Where to find the cheapest 5-room resale HDB flats in 2024 (from $418k)

Resale flat prices may be seeing slower growth, but they're still past any price level prior to Covid; and from the look of things, the $500,000 resale 5-room flat may be a thing of the past.

Or is it? As it turns out, it's still barely possible from what we've seen in 2023, depending on which districts you look in. For those of you who are on a budget, but absolutely must get a resale 5-room, here are some towns you might want to look into:

First, a look at 5-room flat price movements over 2023

Non-mature estate price movement

Mature estate price movement

Mature	2023-H1			2023-H2
Town	Average Price	Average Age	Vol	Average Price	Average of age	Vol	Change in price
ANG MO KIO	$785,782	34	49	$820,949	31	75	4.5per cent
BEDOK	$701,765	34	79	$707,850	36	139	0.9per cent
BISHAN	$899,107	34	42	$924,457	33	61	2.8per cent
BUKIT MERAH	$876,619	29	71	$977,400	29	97	11.5per cent
BUKIT TIMAH	$991,944	35	2	$1,064,444	37	9	7.3per cent
CENTRAL AREA	$1,230,625	18	8	$1,212,861	22	8	-1.4per cent
CLEMENTI	$840,802	33	33	$915,258	26	34	8.9per cent
GEYLANG	$790,107	38	25	$793,978	38	44	0.5per cent
KALLANG/WHAMPOA	$846,699	32	46	$904,133	29	62	6.8per cent
MARINE PARADE	$864,924	49	16	$891,093	48	20	3.0per cent
PASIR RIS	$652,452	30	98	$672,427	29	99	3.1per cent
QUEENSTOWN	$993,103	28	26	$951,308	35	26	-4.2per cent
SERANGOON	$670,536	32	27	$740,991	33	39	10.5per cent
TAMPINES	$696,811	28	191	$696,460	31	234	-0.1per cent
TOA PAYOH	$907,131	30	55	$912,249	29	59	0.6per cent

Generally, there's not much change since last year; the stand-outs being Bukit Merah and Serangoon. The big price jump in Bukit Merah was due to a record-breaking $1.45 million transaction, while earlier last year we had pointed out the noticeable pick-up in Serangoon resale prices.

Broadly speaking, however, prices in many HDB towns have lost some momentum, which provides a glimmer of hope for buyers. We'd also note that HDB ramped up production over 2022/23, and as those new flats hit their MOP and join the resale market, we don't see a probability of the same meteoric price rise in previous years. 

Now, on to where we found the cheapest flats

Age is a factor here, and if we just went by the absolute lowest quantum, we'd end up with just the very oldest flats. This may not work for everyone (e.g., if the least doesn't last till the youngest borrower reaches 95 years old, there will be restrictions on CPF usage). So we've broken these up by age instead.

In addition, we know HDB doesn't use mature and non-mature categorisations anymore; but we've continued using these, as most Singaporeans still evaluate the neighbourhood along the same lines.

Let's start with non-mature HDB towns

Non-mature flats under 10 years of age

Town	Address	Floor Range	Size	Lease Start	Price
CHOA CHU KANG	485A CHOA CHU KANG AVE 5	04 TO 06	113	2016	$570,000
WOODLANDS	787D WOODLANDS CRES	04 TO 06	112	2015	$570,000
YISHUN	335C YISHUN ST 31	04 TO 06	112	2015	$575,000
WOODLANDS	519 WOODLANDS CRES	04 TO 06	112	2015	$575,000
WOODLANDS	511 WOODLANDS CRES	04 TO 06	112	2015	$580,000
CHOA CHU KANG	810A CHOA CHU KANG AVE 5	04 TO 06	113	2016	$580,000
YISHUN	428B YISHUN AVE 1	04 TO 06	112	2015	$580,000
WOODLANDS	777 WOODLANDS CRES	07 TO 09	112	2015	$583,000
CHOA CHU KANG	490D CHOA CHU KANG AVE 5	04 TO 06	113	2016	$590,000
YISHUN	770 YISHUN AVE 11	04 TO 06	112	2015	$590,000
CHOA CHU KANG	488D CHOA CHU KANG AVE 5	07 TO 09	113	2016	$590,000
CHOA CHU KANG	810B CHOA CHU KANG AVE 5	04 TO 06	113	2016	$595,000
CHOA CHU KANG	817B KEAT HONG CL	04 TO 06	113	2018	$598,000

