With BTO flats seeing delays of a year or longer, it’s no surprise that resale flats are back in vogue. However, resale flats aren’t just more expensive; they come with the issue of lease decay. And for home buyers who have aspirations to upgrade later, older resale flats may be a hard choice. The best alternative may be a five-year old flat, which just reached its Minimum Occupancy Period (MOP). Here’s where you can find the most affordable ones this year:
A shortlist filtered by price, size or tenure is a useful way to narrow your options, but it won't tell you which property is the best fit for your finances, lifestyle or long-term plans.
That's where the real evaluation begins: comparing the trade-offs between each option to decide which one makes the most sense for your situation.
Over time, that's also why we decided to work with agents who shared the same data-driven and advisory-led approach behind our editorial, consultants who could help readers think through decisions more objectively, rather than simply push transactions.
Today, the team has worked with more than 2,000 clients across over $5B in property transactions.
A quick note on the MOP
The Minimum Occupancy Period (MOP) is five years from the time of key collection, not the flat’s launch exercise or time of purchase. The following projects are estimated to have just reached their MOP, or are at least very close to it. For exact details, do drop us a message and we can tell you more about the specific project.
The following summarises the most affordable resale flats; for the full list of five-year old flats it's right here:
| Estate | HDB Projects | 3 Room | 4 Room | 5 Room | Lease Commence Year | Volume |
| Bedok | Ping Yi Greens | $480,000 | $630,000 | $770,000 | 2016 | 45 |
| Bukit Merah | Telok Blangah Ridgeview | $615,000 | $805,000 | - | 2017 | 17 |
| Bukit Merah | Tiong Bahru View | $683,000 | $897,944 | $1,168,000 | 2016 | 16 |
| Bukit Panjang | Fajar Hills | $350,000 | $462,500 | $578,000 | 2016 | 40 |
| Choa Chu Kang | Keat Hong Axis | $350,500 | $465,000 | $554,000 | 2017 | 101 |
| Choa Chu Kang | Keat Hong Colours | $366,500 | $480,000 | $590,000 | 2017 | 42 |
| Choa Chu Kang | Keat Hong Mirage | - | $482,500 | $578,000 | 2017 | 9 |
| Choa Chu Kang | Keat Hong Pride | $357,500 | $455,000 | $560,000 | 2017 | 53 |
| Choa Chu Kang | Sunshine Gardens | $345,500 | $445,000 | $540,000 | 2016 | 54 |
| Clementi | Clementi Cascadia | - | $825,000 | - | 2017 | 3 |
| Geylang | Greentops @ Sims Place | $495,000 | - | - | 2016 | 11 |
| Geylang | Macpherson Residency | $518,000 | $732,400 | - | 2016 | 35 |
| Hougang | Hougang Capeview | $418,000 | $552,500 | $751,444 | 2016 | 35 |
| Hougang | Hougang Dewcourt | - | $490,000 | - | 2016 | 8 |
| Hougang | Hougang Parkedge | $380,000 | $511,000 | $658,000 | 2017 | 29 |
| Jurong East | Teban View | $375,000 | $525,000 | - | 2016 | 26 |
| Jurong West | Jurong West Blossom | $385,000 | $580,000 | $798,000 | 2017 | 9 |
| Kallang/Whampoa | Kallang Trivista | $600,000 | $881,500 | $1,068,000 | 2017 | 6 |
| Kallang/Whampoa | Tenteram Peak | $528,000 | $720,000 | - | 2017 | 2 |
| Punggol | Matilda Portico | - | $484,000 | $608,888 | 2017 | 19 |
| Punggol | Punggol Edge | $366,500 | $460,000 | $570,000 | 2017 | 27 |
| Punggol | Punggol Opal | $375,000 | $490,000 | $597,500 | 2016 | 57 |
| Punggol | Punggol Topaz | $390,000 | $480,000 | $580,944 | 2016 | 28 |
| Punggol | Waterway Brooks & Waterway Woodcress | $395,000 | $520,000 | $665,000 | 2016 | 133 |
| Punggol | Waterway Cascadia | $396,500 | $536,944 | $685,000 | 2017 | 37 |
| Punggol | Waterway Ridges | $375,000 | $488,000 | $642,500 | 2016 | 55 |
| Punggol | Waterway Sunbeam | $360,000 | $463,000 | $606,500 | 2016 | 51 |
| Punggol | Waterway Sundew | $375,000 | $479,000 | - | 2017 | 7 |
| Punggol | Waterway Terraces | $397,500 | $525,000 | $682,944 | 2016 | 55 |
| Punggol | Waterway Terraces II | $386,500 | $525,000 | $647,500 | 2016 | 54 |
| Queenstown | SkyTerrace@Dawson | $638,944 | $874,000 | $980,000 | 2016 | 51 |
| Queenstown | SkyVille@Dawson | $649,500 | $825,000 | $1,020,000 | 2016 | 63 |
