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Resale HDB



8 min read

Resale flat prices may be seeing slower growth, but they’re still past any price level prior to Covid; and from the look of things, the $500,000 resale 5-room flat may be a thing of the past. Or is it? As it turns out, it’s still barely possible from what we’ve seen in 2023, depending on which districts you look in. For those of you who are on a budget, but absolutely must get a resale 5-room, here are some towns you might want to look into:

First, a look at 5-room flat price movements over 2023

Non-mature estate price movement

Non Mature 2023-H1 2023-H2
Town Average Price Average Age Vol Average Price Average Age Vol Change in price
BUKIT BATOK $763,769 11 109 $760,953 13 153 -0.4%
BUKIT PANJANG $629,501 24 85 $633,953 25 116 0.7%
CHOA CHU KANG $589,032 22 166 $595,355 22 200 1.1%
HOUGANG $679,737 24 119 $687,979 26 168 1.2%
JURONG EAST $645,533 35 39 $634,492 36 66 -1.7%
JURONG WEST $597,885 24 181 $591,198 24 269 -1.1%
PUNGGOL $673,538 13 246 $686,427 13 360 1.9%
SEMBAWANG $603,984 18 110 $610,027 18 145 1.0%
SENGKANG $633,313 17 287 $641,910 18 347 1.4%
WOODLANDS $592,628 22 275 $598,553 24 312 1.0%
YISHUN $638,276 20 149 $653,321 21 170 2.4%

Mature estate price movement

Mature 2023-H1 2023-H2
Town Average Price Average Age Vol Average Price Average of age Vol Change in price
ANG MO KIO $785,782 34 49 $820,949 31 75 4.5%
BEDOK $701,765 34 79 $707,850 36 139 0.9%
BISHAN $899,107 34 42 $924,457 33 61 2.8%
BUKIT MERAH $876,619 29 71 $977,400 29 97 11.5%
BUKIT TIMAH $991,944 35 2 $1,064,444 37 9 7.3%
CENTRAL AREA $1,230,625 18 8 $1,212,861 22 8 -1.4%
CLEMENTI $840,802 33 33 $915,258 26 34 8.9%
GEYLANG $790,107 38 25 $793,978 38 44 0.5%
KALLANG/WHAMPOA $846,699 32 46 $904,133 29 62 6.8%
MARINE PARADE $864,924 49 16 $891,093 48 20 3.0%
PASIR RIS $652,452 30 98 $672,427 29 99 3.1%
QUEENSTOWN $993,103 28 26 $951,308 35 26 -4.2%
SERANGOON $670,536 32 27 $740,991 33 39 10.5%
TAMPINES $696,811 28 191 $696,460 31 234 -0.1%
TOA PAYOH $907,131 30 55 $912,249 29 59 0.6%

Generally, there’s not much change since last year; the stand-outs being Bukit Merah and Serangoon. The big price jump in Bukit Merah was due to a record-breaking $1.45 million transaction, while earlier last year we had pointed out the noticeable pick-up in Serangoon resale prices

City Vue @Henderson Review

Broadly speaking, however, prices in many HDB towns have lost some momentum, which provides a glimmer of hope for buyers. We’d also note that HDB ramped up production over 2022/23, and as those new flats hit their MOP and join the resale market, we don’t see a probability of the same meteoric price rise in previous years. 

Now, on to where we found the cheapest flats

Age is a factor here, and if we just went by the absolute lowest quantum, we’d end up with just the very oldest flats. This may not work for everyone (e.g., if the least doesn’t last till the youngest borrower reaches 95 years old, there will be restrictions on CPF usage). So we’ve broken these up by age instead.

In addition, we know HDB doesn’t use mature and non-mature categorisations anymore; but we’ve continued using these, as most Singaporeans still evaluate the neighbourhood along the same lines.