Non-mature flats between 11 – 20 years old

Town	Address	Floor Range	Size	Lease Start	Price
SENGKANG	440B FERNVALE LANE	07 TO 09	111	2004	$515,000
WOODLANDS	638 WOODLANDS DR 75	04 TO 06	110	2004	$520,000
SEMBAWANG	119B ADMIRALTY LINK	07 TO 09	111	2004	$520,000
SEMBAWANG	493 ADMIRALTY LINK	04 TO 06	111	2004	$525,000
SEMBAWANG	507C WELLINGTON CIRCLE	07 TO 09	110	2004	$525,000
SEMBAWANG	120B ADMIRALTY LINK	10 TO 12	110	2004	$525,000
WOODLANDS	653 WOODLANDS DR 75	04 TO 06	110	2004	$528,000
WOODLANDS	638 WOODLANDS DR 75	07 TO 09	110	2004	$528,000
SENGKANG	416B FERNVALE LANE	04 TO 06	112	2004	$530,000
SEMBAWANG	402 ADMIRALTY LINK	07 TO 09	111	2004	$530,000
WOODLANDS	638 WOODLANDS DR 75	10 TO 12	110	2004	$530,000
SEMBAWANG	491 ADMIRALTY LINK	10 TO 12	111	2004	$530,000
SEMBAWANG	120D ADMIRALTY LINK	04 TO 06	112	2004	$530,888
WOODLANDS	690E WOODLANDS DR 75	04 TO 06	110	2004	$532,000
WOODLANDS	634 WOODLANDS DR 75	10 TO 12	110	2004	$533,000
WOODLANDS	689C WOODLANDS DR 75	04 TO 06	110	2004	$535,000
WOODLANDS	689A WOODLANDS DR 75	13 TO 15	110	2004	$535,000
WOODLANDS	690C WOODLANDS DR 75	04 TO 06	110	2004	$540,000
SEMBAWANG	413 SEMBAWANG DR	10 TO 12	110	2006	$540,000
SENGKANG	416C FERNVALE LANE	19 TO 21	112	2004	$540,000
WOODLANDS	687A WOODLANDS DR 75	16 TO 18	110	2004	$541,888
PUNGGOL	106D PUNGGOL FIELD	04 TO 06	110	2004	$545,000
WOODLANDS	659 WOODLANDS DR 75	13 TO 15	110	2004	$545,000

Non-mature flats between 21 – 30 years old

Town	Address	Floor Range	Size	Lease Start	Price
SENGKANG	186A RIVERVALE DR	04 TO 06	115	2000	$478,000
CHOA CHU KANG	221 CHOA CHU KANG CRES	04 TO 06	110	2003	$478,000
CHOA CHU KANG	679 CHOA CHU KANG CRES	04 TO 06	110	2002	$488,000
SEMBAWANG	353B ADMIRALTY DR	04 TO 06	118	2001	$488,000
SEMBAWANG	120D ADMIRALTY LINK	04 TO 06	110	2001	$490,000
SEMBAWANG	119B ADMIRALTY LINK	10 TO 12	110	2001	$490,000
PUNGGOL	104B EDGEDALE PLAINS	04 TO 06	112	2003	$495,000
CHOA CHU KANG	785 CHOA CHU KANG CRES	04 TO 06	110	2002	$495,000
CHOA CHU KANG	683B CHOA CHU KANG CRES	04 TO 06	110	2002	$495,000
CHOA CHU KANG	684A CHOA CHU KANG CRES	04 TO 06	110	2002	$496,000
JURONG WEST	276C JURONG WEST ST 25	04 TO 06	111	2002	$498,000
SENGKANG	188C RIVERVALE DR	04 TO 06	109	2001	$498,888

