The 4-room flat remains the most ubiquitous housing type in Singapore – and with prices soaring in 2022, it may be wiser to settle for a more modest unit. And while you might think that where you’ll find the cheapest 5-room HDB flats is also where you’ll find the cheapest 4-room flats, well, you might be in for a surprise.
But before we get to showing you the cheapest estates, here’s a look at prices between the first half of 2021 and 2022, as well as their respective changes.
What’s worth highlighting here though is certain estates that have registered higher average price increases since 2021. The biggest price change here is Bukit Batok, where prices have increased 20.4 per cent for 4-room flats (it was a similar percentage for 5-room flats too). There could be further reasons, but the most obvious reason would be due to the number of units reaching MOP in 2022 – Bukit Batok has 4 in total, Bukit Gombak Vista, Skyline ll @ Bukit Batok, SkyPeak @ Bukit Batok, and West Crest @ Bukit Batok.
Next up is Kallang/Whampoa, where the percentage change at 20.3 per cent is just a hair under Bukit Batok. The actual average quantum change is the biggest though, at $150,430. That increase means it now overtakes places like Clementi, Toa Payoh, and Bukit Merah, to rank the 3rd most expensive HDB estate in Singapore where 4-room flats are concerned.
The last notable price increase goes to Ang Mo Kio, where prices of 4-room HDB flats have risen 18.6 per cent, or an average of $109,172. That’s quite a hefty increase as well, and as a result, pushes Ang Mo Kio into the top 10 most expensive HDB estates for 4-room flats in Singapore.
Okay, enough about notable price changes. For those who don’t need a bigger 5-room or executive apartment, here’s a list of the cheapest 4-room HDB estates by average quantum:
1. Woodlands
Average price: $454,444
Price change from 2021: Up 12.2% from $398,809
About the town
Woodlands continues to be the most affordable neighbourhood in Singapore this year; this appears to be true for both 4 and well as 5-room units. Prices are gaining momentum in Woodlands, however.
The price increase may also have been influenced by the 2 HDB estates that have MOP-ed in 2022, Woodlands Glen (just recently) and Woodlands Pasture l and ll. You should know that these are not small developments, with 888 and 1,018 units respectively.
From word on the ground, realtors have told us that rentability has improved over the past year. Woodlands provides convenient access into Malaysia – and with the unwinding of pandemic measures, more Malaysian workers are making their way back to resume work. Realtors said this may justify price increases, in the eyes of some owners.
The main force driving up prices, however, is the development of Woodlands as the regional centre of the north. The upcoming Woodlands North Coast will be part of an agri-tech hub, introducing grade A offices, universities, and the amenities to support this (read: shops and restaurants). To date, the plans involve around 700,000 sqm. of commercial space, expected to bring in around 100,000 new jobs. Coupled with the access to Malaysia, this can turn Woodlands into a rental hotspot.
Mind you, these changes are not going to happen overnight; so this is all best for buyers who are in it for the long haul. In the meantime, Woodlands still is the first place to look if you want affordability.
It is interesting to note though, that if you are looking for newer flats in the 5 to 10 year old range, 4-room HDB flats in Woodlands are on average more expensive than Yishun. Prices here are on average $510,373 as compared to $499,502 in Yishun.
2. Yishun
Average price: $462,268
Price change from 2021: Up 10.9% from $412,091
Like Jurong West below, Yishun surprised the market by beating out Queenstown and Bukit Merah in demand for 4-room BTO flats this year. The key reason is affordability. Realtors noted that BTO 4-room units here, after subsidies, could fall under $330,000 for some buyers.
The main area of interest in Yishun, for the foreseeable future, will be Chong Pang. In 2027, this area will see the development of Chill @ Chong Pang. This is an integrated hub that will have public pools, a new hawker centre, and gyms. This is on the site of the current Chong Pang Community Club (Yishun Ring Road).
Note that the existing Chong Pang Market will be gone by around 2028, and the plan is for the food stalls here to have moved to Chill @ Chong Pang.
That said, let’s address the elephant in the room. Yishun, particularly Yishun North, has a bit of a reputation for crime (at least, in 2018). We can’t comment on how accurate the statistics are, or their reliability – but Yishun is the only part of Singapore that has made it into Stranger Things.
