How much to afford to buy a house in Naomi Neo’s neighbourhood

8 min read

Over the weekend, influencer Naomi Neo dropped a video tour of her new house — a three-storey detached house.

Back on 30 December last year, she shared a teaser of her new house, announcing that she’s moving in before the new year.


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A post shared by Naomi Neo 梁文珊 (@naomineo_)

Fast forward to three months later, and she’s revealed an inside look of the new home.

Like many netizens, we’re awed by her new house, from the floor-to-ceiling glass panels to the swimming pool.

Naomi Neo's new house
Naomi’s new house. Screenshot from Naomi Neo’s Youtube.

And like many netizens, we also wonder how much it costs.

naomi neo new house comment
Screenshot from Naomi Neo’s Youtube.

Naomi Neo’s new neighbourhood understands that Naomi’s new house is located in the Sunset Way area, which is located at the west of Holland Village and Bukit Timah.

While the Sunset Way subzone is part of Clementi and falls under the Outside of Central Region (OCR) market segment, residents here enjoy a city-fringe location.

For instance, the CBD and Orchard shopping belt are around a 20-minute drive away from the area (based on Google Maps estimates). The subzone is also pretty close to nature, with Bukit Timah Nature Reserve a seven-minute drive away.

Residents here are also within close proximity to a variety of schools, such as Pei Hwa Presbyterian Primary School, Nan Hua Primary School, Methodist Girls’ School, Ngee Ann Polytechnic, Singapore University of Social Sciences (SUSS) and SIM.

Meanwhile, the neighbourhood is known for its tranquility and privacy, especially since most of the houses here are landed properties. But it’s not exclusively a landed residential area; there are a few condos and HDB blocks here as well.

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Price trend of Sunset Way

Here’s a look at the price trends of homes in Sunset Way, segmented by the three main property types: HDB flat, condo and landed.

sunset way price trend

Over the past 10 years, all three types of properties here have seen double-digit price growths, some more than others. For instance, HDB flats here have seen a price appreciation of 14.89%, followed by landed homes at 24.79%.

Meanwhile, condos here have seen a whopping price increase of 75.61%! But this is mainly driven by the sale of Ki Residences At Brookvale, a new condo that launched in 2020. It’s expected to TOP in 2024.

How much to earn to afford a home in Sunset Way

Based on the data of average prices that has, we can estimate how much one needs to earn to afford a home (HDB, condo and landed) in Sunset Way.

Since we’re still in March and Sunset Way is a small area, there’s insufficient data from this year to base our estimates on. So we’ll be using average prices from 2022 instead.

(Disclaimer: These estimates are based on the average prices for the respective property types, which may be higher or lower than the actual prices. To find out if a property is within your means, we recommend you to calculate with’s affordability calculator based on the actual price.)

HDB flat

Based on Researcher, 24 HDB flats in Sunset Way changed hands in 2022. The average price of these flats was S$735,150.

Assuming you’re taking an HDB loan for 25 years, with a loan-to-value (LTV) ratio of 80% and an interest rate of 2.6%, this translates to a monthly instalment of S$2,668.

For HDB flats, the authorities stipulate that the maximum amount you can incur on the monthly instalments of a home loan is 30% of your monthly household income. This is also known as the mortgage servicing ratio (MSR). On top of that, there’s a stress-test rate of 3% to calculate this MSR.

Based on this, the estimated monthly household income to afford an HDB flat here is S$9,296.


Private condo

As mentioned earlier, a new launch condo that’s currently on the market at Sunset Way is Ki Residences At Brookvale. According to Researcher, 120 units were sold last year, at an average price of S$1,977,474.

With a bank loan for 25 years, an LTV ratio of 75% and an interest rate of 4%, this translates to a monthly instalment of S$7,828.

For private properties, the maximum amount you can incur monthly debt obligations is 55% of your monthly household income. For illustration purposes, let’s assume you don’t have any other loan obligations other than the home loan. This means you can max out the 55% total debt servicing ratio (TDSR).

To afford a new launch condo in Sunset Way, you’ll need an estimated monthly household income of S$14,233.

The amount is even higher for resale condos, since the average price last year was S$2,754,819.

Based on the same assumptions, this translates to a monthly instalment of S$10,906 and a monthly household income of S$19,829 (cries in poor).

Condos for sale in Sunset Way


Landed homes

For landed homes in Sunset Way, the average price last year was S$11,197,600.

With a bank loan and based on the same assumptions above, this will translate to a monthly instalment of an eye-watering S$44,329 and a whopping monthly household income of S$80,598! (cries in poor again)

Now, we don’t know how much Naomi and her family had spent on the house. What we know is that she got her keys in 2019, when the average price of landed homes in the area was lower at S$6,888,750.

naomi neo new house before it's torn down
Naomi’s new house before it’s torn down. Screenshot from Naomi Neo’s Youtube.

It’s good news for her and her family though, because while her house was under construction for three years, prices of homes in the area have increased by 62.55% to an average price of S$11,197,600 in 2022!


Planning to sell your house soon? Let us help you get a good price by connecting you with a premier property agent.

If you found this article helpful, recommends Here’s how much you need to earn to afford a condo (2023) and Want to Build-Your-Own Landed Property? Here’s What You Need to Know.

Looking to sell your property?

Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.

One easy way is to send us a request for a credible and trusted property consultant to reach out to you.

Alternatively, you can jump onto’s Property Value Tool to get an estimate for free.

If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal

Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.

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