. Only a few of which maintain the flats to be used as further investment. Aside from knowing the details through the online platform, try to do groundwork and check if there are owners who are planning to downgrade.

Need that additional boost of finances to jumpstart to close your resale flat deal? Check out Loan Advisor – a trusted loan comparison site that gives you access to different loan products well suited for your needs. Get your free three loan quotes today!

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