Where To Find The Cheapest Maisonette And Executive HDB Flats In 2024 (From $585,000)

For bigger families looking for more space and can’t quite afford to make the jump to private, an HDB Maisonette or Executive flat is the only viable option. It’s been a long time since these flats were built though, and the official answer from MND is that there aren’t any plans to introduce such type of homes again. 

As such, despite the older ages of these flats, the demand since the pandemic remains high. So how have their prices fared in recent times, especially in the wake of COVID-19 since 2023? Let’s have a look:

First, a look at Maisonette and Executive HDB flat price movements over 2023

Non-Mature Estates

The first half of 2023 saw a general uptrend in prices across non-mature estates, with notable increases in Jurong East and Sembawang, highlighting a 6.1% and 6.5% price hike respectively. Interestingly, Yishun experienced a 5.2% decrease, presenting a potential opportunity for those on a tighter budget to look at it more closely. 

Mature Estates

Mature estates showcased a mixed bag of results. Ang Mo Kio led the pack with a significant 9.3% increase, underscoring its continued desirability. Conversely, Queenstown witnessed a surprising 17.6% dip, but we would take this with a pinch of salt given how few transactions have been recorded. In 2023, there were just 7 transactions in total – of which 2 were $1.2 million transactions at Mei Ling Street. 

Now, on to where we found the cheapest flats

Naturally, age plays a significant role in the prices of flats, as opting for the lowest-priced options may lead one to consider the oldest properties available. However, such choices may not suit all buyers, particularly due to potential restrictions on CPF usage if the lease doesn’t extend until the youngest borrower is 95 years old. As such, we’ve categorised the tables based on the age of the flats to offer a broader perspective.

Moreover, while HDB has moved away from the traditional mature and non-mature estate distinctions, we maintain this classification in our breakdown. This decision is rooted in the understanding that many Singaporeans still use these categories as a benchmark to assess and compare different neighbourhoods.

Let’s start with non-mature HDB towns

Non-mature flats between 11 to 20 years old

Non-mature flats between 21 to 30 years old

Non-mature flats more than 30 years old

Overall, the cheapest non-mature towns for Executive HDB flats are in Punggol, where they are all located at Punggol Central. These flats are not the closest located to Punggol MRT or Waterway Point in terms of walking distance, but are a short and easy bus or LRT ride away. 

Prices have ranged from $680,000 to $780,000 in this block of flats, and for their larger size of 1,378 sq. ft., you don’t have too many options if you are looking for something newer anyway. 

As you reach the older age range of 21 to 30 years old, your options start to open up. The cheapest on this list would be the ones at Jurong West Street 25 at $585,000, and they are a slightly smaller size of 1,356 sq. ft. It’s a similar scenario to what we’ve found for 5-room HDB flats, as besides Woodlands, Jurong West represented the cheapest option. This would be an option for buyers who prioritise size over everything else, as the immediate options for MRT travel aren’t great. That said, once the Jurong Region Line is up, Jurong West or Bahar Junction MRT station would probably be the closest location. 

For those looking at even larger living spaces, the flats at Sembawang would be the next best bet. These are at a sizeable 1,475 sq. ft., and despite the proximity to the industrial estate across Sungei Sembawang, the convenience of being within walking distance to Sembawang MRT and Sun Plaza may significantly enhance the appeal of this location.

For flats 30 years old and above, the most affordable option is located at Yishun. This is an even bigger flat of size 1,572 sq. ft. that was transacted at $600,000. The benefit of this location is that it is close to Yishun Park, but given that it is some distance away from Yishun MRT and Northpoint means that it isn’t for those who prize ultimate convenience. 

If you are looking at a Maisonette option instead, the next cheapest alternative on the list would be Jurong West (again). Located at Jurong West Street 42, this is a Maisonette sized at 1,615 sq. ft. Like most of the bigger Jurong West options, it isn’t near an MRT currently although you could walk to Corporation MRT on the Jurong Region Line once it is up.

Mature flats between 21 to 30 years old

Mature flats more than 30 years old

As for the mature estates, you won’t be able to find one that is between 11 to 20 years old (at least, that was recently transacted). 

As you might expect, to get an HDB flat of such sizes in a mature town, you won’t be able to find any priced under $700,000. The cheapest so far has been located in Pasir Ris, where you can get sizes of 1,561 sq. ft. It is a decent location as you are close to Loyang Point, a neighbourhood mall in which you can find supermarket options such as Giant and Sheng Siong, as well as the usual food outlets. However, it is currently not near any MRT station, but the arrival of the Cross Island Line (Pasir Ris East MRT Station) will make up for it as it would almost be at your doorstep. 

Finally, for flats that are above 30 years old, you’ll find that it is in the same circles of Pasir Ris (Pasir Ris Street 21) to be exact. Besides that, Tampines and Bedok are two other locations that come with prices below $800,000, and the ones at Bedok are some of the biggest that you’ll find at 1,615 sq. ft. Some people may find this location to be more palatable if they can’t wait for the new MRT lines to be up as it is within walking distance to Kaki Bukit on the Downtown line. 

For more on the Singapore property market, follow us on Stacked. You can also check out reviews of new and resale properties alike. If you’d like to get in touch for a more in-depth consultation, you can do so here.