Let’s start with non-mature HDB towns

Non-mature flats under 10 years of age

Town Address Floor Range Size Lease Start Price
CHOA CHU KANG 485A CHOA CHU KANG AVE 5 04 TO 06 113 2016 $570,000
WOODLANDS 787D WOODLANDS CRES 04 TO 06 112 2015 $570,000
YISHUN 335C YISHUN ST 31 04 TO 06 112 2015 $575,000
WOODLANDS 519 WOODLANDS CRES 04 TO 06 112 2015 $575,000
WOODLANDS 511 WOODLANDS CRES 04 TO 06 112 2015 $580,000
CHOA CHU KANG 810A CHOA CHU KANG AVE 5 04 TO 06 113 2016 $580,000
YISHUN 428B YISHUN AVE 1 04 TO 06 112 2015 $580,000
WOODLANDS 777 WOODLANDS CRES 07 TO 09 112 2015 $583,000
CHOA CHU KANG 490D CHOA CHU KANG AVE 5 04 TO 06 113 2016 $590,000
YISHUN 770 YISHUN AVE 11 04 TO 06 112 2015 $590,000
CHOA CHU KANG 488D CHOA CHU KANG AVE 5 07 TO 09 113 2016 $590,000
CHOA CHU KANG 810B CHOA CHU KANG AVE 5 04 TO 06 113 2016 $595,000
CHOA CHU KANG 817B KEAT HONG CL 04 TO 06 113 2018 $598,000

Non-mature flats between 11 – 20 years old

Town Address Floor Range Size Lease Start Price
SENGKANG 440B FERNVALE LANE 07 TO 09 111 2004 $515,000
WOODLANDS 638 WOODLANDS DR 75 04 TO 06 110 2004 $520,000
SEMBAWANG 119B ADMIRALTY LINK 07 TO 09 111 2004 $520,000
SEMBAWANG 493 ADMIRALTY LINK 04 TO 06 111 2004 $525,000
SEMBAWANG 507C WELLINGTON CIRCLE 07 TO 09 110 2004 $525,000
SEMBAWANG 120B ADMIRALTY LINK 10 TO 12 110 2004 $525,000
WOODLANDS 653 WOODLANDS DR 75 04 TO 06 110 2004 $528,000
WOODLANDS 638 WOODLANDS DR 75 07 TO 09 110 2004 $528,000
SENGKANG 416B FERNVALE LANE 04 TO 06 112 2004 $530,000
SEMBAWANG 402 ADMIRALTY LINK 07 TO 09 111 2004 $530,000
WOODLANDS 638 WOODLANDS DR 75 10 TO 12 110 2004 $530,000
SEMBAWANG 491 ADMIRALTY LINK 10 TO 12 111 2004 $530,000
SEMBAWANG 120D ADMIRALTY LINK 04 TO 06 112 2004 $530,888
WOODLANDS 690E WOODLANDS DR 75 04 TO 06 110 2004 $532,000
WOODLANDS 634 WOODLANDS DR 75 10 TO 12 110 2004 $533,000
WOODLANDS 689C WOODLANDS DR 75 04 TO 06 110 2004 $535,000
WOODLANDS 689A WOODLANDS DR 75 13 TO 15 110 2004 $535,000
WOODLANDS 690C WOODLANDS DR 75 04 TO 06 110 2004 $540,000
SEMBAWANG 413 SEMBAWANG DR 10 TO 12 110 2006 $540,000
SENGKANG 416C FERNVALE LANE 19 TO 21 112 2004 $540,000
WOODLANDS 687A WOODLANDS DR 75 16 TO 18 110 2004 $541,888
PUNGGOL 106D PUNGGOL FIELD 04 TO 06 110 2004 $545,000
WOODLANDS 659 WOODLANDS DR 75 13 TO 15 110 2004 $545,000

