Cost of HDB Flats in Singapore

The price of HDB flats in Singapore matters a lot to home buyers.

In this detailed guide, you’ll find info on HDB flat prices.

This includes new and resale homes. You’ll also learn about housing grants, loans, and subsidies that buyers can get.

As of Q1 2024, HDB resale prices went up by 1.8% from last quarter. This marks sixteen quarters of steady growth.

The number of HDB flat transactions also rose by 8% in that time, the highest jump in over a year.

The rise in HDB resale transaction prices is slowing. The market seems to be cooling down. For instance, prices went up by 10.4% in 2022 but only 4.9% in 2023.

In Q1 2024, the median resale price for a 4-room flat was between $483,400 in Jurong East and $897,500 in Queenstown. Prices can differ a lot between various HDB towns in Singapore.

Key Takeaways

  • The cost of HDB flats in Singapore is a crucial factor for homebuyers.
  • HDB resale prices have continued to increase, but growth has moderated in recent quarters.
  • Prices for 4-room HDB flats range from $483,400 in Jurong East to $897,500 in Queenstown.
  • Buyers can explore housing grants, loans, and subsidies to finance their HDB purchase.
  • Understanding the HDB market is essential for making an informed decision.

Understanding HDB Resale Prices

In Singapore, the HDB resale market is always changing.

Prices move up and down for different reasons.

The latest data shows that from Jurong East to Queenstown, 4-room HDB flat prices varied.

In Jurong East, the median price was $483,400, while in Queenstown, it reached $897,500.

Factors Affecting HDB Resale Prices

Many things affect HDB resale prices.

These include where the flat is, its size, and how old it is.

The lease that’s left on the flat also plays a big role.

Plus, things like interest rates and how affordable housing is can change the market and prices.

Comparing Resale vs BTO Prices

Compared to BTO flat prices, HDB resale prices are usually higher. BTO flat prices are kept low by the HDB. This is to make sure they are affordable.

However, resale flat prices are decided by the market.

Let’s take Queenstown for example.

A 4-room BTO flat in February 2024 was selling from $565,000.

The median resale price in Queenstown for a 4-room flat in Q1 2024 was $897,500.

This shows the big difference between the two types of prices.

It’s important for anyone looking to buy a home in Singapore to understand the HDB resale market.

Knowing about the market can guide buyers to better choices and help them handle the ups and downs of pricing more effectively.

How much does HDB cost in Singapore?

The cost of HDB flats in Singapore can vary a lot.

It depends on the type of flat, its place, and if it’s new or resale.

New HDB BTO flat prices start from about $100,000 for a 2-room unit. They can go over $700,000 for a 5-room flat.

Prices are usually higher in central and popular areas.

New HDB BTO Flat Prices by Location

The latest BTO launch prices show the price range in different Singapore areas.

In Feb 2024, Bedok South Bloom had 2-room Flexi units at $491,000 and 4-room flats also at $491,000.

At Woodlands’ Woodgrove Edge launch in Feb 2024, 2-room Flexi units were from $119,000 and 4-room flats from $303,000.

Queenstown’s Tanglin Halt Courtyard had 2-room Flexi units from $235,000 and 4-room flats from $565,000 in the same month.

Recent BTO Launch Prices

BTO LaunchFlat TypePrice Range
Feb 2024 Bedok South Bloom2-room FlexiFrom $491,000
Feb 2024 Bedok South Bloom4-roomFrom $491,000
Feb 2024 Woodgrove Edge, Woodlands2-room FlexiFrom $119,000
Feb 2024 Woodgrove Edge, Woodlands4-roomFrom $303,000
Feb 2024 Tanglin Halt Courtyard, Queenstown2-room FlexiFrom $235,000
Feb 2024 Tanglin Halt Courtyard, Queenstown4-roomFrom $565,000

Financing Your HDB Purchase

Buying an HDB flat in Singapore offers several ways to help out.

Buyers can get aid from HDB housing grants, subsidies, and loans.

