The most affordable areas to buy a 5-room resale HDB near the MRT
By EdgeProp Singapore
/ EdgeProp Singapore |
After living in your first HDB flat that you bought directly during a Build-To-Order (BTO) exercise, you and your spouse have decided that it’s time for a change. Perhaps even to upgrade to a bigger home to cater to your growing family.
For many, resale HDB flats is an attractive options since they are now able to pick a location they like and are no longer subject to waiting time or a time constraint. When shopping for a resale flat, proximity to an MRT station tends to be an important consideration for Singaporeans, as many do not drive.
In this article, we round up the most affordable resale HDB 5-room flats that are located within 500m walking distance from the nearest MRT station. To derive the figures, we looked at resale transactions taking place from between January 2017 and April 2018.
These 5-room flats are value-for-money buys at below the $400,000 threshold, compared to the average resale price of $533,600 for 5-room resale HDB flats island-wide. Here’s where they are located:
1) Sembawang
A former rubber estate, Sembawang is now home to an estimated 72,500 HDB residents, according to statistics by the HDB. Currently, Sembawang Town is supported by Sembawang MRT station, and transportation links will be furthered enhanced with the upcoming Canberra MRT station, slated for completion by 2019.
The town is also served by shopping centres such as Sun Plaza and Sembawang Mart, as well as an upcoming New Generation Neighbourhood Centre called Canberra Plaza.
Based on our analysis, we found that Sembawang comprises the most affordable resale HDB 5-room flats located near the MRT. For instance, 5-room flats in Blk 424 Canberra Road (477m from Sembawang MRT station) transacted at just $356,000 on average. This is almost on-par with a 3-room flat in Queenstown – noted as one of the most expensive HDB estates.
Meanwhile, 5-room flats in Blk 475 Canberra Road (477m from Sembawang MRT station) and Blk 328 Sembawang Crescent (404m from Sembawang MRT station) transacted respectively at an average of $360,000 and $362,000.
2) Woodlands
This northern town buzzes with activity, with the Woodlands Civic Centre serving as a one-stop spot for the administrative needs of residents in vicinity. It is also host to the Woodlands Regional Library, one of the largest neighbourhood libraries in Singapore.
Other notable developments in the area include Causeway Point Shopping Centre, Republic Polytechnic, Innova Junior College, and the Singapore Sports School. Based on our analysis, Woodlands also houses some of the most affordable 5-room resale HDB flats on the island.
Between January 2017 and April 2018, 5-room resale flats at Blk 410 Woodlands Street 41 (437m from Marsiling MRT station) transacted at an average of $370,000, compared to the island-wide average of $533,600.
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3) Choa Chu Kang
Choa Chu Kang town comprises seven neighbourhoods, including Keat Hong, Yew Tee, and Teck Whye. Today, the town has an estimated HDB resident population of 167,900.
For these residents, Choa Chu Kang Park is a favourite spot during the weekends, where they can amble through the remnants of old fruit tree plantations and get in touch with nature. The park also comes with a miniature skating park and a wide array of fitness stations.
Thankfully, it doesn’t cost a bomb to live in this serene environment. Based on our analysis, 5-room resale flats at Blk 508 Choa Chu Kang Street 51 (472m from Choa Chu Kang MRT station) transacted at an average of $373,000.
4) Bukit Batok
Image source: HDB
The major development of Bukit Batok into a satellite HDB town began in the 1980s. It has since developed into a self-sufficient town served by various shopping centres, clubhouses, stadium and an industrial park, making it a cohesive living environment for work and for play.
A standout feature of Bukit Batok is the many parks within the neighbourhood, which includes Bukit Batok Town Park (often considered as part of Bukit Gombak) and the Bukit Batok Nature Park.
Fancy being surrounded by greenery? Based on our analysis, the average resale price of a 5-room flat at Blk 303 Bukit Batok Street 31 (459m from Bukit Gombak MRT station) was at $375,000 between January 2017 and April 2018.
Alternatively, if living in a central location is your priority, find out how much a resale flat costs in these most expensive HDB estates!
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