When HDB launched the July 2025 BTO sites last week, one of the sites in great demand was Clementi. Named Clementi Emerald, the launch offered a total of 753 units classified under the Prime category, of which 420 are 4-room flats. But perhaps what was most surprising was the price range – starting from $562,000!
4-Room Flats At Nearby Clementi Crest Recently Sold For Over $1.18M
4-room flats in Clementi have been in the news following reports of sales over $1.18 million dollars at Clementi Crest, an HDB project that reached Minimum Occupation Period (MOP) in June.
The latest transaction, which happened just this month, saw a record-breaking price of $1.28 million for a 4-room flat at Blk 445B Clementi Avenue 3.
This follows a slew of 4-room sales above $1.18 million at the other block, Blk 445A Clementi Avenue 3.
Source: HDB Map Services
Consisting of 2 40-storey blocks, Clementi Crest launched in the May 2015 BTO exercise, with 4-room unit prices ranging from $478,000 to $621,000. The high prices back then did not reduce the number of applications. Over 1,858 applicants vied for the 229 4-room units.
For the lucky 229 that successfully balloted, many will have since doubled their investment, with units commanding prices over $1.18 million despite not being on the higher floors.
Why Are Prime Flats In Clementi Emerald Priced The Way They Are
With Clementi Crest demonstrating what the market rate is for new 4-room flats in Clementi today, it may initially appear that HDB’s pricing of flats in July 2025’s BTO launch is very generous. Clementi Emerald will be situated just 600 metres away from Clementi Crest and is closer to Clementi MRT and Clementi Mall. However, 4-room flats in Clementi Emerald are modestly priced between $562,000 and $780,000 before grants.
This is in line with the government’s goal of ensuring that all HDB BTO flats remain affordable despite being in choice locations, allowing a wider range of Singaporeans to be able to afford them.
Read Also: Standard, Plus & Prime Flats: Guide To Understanding The New Framework For HDB Flats
Clementi Emerald, like all Prime BTO flats, receive the most market subsidies (though the exact amount isn’t made public). Like other Prime BTO flats, they are also subject to tighter resale and rental conditions, to ensure that buyers purchase such flats to live in them, not to sell them off as soon as the MOP is over.
#1 Clementi Emerald Flat Owners Have A 10-Year MOP
Unlike other flat owners in Clementi, those who successfully ballot for a flat in Clementi Emerald will find themselves committing to a 10-year Minimum Occupation Period, or MOP. This means that they must physically occupy the flat for at least 10 years, compared to most other flat owners, who only need to physically occupy their flat for at least 5 years.
During the MOP, they will not be allowed to sell their flat or buy another private property. Since the MOP only counts if they are physically occupying the flat, that means if at any point in time the owners live overseas during that period, that will not count to the MOP.
The opportunity cost of not being able to sell the flat earlier or buy another private property during this time is factored into the lower cost of the Prime flat.
Read Also: Why You Should Not Sell Your HDB Flat Immediately After Your MOP
#2 Clementi Emerald Flat Owners Can Only Sell To BTO Eligible Buyers
Should Clementi Emerald flat owners wish to sell after the completion of their 10-year MOP, they will only be able to sell to buyers who meet the BTO eligibility requirements at the time of purchase. This is the same for all Prime flat owners.
Based on current requirements, this will include earning within the income ceiling, meeting the citizenship requirements and any other limitations (such as the wait out period for former private property owners).
As you can imagine, this severely limits the type of buyers a Prime flat owner can sell to, and having to meet the income ceiling will limit the price that they can sell at. The opportunity cost of possible having to sell the flat to a smaller pool of buyers at a reduced cost is factored into the lower cost of the Prime flat.
#3 Subsidy Recovery For Clementi Emerald Is The Highest At 12%
Prime flat owners will be subject to a subsidy recovery upon resale. This means they will be required to pay HDB a percentage of the resale or valuation price (whichever is higher) upon selling the flat. For Clementi Emerald, it will be 12%.
This means that if a flat owner sells their unit for $1.5 million after the 10 year MOP, they will need to pay HDB 12% of that amount, or $180,000.
This is the highest subsidy recovery for any Prime project. The other 3 Prime launches in the July 2025 BTO exercise are at 11%. Previous Prime projects in the past two launches were at 9%.
#4 Clementi Emerald Flat Owners Cannot Rent Out The Whole Flat, Even After MOP
Unlike several flat owners at Clementi Crest and nearby Clementi Ridges, which are currently renting out their whole flat for over $4,000 a month after MOP, Prime flat owners, such as those at Clementi Emerald, will never be able to rent out the whole flat, even after MOP.
This limitation from earning rental income is therefore factored into the lower cost of the Prime flat.
The Lower Price Is A Feature, Not A Bug
There are currently 1850 applicants vying for the 420 4-room units available in Clementi Emerald. While 420 of them may seem to have struck the lottery by getting a BTO flat at almost half the cost of a nearby resale flat, it’s important to recognise that the lower cost of the Prime flat is intentional.
