For anyone looking to buy a resale flat now, prices may seem unattainably high. HDB resale prices are currently at their record peak of 155.7 on the HDB Resale Price Index (RPI). A record number of over 200 resale flats also transacted for $1 million and above in 2021, more than triple that of the 82 units in 2020.
While the overall resale HDB market has increased 12.3%, there are still price differences for the different estates. Knowing where the cheapest HDB estates may mean significant savings and better chances of scoring a flat within your budget. Coupled with the potential slowing down of the market after the 16 December 2021 property cooling measures, HDB resale buyers may have better luck in their property search in 2022.
With these in mind, let us look at the 5 cheapest HDB estates in Singapore for 2022.
Read Also: HDB Price Guide: Most Expensive HDB Estates In 2021
| Towns | 3-Room | 4-Room | 5-Room | Executive |
| Ang Mo Kio | $340,000 | $480,000 | $655,000 | * |
| Bedok | $330,000 | $455,900 | $645,000 | * |
| Bishan | * | $600,000 | $804,000 | * |
| Bukit Batok | $335,000 | $468,000 | $634,800 | $715,000 |
| Bukit Merah | $371,800 | $766,500 | $828,000 | – |
| Bukit Panjang | $360,000 | $460,000 | $555,000 | $718,000 |
| Bukit Timah | * | * | * | * |
| Central | $465,000 | $972,500 | * | – |
| Choa Chu Kang | $380,000 | $472,500 | $552,500 | $647,500 |
| Clementi | $370,500 | $728,000 | $656,500 | * |
| Geylang | $293,900 | $630,000 | $720,000 | * |
| Hougang | $340,000 | $471,000 | $585,000 | $780,000 |
| Jurong East | $346,000 | $450,000 | $640,000 | * |
| Jurong West | $333,900 | $457,000 | $530,000 | $631,000 |
| Kallang/Whampoa | $377,500 | $690,000 | $804,000 | * |
| Marine Parade | $384,000 | * | * | – |
| Pasir Ris | * | $480,000 | $580,000 | $720,000 |
| Punggol | $409,000 | $515,500 | $621,900 | * |
| Queenstown | $360,000 | $779,000 | $935,000 | – |
| Sembawang | * | $439,000 | $501,500 | $568,000 |
| Sengkang | $398,000 | $492,000 | $540,500 | $638,000 |
| Serangoon | $360,000 | $491,900 | $626,800 | $800,000 |
| Tampines | $370,000 | $488,000 | $589,000 | $730,000 |
| Toa Payoh | $309,000 | $630,900 | $894,900 | * |
| Woodlands | $335,000 | $430,000 | $505,000 | $701,000 |
| Yishun | $345,000 | $450,000 | $580,000 | $690,000 |
Source: HDB Resale Statistics. 4Q2021
* median prices are not shown as there are less than 20 resale transactions in the quarter for the particular town and flat type.
– indicates no resale transactions for the quarter
Top 5 Cheapest HDB Estates For 3-Room Resale Flats
| # | Town | 3-Room |
| 1 | Geylang | $293,900 |
| 2 | Toa Payoh | $309,000 |
| 3 | Bedok | $330,000 |
| 4 | Jurong West | $333,900 |
| 5 | Bukit Batok | $335,000 |
Bishan, Bukit Timah, Pasir Ris and Sembawang were excluded due to insufficient resale transaction data.
Potential buyers of BTO launches in Geylang and Toa Payoh may be surprised to know that these mature estates actually have the cheapest 3-room flats with the median price of $293,900 and $309,000 respectively.
Geylang, Toa Payoh and Bedok are all mature estates that have been developed for more than 20 years. This means that many of these flats tend to be older and command a lower price despite their desirable location and proximity to established amenities.
Jurong West and Bukit Batok round up the rest of the cheapest estates. These are non-mature estates that are also close to the new town of Tengah.