Non-mature flats above 30 years old

Town	Address	Floor Range	Size	Lease Start	Price
WOODLANDS	141 MARSILING DR	10 TO 12	117	1976	$418,000
WOODLANDS	137 MARSILING DR	13 TO 15	118	1977	$430,000
JURONG WEST	197D BOON LAY DR	04 TO 06	120	1976	$450,000
JURONG EAST	60 PANDAN GDNS	10 TO 12	114	1979	$450,000
WOODLANDS	37 MARSILING DR	04 TO 06	124	1978	$460,000
JURONG WEST	200 BOON LAY DR	04 TO 06	121	1976	$470,000
JURONG WEST	351 BOON LAY DR	07 TO 09	113	1976	$470,000
CHOA CHU KANG	18 TECK WHYE LANE	04 TO 06	119	1979	$478,000
WOODLANDS	36 MARSILING DR	04 TO 06	123	1976	$480,000
JURONG WEST	367 BOON LAY DR	07 TO 09	121	1976	$480,000
JURONG WEST	444 BOON LAY DR	07 TO 09	112	1976	$480,000
JURONG EAST	413 PANDAN GDNS	07 TO 09	114	1979	$480,000
WOODLANDS	123 MARSILING DR	13 TO 15	124	1978	$480,000
WOODLANDS	123 MARSILING DR	19 TO 21	117	1976	$480,000
JURONG WEST	427 BOON LAY DR	04 TO 06	120	1976	$480,888
WOODLANDS	129 MARSILING RD	04 TO 06	121	1985	$482,000
JURONG WEST	339B JURONG WEST ST 93	04 TO 06	122	1989	$482,000
WOODLANDS	125 MARSILING DR	04 TO 06	124	1978	$485,000
WOODLANDS	120 MARSILING DR	07 TO 09	118	1977	$485,000
JURONG WEST	197D BOON LAY DR	10 TO 12	121	1976	$485,000
CHOA CHU KANG	13 TECK WHYE LANE	16 TO 18	119	1979	$485,000
JURONG WEST	260 BOON LAY DR	07 TO 09	120	1976	$488,000
JURONG EAST	21 PANDAN GDNS	04 TO 06	117	1979	$488,888
JURONG WEST	200 BOON LAY DR	07 TO 09	122	1976	$488,888
WOODLANDS	831 WOODLANDS ST 13	04 TO 06	121	1985	$490,000
WOODLANDS	137 MARSILING DR	10 TO 12	124	1978	$490,000
CHOA CHU KANG	425 TECK WHYE LANE	13 TO 15	119	1979	$490,000
WOODLANDS	370 MARSILING DR	16 TO 18	118	1977	$490,000
YISHUN	333A YISHUN ST 22	04 TO 06	122	1987	$495,000
CHOA CHU KANG	141 TECK WHYE LANE	16 TO 18	119	1979	$495,000

Overall, the cheapest non-mature towns for 5-room flats are Woodlands, Choa Chu Kang, Sembawang, and Sengkang. 

If you look at the oldest flats, however, Jurong West (and in rarer cases Jurong East) start to make an appearance. This still goes back to the roots of the town; right up to the 1980s, Jurong was a manufacturing hub. The flats that are in the Jurong West area were initially meant for housing blue-collar workers, and hence the oldest ones started at low initial prices.

It's also possible that the huge transformation of Jurong East, near the MRT station, is far ahead of the changes we've seen in Jurong West.

One side is the "second CBD" which is a retail powerhouse, with JEM, Westgate, IMM, and so forth; whereas Jurong West is still more known as "that place where foreign workers like to rent." This is likely to change in the coming years though, as Jurong's transformation continues.

