Splurge On An HDB Resale Flat
Many Singaporeans have expressed concern in recent years about the rising cost of living on our little red dot.
And property prices is one of the hot topics that worry locals, with many lamenting the fact that property prices are too high.
But it seems the worst is yet to come, with experts suggesting Singapore’s property prices are set to double by 2030.
If you’ve already set your heart on getting a resale flat over a Build-To-Order unit, and have the incurable urge (and wealth) to splurge on your new house, you can consider buying a resale flat at these specific areas in Singapore — here are the 10 most expensive areas to get your dose of resale flats.
The areas are referenced by the MRT Stations that serve the area. Therefore, Redhill refers to the flats near Redhill station, and Bras Basah refers to flats near Bras Basah station. And so on.
(Disclaimer:All figures are arrived from Dr. Wealth’s compilation, which is based on statistics from Squarefoot.com.sg)
Redhill claims the dubious honour of being the cheapest spot on the list of most expensive areas for HDB resale flats with a comparatively humble price of $625 per square foot.
Redhill will appeal to the heartlander in you, and shopping for fresh produce and groceries is a cinch thanks to the nearby Redhill Market.
Ikea Alexandra is also part of the neighbourhood, for anyone looking to spruce up their homes with chic furniture, or simply to enjoy their new and improved chicken wings.
9. Bras Basah
Over at Bras Basah, HDB resale flats are estimated to fetch $669 per square foot.
For those of you who have an innate inclination towards the artistic side of life, living near the National Museum and the Singapore Art Museum might be a dream come true.
If you’ve had enough of the hundreds of identical malls that flood Singapore, you’d rest well knowing the quaint Bras Basah Complex, with its unique bookstores, is just around the corner.
8. Tiong Bahru
Tiong Bahru literally means “New Cemetery” — although that doesn’t seem like an apt name for one of Singapore’s oldest housing estates.
HDB resale flats here go for $670 per square foot.
The hipster neighbourhood, which is commonly known for its cafés and bookstores, also houses some gorgeous Instagram-worthy murals.
Children will have their fair share of fun at this cool “train” adventure playground.
But you’d be mistaken if you think that Tiong Bahru is simply a hipster paradise. The quaint neighbourhood actually boasts rich history and culture.
Read a TheSmartLocal article that shows how Tiong Bahru is more than just a hipster neighbourhood.
Bugis is right beside Bras Basah, which explains why the value of HDB resale flats are similar in both areas.
Compared with Bras Basah, Bugis’ flats are at a slightly higher $685 per square foot.
Bugis is quite simply a shopping haven, with Bugis Street perfect for budget shopping and cool clothes alike.
But if the heat and crowd gets overwhelming you can seek respite at malls Bugis+ or Bugis Junction.
If that still isn’t enough to quell your insatiable need to improve your wardrobe, you can head over to Haji Lane for trendy clothes and accessories galore, and next-door Arab Street for exotic cuisine that will cure your ennui over kopitiam food.
6. Telok Ayer
Telok Ayer is a buzzing neighbourhood, with the flats here estimated to cost about $693 per square foot.
Located in the middle of the Central Business District (CBD), it’s no wonder that upmarket eateries are aplenty.
But that’s not all there is to Telok Ayer.
According to the Honeycombers, Telok Ayer’s a great location for shopping and working out as well.
5. City Hall
The top 5 in the list all have rates of more than $700 per square foot, starting with City Hall at $728 per square foot.
Just like Telok Ayer, City Hall is right smack amid the hustle and bustle of the CBD.
So if for those who work in town, having a flat in the CBD might be ideal as you won’t have to brave the crowd and the unreliable SMRT trains.
Commonwealth is next on our list, at $738 per square foot.
A subzone of Queenstown, Commonwealth mainly comprises of HDB flats.
The neighbourhood got its name from the Commonwealth of Nations — an intergovernmental organisation consisting of states that used to be under the British rule.
A notable landmark in the area is the Ministry of Education (MOE) Heritage Centre.
3. Labrador Park
Making it into the top 3 is Labrador Park — and HDB resale flats are priced at $754 per square foot.
In the area is the Labrador Nature Reserve.
Labrador Park is also home to Keppel Club — Singapore’s oldest golf and social club.
2. Outram Park
Just missing out on top spot is Outram Park, at $756 per square foot.
Just like Labrador Park, Outram Park boasts its own luscious greenery — in the form of the Pearl’s Hill City Park.
And with Tiong Bahru and Chinatown as its neighbours, shopping and dining is easy.
1. Tanjong Pagar
Claiming top spot in our list of most expensive areas for HDB resale flats is Tanjong Pagar — with flats going for a whooping $782 per square foot.
I mean just take a look at the award-winning Pinnacle @ Duxton — it just screams expensive.
Did we mention that the famous Maxwell Food Centre is located here too?
Galleries, cafes and bars flood the area so you don’t have to worry about having a lack of activities to partake in to while away your time.
Property Prices In Singapore
So that rounds up our list of the 10 most expensive areas for HDB resale flats in Singapore.
But if splashing the cash isn’t your thing, read our article on the 10 most affordable areas for HDB resale flats in Singapore.