An Overview Of The Bedok Property Market In 2024: HDB Price Trends And Key Developments

Bedok is one of the most transformed parts of Singapore, between the post-independence generation and today. This area used to be a coastal town; the aptly named Bayshore was the literal shoreline before East Coast Parkway and Marine Parade came about. (If you know the venerable Hua Yu Wee restaurant, it used to be on the beach). 

Prior to the reclamation in the ‘60s, there used to be an annual Bedok-Siglap boat race, and most of the area was for fishing or agriculture. Chai Chee (vegetable market) was the main hub of commerce here for a time, whilst most of the planting, harvesting, etc. was in the Changi area. By the time the reclamation works were over, and Bedok New Town was completed in the ‘80s, it was almost impossible to corroborate the old pictures of Bedok (a lot of separate kampungs on the beach) to what it is now. 

Bedok today is a very large and varied area, which is difficult to generalise. Siglap and Frankel, for instance, are famed for expensive landed homes, whilst Bedok North and South are about as “heartland HDB” as you can get. Bedok Reservoir is famed for its greenery, while Bayshore is an entirely new estate being built right now. One part of Bedok can be very different from another, even if it’s technically in the same town.

Facts about Bedok

• District 16
• Eight sub-zones including Kaki Bukit, Bedok Reservoir, Kembangan, Bedok North and South, Frankel, Siglap, and the upcoming Bayshore estate. 
• Population of around 276,990 as of 2020, with a population density of around 10,300 people per square kilometre. This is higher than Singapore’s average of 8,358 per square kilometre.
• Approximate size of 21.7 sq. km.
• The first Plus model flats in Singapore will be introduced in Bayshore, in October 2024
• Albert Einstein has been in Bedok before, sometime in the 1920s, at the invitation of the Frankel family (after which the estate is named)

Primary Schools

• Bedok Green Primary School
• Damai Primary School
• Fengshan Primary School
• Opera Estate Primary School
• Red Swastika School
• St. Anthony’s Canossian Primary School
• St. Stephen’s School
• Temasek Primary School
• Yu Neng Primary School

Secondary Schools

• Anglican High School
• Bedok Green Secondary School
• Bedok South Secondary School
• Bedok View Secondary School
• Damai Secondary School
• Ping Yi Secondary School
• St. Anthony’s Canossian Secondary School
• Temasek Secondary School

Other Schools

• Temasek Junior College
• Singapore University of Technology and Design (SUTD)
• NPS International School

Malls

• Bedok Mall
• Bedok Point
• Djitsun Mall Bedok
• Bedok Shopping Complex
• East Village

Note that malls are also being planned for the upcoming Bayshore estate, but these have yet to be built at the time of writing.

MRT Stations

• Bedok (East West Line)
• Bedok North (Downtown Line)
• Bedok Reservoir (Downtown Line)
• Bayshore (Thomson East Coast Line)

Average flat prices

3-room flats

Bedok’s 3-room flats averaged $474 psf in 2012. As of 2024, the average is $546 psf. This is an ROI of 1.2 per cent.

4-room flats

Bedok’s 4-room flats averaged $451 psf in 2012. As of 2024, the average is $590 psf. This is an ROI of 2.25 per cent.

5-room flats

Bedok’s 5-room flats averaged $455 psf in 2014. As of 2024, this had risen to $581 psf. This is an ROI of 2.04 per cent.

Executive flats

Bedok’s executive flats averaged $432 psf in 2014. As of 2024, this had risen to $616 psf. This is an ROI of 3.01 per cent.

HDB flat prices by age in Bedok

Overall Non-Landed Private Residential Prices in Bedok

Private non-landed prices in Bedok, in 2014, averaged $1,132 psf. As of 2024, this had risen to $1,526 psf. 

Top 10 projects ranked by capital gain 

Bottom 10 projects ranked by capital gain 

Key drivers to note:

1. The new Bayshore estate will introduce Plus model flats with a sea view

The launch of these flats will be in October 2024. Plus model flats come with a 10-year instead of a five-year MOP, as well as a Subsidy Recovery (SR) for the first batch of sellers. Unlike regular flats, some eligibility requirements – such as an income ceiling – will still apply to resale buyers. 

The new flats will come with new amenities, including malls, park spaces, and other elements to create a new waterfront community. The Bayshore MRT station, to service this area, is already up and running. 

Bayshore has, up till now, been a private enclave with landed homes on one side (Lucky Heights) and three large condos (Bayshore, Bayshore Park, and Costa Del Sol) on the other. While previously inaccessible, it was prized precisely because of its quiet seclusion and quick access to East Coast Park.

Among the condo owners here, responses to the new HDB estate have been ambivalent. Some feel it will disrupt the peace and draw crowds, particularly adding to the packed East Coast beach on weekends. Others, however, feel the introduction of malls, the new MRT station, and other such amenities were badly needed, given how “ulu” the location has been for decades.

Because everything involved is so new, it’s anyone’s guess how things will pan out. 

2. Bedok Stadium may be redeveloped into a new community hub

The government has been probing possibilities over the ageing Bedok Stadium. As you may have noticed in other areas, the trend today is not to build a specialised stadium that’s only for sports: as with the Sports Hub or Bukit Canberra, the stadiums now tend to encompass other elements like retail, dining, community event spaces, etc. 

(This just makes sense as we want to maximise land use, and stadiums are pricey to maintain without these revenue-generating elements.)

If the stadium is redeveloped, this could significantly boost home prices in the Bedok North and South areas, particularly around Avenue 2. It might also help the condos in the Tanah Merah area, which aren’t too far away.

3. There’s a new hospital coming up in Bedok

Whether hospitals are an amenity or disamenity is subjective; but we’d lean toward it being a good thing for Bedok, as the population is ageing. The new and very creatively named Eastern General Hospital (EGH) is being built next to Bedok North MRT station. It should be up and ready by 2030.

Coupled with the polyclinic at Heartbeat, and the existing Changi General Hospital (CGH), it’s quite easy to read the signs: Bedok has a very large residential population, and it needs to be more ready to deal with ageing issues in the coming decades. 

As an aside, landlords tend to like having hospitals nearby, as they tend to have large foreign workforces and hence a big pool of potential tenants.

Overall, Bedok is a very large and varied area, and it is remarkable how much it changes when you drift from one subzone to another; even the transition from Bayshore to Bedok North can feel like you’re entering a whole new town, even though they’re so close. But the universal element is the high emphasis on residential living: wherever you are in Bedok, there always seems to be a school, clinic, coffee shop, or whatever you need right around the corner. It may not be the most exciting or glamorous neighbourhood, but it’s one of the most established – and it has a wide range of housing options, at prices for all demographics.