Conversely, among the youngest HDB flats, Yishun is more prevalent. Putting aside the usual slew of jokes (Yishun has a generally undeserved reputation for weirdness), many Singaporeans still consider Yishun a bit too secluded and far up north, although decentralisation may fix that with time. Besides, additions like Northpoint City mean that you don't have to travel outside of Yishun to get access to your usual slew of restaurants/cafes and shops.

One notable observation is that, if you're willing to settle for a 21+ year old, non-mature flat, prices can be below $500,000. The 5-room flats only climb past $500,000 if you want newer flats, for the non-mature towns.

Now let’s look at mature towns

Mature flats below 10 years old

Town	Address	Floor Range	Size	Lease Start	Price
TAMPINES	491G TAMPINES ST 45	10 TO 12	113	2018	$748,000
TAMPINES	494H TAMPINES ST 45	07 TO 09	113	2018	$748,888
TAMPINES	14 TAMPINES ST 86	04 TO 06	114	2017	$758,000
TAMPINES	494J TAMPINES ST 45	04 TO 06	113	2018	$762,000
TAMPINES	870A TAMPINES ST 86	04 TO 06	113	2017	$770,000
TAMPINES	716 TAMPINES ST 45	04 TO 06	113	2018	$770,000
TAMPINES	703 TAMPINES ST 45	04 TO 06	113	2018	$775,000
TAMPINES	494H TAMPINES ST 45	10 TO 12	113	2018	$775,000
TAMPINES	494H TAMPINES ST 45	07 TO 09	113	2018	$780,000
TAMPINES	714 TAMPINES ST 45	07 TO 09	113	2018	$788,000
TAMPINES	498A TAMPINES ST 45	10 TO 12	113	2018	$788,888
TAMPINES	871C TAMPINES ST 86	04 TO 06	114	2017	$790,000
PASIR RIS	520 PASIR RIS ST 51	07 TO 09	113	2015	$790,000
TAMPINES	497G TAMPINES ST 45	07 TO 09	113	2018	$795,000
TAMPINES	926 TAMPINES ST 86	10 TO 12	114	2017	$795,000
PASIR RIS	526D PASIR RIS ST 51	13 TO 15	113	2015	$798,888

Mature flats between 11 – 20 years old

Town	Address	Floor Range	Size	Lease Start	Price
KALLANG/WHAMPOA	21 JLN TENTERAM	19 TO 21	105	2004	$758,000
KALLANG/WHAMPOA	14 UPP BOON KENG RD	04 TO 06	110	2006	$775,000
KALLANG/WHAMPOA	4C JLN TENTERAM	25 TO 27	105	2004	$778,000
BUKIT MERAH	50 DEPOT RD	16 TO 18	115	2006	$790,000
KALLANG/WHAMPOA	14A JLN TENTERAM	22 TO 24	105	2004	$790,000

