How much does it cost to live in Singapore's 3 hottest HDB estates?

How much does it cost to live in Singapore's 3 hottest HDB estates?
PHOTO: The Straits Times

HDB flats in Punggol, Sengkang, and Choa Chu Kang are in high demand this year, as all three towns came out with the highest resale registered application counts in Q1 2021.

These popular HDB estates are growing in both size and cost, and this trend will continue for the foreseeable future as the Singaporean Government moves ahead with its Master Plan for urban development.

Before you jump into the housing search, take a look at the three hottest property estates in Singapore — you may find that one of them is perfect for your living preferences and budget.

1. Punggol

Punggol is one of the oldest and most well-established HDB estates in Singapore. Per the Punggol Digital District (PDD) plan, part of the town is expected to be Singapore's first smart and integrated district. The PDD is set to drive digital industries like cybersecurity and digital technology, all the while supporting green, sustainable living.

In addition to these great expectations, Punggol has served its residents for decades with its famous seafood restaurants, multiple healthcare facilities, community and cultural centers, and parks.

Thus, thanks to the endless list of amenities for both families and single people, alike, Punggol is one of the best places to live in Singapore.

As of Q1 2021, Punggol's four-bedroom, five-bedroom, and executive HDB flats are lower than the average HDB prices in Singapore . If you're interested in securing a large flat for yourself or your family, then Punggol's current resale prices are great value deals.

While an Executive flat has the largest cost difference among HDB flat types in Punggol, it's important to note that they barely account for 0.01 per cent of total units based on resale registered application volume and therefore may be hard to come by.

However, if you are able to get your hands on a Punggol Executive flat, then you'll be able to save an average of 21.44 per cent in resale value — which is the best deal found amongst all 3 estates.

2. Sengkang

Sengkang is the second most popular HDB estate, much due to its urban appeal to young Singaporeans. The modern district is becoming a cornerstone of Singapore's economy, with white-collared workers rushing to secure a flat in Sengkang New Town.

You'll find an array of high-end establishments in Sengkang like world-class restaurants and New Brunswick University.

Sengkang is seeing rapid growth both in population and commercial development, as the Singaporean government continues to develop the district's transportation system and job opportunities.

However, Sengkang is positioned to be more than just an industry hub. Soon, the Singapore Master Plan will bring more green spaces and recreational facilities to the town.

Similar to Punggol, Sengkang's cost-saving opportunities lie with its four-room, five-room and executive HDB flats. Resale prices in Sengkang are cheaper than the neighboring Punggol, which is great for those who want to save money while still living in a well-established, modern town.

Young professionals will be able to make the most of the district's lower-than-average prices, which are fairly valued against the town's up-and-coming, yet trendy atmosphere.

3. Choa Chu Kang

Though Choa Chu Kang trails behind Punggol and Sengkang in demand by almost half the volume, it is proving itself to be the next promising HDB estate.

As of now, the town offers all basic and essential facilities like hospitals, schools, and shopping malls. Most notably, the town's transportation system — the fully automated Light Rapid and Mass Rapid Transport — brings a high level of convenience to its residents.

Choa Chu Kang's resale prices are well below the average in Singapore. In fact, you'll be able to save thousands of dollars no matter which HDB flat you are interested in securing.

Large families can save the most by moving to Choa Chu Kang, considering four-room and five-room flats are -13.70 per cent and -18.22 per cent below the average, respectively.

If you are seeking to move to the next up-and-coming estate in Singapore without breaking the bank, then Choa Chu Kang is a top property estate to consider.

This article was first published in ValueChampion.

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