For the price of a new launch two-bedder today – around $1.6 million to $1.8 million – you could have your choice of an HDB flat. Even a smaller condo unit is still priced lower than units at Pinnacle @ Duxton, SkyTerrace @ Dawson, etc. So in the current market, it’s not surprising that some families would upgrade to a bigger or better-located resale flat, rather than move to a condo. This week, we look at the various estates in Singapore where the price gap between condos and HDB flats is so big, it probably makes better sense to buy the flat:
Before diving into specific estates, let’s start with the big picture.
Over the past 10 years, the average price difference between non-landed private homes and HDB flats has widened by almost nine per cent:
| Year | Avg non-landed private property prices | Avg HDB prices | Price difference | % change |
| 2014 | $1,360,580 | $442,716 | $917,864 | |
| 2015 | $1,311,804 | $434,710 | $877,094 | -4.44% |
| 2016 | $1,353,678 | $438,839 | $914,839 | 4.30% |
| 2017 | $1,319,134 | $443,889 | $875,245 | -4.33% |
| 2018 | $1,329,382 | $441,282 | $888,100 | 1.47% |
| 2019 | $1,383,844 | $432,138 | $951,706 | 7.16% |
| 2020 | $1,312,358 | $452,279 | $860,079 | -9.63% |
| 2021 | $1,352,895 | $511,381 | $841,514 | -2.16% |
| 2022 | $1,444,002 | $549,714 | $894,287 | 6.27% |
| 2023 | $1,512,817 | $571,806 | $941,011 | 5.22% |
| 2024 | $1,611,611 | $612,600 | $999,011 | 6.16% |
| Price increase from 2014 to 2024 | 18.45% | 38.37% | 8.84% |
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