Does this account for the lower prices of Yishun homes? We don’t know, and it’s likely no one does – there’s no accurate way to measure this. Realtors have also said that most buyers are not averse to Yishun, and the reputation – in their experience – is more of a tongue-in-cheek joke that few take seriously.
3. Jurong West
Average price: $474,162
Price change from 2021: Up 11.1% from $421,628
Jurong West is quite underrated as a rental area, for owners who are considering such a move. This area will attract tenants who work in the developing Jurong Innovation District – and the existing industrial park provides a solid catchment area for tenants.
For homeowners, a realtor we spoke to – who specialised in the Jurong area – said that Jurong West has recently been seen as an alternative to adjoining Tengah. He noted that Tengah’s BTO units would take time to build; and that buyers with more urgent needs have turned to resale units in Jurong East and Jurong West.
It may be surprising to some to see how closely the average 4-room flats here are priced compared to those at Jurong East. A big bulk is due to the fact that 4-room flats in the 5 – 10 year age range at Jurong West are at an average of $559,585, as compared to $534,529 at Jurong East.
4. Jurong East
Average price: $474,559
Price change from 2021: Up 7.1% from $440,739
Jurong East continues to be a favourite, for those who want to tap into the development of Jurong Lake. This area will be Singapore’s “second CBD”, and it’s currently already a retail powerhouse (there’s even IKEA’s first small-format stall in South East Asia in Jem). There are further plans to change the area too, with JCube making way to become a mixed-use residential development.
URA has also mentioned that, by 2035, there will be four MRT lines serving this district – by that point, there will be direct train links to Changi Airport, as well as the traditional CBD area.
Realtors mentioned that, the slew of retail amenities aside, the main appeal of Jurong East is its relative proximity to Dover (where Singapore Poly is located), and Clementi (which provides good access to NUS).
The 4-room flats in Jurong East provide an affordable alternative to Clementi, where in areas like Clementi West, even a 4-room unit can reach around $580,000 right now.
What’s interesting here to observe though is that the average prices of flats in the age range of 21 – 30 years are higher than newer flats of age 11 – 20 years. This is probably due to the location, as some of the older flats are located closer to the MRT station.
5. Bukit Panjang
Average price: $475,491
Price change from 2021: Up 7.2% from $441,089
Fans of Bukit Panjang often assert that, if you like green space and “breathing room”, this town is every bit as good as adjoining Bukit Timah. This is especially true of the Dairy Farm area, home to Singapore’s only remaining goat farm. In fact, Dairy Farm Nature Park was specifically developed as a counterpart to Bukit Timah Nature Reserve; and it has extensive walking and biking trails that rival its more famous counterpart.
The low but ever-rising prices reflect a town seeing significant improvements. Back in the early 2010s, Bukit Panjang had accessibility issues, which made it unpopular. But since then, new MRT stations on the Downtown Line, like Bukit Panjang, Cashew, and Hillview MRT, have fixed most of these issues.
Another lesser-known fact is that the road system, along with the bus services, has been significantly improved over the past decade. Buyers may want to look for resale flats where they can access bus 190 – this provides a direct route to Orchard Road, in around six stops.
Bukit Panjang has been derided as the “poor man’s Bukit Timah” in the past; but over the past decade, it has grown out of its famous neighbour’s shadow.
The 4-room flat prices in the 5 – 10 year age range is actually averagely priced very similarly to Woodlands (more on Woodlands being high than Bukit Panjang being low). But it’s the older flats here that are priced higher, thereby contributing to the overall position in the table.
For more information on resale flats and home ownership, follow us on Stacked. We’ll also provide you with in-depth reviews of new and resale properties alike, and the latest news on the Singapore property market.
Ryan is an old school print journalist gone digital. He’s lived in almost every type of housing in Singapore, from flats to landed homes. Over the past 18 years, he’s been a content developer for companies large and small, a co-founder in an education business, and sometimes a voice on the radio. He also spends too much time and money on painting little plastic soldiers.
My name is Sean and our goal is to help home buyers and sellers in Singapore make the best decision for themselves. Have a question in mind? Send us an email at: hello@stackedhomes.com
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