sgcommercialguru: it works!!

Home

The place To Discover The Least expensive 4-room Resale HDB Flats In 2024 (From $350,000)



Resale HDB



7 min read

2024 is an important month, coming in at the tail end of the housing supply craze. With home production ramping up in the past two years, and Covid firmly in the rearview mirror, some HDB buyers are hoping for a break – but while the situation is seemingly better, it’s hard to say if we’ll see lower prices this very year. Here’s a look at how things are shaping up so far:

The HDB resale situation in 2024

One of the biggest changes on the resale scene is from the BTO side of the equation. In August last year, the government ended the old system of mature versus non-mature flats; and flats are now classed into Prime, Plus, and Standard. We already have some Prime housing, and 2024 will see the first batch of Plus model flats in the Bayshore area.

Over the coming year, we may see the effect of the new housing model start to sink in. Plus and Prime flats may draw buyers who want a better HDB location, but who have no interest in upgrading*. This could allow some BTO launches to siphon demand from the resale segment. 

SkyParc@Dawson 103 block design

Conversely, we may see an uptick in prices of flats that are very close to Plus or Prime model launches. This is because nearby flats have the same locational advantages, but don’t have drawbacks like a 10-year MOP or Subsidy Recovery (SR) clawbacks. 

This aside, OrangeTee and Huttons forecast a three to five per cent increase in average flat prices for 2024, while PropNex places the number at four to five per cent. This is a slower pace of growth compared to the past two years, due to the increased supply. 

And as mentioned before, one other possible factor which may cap price growth is the rising interest rates. While HDB loan rates remain the same (2.6 per cent), some buyers are forced to use bank loans instead; these buyers may be increasingly resistant to high prices, given that rates began to approach the four per cent mark in late 2023. 

Overall, it’s not the huge price drop that some buyers have been hoping for; but buyers are in a slightly better position compared to the immediate aftermath of Covid. 

*Upgraders tend to prefer resale flats to BTO flats, as they can upgrade in exactly five years with no construction time. 

How 4-room flat prices moved in 2023 non-mature towns

These are how prices have moved in non-mature towns, over the past year:

Non Mature 2023-H1 2023-H2
Town Average Price Average Age Vol Average Price Average Age Vol Change in price
BUKIT BATOK $586,602 17 271 $587,564 16 380 0.2%
BUKIT PANJANG $510,619 23 163 $518,928 24 204 1.6%
CHOA CHU KANG $496,403 23 251 $506,556 22 345 2.0%
HOUGANG $531,475 27 256 $555,772 24 425 4.6%
JURONG EAST $477,531 35 68 $502,986 31 74 5.3%
JURONG WEST $487,880 26 234 $506,929 25 363 3.9%
PUNGGOL $584,540 10 472 $603,140 10 587 3.2%
SEMBAWANG $537,371 12 184 $549,535 11 344 2.3%
SENGKANG $564,766 14 401 $571,118 15 624 1.1%
WOODLANDS $487,200 23 433 $508,784 22 525 4.4%
YISHUN $489,008 26 402 $505,090 25 468 3.3%

Cheapest 4-room flats categorised by age:

10 years and below

Town Address Floor Range Size Lease Start Price
CHOA CHU KANG 803B KEAT HONG CL 04 TO 06 93 2017 $400,000
WOODLANDS 780C WOODLANDS CRES 04 TO 06 92 2015 $475,000
BUKIT PANJANG 547A SEGAR RD 04 TO 06 92 2015 $480,000
WOODLANDS 783A WOODLANDS RISE 04 TO 06 93 2018 $480,000
BUKIT PANJANG 550B SEGAR RD 04 TO 06 92 2015 $480,000
SENGKANG 164A RIVERVALE CRES 04 TO 06 93 2017 $480,000
SEMBAWANG 463B SEMBAWANG DR 07 TO 09 92 2015 $480,000
WOODLANDS 782D WOODLANDS CRES 13 TO 15 92 2015 $480,000
SENGKANG 178B RIVERVALE CRES 04 TO 06 93 2015 $485,000
YISHUN 333C YISHUN ST 31 07 TO 09 92 2015 $492,000
SEMBAWANG 590B MONTREAL LINK 04 TO 06 93 2015 $495,000
PUNGGOL 121B EDGEDALE PLAINS 04 TO 06 93 2017 $495,000