HDB Housing Grants and Subsidies

The Singapore government hands out housing grants and subsidies to aid with HDB purchases.

The Enhanced CPF Housing Grant gives families up to $80,000.

The Step-Up CPF Housing Grant adds another $15,000.

Families living close to parents can use the Proximity Housing Grant and receive up to $30,000.

HDB Loan vs Bank Loan

For financing, buyers have a choice between an HDB loan or a bank loan. HDB loans have lower interest rates and more flexible payback options.

Bank loans, though, come with stricter rules. Yet, they can offer bigger amounts.

It’s key to pick the best loan type for your financial situation. Look at interest rates, loan amounts, and how you pay back. This helps find the right financing fit.

Buying Process for HDB Resale Flats

Buying an HDB resale flat involves several key steps.
First, you must check if you qualify for an HDB flat.
Then, you apply for a letter that proves you can buy an HDB resale flat through the HDB Resale Portal.

HDB Flat Eligibility and Application

Before starting, make sure you can purchase an HDB resale flat. This means looking at your citizenship, income, and if you’ve had an HDB flat before.

Then, apply for the HFE letter on the HDB portal if you’re eligible.

Resale Checklist and Timeline

With the HFE letter in hand, it’s time to find your ideal HDB resale flat. You’ll view flats, talk over prices, and apply to buy. The HDB resale checklist helps you remember important steps, like getting resale approval and finishing the sale.

The whole HDB resale transaction usually takes 8 to 12 weeks. Keep this timeframe in mind as you plan your move. This helps make the process smooth and stress-free.

Prime Location Public Housing (PLH)

Prime Location Public Housing (PLH) is a new way HDB is offering homes in Singapore. It makes sure affordable homes are available in great spots.

This means people can live in areas that were mostly for private homes.

What is PLH?

PLH means homes built in top spots. They are close to big businesses and transport.

They are made to meet a high demand for homes in the best parts of Singapore.

PLH Prices and Restrictions

Because they are in top locations, PLH homes might cost more than BTO homes nearby.

For example, some 4-room PLH homes in places like Queenstown started at around $565,000. And in Bukit Merah, they started at $533,000.

PLH homes have rules to keep them affordable, like a 10-year Minimum Occupation Period.

These rules help keep PLH homes cheap for future buyers.

They also prevent fast selling or high renting prices. This way, more people can afford to live in great places in Singapore.

Rental and Investment Potential

The HDB rental market in Singapore is a great place for HDB flat owners.

They see good demand and get high rental yields.

Compared to other property types, the rental yield for HDB flats is strong. In the first quarter of 2024, it was between 3-4%. Some prime spots and larger flats can even earn more.

HDB Rental Market Overview

The HDB rental scene is strong, thanks to more people in Singapore, lots of expatriates, and young people preferring to rent.

This demand gives HDB flat owners a chance to make good, steady money through rentals.

Calculating Rental Yields

To figure out an HDB flat’s rental yield, investors look at many things.

These include where the flat is, its size, condition, and what the rental market is like nearby.

They also factor in costs like property taxes, maintenance fees, and any times the flat might be empty. This helps them work out the actual rental yield.

Take a well-kept 4-room HDB flat in a top area like Queenstown. It might rent for around $3,000 a month.

In a less central area, like Jurong East, the same flat could rent for about $2,500 a month.

After taking all expenses into consideration, the Queenstown flat might provide a rental yield of 4-5%.

The Jurong East flat, on the other hand, may see a 3-4% yield.

HDB Flat TypeAverage Rental Yield (Q1 2024)
2-room3.0% – 3.5%
3-room3.2% – 3.8%
4-room3.5% – 4.2%
5-room3.8% – 4.5%

Buying for Families vs Singles

The choice to buy an HDB flat varies for families and singles.

Different grants and subsidies help meet their specific needs.

It’s important for both groups to look at their finances and what they need in a home to pick the best HDB option.

Housing Grants for Families

Families can get the Enhanced CPF Housing Grant worth up to $80,000.

And, if they need a bit more help, the Step-Up CPF Housing Grant gives another $15,000.