Non-mature flats between 21 – 30 years old

Town Address Floor Range Size Lease Start Price
SENGKANG 186A RIVERVALE DR 04 TO 06 115 2000 $478,000
CHOA CHU KANG 221 CHOA CHU KANG CRES 04 TO 06 110 2003 $478,000
CHOA CHU KANG 679 CHOA CHU KANG CRES 04 TO 06 110 2002 $488,000
SEMBAWANG 353B ADMIRALTY DR 04 TO 06 118 2001 $488,000
SEMBAWANG 120D ADMIRALTY LINK 04 TO 06 110 2001 $490,000
SEMBAWANG 119B ADMIRALTY LINK 10 TO 12 110 2001 $490,000
PUNGGOL 104B EDGEDALE PLAINS 04 TO 06 112 2003 $495,000
CHOA CHU KANG 785 CHOA CHU KANG CRES 04 TO 06 110 2002 $495,000
CHOA CHU KANG 683B CHOA CHU KANG CRES 04 TO 06 110 2002 $495,000
CHOA CHU KANG 684A CHOA CHU KANG CRES 04 TO 06 110 2002 $496,000
JURONG WEST 276C JURONG WEST ST 25 04 TO 06 111 2002 $498,000
SENGKANG 188C RIVERVALE DR 04 TO 06 109 2001 $498,888

Non-mature flats above 30 years old

Town Address Floor Range Size Lease Start Price
WOODLANDS 141 MARSILING DR 10 TO 12 117 1976 $418,000
WOODLANDS 137 MARSILING DR 13 TO 15 118 1977 $430,000
JURONG WEST 197D BOON LAY DR 04 TO 06 120 1976 $450,000
JURONG EAST 60 PANDAN GDNS 10 TO 12 114 1979 $450,000
WOODLANDS 37 MARSILING DR 04 TO 06 124 1978 $460,000
JURONG WEST 200 BOON LAY DR 04 TO 06 121 1976 $470,000
JURONG WEST 351 BOON LAY DR 07 TO 09 113 1976 $470,000
CHOA CHU KANG 18 TECK WHYE LANE 04 TO 06 119 1979 $478,000
WOODLANDS 36 MARSILING DR 04 TO 06 123 1976 $480,000
JURONG WEST 367 BOON LAY DR 07 TO 09 121 1976 $480,000
JURONG WEST 444 BOON LAY DR 07 TO 09 112 1976 $480,000
JURONG EAST 413 PANDAN GDNS 07 TO 09 114 1979 $480,000
WOODLANDS 123 MARSILING DR 13 TO 15 124 1978 $480,000
WOODLANDS 123 MARSILING DR 19 TO 21 117 1976 $480,000
JURONG WEST 427 BOON LAY DR 04 TO 06 120 1976 $480,888
WOODLANDS 129 MARSILING RD 04 TO 06 121 1985 $482,000
JURONG WEST 339B JURONG WEST ST 93 04 TO 06 122 1989 $482,000
WOODLANDS 125 MARSILING DR 04 TO 06 124 1978 $485,000
WOODLANDS 120 MARSILING DR 07 TO 09 118 1977 $485,000
JURONG WEST 197D BOON LAY DR 10 TO 12 121 1976 $485,000
CHOA CHU KANG 13 TECK WHYE LANE 16 TO 18 119 1979 $485,000
JURONG WEST 260 BOON LAY DR 07 TO 09 120 1976 $488,000
JURONG EAST 21 PANDAN GDNS 04 TO 06 117 1979 $488,888
JURONG WEST 200 BOON LAY DR 07 TO 09 122 1976 $488,888
WOODLANDS 831 WOODLANDS ST 13 04 TO 06 121 1985 $490,000
WOODLANDS 137 MARSILING DR 10 TO 12 124 1978 $490,000
CHOA CHU KANG 425 TECK WHYE LANE 13 TO 15 119 1979 $490,000
WOODLANDS 370 MARSILING DR 16 TO 18 118 1977 $490,000
YISHUN 333A YISHUN ST 22 04 TO 06 122 1987 $495,000
CHOA CHU KANG 141 TECK WHYE LANE 16 TO 18 119 1979 $495,000

Overall, the cheapest non-mature towns for 5-room flats are Woodlands, Choa Chu Kang, Sembawang, and Sengkang. 

If you look at the oldest flats, however, Jurong West (and in rarer cases Jurong East) start to make an appearance. This still goes back to the roots of the town; right up to the 1980s, Jurong was a manufacturing hub. The flats that are in the Jurong West area were initially meant for housing blue-collar workers, and hence the oldest ones started at low initial prices.

jurong west central design 1

It’s also possible that the huge transformation of Jurong East, near the MRT station, is far ahead of the changes we’ve seen in Jurong West. One side is the “second CBD” which is a retail powerhouse, with JEM, Westgate, IMM, and so forth; whereas Jurong West is still more known as “that place where foreign workers like to rent.” This is likely to change in the coming years though, as Jurong’s transformation continues.