In terms of price difference from the most expensive estates, the top 5 most expensive estates hover around the $400,000 range which means a savings of $100,000 by choosing one of these cheapest estates.
Top 5 Cheapest HDB Estates For 4-Room Resale Flats
| # | Town | 4-Room |
| 1 | Woodlands | $430,000 |
| 2 | Sembawang | $439,000 |
| 3 | Yishun | $450,000 |
| 4 | Jurong East | $450,000 |
| 5 | Bedok | $455,900 |
Bukit Timah and Marine Parade were excluded due to insufficient resale transaction data.
Once we move to 4-room flats, Bedok is the only mature estate that makes the list of the top 5 cheapest estates. The rest are all non-mature estates: Woodlands, Sembawang, Yishun, Jurong East.
We also start to see some stark differences. The most expensive estate for 4-room flats is Central which has a median price of $972,500 which is more than double that all the 5 cheapest estates. The next most expensive estates (Queenstown, Bukit Merah and Clementi) range around $750,000.
The price differential between the cheapest and the most expensive estates is around $300,000 (excluding Central) and is an increase from 2021 when the differential was closer to $200,000.
Read Also: HDB Price Guide: 5 Cheapest HDB Estates For 2021
Top 5 Cheapest HDB Estates For 5-Room Resale Flats
| # | Town | 4-Room |
| 1 | Sembawang | $501,500 |
| 2 | Woodlands | $505,000 |
| 3 | Jurong West | $530,000 |
| 4 | Sengkang | $540,500 |
| 5 | Choa Chu Kang | $552,500 |
Bukit Timah, Central and Marine Parade were excluded due to insufficient resale transaction data.
This year, Sembawang, Woodlands, Jurong West, Sengkang and Choa Chu Kang are again the cheapest estates for 5-room resale flats.
The price differential between the most expensive and cheapest estates for 5-room resale HDB flats remains about $300,000. The most expensive estates ranged around $800,000, with the most expensive estate for 5-room resale flats, Queenstown having a median price of $935,000.
Top 5 Cheapest HDB Estates For Executive Resale Flats
| # | Town | 4-Room |
| 1 | Sembawang | $568,000 |
| 2 | Jurong West | $631,000 |
| 3 | Sengkang | $638,000 |
| 4 | Choa Chu Kang | $647,500 |
| 5 | Yishun | $690,000 |
Ang Mo Kio, Bedok, Bishan, Bukit Timah, Bukit Merah, Central, Clementi, Geylang, Jurong East, Kallang/ Whampoa, Marine Parade, Punggol, Queenstown and Toa Payoh were excluded due to insufficient resale transaction data.
This is a repeat of last year’s list, albeit in a different order. Sembawang, Jurong West, Sengkang and Choa Chu Kang form the cheapest estates for executive flats, along with Yishun.
The price difference between the most expensive and cheapest estates for executive flats is less than $250,000. The most expensive estates ranged from $800,000 to $718,000.
4-Room Flat Sizes Have The Greatest Price Difference
This year, the price differential between the cheapest and most expensive estates has increased for 4-room flats specifically, from around $200,000 to $300,000. This was driven mainly by the dramatic price increase for the most expensive estates for 4-room flats. The median price for 4-room flats in Central are more than double the median prices for 4-room flats in all 5 cheapest estates.
Other flat sizes, such as 3-room and 5-room, have maintained a similar price difference despite their overall price increase. For example, last year’s cheapest estates for 5-room flats were priced all below $500,000 but this year’s median prices are all above $500,000. However, the difference between the cheapest and most expensive estates for 5-room flats still remains around $300,000.
Bedok stands out as a mature estate that appears as the cheapest estate for both 3-room and 4-room flats. Geylang and Toa Payoh’s affordability only extends to the 3-room flat type. In fact, Toa Payoh is on the most expensive list for 5-room resale flats.
Read Also: 10 Housing Estates That Have HDB Flats More Than $1 Million
Cover image by Moo Kar Ming, DollarsAndSense