Mature flats between 21 – 30 years old

Town	Address	Floor Range	Size	Lease Start	Price
TAMPINES	455 TAMPINES ST 34	04 TO 06	121	1996	$585,000
PASIR RIS	146 PASIR RIS ST 11	04 TO 06	126	1994	$600,000
TAMPINES	373 TAMPINES ST 33	07 TO 09	126	1996	$600,000
PASIR RIS	180 PASIR RIS ST 11	07 TO 09	126	1994	$600,000
SERANGOON	523 SERANGOON NTH AVE 4	04 TO 06	121	1997	$603,000
PASIR RIS	225 PASIR RIS ST 21	07 TO 09	134	1994	$610,000
TAMPINES	339 TAMPINES ST 33	04 TO 06	122	1996	$618,000
PASIR RIS	750 PASIR RIS ST 71	04 TO 06	121	1996	$620,000
PASIR RIS	751 PASIR RIS ST 71	07 TO 09	128	1996	$622,000
PASIR RIS	214 PASIR RIS ST 13	04 TO 06	128	1995	$625,000
PASIR RIS	757 PASIR RIS ST 71	10 TO 12	126	1996	$627,000
PASIR RIS	725 PASIR RIS ST 71	07 TO 09	128	1996	$628,000
BEDOK	771 BEDOK RESERVOIR VIEW	04 TO 06	115	2000	$630,000
TAMPINES	342 TAMPINES ST 33	07 TO 09	128	1996	$630,000
TAMPINES	450A TAMPINES ST 34	10 TO 12	121	1997	$630,000
PASIR RIS	255 PASIR RIS ST 21	07 TO 09	127	1994	$630,000
TAMPINES	345 TAMPINES ST 33	04 TO 06	134	1996	$630,000
PASIR RIS	721 PASIR RIS ST 71	04 TO 06	128	1996	$630,000
PASIR RIS	627 PASIR RIS DR 3	04 TO 06	120	1995	$630,000
PASIR RIS	182 PASIR RIS ST 11	07 TO 09	125	1995	$630,000
PASIR RIS	760 PASIR RIS ST 71	04 TO 06	127	1996	$633,888
PASIR RIS	626 PASIR RIS DR 3	04 TO 06	122	1995	$635,000
PASIR RIS	661C PASIR RIS ST 71	04 TO 06	126	1996	$635,000
ANG MO KIO	725 ANG MO KIO AVE 4	04 TO 06	134	1996	$635,000
PASIR RIS	113 PASIR RIS ST 11	07 TO 09	127	1995	$635,000
TAMPINES	360 TAMPINES ST 34	04 TO 06	121	1997	$635,000
PASIR RIS	184 PASIR RIS ST 11	07 TO 09	128	1994	$638,000
TAMPINES	366 TAMPINES ST 34	07 TO 09	121	1997	$638,000
TAMPINES	367 TAMPINES ST 34	04 TO 06	121	1996	$640,000
TAMPINES	367 TAMPINES ST 34	04 TO 06	122	1997	$640,000
TAMPINES	712 TAMPINES ST 71	04 TO 06	120	1997	$642,000
PASIR RIS	228 PASIR RIS ST 21	04 TO 06	134	1994	$643,000
PASIR RIS	760 PASIR RIS ST 71	07 TO 09	125	1996	$645,000
SERANGOON	512 SERANGOON NTH AVE 4	04 TO 06	121	1997	$645,000
PASIR RIS	756 PASIR RIS ST 71	07 TO 09	127	1996	$645,000
TAMPINES	707 TAMPINES ST 71	07 TO 09	120	1997	$645,000
PASIR RIS	458 PASIR RIS DR 10	04 TO 06	127	1996	$645,000
TAMPINES	867 TAMPINES ST 72	13 TO 15	120	1997	$648,000
TAMPINES	346 TAMPINES ST 33	04 TO 06	136	1996	$648,000
PASIR RIS	741 PASIR RIS ST 71	04 TO 06	127	1996	$648,000