11 – 20 years old

Town Address Floor Range Size Lease Start Price
YISHUN 452 YISHUN RING RD 07 TO 09 92 2012 $498,000
SEMBAWANG 510A WELLINGTON CIRCLE 04 TO 06 90 2004 $468,000
BUKIT BATOK 392 BT BATOK WEST AVE 5 04 TO 06 92 2004 $470,000
JURONG WEST 676B JURONG WEST ST 64 07 TO 09 92 2008 $470,000
SEMBAWANG 486 ADMIRALTY LINK 04 TO 06 90 2004 $473,888
SEMBAWANG 509A WELLINGTON CIRCLE 10 TO 12 90 2004 $475,000
HOUGANG 984A BUANGKOK LINK 10 TO 12 85 2004 $478,000
PUNGGOL 171A EDGEDALE PLAINS 07 TO 09 86 2004 $480,000
PUNGGOL 161A PUNGGOL CTRL 07 TO 09 95 2004 $480,000
SENGKANG 207A COMPASSVALE LANE 10 TO 12 92 2005 $486,000
WOODLANDS 12C MARSILING LANE 04 TO 06 93 2013 $488,000
SENGKANG 405C FERNVALE LANE 04 TO 06 93 2004 $490,000
CHOA CHU KANG 476B CHOA CHU KANG AVE 5 07 TO 09 92 2013 $490,000
WOODLANDS 689D WOODLANDS DR 75 10 TO 12 90 2004 $490,000
JURONG WEST 675A JURONG WEST ST 64 13 TO 15 92 2008 $490,000
SENGKANG 406A FERNVALE RD 07 TO 09 90 2004 $491,000
SENGKANG 152 RIVERVALE CRES 04 TO 06 91 2005 $492,000
BUKIT BATOK 384 BT BATOK WEST AVE 5 04 TO 06 92 2005 $495,000
BUKIT PANJANG 630 SENJA RD 04 TO 06 90 2004 $495,000
SENGKANG 150 RIVERVALE CRES 04 TO 06 91 2005 $495,000
JURONG WEST 677B JURONG WEST ST 64 10 TO 12 90 2008 $495,000
SEMBAWANG 508C WELLINGTON CIRCLE 07 TO 09 90 2004 $496,000
PUNGGOL 172C EDGEDALE PLAINS 07 TO 09 85 2004 $498,000

21 – 30 years old

Town Address Floor Range Size Lease Start Price
WOODLANDS 428 WOODLANDS ST 41 10 TO 12 84 1996 $428,000
JURONG WEST 276C JURONG WEST ST 25 04 TO 06 90 2002 $438,000
CHOA CHU KANG 685C CHOA CHU KANG CRES 07 TO 09 85 2002 $438,000
WOODLANDS 554 WOODLANDS DR 53 04 TO 06 90 1999 $439,998
SEMBAWANG 407 SEMBAWANG DR 10 TO 12 90 2001 $440,000
SENGKANG 185D RIVERVALE CRES 13 TO 15 85 2000 $440,000
SENGKANG 185B RIVERVALE CRES 04 TO 06 88 2000 $445,000
WOODLANDS 604 WOODLANDS DR 42 04 TO 06 91 1997 $445,000
SENGKANG 184C RIVERVALE CRES 07 TO 09 85 2003 $446,000
JURONG WEST 275B JURONG WEST ST 25 04 TO 06 90 2002 $448,000
JURONG WEST 655A JURONG WEST ST 61 04 TO 06 86 2002 $448,000
CHOA CHU KANG 442 CHOA CHU KANG AVE 4 13 TO 15 91 1997 $448,888