Conversely, among the youngest HDB flats, Yishun is more prevalent. Putting aside the usual slew of jokes (Yishun has a generally undeserved reputation for weirdness), many Singaporeans still consider Yishun a bit too secluded and far up north, although decentralisation may fix that with time. Besides, additions like Northpoint City mean that you don’t have to travel outside of Yishun to get access to your usual slew of restaurants/cafes and shops.

One notable observation is that, if you’re willing to settle for a 21+ year old, non-mature flat, prices can be below $500,000. The 5-room flats only climb past $500,000 if you want newer flats, for the non-mature towns.

Now let’s look at mature towns

Mature flats below 10 years old

Town Address Floor Range Size Lease Start Price
TAMPINES 491G TAMPINES ST 45 10 TO 12 113 2018 $748,000
TAMPINES 494H TAMPINES ST 45 07 TO 09 113 2018 $748,888
TAMPINES 14 TAMPINES ST 86 04 TO 06 114 2017 $758,000
TAMPINES 494J TAMPINES ST 45 04 TO 06 113 2018 $762,000
TAMPINES 870A TAMPINES ST 86 04 TO 06 113 2017 $770,000
TAMPINES 716 TAMPINES ST 45 04 TO 06 113 2018 $770,000
TAMPINES 703 TAMPINES ST 45 04 TO 06 113 2018 $775,000
TAMPINES 494H TAMPINES ST 45 10 TO 12 113 2018 $775,000
TAMPINES 494H TAMPINES ST 45 07 TO 09 113 2018 $780,000
TAMPINES 714 TAMPINES ST 45 07 TO 09 113 2018 $788,000
TAMPINES 498A TAMPINES ST 45 10 TO 12 113 2018 $788,888
TAMPINES 871C TAMPINES ST 86 04 TO 06 114 2017 $790,000
PASIR RIS 520 PASIR RIS ST 51 07 TO 09 113 2015 $790,000
TAMPINES 497G TAMPINES ST 45 07 TO 09 113 2018 $795,000
TAMPINES 926 TAMPINES ST 86 10 TO 12 114 2017 $795,000
PASIR RIS 526D PASIR RIS ST 51 13 TO 15 113 2015 $798,888

Mature flats between 11 – 20 years old

Town Address Floor Range Size Lease Start Price
KALLANG/WHAMPOA 21 JLN TENTERAM 19 TO 21 105 2004 $758,000
KALLANG/WHAMPOA 14 UPP BOON KENG RD 04 TO 06 110 2006 $775,000
KALLANG/WHAMPOA 4C JLN TENTERAM 25 TO 27 105 2004 $778,000
BUKIT MERAH 50 DEPOT RD 16 TO 18 115 2006 $790,000
KALLANG/WHAMPOA 14A JLN TENTERAM 22 TO 24 105 2004 $790,000

