Looking for an affordable HDB flat? Check out these towns
Eight towns, including Choa Chu Kang (pictured), Sembawang and Jurong West, reported no million-dollar transactions for five-room flats in 2025. (Photo: Albert Chua/The Edge Singapore)
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It is common to read news of HDB flats reaching ever-higher record-breaking prices. However, not all HDB flats have sold for such eye-watering prices. Our analysis of last year’s HDB sales data for three-room to five-room flats across Singapore indicates that flats in some HDB towns have yet to cross the million-dollar threshold. Additionally, there are still affordable flats in popular towns with many million-dollar flats.
Towns without million-dollar four-room and five-room flats
The number of million-dollar HDB flats has been on the rise, reaching a peak of 554 and 664 transactions for five-room and four-room flats, respectively, last year (see Chart 1).
2025 was also the first year that the number of million-dollar four-room flats exceeded that of million-dollar five-room flats. This trend looks set to continue, as 104 five-room flats and 144 four-room flats have been sold for at least $1 million so far this year.
Given the fast-rising number of million-dollar flats, many may be surprised to learn that there are a number of HDB towns where all four-room and five-room flats fetched less than $1 million last year.
Eight towns reported no million-dollar transactions for five-room flats last year (see Chart 2). Notably, most of them are in the North or East regions.
Among the eight towns, Choa Chu Kang reported the lowest maximum price of $815,000 ($616 psf). The five-room flat involved in this transaction is located at 641 Choa Chu Kang Street 64. The 1,324-sq ft flat was sold in November 2025.
The flat is near Yew Tee MRT Station, Yew Tee Square, Yew Tee Point and Yew Tee Primary School (see Map 1). However, the price of the flat could have been dampened by its remaining lease of around 72 years at the time of sale. Its shorter remaining lease could have capped its price below the million-dollar threshold.
Source: EdgeProp LandLens
Based on last year’s transactions, there are 17 towns without any million-dollar four-room flats (see Chart 3). Like five-room flats, the four-room flats in Choa Chu Kang also reported the lowest maximum price among the towns without any million-dollar four-room flats.
Last year’s highest transacted price for a four-room flat in Choa Chu Kang was $690,000 ($641 psf). The flat involved in this transaction is located at 640 Choa Chu Kang Street 64, which is a short walk from the above-mentioned five-room flat at 641 Choa Chu Kang Street 64. The four-room flat measures 1,076 sq ft and also has a lease that started in 1998.
Woodlands: The most affordable town?
Among the different HDB towns, Woodlands is one of the three towns with last year’s lowest minimum prices for all three flat types (see Table 1), indicating that the northern town might be Singapore’s most affordable HDB town for three-room to five-room flats.
Last year’s most affordable five-room flat in Woodlands fetched $433,800 ($328 psf). The low price for the 1,324-sq ft flat could be attributed to its short remaining lease of around 50 years when it was sold in November 2025.
Additionally, the flat, located at 11 Marsiling Drive, is some distance from amenities (see Map 2). Apart from Marsiling Market, the flat is not within walking distance of other amenities. Marsiling MRT Station is the nearest station, but it is almost 1 km away. Marsiling Primary School is also the only primary school within a 1 km radius.
Source: EdgeProp LandLens
Last year’s lowest price paid for a three-room flat in Woodlands was $285,000 ($407 psf). Located at 1 Marsiling Drive, the 700-sq ft flat is a stone’s throw from the five-room flat that fetched Woodlands’ lowest price last year (see Map 3). The three-room flat had a short remaining lease of approximately 48 years when it was sold in December 2025.
The lack of surrounding amenities and short remaining lease could explain the low price paid for this three-room flat.
Source: EdgeProp LandLens
Last year’s most affordable four-room flat in Woodlands is located at 616 Woodlands Avenue 4, which was sold for $318,000 ($290 psf). A reason for its low price could be because the nearest MRT station – Woodlands South – is approximately 800 m away. However, residents are still served by some nearby amenities such as 888 Plaza, Vista Point Food Centre and Woodlands Ring Primary School (see Map 4).
Additionally, the 1,098-sq ft flat had a relatively short remaining lease of approximately 72 years when it was sold in December 2025.
Source: EdgeProp LandLens
Affordable gems in popular towns
Our analysis of the price difference between last year’s highest and lowest prices for each flat type across the different HDB towns reveals that popular Queenstown is among the top three towns with the largest price gap. It is also the only town representing all three flat types (see Table 2). A large price difference could indicate the presence of affordable gems in a popular town where flats usually fetch top dollar.
Among the different flat types, four-room flats in Queenstown show the largest price gap of $970,000. Last year saw two four-room flats in Queenstown sold for more than $1.3 million. Both million-dollar flats are located along Dawson Road. The 1,044-sq ft flat at 92 Dawson Road was sold in June 2025 for $1.37 million ($1,312 psf), while the 1,023-sq ft flat at 91 Dawson Road was sold in September 2025 for $1.35 million ($1,320 psf).
The high prices could be attributed to the flats’ long remaining lease of 90 years at the time of sale. The flats are also a short walk from Queenstown Primary School and Queenstown MRT Station, as well as a short drive from the CBD and Orchard Road.
In contrast, three four-room flats in Queenstown were sold for below $500,000. Interestingly, two of these flats are located at 23B Queen’s Close (see Table 3). The flat on the seventh to ninth storeys sold for $400,000 ($418 psf) in January 2025, while the flat on the first to third storeys sold for $485,000 ($506 psf) in April 2025. Both flats measure 958 sq ft and had a short remaining lease of around 47 years when they were sold.
Both flats are within walking distance of Mei Ling Market and Food Centre, Queenstown Stadium, the Swimming Complex and Sports Centre, as well as Queenstown MRT Station.
The main difference between last year’s most expensive and most affordable four-room flats in Queenstown is the length of their remaining lease. Buyers who are keen to live in popular Queenstown may be able to do so even if they have a modest housing budget. However, they will have to compromise in terms of the flat’s age and remaining lease.
Conclusion
Despite the growing number of million-dollar HDB flats, not all towns have four-room or five-room flats that crossed this price threshold. Several HDB towns still recorded no million-dollar transactions for four-room and five-room flats last year, suggesting that affordable options remain available for buyers.
At the same time, even popular towns such as Queenstown continue to offer relatively affordable flats, although these flats tend to have shorter remaining leases. As such, buyers with a modest housing budget may still find affordable gems in popular towns if they are willing to compromise on factors such as the flat’s age and remaining lease.
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