They might also snag the Proximity Housing Grant of up to $30,000 if they want to live close to family. These perks lower the HDB flat’s total costs for families.

Housing Grants for Singles

Singles have their own set of grants. They can claim up to $40,000 via the Enhanced CPF Housing Grant.

Plus, if they choose to live near their parents, the Proximity Housing Grant can offer an extra $15,000.

These financial aids are vital for singles aiming to buy an HDB flat.

Picking between an HDB flat for a family or a single comes down to a few key things. It’s about looking closely at personal finances and figuring out what kind of home is needed.

Remember, there are different grants and subsidies for each group.


The cost of HDB flats in Singapore is key for those looking to buy.

Prices change based on flat type, location, and if it’s new or resale.

Knowing about HDB resale prices, new BTO costs, and finance options like grants and loans is important before buying.

For Prime Location Public Housing (PLH) flats, both rental potential and investment value are big things to consider.

When deciding to buy an HDB, think about your budget and what you really need. This is true for those buying alone or with a family.

This detailed guide is here to help people thinking of buying a home in Singapore. It covers everything from flat prices to how to finance your purchase.

With this info, buyers can choose wisely and find their perfect HDB home.


What is the cost of HDB flats in Singapore?

HDB flat prices in Singapore vary based on many factors.

These include the type of flat, its location, and if it’s new or resale.

For new flats, prices start from $100,000 for a small unit to over $700,000 for bigger ones, especially in central areas. Resale prices are usually higher.

The median price for a 4-room resale flat can go from $483,400 in Jurong East to $897,500 in Queenstown.

What factors affect HDB resale prices?

Several factors play into HDB resale prices.

These include its location, size, age, and lease remaining.

Also, market trends and the economy shape these prices. New flat prices, however, are kept affordable by HDB.

What are the recent BTO launch prices?

In February 2024, new BTO flat prices were as follows.

At Bedok South Bloom, 2-room Flexi and 4-room flats started at $491,000.

At Woodgrove Edge, Woodlands, prices started at $119,000 and $303,000 respectively.

Lastly, at Tanglin Halt Courtyard, Queenstown, they began at $235,000 and $565,000.

What housing grants and subsidies are available for HDB buyers?

Many grants and subsidies help with HDB purchases.

For families, there’s the Enhanced CPF Housing Grant (up to $80,000) and Step-Up CPF Housing Grant (up to $15,000).

Families buying close to each other may get the Proximity Housing Grant (up to $30,000).

Singles can also get help, including a $40,000 Enhanced CPF Housing Grant and a $15,000 Proximity Housing Grant.

What is the difference between an HDB loan and a bank loan?

HDB loans have lower interest rates and more flexibility. On the other hand, bank loans can offer larger amounts but come with stricter rules. It’s important to carefully consider which loan suits your situation and preferences better.

What is the process of buying an HDB resale flat?

Buying an HDB resale flat involves a few steps. First, check if you’re eligible and get the HDB’s green light with an HFE letter. Next, find a home you like and go through a checklist and timeline that includes viewing, price negotiation, and finalizing the deal. This whole process usually takes 8 to 12 weeks.

What is Prime Location Public Housing (PLH)?

Prime Location Public Housing (PLH) is a special kind of housing introduced by HDB. It ensures that public housing in good locations remains affordable.

PLH homes come with certain rules, like a 10-year stay requirement and price limits for selling and renting.

What is the rental and investment potential of HDB flats?

Renting out HDB flats is a good investment option.

The rental market is strong, offering good returns. Data shows rental yields were 3-4% in the first quarter of 2024, with even better rates for prime location and bigger flats.

What are the key considerations for families and singles when buying an HDB flat?

Deciding on an HDB flat depends on if you’re a family or single.

There are many grants to help.

Families can get an Enhanced CPF Housing Grant (up to $80,000) and a Step-Up Grant (up to $15,000).

Singles are entitled to a $40,000 Enhanced CPF Housing Grant and a $15,000 Proximity Housing Grant.