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Updated list of HDB Executive Apartments in 2022: How much are they and where can you find them?

Updated list of HDB Executive Apartments in 2022: How much are they and where can you find them?
PHOTO: Pixabay

With private housing prices at a new peak, HDB upgraders may find that condos are currently out of reach. The next best alternative might be the spacious Executive Apartments (EAs), which go up to a whopping 1,600+ sq ft in some areas.

At around half the price of a typical new launch condo today and minus the high maintenance fees, EAs are increasingly on the shortlist of home buyers. Here’s how their prices have moved since last year. 

What are HDB Executive Apartments?

We have a more detailed description in our previous piece. But in short, the first Executive Apartment came about in 1984.

Unlike their Executive Maisonette (EM) counterparts which have two storeys, EAs are set over just one floor but were still among the largest flats built by HDB. At the time, they ranged between 141 to 156 sqm. 

Executive Apartments have certain features that you won’t find in many other flats. The main ones are balconies and study rooms (which can be easily reconfigured to other purposes). 

Here are some of the various floor plans you can check out too, if you are looking for an HDB Executive Apartment.

We’ve also done several house tours of Executive Apartments if you want to see just how different each can be:

Current EA prices and locations 

 
HDB EA No. of Tnx Price Average Price Age Size
Ang Mo Kio 7 $800,000 – $1,120,000 $948,571 26 – 26 146 – 156
Bedok 22 $690,000 – $980,000 $852,626 26 – 38 141 – 158
Bishan 3 $870,000 – $1,180,000 $1,059,333 30 – 35 141 – 142
Bukit Batok 29 $640,000 – $900,000 $773,151 24 – 38 140 – 152
Bukit Panjang 37 $500,000 – $960,800 $680,756 19 – 34 124 – 145
Chua Chu Kang 50 $580,000 – $880,000 $679,833 19 – 33 125 – 151
Clementi 1 $890,000 – $890,000 $890,000 37 – 37 149 – 149
Geylang 6 $815,000 – $965,000 $915,167 35 – 37 142 – 160
Hougang 28 $618,000 – $1,072,888 $771,587 23 – 38 136 – 149
Jurong East 15 $620,000 – $960,000 $844,333 24 – 36 142 – 147
Jurong West 89 $503,000 – $750,000 $648,424 20 – 33 125 – 154
Kallang/Whampoa 5 $800,000 – $1,095,000 $954,600 28 – 36 141 – 147
Pasir Ris 130 $635,000 – $928,000 $749,057 26 – 30 143 – 161
Punggol 21 $605,000 – $750,000 $655,411 18 – 19 128 – 130
Queenstown 4 $1,046,000 – $1,130,000 $1,089,000 27 – 27 142 – 149
Sembawang 47 $560,000 – $670,888 $614,767 20 – 24 125 – 142
Sengkang 84 $567,000 – $828,000 $678,175 19 – 24 125 – 144
Serangoon 12 $765,000 – $1,150,000 $903,083 24 – 36 140 – 150
Tampines 61 $670,000 – $950,000 $793,453 25 – 38 137 – 159
Toa Payoh 2 $908,000 – $950,000 $929,000 29 – 29 142 – 145
Woodlands 118 $600,000 – $1,040,000 $779,457 21 – 36 130 – 192
Yishun 31 $660,000 – $1,038,000 $802,941 30 – 36 142 – 187

Most notable price movements since last year 

The biggest price increases happened in the following neighbourhoods:

  • Yishun (+10.6 per cent)
  • Kallang / Whampoa (+9.5 per cent)
  • Bishan (+9.5 per cent)
  • Chua Chu Kang (+7.7 per cent)
  • Tampines (+7.1 per cent)
HDB EA 2021 2022 Price Change per cent Change
Ang Mo Kio $910,793 $948,571 +$37,779 +4.1 per cent
Bedok $797,940 $852,626 +$54,686 +6.9 per cent
Bishan $967,600 $1,059,333 +$91,733 +9.5 per cent
Bukit Batok $730,566 $773,151 +$42,585 +5.8 per cent
Bukit Panjang $680,259 $680,756 +$497 +0.1 per cent
Bukit Timah $1,027,500 None    
Chua Chu Kang $631,087 $679,833 +$48,746 +7.7 per cent
Clementi $879,000 $890,000 +$11,000 +1.3 per cent
Geylang $910,444 $915,167 +$4,722 +0.5 per cent
Hougang $736,876 $771,587 +$34,712 +4.7 per cent
Jurong East $810,707 $844,333 +$33,626 +4.1 per cent
Jurong West $619,548 $648,424 +$28,875 +4.7 per cent
Kallang/Whampoa $871,438 $954,600 +$83,163 +9.5 per cent
Pasir Ris $705,905 $749,057 +$43,153 +6.1 per cent
Punggol $615,151 $655,411 +$40,260 +6.5 per cent
Queenstown $1,089,333 $1,089,000 -$333 -0.0 per cent
Sembawang $581,541 $614,767 +$33,226 +5.7 per cent
Sengkang $638,940 $678,175 +$39,234 +6.1 per cent
Serangoon $860,842 $903,083 +$42,241 +4.9 per cent
Tampines $740,730 $793,453 +$52,723 +7.1 per cent
Toa Payoh $941,225 $929,000 -$12,225 -1.3 per cent
Woodlands $728,886 $779,457 +$50,571 +6.9 per cent
Yishun $725,987 $802,941 +$76,954 +10.6 per cent

Note that for Geylang, Queenstown and Toa Payoh, the transaction volumes were very low; this would account for the price movement being mainly flat or showing a slight dip. 

The real eye-opener this year has been Yishun, with the average quantum for EAs in this estate now $802,941. This may be due in part to the following three transactions this year:

Month Address Storey Range Size (Sqm) Type Lease Commencement Lease Remaining Price Age
2022-06 608 YISHUN ST 61 01 TO 03 164 Apartment 1992 68 years 11 months $1,000,000 30
2022-05 664 YISHUN AVE 4 07 TO 09 181 Apartment 1992 69 years 02 months $1,000,888 30
2022-02 652 YISHUN AVE 4 04 TO 06 187 Apartment 1992 69 years 04 months $1,038,000 30

In any case, the average EA price in Yishun is now surprisingly higher than the average in Tampines ($793,453) – this is despite Tampines being a mature estate and the regional centre of the east! 

Chua Chu Kang is another non-mature area with a notable price jump. The causes are less apparent but one realtor mentioned the August 2022 BTO launch exercise. He said that those who fail to obtain a BTO flat but are insistent on the location, sometimes turn to nearby resale options. 

The realtor also noted that Chua Chu Kang will see improved connectivity with the Jurong Region Line, for which Chua Chu Kang MRT station will be an interchange. This improved accessibility will take the estate one step further from its current 'ulu' status. 

The rising prices in Kallang/Whampoa, Bishan and Tampines should come as no surprise: resale flat prices are at a new peak in Singapore and these mature estates are long-time favourites. Do note, however, that Tampines seems on average the cheapest among these hotspots. 

A quick note on Tampines 

One realtor we spoke to had an opinion about Tampines showing the lowest average EA price. 

She noted that recent EA listings in Tampines have been in locations such as Tampines Street 32 to Street 45. These EAs are close to Tampines East MRT station (Downtown Line), but this is not the part of Tampines that most people are attracted to.

The “hot spot” for Tampines is the cluster of three malls (Tampines Mall, Tampines 1 and Century Square) and the Tampines MRT station (East-West Line).

She noted that, if you look for EAs along Tampines Avenue 5 – which is within a five to seven minutes walk of Tampines MRT, there are few listings that will go below $980,000. 

Tampines is a rather large estate, so be aware that prices can diverge significantly as you get closer to Tampines MRT. 

ALSO READ: Dakota Crescent maisonette sold for a record $1.05 million

EA prices still have room to rise 

EA prices are benefitting from a number of factors, similar to the ones we highlighted for Maisonettes. It’s a combination of high demand from the aftermath of Covid-19 and limited supply (even with ramped up production, HDB needs four to five years to build a BTO development). 

Another factor is the high prices in the private property market – we’ve seen new launches like AMO Residence and Lentor Modern hit $2 million for three-bedder units. 

In light of a pricey private home market, HDB upgraders may set their sights on a larger flat instead; especially with home loan rates climbing (depending on their income level, many EA buyers may be told to get a bank loan instead of an HDB loan). 

Barring a drastic change, such as new policy measures to curb Cash Over Valuation (COV), there doesn’t seem to be much reason for EA prices to fall anytime soon.

This article was first published in Stackedhomes.

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