Mature flats between 21 – 30 years old

Town Address Floor Range Size Lease Start Price
TAMPINES 455 TAMPINES ST 34 04 TO 06 121 1996 $585,000
PASIR RIS 146 PASIR RIS ST 11 04 TO 06 126 1994 $600,000
TAMPINES 373 TAMPINES ST 33 07 TO 09 126 1996 $600,000
PASIR RIS 180 PASIR RIS ST 11 07 TO 09 126 1994 $600,000
SERANGOON 523 SERANGOON NTH AVE 4 04 TO 06 121 1997 $603,000
PASIR RIS 225 PASIR RIS ST 21 07 TO 09 134 1994 $610,000
TAMPINES 339 TAMPINES ST 33 04 TO 06 122 1996 $618,000
PASIR RIS 750 PASIR RIS ST 71 04 TO 06 121 1996 $620,000
PASIR RIS 751 PASIR RIS ST 71 07 TO 09 128 1996 $622,000
PASIR RIS 214 PASIR RIS ST 13 04 TO 06 128 1995 $625,000
PASIR RIS 757 PASIR RIS ST 71 10 TO 12 126 1996 $627,000
PASIR RIS 725 PASIR RIS ST 71 07 TO 09 128 1996 $628,000
BEDOK 771 BEDOK RESERVOIR VIEW 04 TO 06 115 2000 $630,000
TAMPINES 342 TAMPINES ST 33 07 TO 09 128 1996 $630,000
TAMPINES 450A TAMPINES ST 34 10 TO 12 121 1997 $630,000
PASIR RIS 255 PASIR RIS ST 21 07 TO 09 127 1994 $630,000
TAMPINES 345 TAMPINES ST 33 04 TO 06 134 1996 $630,000
PASIR RIS 721 PASIR RIS ST 71 04 TO 06 128 1996 $630,000
PASIR RIS 627 PASIR RIS DR 3 04 TO 06 120 1995 $630,000
PASIR RIS 182 PASIR RIS ST 11 07 TO 09 125 1995 $630,000
PASIR RIS 760 PASIR RIS ST 71 04 TO 06 127 1996 $633,888
PASIR RIS 626 PASIR RIS DR 3 04 TO 06 122 1995 $635,000
PASIR RIS 661C PASIR RIS ST 71 04 TO 06 126 1996 $635,000
ANG MO KIO 725 ANG MO KIO AVE 4 04 TO 06 134 1996 $635,000
PASIR RIS 113 PASIR RIS ST 11 07 TO 09 127 1995 $635,000
TAMPINES 360 TAMPINES ST 34 04 TO 06 121 1997 $635,000
PASIR RIS 184 PASIR RIS ST 11 07 TO 09 128 1994 $638,000
TAMPINES 366 TAMPINES ST 34 07 TO 09 121 1997 $638,000
TAMPINES 367 TAMPINES ST 34 04 TO 06 121 1996 $640,000
TAMPINES 367 TAMPINES ST 34 04 TO 06 122 1997 $640,000
TAMPINES 712 TAMPINES ST 71 04 TO 06 120 1997 $642,000
PASIR RIS 228 PASIR RIS ST 21 04 TO 06 134 1994 $643,000
PASIR RIS 760 PASIR RIS ST 71 07 TO 09 125 1996 $645,000
SERANGOON 512 SERANGOON NTH AVE 4 04 TO 06 121 1997 $645,000
PASIR RIS 756 PASIR RIS ST 71 07 TO 09 127 1996 $645,000
TAMPINES 707 TAMPINES ST 71 07 TO 09 120 1997 $645,000
PASIR RIS 458 PASIR RIS DR 10 04 TO 06 127 1996 $645,000
TAMPINES 867 TAMPINES ST 72 13 TO 15 120 1997 $648,000
TAMPINES 346 TAMPINES ST 33 04 TO 06 136 1996 $648,000
PASIR RIS 741 PASIR RIS ST 71 04 TO 06 127 1996 $648,000