More than 30 years old

Town Address Floor Range Size Lease Start Price
WOODLANDS 104 WOODLANDS ST 13 04 TO 06 91 1985 $350,000
WOODLANDS 7 MARSILING DR 04 TO 06 88 1976 $360,000
WOODLANDS 25 MARSILING DR 10 TO 12 91 1977 $360,000
WOODLANDS 205 MARSILING DR 07 TO 09 91 1980 $363,000
WOODLANDS 8 MARSILING DR 07 TO 09 88 1976 $368,000
WOODLANDS 26 MARSILING DR 07 TO 09 91 1977 $368,000
WOODLANDS 22 MARSILING DR 07 TO 09 92 1977 $368,000
WOODLANDS 5 MARSILING DR 16 TO 18 90 1974 $370,000
WOODLANDS 27 MARSILING DR 07 TO 09 91 1977 $380,000
WOODLANDS 34 MARSILING DR 10 TO 12 98 1978 $384,000
WOODLANDS 201 MARSILING DR 04 TO 06 91 1980 $385,000
YISHUN 280 YISHUN ST 22 07 TO 09 84 1985 $385,000
YISHUN 408 YISHUN AVE 6 04 TO 06 84 1988 $388,000
JURONG EAST 243 JURONG EAST ST 24 04 TO 06 94 1983 $390,000
YISHUN 279 YISHUN ST 22 07 TO 09 84 1985 $390,000
YISHUN 407 YISHUN AVE 6 04 TO 06 84 1988 $392,000
HOUGANG 15 HOUGANG AVE 3 13 TO 15 82 1975 $393,000
BUKIT PANJANG 236 BT PANJANG RING RD 04 TO 06 84 1988 $395,000
WOODLANDS 28 MARSILING DR 07 TO 09 97 1977 $395,000
WOODLANDS 29 MARSILING DR 10 TO 12 97 1979 $396,000

Some general observations:

Amongst the oldest flats (30 years or more), Woodlands dominates the list. At $330,000 to $385,000, which is almost as low as some BTO counterparts today, it would seem Woodlands has some of the most affordable flats in Singapore. However, this can give a misleading picture. 

However, don’t mistake the abundance of cheaper flats in Woodlands as a sign that Woodlands is as “ulu” as before. Note that in terms of overall price movement, Woodlands is the third highest, seeing a rise of 4.4 per cent between the first and second half of 2023. 

This could be a sign of things to come as the development of Woodlands North Coast – and indeed Woodlands as a Regional Centre for the North – continues to unfold. Over the long term, this can provide more room for appreciation. 

For those worried about lease decay (i.e., you want a newer flat), Woodlands along with Choa Chu Kang and Bukit Panjang may be good places to look. 4-room flats here are still well below the $500,000 mark, even if they’re less than 10 years old.

Cheapest 4-room flats in mature towns

Mature 2023-H1 2023-H2
Town Average Price Average Age Vol Average Price Average of age Vol Change in price
ANG MO KIO $647,715 30 156 $649,875 31 188 0.3%
BEDOK $563,866 32 207 $578,993 32 244 2.7%
BISHAN $687,918 33 77 $720,134 33 116 4.7%
BUKIT MERAH $783,622 20 182 $817,967 19 246 4.4%
BUKIT TIMAH $748,861 39 8 $764,975 39 8 2.2%
CENTRAL AREA $895,772 28 36 $929,963 28 41 3.8%
CLEMENTI $661,292 30 100 $679,443 30 118 2.7%
GEYLANG $612,935 33 115 $665,882 31 126 8.6%
KALLANG/WHAMPOA $729,560 24 145 $789,148 22 149 8.2%
MARINE PARADE $571,750 49 12 $569,478 49 23 -0.4%
PASIR RIS $552,917 29 119 $577,902 28 150 4.5%
QUEENSTOWN $844,174 16 120 $873,275 16 141 3.4%
SERANGOON $590,597 35 80 $603,247 37 108 2.1%
TAMPINES $567,490 30 291 $584,882 30 383 3.1%
TOA PAYOH $720,745 27 76 $747,118 26 124 3.7%

Cheapest 4-room flat by age

Less than 10 years old

Town Address Floor Range Size Lease Start Price
TAMPINES 492G TAMPINES ST 45 04 TO 06 92 2018 $600,000
TAMPINES 869A TAMPINES AVE 8 10 TO 12 92 2015 $610,000
TAMPINES 879A TAMPINES AVE 8 04 TO 06 93 2017 $630,000
PASIR RIS 526A PASIR RIS ST 51 10 TO 12 93 2015 $630,000
BEDOK 808C CHAI CHEE RD 04 TO 06 88 2016 $655,000
TAMPINES 871B TAMPINES ST 86 04 TO 06 94 2017 $660,000
TAMPINES 890A TAMPINES AVE 1 04 TO 06 93 2015 $665,000
TAMPINES 606B TAMPINES ST 61 04 TO 06 92 2020 $675,000
BEDOK 186B BEDOK NTH ST 4 04 TO 06 93 2018 $690,000