| Sengkang | Anchorvale Harvest & Fernvale Rivergrove | $361,994 | $468,500 | $598,888 | 2016 | 35 |
| Sengkang | Compassvale Boardwalk | - | $480,000 | $605,000 | 2016 | 28 |
| Sengkang | Compassvale Cape | - | $460,000 | - | 2017 | 1 |
| Sengkang | Compassvale Helm | - | $600,000 | $652,500 | 2017 | 3 |
| Sengkang | Compassvale Mast | $447,500 | $584,444 | $702,500 | 2017 | 33 |
| Sengkang | Fernvale Lea | $352,500 | $451,444 | $550,000 | 2016 | 51 |
| Sengkang | Fernvale Riverbow | $360,000 | $465,000 | $610,000 | 2016 | 45 |
| Sengkang | Fernvale Rivergrove | $365,000 | $452,000 | - | 2016 | 18 |
| Sengkang | Rivervale Delta | $343,444 | $440,000 | $543,000 | 2017 | 91 |
| Tampines | Tampines Greenforest | - | $529,500 | - | 2017 | 2 |
| Tampines | Tampines Greenlace | - | $550,000 | $655,000 | 2017 | 56 |
| Toa Payoh | Joo Seng Green | $520,000 | $690,000 | - | 2017 | 18 |
| Woodlands | Admiralty Vista | - | $478,500 | - | 2017 | 2 |
| Woodlands | Treetrail @ Woodlands | - | $475,000 | $580,000 | 2017 | 50 |
| Woodlands | Woodlands Peak | $366,500 | - | - | 2016 | 5 |
| Yishun | Acacia Breeze | $341,000 | $437,444 | $550,000 | 2016 | 32 |
| Yishun | Oleander Breeze @ Yishun | - | $455,000 | $605,000 | 2017 | 7 |
| Yishun | Yishun Natura | $346,500 | $445,000 | $600,000 | 2016 | 16 |
The Punggol – Sengkang – Yishun triad
If you’re looking for a resale flat within five to 10-years old, you’ll probably find it in one of these three towns.
Punggol, Sengkang, and Yishun currently have the greatest number of “young” resale flats. Back in 2020, about 6,493 “young” resale flats were sold; of that number, around half came from this triad of towns.
Punggol is currently the town with the highest number of flats reaching MOP, at a staggering 6,839 flats as of end-2020. Even Sengkang was a very distant second, with only 4,430 flats reaching MOP last year.
Yishun and Choa Chu Kang are starting to catch up as of 2021 (exact numbers of MOP flats are not yet available, but we will update this as soon as the data arrives).
Cheapest MOP 3-room flats
The median price for these resale flats, as of Q1 2021, is estimated at $427,708.
| Development | Location / Town | Volume | Median Price |
| Rivervale Delta | Rivervale Crescent / Sengkang | 10 | $343,444 |
| Sunshine Gardens | Choa Chu Kang Ave 5 / Choa Chu Kang | 2 | $345,500 |
| Keat Hong Axis | Choa Chu Kang Ave 1 / Choa Chu Kang | 17 | $350,500 |
| Keat Hong Pride | Keat Hong Close / Choa Chu Kang | 11 | $357,500 |
| Keat Hong Colours | Choa Chu Kang Avenue 7 / Choa Chu Kang | 2 | $366,500 |
Back in the 1990’s, Choa Chu Kang was not a lower-cost area. However, the situation has since changed – Bukit Panjang stole a lead in terms of flat prices, due to the new Downtown Line (DTL) stations providing improved accessibility.
In addition, the transformation of Jurong East has overshadowed Choa Chu Kang (several decades ago, when Jurong was just an industrial area, some believed that Choa Chu Kang would become the hub of the west).
Nonetheless, Choa Chu Kang is being upgraded: Limbang Shopping Centre was revamped about two years prior, and the Choa Chu Kang town centre is slated to become a major transport node, connecting to the Jurong Regional Line (JRL) and Bukit Panjang LRT.
Sengkang, in the meantime, remains the most affordable area for resale 3-room flats. At an average of $343,444, it’s close to the price of a BTO flat. The trade-off, however, is that Sengkang still has far to go in terms of development.
Cheapest MOP 4-room flats
The median price for these resale flats, as of Q1 2021, is estimated at $545,109.
| Development | Location / Town | Volume | Median Price |
| Acacia Breeze | Yishun Street 51 / Yishun | 14 | $437,444 |
| Rivervale Delta | Rivervale Crescent / Sengkang | 42 | $440,000 |
| Sunshine Gardens | Choa Chu Kang Ave 5 / Choa Chu Kang | 31 | $445,000 |
| Yishun Natura | Yishun Ring Road / Yishun | 9 | $445,000 |
| Fernvale Lea | Sengkang West Way / Sengkang | 28 | $451,444 |
Sengkang and Yishun are the most affordable HDB towns, for 4-room resale flats. Despite Singaporeans joking about Yishun’s strangeness, this town is underrated.
