Singapore HDB resale price guide
Singapore's latest 12-month HDB resale median is $630,000, but that figure is only a starting point. A useful price check moves from estate to street, then compares the same flat type, a similar floor area, storey range and lease profile.
Data is for research and comparison only.The national median is a reference, not a valuation
Across the latest 12 months in the current data, the national HDB resale median is $630,000 and the median price per square foot is $604 psf. Those numbers answer a broad question: what did a typical resale flat cost across Singapore? They do not tell you what one 4-room flat in Bishan, Tampines or Queenstown should sell for.
The national figure blends old and new towns, different flat types, lease balances, floor areas and storey ranges. A smaller flat in a central location can carry a higher PSF while selling for less in total than a larger suburban flat. Both transactions can be reasonable. Comparing either one directly with the national median skips the details that produced the price.
Use the national median to spot the direction of the wider market and to understand the rough price level. Then leave it behind. Buyers and sellers need a tighter comparison set before discussing an offer, valuation expectation or cash-over-valuation risk.
Move from estate to street before judging the unit
The estate page is the first useful local comparison. It shows how much activity exists, the recent median, the flat-type mix and which streets carry the deepest evidence. That is enough to tell whether the asking price sits in a generally expensive or affordable town, but an estate can still contain several distinct markets.
Street data narrows the location. Flats on the same street are more likely to share transport access, neighbourhood shops, school proximity and a similar buyer pool. Even then, avoid treating the street median as one fixed price. A street with older 3-room blocks and newer 5-room blocks can produce a median that describes neither group particularly well.
When a street has only a handful of recent transactions, widen the view carefully. Check the estate, nearby streets and earlier sales of the same flat type. Thin evidence is a reason to use a wider range, not a reason to pretend one old transaction settles the question.
Flat type and floor area define the comparison set
Compare 4-room flats with 4-room flats whenever the sample allows it. The same rule applies to 3-room, 5-room and executive units. Flat type affects layout, buyer demand, family suitability and total price. Mixing flat types may be useful for understanding an estate, but it weakens a unit-level price check.
Floor area adds another filter. Two flats carrying the same HDB flat-type label can differ in size because of model, age and layout. A buyer who compares only the total price may conclude that the larger unit is expensive when its PSF is actually lower. A compact unit can look affordable in dollars while carrying a sizeable size-adjusted premium.
Use a reasonable area band rather than searching for an exact square-metre match. The goal is to compare units that compete for the same buyer, not to find a mathematical twin that may not exist. If the closest matches are 90 to 95 square metres, a 92-square-metre subject flat belongs in that group.
Read total price and PSF together
Total price matters because it determines the loan, cash, CPF use, stamp duty and monthly repayment. PSF matters because it helps compare different floor areas. Neither number can carry the whole analysis. A fair-looking PSF does not make the purchase affordable, and a manageable total price does not prove the unit is good value.
The contrast between current estate medians makes this clear. In the latest 12-month view, Bishan is around $840,444 at $747 psf, Queenstown is around $838,000 at $965 psf, and Tampines is around $709,444 at $621 psf. Those are estate-level signals, not interchangeable unit prices.
Queenstown can show a high PSF because many flats are smaller and centrally located. Tampines has a different mix of flat sizes, ages and neighbourhoods. Bishan has its own school, transport and scarcity story. The figures become useful when they send you back to the relevant street and flat type, not when they are arranged as a league table.
Storey range and remaining lease can move the range
Higher-floor flats often command more, but there is no universal premium for each floor. View, afternoon sun, lift access, road noise and the surrounding blocks all affect what buyers will pay. Compare the same storey band first. If that sample is too small, check the bands immediately above and below and explain the adjustment.
Remaining lease affects financing, CPF usage, future buyer demand and the period over which the home can be held. Two similar flats on the same street can deserve different prices when one block is materially newer. Lease should be read alongside transaction evidence, not added as a vague discount after the rest of the work is done.
Renovation belongs later in the process. A well-finished flat may save the buyer time and cash, but renovation is personal and depreciates. Separate the location and property value from the amount you are willing to pay for the current owner's choices. That keeps a beautiful viewing from rewriting the market evidence.
Recent sales matter more, but history still helps
For an active street, begin with the latest 12 months. Recent transactions are closer to today's interest rates, grants, supply and buyer sentiment. Check several months rather than anchoring to the latest record. One unusual sale may reflect a rare high floor, an exceptional renovation or a buyer with a specific reason to pay more.
Longer history shows whether the recent range is stable, rising or unusually volatile. It also reveals how often the street trades. A median based on dozens of comparable sales deserves more confidence than a median built from two different flat types. Older transactions should carry less weight in the final range, but they still explain the path that brought prices here.
Transaction month is not the same as completion or move-in timing, and public records do not describe every detail of the flat. Treat a recent sale as evidence, then ask what was different. The data gives you a disciplined opening position. Viewing notes, official documents and professional advice complete the picture.
An asking-price premium needs a visible reason
Suppose the closest comparable sales cluster around $650,000 and the asking price is $710,000. The $60,000 gap is the question. A higher floor, stronger lease, larger area, rare layout or extensive renovation may support part of it. The seller should be able to explain the premium in terms a buyer can verify.
Do the same exercise when the asking price sits below recent evidence. A low number may reflect condition, ethnic quota constraints, extension-of-stay terms, facing, noise or a fast sale. Cheap compared with the median is not automatically a bargain. Find the reason before treating the discount as value.
I prefer to write down a range before the viewing. Use the lower end for weaker condition or less desirable attributes, the middle for a typical comparable unit, and the upper end for qualities you would personally pay for. Once you have seen the flat, adjust the range and record why. This is less precise than a valuation report, but far more useful than negotiating from the asking price alone.
A practical HDB resale price check
Open the HDB estate page and note the latest median, activity level and flat-type mix. Move to the street page, select the same flat type and look for a similar floor-area band. Compare total price and PSF, then review storey range, lease commencement and the timing of the closest sales.
Build a small set of comparables. Three to six relevant transactions usually tell you more than fifty loosely related ones. Record the sale month, block, flat type, area, storey band, price and PSF. Remove obvious mismatches. If the remaining sample is thin, widen one filter at a time so you know what changed.
Finish with the money. Test the proposed price in the affordability, stamp duty and purchase-timeline tools, then leave room for legal fees, renovation and moving costs. A price can match recent transactions and still be wrong for your finances. The best decision works in both places: the market evidence and your own budget.
Most active HDB resale estates
Start with estates where the resale evidence is deepest.
Quick answers
Short answers based on the current data view.
What is the best first number for an HDB resale price check?
Use the latest street median for the same flat type when enough comparable sales exist. Fall back to the estate and nearby streets when the street sample is thin.
Should I use median price or average price?
Median price is usually the cleaner starting point because one unusually high or low sale can pull the average. Check the individual transactions behind either figure.
How many comparable HDB sales do I need?
There is no fixed minimum, but three to six closely matched recent sales are usually more useful than a large group that mixes flat types, sizes and lease profiles.
Can this guide value one flat exactly?
No. It helps build a transaction-backed range. Condition, lease, floor, facing, renovation, restrictions and negotiation still affect the final price.
Why can two flats on the same street sell for different prices?
Flat type, floor area, storey, remaining lease, condition, facing, layout and sale timing can all produce a meaningful difference.