11 – 20 years old

Town Address Floor Range Size Lease Start Price
KALLANG/WHAMPOA 19 JLN TENTERAM 04 TO 06 85 2004 $608,000
KALLANG/WHAMPOA 18 JLN TENTERAM 07 TO 09 85 2004 $618,000
BUKIT MERAH 109A DEPOT RD 07 TO 09 90 2006 $658,000
BEDOK 183 BEDOK NTH RD 07 TO 09 92 2005 $660,000
BUKIT MERAH 112B DEPOT RD 19 TO 21 100 2006 $662,000
BEDOK 182 BEDOK NTH RD 04 TO 06 92 2006 $667,000
ANG MO KIO 309A ANG MO KIO ST 31 07 TO 09 90 2006 $678,888
TOA PAYOH 79E TOA PAYOH CTRL 07 TO 09 76 2009 $680,000
BEDOK 185 BEDOK NTH RD 13 TO 15 92 2005 $680,000
BEDOK 180 BEDOK NTH RD 16 TO 18 92 2006 $685,000
ANG MO KIO 316A ANG MO KIO ST 31 07 TO 09 95 2006 $690,000

21 – 30 years old

Town Address Floor Range Size Lease Start Price
TAMPINES 346 TAMPINES ST 33 07 TO 09 109 1996 $485,000
TAMPINES 353 TAMPINES ST 33 04 TO 06 107 1996 $520,000
PASIR RIS 142 PASIR RIS ST 11 04 TO 06 108 1994 $520,000
TAMPINES 316 TAMPINES ST 33 04 TO 06 107 1995 $520,000
TAMPINES 352 TAMPINES ST 33 10 TO 12 107 1996 $525,000
PASIR RIS 633 PASIR RIS DR 3 04 TO 06 104 1995 $528,000
TAMPINES 349 TAMPINES ST 33 04 TO 06 105 1996 $530,000
PASIR RIS 641 PASIR RIS DR 1 04 TO 06 104 1995 $535,000
TAMPINES 366 TAMPINES ST 34 04 TO 06 100 1997 $535,000
PASIR RIS 749 PASIR RIS ST 71 04 TO 06 105 1996 $535,000
TAMPINES 365 TAMPINES ST 34 04 TO 06 101 1997 $535,000
TAMPINES 361 TAMPINES ST 34 07 TO 09 107 1996 $535,000
PASIR RIS 744 PASIR RIS ST 71 10 TO 12 103 1996 $535,000
PASIR RIS 750 PASIR RIS ST 71 07 TO 09 106 1996 $538,888
PASIR RIS 627 PASIR RIS DR 3 04 TO 06 104 1995 $540,000
PASIR RIS 148 PASIR RIS ST 13 04 TO 06 115 1995 $540,000
KALLANG/WHAMPOA 16 JLN TENTERAM 04 TO 06 86 2002 $540,000
SERANGOON 548 SERANGOON NTH AVE 3 07 TO 09 100 1998 $540,000
PASIR RIS 753 PASIR RIS ST 71 07 TO 09 105 1996 $542,000
TAMPINES 320 TAMPINES ST 33 04 TO 06 112 1995 $545,000
TAMPINES 364 TAMPINES ST 34 07 TO 09 102 1997 $545,000
TAMPINES 741 TAMPINES ST 72 07 TO 09 101 1997 $548,000
PASIR RIS 771 PASIR RIS ST 71 10 TO 12 105 1996 $548,000

