10 years ago in 2014, I wrote about how much does a couple need to earn in order to afford a $300,000 HDB flat. The post went viral at that time because HDB prices were rising very quickly which made many young people worried about the affordability of owning their own home.
Fast forward to 10 years later today, I did a quick check and realised that HDB BTO prices are still kept quite affordable at an average price of $300K to $400K for 4 room flats unless you’re getting a flat in the central region of Singapore which will be priced higher at close to $600K.
However, not everyone will get a chance to get BTO flats. I have friends who have tried many times year after year and still couldn’t get their BTO flat. In the end, they had to turn to the resale market to buy their flat which cost much higher.
When we see headlines such as “Number of million-dollar HDB flats resold hit all-time high in June” & “Five-room resale flat in Bukit Merah goes for record S$1.59 million”, it makes us more anxious to know whether we really can afford to buy a flat of our own now?
How much do resale HDB cost now?
HDB has a website to show all the transacted resale prices of all areas in Singapore. You can access the website here.
If you’re looking at flats in the central area, the prices are all above $1.2M for a 4 room HDB flat with about 85 years remaining lease as shown below:
If you look at less central areas such as woodlands, the resale price of a 4 room HDB flat are in the range of about $660,000 with about 94 years remaining lease as shown below:
Even for areas in the west such as Jurong West, it