It’s no coincidence that many of the wealthiest people in the world are involved in real estate in one way or another.
You won’t be making millions like them moguls, but you could always start small with your HDB flat in Singapore. We compared the median prices of HDB resale flats at the end of 2017 against the prices at the end of 2018, and tabulated the results:
Districts in Singapore with the biggest increase in HDB resale prices
We’ve got to say, with the myriad of amenities and around-the-clock food options in Geylang, it’s a pretty lit district – and not with red lights – to live in.
Plus, with redevelopment works in the pipeline and the newly established business hub nearby in Paya Lebar, it’s highly likely that demand for homes in the Geylang will be on the rise.
Prices in HDB resale flats, regardless of size, saw an overall increase. Most notably, the median price of 5-room HDB resale flats in the district increased by almost $100,000. In just a year, mind you!
2. Kallang/ Whampoa
Nearby, HDB flats in Kallang and Whampoa rose in value as well.
The prices of resale HDB flats in Kallang/ Whampoa are similar to that of BTO flats as well – for instance, 4-room BTO flats in the estate were priced $562,000 in the May 2019 BTO exercise.
This area is also close to the upcoming Bidadari estate, where homes are predicted to have markedly strong capital appreciation.
In recent years, Punggol has been developed into Singapore’s first Eco-Town, with the 4.2km-long Punggol Waterway meandering through the town and eco-friendly housing initiatives.
Despite the greater supply of HDB flats as more BTO developments take root, median resale prices are still on the rise, with that of a 5-room HDB flat increasing by $56,388 within the past year.
Serangoon may already be a mature housing estate, enlivened by NEX, new transport links and more, but home prices for bigger-sized flats aren’t slowing down.
That said, the median prices for a 3 and 4-room HDB resale flat in this district dropped by $12,243 and $19,204 respectively.
West side represent!
A 4-room HDB flat in Clementi can be sold for an average of $54,199 higher as compared to just one year ago – more than a 10% increase.
Clementi is also home to prestigious schools like Nan Hua Primary School, Nan Hua High School, NUS High School, Singapore Polytechnic, NUS and SUSS, making it an ideal option for families.
Fun fact: A 5-room HDB flat in Clementi Towers, the first HDB project in Singapore to be integrated with a shopping mall and bus interchange, sold for $1,005,000, making Clementi the furthest estate from the CBD to join the million dollar club!
6. Ang Mo Kio
In the heartlands of Ang Mo Kio lies more than 50,000 HDB flats.
Of these, 5-room flats were the most profitable when reselling, with a median increase of $53,050 in price.
Can HDB flats make you money?
Even amidst the whole ton of debate about whether HDB flats could possibly be a money-making asset – especially after the HDB 99-year leasehold issue was brought into the spotlight – prices also depend on the amenities in the neighborhood, supply of newly MOP-ed flats put up for sale, and more.
Now that you’re armed with price patterns of HDB resale flats in each district, time to start your HDB flat hunting journey (or think about selling if the time is right)!