More than 30 years old

Town Address Floor Range Size Lease Start Price
GEYLANG 35 CIRCUIT RD 16 TO 18 83.1 1971 $350,000
TOA PAYOH 227 LOR 8 TOA PAYOH 10 TO 12 82 1976 $400,000
BEDOK 36 BEDOK STH AVE 2 04 TO 06 84 1977 $402,000
ANG MO KIO 622 ANG MO KIO AVE 9 04 TO 06 100 1980 $415,000
BEDOK 34 BEDOK STH AVE 2 10 TO 12 90 1977 $415,000
BEDOK 35 CHAI CHEE AVE 04 TO 06 82 1975 $420,000
BUKIT MERAH 102 HENDERSON CRES 04 TO 06 80 1970 $420,000
BEDOK 41 BEDOK STH RD 04 TO 06 84 1977 $420,000
TOA PAYOH 227 LOR 8 TOA PAYOH 10 TO 12 82 1976 $420,000
TOA PAYOH 227 LOR 8 TOA PAYOH 10 TO 12 82 1976 $420,000
BISHAN 25 SIN MING RD 04 TO 06 88 1974 $425,000
TOA PAYOH 226 LOR 8 TOA PAYOH 07 TO 09 82 1976 $425,000
TOA PAYOH 228 LOR 8 TOA PAYOH 16 TO 18 82 1976 $425,000
BEDOK 141 BEDOK RESERVOIR RD 04 TO 06 84 1986 $428,000
CLEMENTI 510 WEST COAST DR 07 TO 09 83 1978 $430,000
BEDOK 7 BEDOK STH AVE 2 07 TO 09 82 1976 $430,000
TOA PAYOH 227 LOR 8 TOA PAYOH 13 TO 15 82 1976 $430,000
BEDOK 6 BEDOK STH AVE 2 07 TO 09 82 1976 $435,000
BEDOK 37 BEDOK STH AVE 2 10 TO 12 84 1977 $435,000
BEDOK 127 BEDOK NTH ST 2 04 TO 06 92 1978 $438,000
BEDOK 34 BEDOK STH AVE 2 13 TO 15 90 1977 $439,000
BEDOK 36 BEDOK STH AVE 2 04 TO 06 84 1977 $440,000
BEDOK 52 NEW UPP CHANGI RD 13 TO 15 84 1977 $440,000
BEDOK 53 NEW UPP CHANGI RD 13 TO 15 84 1977 $440,000
TOA PAYOH 219 LOR 8 TOA PAYOH 16 TO 18 82 1978 $441,800
BUKIT MERAH 23 TELOK BLANGAH CRES 04 TO 06 82 1975 $443,000
TOA PAYOH 227 LOR 8 TOA PAYOH 10 TO 12 82 1976 $445,000
TOA PAYOH 213 LOR 8 TOA PAYOH 10 TO 12 82 1975 $445,000
BEDOK 704 BEDOK RESERVOIR RD 10 TO 12 102 1981 $448,000
CLEMENTI 712 CLEMENTI WEST ST 2 10 TO 12 91 1980 $448,888
BEDOK 37 BEDOK STH AVE 2 13 TO 15 84 1977 $449,888

Some general observations:

Tampines does have a lot of fairly new, yet affordable (below $650,000) resale flats; but unsurprisingly, these are not the flats in the most popular part of Tampines (that would be Tampines Central, where the malls and offices are at). 

Tampines GreenRidges 96 blocks

Tampines Street 45 and Tampines Avenue 8 are quite far from the MRT, and the nearest stations are Tampines East or Tampines West on the Downtown Line (unlike Tampines Central with access to the East-West Line). Nonetheless, if you’re not fussy, there’s usually a bus connection to the MRT stations, or to Tampines Central (which is accessible from Tampines East and Tampines West also). All in, we’d say it’s not a bad deal, for a flat that might be under six years old. 

Meanwhile, 35 Circuit Road, in Geylang, has a rather eye-opening transaction of $350,000 for a 4-room flat; low given how convenient the location is. It’s within walking distance of Mattar MRT (DTL), and local amenities like the hawker centre and market are all a short stroll away. You can also get to Macpherson MRT (DT/CC) with relative ease. Paya Lebar, a major commercial hub, is also nearby. Perhaps it’s just a certain stigma about it being an “old people’s area,” but it is quite underrated for that price. 

The rest of the list can be described as “the usual suspects.” We don’t think anyone would be surprised to read that Bedok and Pasir Ris are among the more affordable mature areas. 

The resale flat market is slowing overall, but areas near Prime and Plus model housing may resist the loss of momentum 

As mentioned above, the lack of Plus and Prime restrictions may cause these flats to actually increase in price, at least in the near term. As such, there still isn’t much opportunity for first-time or lower-budget buyers, in traditional hotspots like Queenstown or Tanjong Pagar. 

If you’re dead set on such locations, you may have to do with an older non-central flat for now, and aim to upgrade into these places later on. 

For more market updates, follow us on Stacked. You can also contact us if you need help finding the right flat, or if you’re contemplating an upgrade this year. 





Source link –

× How can I help you?