After two very long and trying years of ‘lockdowns’ and restrictions, we’re gradually returning to life before the COVID-19 pandemic. However, one pandemic-era buying preference seems to be here to stay – the demand for more spacious homes.
Since last year, condo and HDB flat buyers have shown a shift in preference for larger and more spacious homes. As Singaporeans continue their search for the perfect home, HDB resale prices continue to rise as individuals continue to snap up the dwindling, limited pool of 5-room and larger HDB flats on the market.
Now, even far-flung neighbourhoods like Woodlands and Pasir Ris can now boast of million-dollar resale flats. In the first three quarters of 2022, there were 277 million-dollar HDB resale flat transactions, eclipsing the 259 million-dollar HDB flat transactions seen in the whole of 2021.
Luckily, it is still possible to find relatively affordable 5-room HDB resale flats if you know where to look. Here are some affordable HDB flats in Singapore currently on sale on PropertyGuru for under $600,000.
Most Affordable HDB Flats in Singapore: 5-room Flats Under $600,000
|403 Pandan Gardens||$478,888|
|11 Marsiling Drive||$519,999|
|684D Choa Chu Kang Crescent||$539,800|
|588C Montreal Drive||$540,000|
|292A Compassvale Street||$550,000|
|605 Bedok Reservoir Road||$569,999|
|240 Yishun Ring Road||$570,000|
5-Room HDB Flat at 403 Pandan Gardens: HDB Resale Price $478,888
Built in 1978, this 1,227 sq ft unit in Jurong East will benefit greatly from the opening of the Jurong Region Line on the MRT network. It is seven minutes away from the upcoming Pandan Reservoir MRT station and 12 minutes from the future Jurong Town Hall MRT station, by foot. Both these stations are scheduled to open in 2028.
The flats are also located about half an hour’s walk or a short bus ride away from the Jurong East commercial district with its popular malls like Jem and Westgate. Those who intend to work in the Jurong Lake District will also benefit from living in the area.
Browse all HDB resale flats in Jurong East for sale on PropertyGuru.
5-Room HDB Flat at 11 Marsiling Drive: HDB Resale Price $519,999
This 1,291 sq ft corner unit was built in 1975 and is located in a point block where there are fewer units per level. This unit is suitable for families who frequent Johor Bahru often as the checkpoint is 23 minutes away, by car.
In terms of connectivity, Marsiling MRT (North-South Line (NSL)) and Woodlands MRT (NSL, Thomson-East Coast Line (TEL)) are 13 minutes away, by foot. Amenities around the area include Marsiling Mall, Causeway Point and Woodlands Town Park East. This unit is also located near amenities such as a wet market, shops and eateries.
Browse all HDB resale flats in Woodlands for sale on PropertyGuru.
5-Room HDB Flat at 684D Choa Chu Kang Crescent: HDB Resale Price $539,800
If space is a priority, you can’t go wrong with this 1,184 sq ft flat. Built in 2000, this home has been well-maintained and renovated. Each room has parquet flooring installed which gives off a sense of warmth to the rooms.
Located at Choa Chu Kang, this unit is an 11-minute walk from Yew Tee MRT station which lies on the NSL. Nearby shopping and dining options include YewTee Point, Foodfare @ Choa Chu Kang Crescent, NonyaBong the Peranakan and Broadway Coffeeshop.
5-Room HDB Flat at 588C Montreal Drive: HDB Resale Price $540,000
This 1,184 sq ft flat is a great fit for families who are in need of a big kitchen. Built in 2000, this corner unit lies on the NSL, located in a convenient area full of amenities. Sun Plaza, Sembawang Mart, FairPrice Sembawang Way and Giant Express are among the few malls and supermarkets in and around the area.
Furthermore, this unit is about eight minutes away from Sembawang MRT station, by foot.
Browse all HDB resale flats in Sembawang for sale on PropertyGuru.
5-Room HDB Flat at 292A Compassvale Street: HDB Resale Price $550,000
This 1,184 sq ft flat is located three minutes’ walk from Compassvale LRT station and nine minutes away from Sengkang MRT station on the North East Line.
Built in 2002, the property is equipped with an HDB balcony which enables residents to enjoy fresh air from the comfort of their home.
Nearby malls include Compass One and Rivervale Mall, all located a short bus ride away. The area’s major mall, Compass One, is located about 1.2km away.
Browse all HDB resale flats in Sengkang for sale on PropertyGuru.
5-Room HDB Flat at 605 Bedok Reservoir Road: HDB Resale Price $569,999
There are plenty of dining options within the area such as Bedok Reservoir Food Centre, Haji Syed restaurant, Wee’s Family Coffee Shop and many more. In terms of connectivity, Kaki Bukit (Downtown Line (DTL)) and Bedok North (DTL) MRT stations are 10 minutes away, by foot.
Telok Kurau Primary School, Towner Gardens School, and Muhammadiyah Kindergarten are among the schools nearby.
5-Room HDB Flat at 240 Yishun Ring Road: HDB Resale Price $570,000
Affordable HDB Flats in Singapore: Why Are These 5-Room HDB Flats So Reasonably Priced?
The majority of 5-room HDB flats priced under $600,000 are located in the north and west of Singapore, in neighbourhoods like Sengkang and Choa Chu Kang. These areas are considered somewhat less accessible and are much further away from the city centre, so flats there tend to command lower prices.
In addition, these affordable HDB flats in Singapore tend to be on the older side, with some built over 35 years ago. Buyers should consider whether they could outlive their flat and be aware that the property’s value might depreciate as the flat’s lease runs down.
That said, against a backdrop of rising HDB resale prices, the number of large and cheap flats is dwindling. Million-dollar resale flats are not only becoming a more common occurrence but are also now arising in neighbourhoods that have been traditionally thought of as affordable.
Thus, it is important to plan your finances to ensure you can comfortably afford your flat. If you need help financing your home or calculating what you can afford, PropertyGuru has a suite of mortgage calculators and home loan tools that you can use for free. Or reach out to one of our friendly and knowledgeable mortgage experts for tailored financial advice, all at no cost!
Not sure how much you should be paying for your resale flat? The HDB resale portal enables you to check the prices of recent resale transactions. Or you can check the median HDB resale prices for Q3 2022. Simply key in the flat type and HDB town you need information about and enter your desired timeframe.