As many residents would tell you, Yishun is non-mature in name only. The revamp of Chong Pang Centre, along with improved transport infrastructure since 2015, means Yishun has as many amenities (and is almost as well-connected) as mature towns like Bedok.
Coupled with the low prices we’re seeing (the 4-room flats here are almost at BTO prices), Yishun has a strong appeal to first-time home buyers. However, realtors have told us that Cash Over Valuation (COV) has been creeping into Yishun flat prices since 2020, so do be prepared for prices that are $10,000 to $15,000 above valuation.
Cheapest MOP 5-room flats
The median price for these resale flats, as of Q1 2021, is estimated at $545,109.
| Development | Location / Town | Volume | Median Price |
| Sunshine Gardens | Choa Chu Kang Ave 5 / Choa Chu Kang | 21 | $540,000 |
| Rivervale Delta | Rivervale Crescent / Sengkang | 39 | $543,000 |
| Fernvale Lea | Sengkang West Way / Sengkang | 16 | $550,000 |
| Keat Hong Axis | Choa Chu Kang Ave 1 / Choa Chu Kang | 28 | $554,000 |
| Keat Hong Pride | Keat Hong Close / Choa Chu Kang | 9 | $560,000 |
If you want the biggest and newest possible resale flat, this is your answer. Sengkang and Choa Chu Kang are unrivalled in terms of affordability, if you don’t mind having fewer amenities. You should be prepared for a bit of extra time however, as the above projects would require an LRT ride to connect to the wider train network.
The big question on everyone’s mind: why hasn’t Punggol appeared on the list?
Although Punggol has the biggest number of “young” resale flats, it’s not the cheapest. With the advent of Waterway Point and the upcoming Punggol Digital District (PDD), demand is surging in this area.
In March this year, for example, Punggol broke the record for the highest transaction of a 5-room flat in a non-mature neighbourhood. This was a 5-room premium flat at Treelodge @ Punggol, which transacted at $910,000 (this flat was nine years old at the time, so it’s one of the young resale units).
According to word on the ground, realtors have given us another reason for Punggol’s pick-up: it’s downgraders. One realtor explained that: “East-siders don’t like to leave the east. A lot of retirees who downgrade from condos or 5-room flats in the east still want to live there; but with neighbourhoods like Marine Parade being so expensive, and even Bedok being quite mature and costly, the options tend to be Punggol or Pasir Ris. And Punggol has a lot of newer flats, the lease is long enough to be of value to their children also.”
Close to Waterway Point, which is the hub of the town, you can find resale flats in the six following projects (please see the full list for more)
| Development | 3-room | 4-room | 5-room |
| Waterway Brooks & Waterway Woodcress | $395,000 | $520,000 | $665,000 |
| Waterway Cascadia | $396,500 | $536,944 | $685,000 |
| Waterway Ridges | $375,000 | $488,000 | $642,500 |
| Waterway Sunbeam | $360,000 | $463,000 | $606,500 |
| Waterway Sundew | $375,000 | $479,000 | None available |
| Waterway Terraces | $397,500 | $525,000 | $682,944 |
| Waterway Terraces II | $386,500 | $525,000 | $647,500 |
While Punggol isn’t the cheapest place to find a young resale flat, it probably has the most abundant options right now. Just be ready to compete with a lot of buyers (which may include downgraders with rather deep pockets).
For more on new and resale housing options alike, follow us on Stacked; we also provide the most in-depth reviews for current property projects.
A shortlist sorted by one variable is a fast way to narrow your options, but the pick that's cheapest, biggest, or most convenient isn't always the one that fits your situation best.
If you'd like to discuss how this applies to your own circumstances, you can reach out for a one-to-one consultation here.
And if you simply have a question or want to share a thought, feel free to write to us at stories@stackedhomes.com. We read every message.
2 Comments
Hello StackedHome, I am a working adult in my mid-20s. Currently, I am facing a housing “crisis” with my fiancé. Prior to COVID, I have been keen on buying a resale unit as I never liked the idea of waiting 4 years for a BTO (especially, when one can bid up to one year and yet still secure a unit).
As we all already know, the HDB resale price has been hiking up. It’s shocking that in just one year, an unit can jump 100k in price.
I have been looking at resale units since 2019 but was not active as I was studying my final year then. Fast forward two years, I am now witnessing prices reaching a new peak. I am actively searching for a unit today and find it hard to secure one due to “unreasonable” pricing.
Many sellers would say “sell high to buy high” – I feel that this is such a twisted logic as I’m pretty sure they bought their unit at a fairly cheap price, hence, only first-time buyers like myself bear the brute of whole situation today.
Sorry for the rant. But all in all, I would like to ask:
Will the government have cooling measures to put HDB resale prices in place?
I am really stuck on whether I should just make a purchase ASAP in fears of rising prices OR should I just wait for a better opportunity.