Mature flats more than 30 years old

Town Address Floor Range Size Lease Start Price
BEDOK 413 BEDOK NTH AVE 1 04 TO 06 121 1980 $508,000
TAMPINES 294 TAMPINES ST 22 04 TO 06 126 1985 $545,000
BEDOK 613A BEDOK RESERVOIR RD 07 TO 09 120 1982 $548,000
BEDOK 723 BEDOK RESERVOIR RD 04 TO 06 126 1985 $550,000
GEYLANG 7 EUNOS CRES 04 TO 06 123 1977 $560,888
BEDOK 761 BEDOK RESERVOIR RD 07 TO 09 121 1982 $568,000
BEDOK 670 CHAI CHEE ST 04 TO 06 121 1981 $570,000
BEDOK 604 BEDOK RESERVOIR RD 07 TO 09 121 1982 $573,800
BEDOK 671 CHAI CHEE ST 04 TO 06 121 1981 $575,000
BEDOK 613A BEDOK RESERVOIR RD 07 TO 09 121 1981 $580,000
BEDOK 604 BEDOK RESERVOIR RD 07 TO 09 121 1982 $582,000
TAMPINES 388 TAMPINES ST 22 04 TO 06 121 1985 $582,888
BEDOK 54 CHAI CHEE ST 10 TO 12 121 1981 $583,000
BEDOK 30 NEW UPP CHANGI RD 04 TO 06 118 1977 $585,000
TOA PAYOH 218 LOR 8 TOA PAYOH 16 TO 18 117 1976 $588,000
GEYLANG 6 EUNOS CRES 13 TO 15 123 1977 $588,000
GEYLANG 997B UBI AVE 1 04 TO 06 122 1989 $588,000
TAMPINES 279 TAMPINES ST 22 10 TO 12 126 1985 $590,000
BEDOK 629 BEDOK RESERVOIR RD 04 TO 06 123 1982 $590,000
BEDOK 710 BEDOK RESERVOIR RD 07 TO 09 122 1982 $590,000
GEYLANG 15 EUNOS CRES 04 TO 06 123 1977 $590,000
PASIR RIS 551 PASIR RIS ST 21 04 TO 06 128 1993 $590,000
BEDOK 621 BEDOK RESERVOIR RD 04 TO 06 121 1980 $590,000
BEDOK 748B BEDOK NTH ST 4 13 TO 15 117 1978 $590,000
BEDOK 612 BEDOK RESERVOIR RD 04 TO 06 120 1982 $592,000
BEDOK 90 BEDOK NTH RD 10 TO 12 117 1978 $592,000
KALLANG/WHAMPOA 113 UPP BOON KENG RD 13 TO 15 117 1976 $595,000
BEDOK 415 BEDOK NTH AVE 1 07 TO 09 121 1980 $595,000
BEDOK 603 BEDOK RESERVOIR RD 07 TO 09 121 1983 $595,000
BEDOK 142 BEDOK RESERVOIR RD 04 TO 06 122 1986 $595,000
BEDOK 710 BEDOK RESERVOIR RD 10 TO 12 123 1982 $595,000
BEDOK 722 BEDOK RESERVOIR RD 07 TO 09 121 1980 $595,000
GEYLANG 997C UBI AVE 1 04 TO 06 122 1989 $595,000
GEYLANG 13 EUNOS CRES 04 TO 06 117 1977 $596,888
TAMPINES 279 TAMPINES ST 22 04 TO 06 121 1985 $598,888

For mature towns, there’s not a single 5-room flat that’s below $500,000 anymore. The absolute lowest we found was $508,000, for a 30+ year old flat in Bedok. 

That said, Tampines is generally the cheaper option here, if you want a newer 5-room flat. Prices are still north of $740,000, but this may be as cheap as it gets if you want a newer flat that is 10 years old or under. 

The thing about Tampines though, is that it’s a big place: even though it’s a regional centre, a lot of the best qualities are concentrated in Tampines Central – this is where there’s a large cluster of malls, office space, the Tampines MRT station, and so forth. Areas like Tampines Street 45, which are closer to Tampines East MRT, are rather far from this hotspot; so there can be a big discrepancy in the level of convenience.

Bedok South Horizon 100 top view buildings

Among the oldest flats, Bedok is quite prevalent. Bedok used to be the biggest town in Singapore by the way (but it was overtaken by Tampines in the mid-90s, then by Jurong West, and today the biggest is Hougang).

But still, like Tampines, it’s a big area; and although it’s called mature, some areas are still a bit inaccessible. Bedok North Avenue 1, and Bedok Reservoir, for instance, are seemingly light-years apart from Bedok Central, where you find amenities like Bedok Point, the upcoming Sky Eden, etc. So while we can tell you the cheapest 5-room flats are here, this neighbourhood is so large that it’s quite difficult to generalise. 

To be sure, these aren’t the cheapest prices – in fact, they’re probably surprising if this is the first time you’ve checked resale prices since the previous decade. But this is the reality of the market now; and if you can afford to wait and are on a budget, this may be your cue to join the BTO line for now. 

For more on the Singapore property market, follow us on Stacked. You can also check out reviews of new and resale properties alike. 



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