Mature flats more than 30 years old

Town	Address	Floor Range	Size	Lease Start	Price
BEDOK	413 BEDOK NTH AVE 1	04 TO 06	121	1980	$508,000
TAMPINES	294 TAMPINES ST 22	04 TO 06	126	1985	$545,000
BEDOK	613A BEDOK RESERVOIR RD	07 TO 09	120	1982	$548,000
BEDOK	723 BEDOK RESERVOIR RD	04 TO 06	126	1985	$550,000
GEYLANG	7 EUNOS CRES	04 TO 06	123	1977	$560,888
BEDOK	761 BEDOK RESERVOIR RD	07 TO 09	121	1982	$568,000
BEDOK	670 CHAI CHEE ST	04 TO 06	121	1981	$570,000
BEDOK	604 BEDOK RESERVOIR RD	07 TO 09	121	1982	$573,800
BEDOK	671 CHAI CHEE ST	04 TO 06	121	1981	$575,000
BEDOK	613A BEDOK RESERVOIR RD	07 TO 09	121	1981	$580,000
BEDOK	604 BEDOK RESERVOIR RD	07 TO 09	121	1982	$582,000
TAMPINES	388 TAMPINES ST 22	04 TO 06	121	1985	$582,888
BEDOK	54 CHAI CHEE ST	10 TO 12	121	1981	$583,000
BEDOK	30 NEW UPP CHANGI RD	04 TO 06	118	1977	$585,000
TOA PAYOH	218 LOR 8 TOA PAYOH	16 TO 18	117	1976	$588,000
GEYLANG	6 EUNOS CRES	13 TO 15	123	1977	$588,000
GEYLANG	997B UBI AVE 1	04 TO 06	122	1989	$588,000
TAMPINES	279 TAMPINES ST 22	10 TO 12	126	1985	$590,000
BEDOK	629 BEDOK RESERVOIR RD	04 TO 06	123	1982	$590,000
BEDOK	710 BEDOK RESERVOIR RD	07 TO 09	122	1982	$590,000
GEYLANG	15 EUNOS CRES	04 TO 06	123	1977	$590,000
PASIR RIS	551 PASIR RIS ST 21	04 TO 06	128	1993	$590,000
BEDOK	621 BEDOK RESERVOIR RD	04 TO 06	121	1980	$590,000
BEDOK	748B BEDOK NTH ST 4	13 TO 15	117	1978	$590,000
BEDOK	612 BEDOK RESERVOIR RD	04 TO 06	120	1982	$592,000
BEDOK	90 BEDOK NTH RD	10 TO 12	117	1978	$592,000
KALLANG/WHAMPOA	113 UPP BOON KENG RD	13 TO 15	117	1976	$595,000
BEDOK	415 BEDOK NTH AVE 1	07 TO 09	121	1980	$595,000
BEDOK	603 BEDOK RESERVOIR RD	07 TO 09	121	1983	$595,000
BEDOK	142 BEDOK RESERVOIR RD	04 TO 06	122	1986	$595,000
BEDOK	710 BEDOK RESERVOIR RD	10 TO 12	123	1982	$595,000
BEDOK	722 BEDOK RESERVOIR RD	07 TO 09	121	1980	$595,000
GEYLANG	997C UBI AVE 1	04 TO 06	122	1989	$595,000
GEYLANG	13 EUNOS CRES	04 TO 06	117	1977	$596,888
TAMPINES	279 TAMPINES ST 22	04 TO 06	121	1985	$598,888

For mature towns, there's not a single 5-room flat that's below $500,000 anymore. The absolute lowest we found was $508,000, for a 30+ year old flat in Bedok. 

That said, Tampines is generally the cheaper option here, if you want a newer 5-room flat. Prices are still north of $740,000, but this may be as cheap as it gets if you want a newer flat that is 10 years old or under. 

The thing about Tampines though, is that it's a big place: even though it's a regional centre, a lot of the best qualities are concentrated in Tampines Central — this is where there's a large cluster of malls, office space, the Tampines MRT station, and so forth.

Areas like Tampines Street 45, which are closer to Tampines East MRT, are rather far from this hotspot; so there can be a big discrepancy in the level of convenience.

Among the oldest flats, Bedok is quite prevalent. Bedok used to be the biggest town in Singapore by the way (but it was overtaken by Tampines in the mid-90s, then by Jurong West, and today the biggest is Hougang).

But still, like Tampines, it's a big area; and although it's called mature, some areas are still a bit inaccessible. Bedok North Avenue 1, and Bedok Reservoir, for instance, are seemingly light-years apart from Bedok Central, where you find amenities like Bedok Point, the upcoming Sky Eden, etc. So while we can tell you the cheapest 5-room flats are here, this neighbourhood is so large that it's quite difficult to generalise. 

To be sure, these aren't the cheapest prices — in fact, they're probably surprising if this is the first time you've checked resale prices since the previous decade. But this is the reality of the market now; and if you can afford to wait and are on a budget, this may be your cue to join the BTO line for now. 

ALSO READ: Where to find the cheapest new-launch condos in 2024 (from $1.15m)

This article was first published in Stackedhomes.