What S$500,000 can get you in the Top 5 HDB towns with the highest average price psf appreciation

10 min read

If you’re looking to strike a good balance between a forever home and one with decent price appreciation, this article gives you the top 5 best HDB towns. 

In this list, we look at HDB towns with the highest price comparison over the past decade, from 1 Jan 2011 to 09 May 2022.

Top 5 HDB towns with the highest average price psf appreciation

  1. Bukit Timah 37.09%
  2. Kallang/Whampoa 35%
  3. Central 33.96%
  4. Clementi 29.52%
  5. Choa Chu Kang 27.14%

1. Bukit Timah 

The hottest HDB town is, without a doubt, Bukit Timah, which has enjoyed a run-up in the price appreciation of S$497 average price psf in 2011 to S$681 in 2022. 

Average price psf: S$497 in 2011 to S$681 in 2022.

While many luxury apartments are available in Bukit Timah, the HDB apartments for sale below S$500,000 are few and far between. It’s expected, with only 2,555 flats and 8,400 residents residing within the town. 

At the point of writing, there’s only one unit up for purchase. 

18 Toh Yi Drive

• District 22
• 3-room flat
• 684 sqft
• S$498,000 / S$728 psf
• Built year: 1989

This flat at 18 Toh Yi Drive comes furnished with a smart home system, so you have complete control of all switches and appliances in the unit with just one push of a button. 

The location is highly accessible, a mere four-minute walk away from the Beauty World MRT station. 

It’s a 12-minute walk to FairPrice Finest at Bukit Timah Plaza for groceries and daily amenities or a five-minute walk to Bukit Timah Market & Food Centre if you’re not in the mood to whip up a meal. 

For parents looking at primary schools in the vicinity, Pei Hwa Presbyterian Primary is 500 metres away.  

The next HDB for sale is priced at S$635,000 (S$567 psf) for a 4-room unit with a generous size of 1,119 sqft, which might be more value for money if you’re looking to live in the Bukit Timah area and have a bigger budget. 


2. Kallang/Whampoa

One of Singapore’s oldest housing estates, Kallang/Whampoa, has an estimated 106,900 residents and 39,194 flats in the district and a wider range of HDB flats to choose from. 

Average price psf: S$497 in 2011 to S$671 in 2022.

106 Jalan Dusun

• District 12
• 4-room flat
• 1,001 sqft
• S$500,000 / S$499 psf
• Built year: 1981

Currently, this unit at 106 Jalan Dusun is the largest apartment available that’s right at the half-million-dollar mark. 

The mid-floor unit with a relaxing canal view is in original condition and offers the perfect blank slate for those looking to build their dream home from the ground up. 

The nearest schools are CHIJ Primary School (Toa Payoh) (a 9-minute walk), Kheng Cheng School (a 10-minute drive) and St. Joseph’s Institution Junior (an 8-minute drive). 

One drawback is the distance to the nearest MRT – the Toa Payoh MRT and Novena MRT stations are a lengthy 14 to 17-minute walk away, which can be shortened by taking a ten-minute bus ride. 

At Novena MRT, you can find major malls such as Velocity @ Novena Square, Square 2 and Royal Square Novena. 

Alternatively, if you’re looking for a move-in ready unit, this 3-room flat at Upper Boon Keng Road is tastefully renovated. 

15 Upper Boon Keng Road

• District 14
• 3-room flat
• 947 sqft
• S$500,000 / S$528 psf
• Built year: 1975

The MRT station is slightly more accessible, with Kallang MRT being a ten-minute walk away. Those who drive will hit the KPE in four minutes via Sims Avenue. 


3. Central

Mention Central Singapore, and one particular HDB immediately jumps to mind – Pinnacle @ Duxton, commanding sky-high views at sky-high prices.

Average price psf: S$572 in 2011 to S$766 in 2022.

However, you can still find some hidden gems without paying through the nose. 

663 Buffalo Road

• District 8
• 3-room flat
• 914 sqft
• S$500,000 / S$547 psf
• Built year: 1982

This particular unit is incredibly accessible, being a stone’s throw away (200 metres) from the Little India MRT station or a seven-minute walk to the Jalan Besar MRT station. 

Newly renovated Tekka Place is a mere three-minute stroll away, where you can immerse yourself in the rich heritage of Little India. Tekka Centre is right outside your doorstep, giving you access to fresh produce and a food court and various stores that are bursting with sights and sounds to delight your senses. 

There’s a handful of primary schools in the vicinity, with St. Margaret’s Primary (554 metres), Stamford Primary School (708 metres) and Farrer Park Primary (744 metres) all within a 1km radius. 

However, it’s completely bare and lacks any sort of furnishings whatsoever, so be sure to bear renovation costs in mind when considering purchasing it. 


4. Clementi

Bordering Bukit Timah to the northeast and Queenstown to the east, the mature estate of Clementi is also one of Singapore’s earliest HDB towns. 

Average price psf: S$480 in 2011 to S$622 in 2022.

610 Clementi West Street 1

• District 5
• 3-room flat
• 797 sqft
• S$350,000 / S$439 psf
• Built year: 1983

Located right beside West Coat Plaza, this HDB corner unit is an attractive option for those who don’t mind taking on the challenge of tackling a unit with a quirky layout. 

With the reasonable price, there’s plenty of room left for renovations. 

While there aren’t any primary schools within 1km, there are many secondary schools within an eight-minute walking distance, so it would be better suited for families with older children. 

NUS High School of Mathematics & Science: 194 metres (3-minute walk)
Nan Hua High School: 393 metres (6-minute walk)
Kent Ridge Secondary School: 564 metres (8-minute walk)

Clementi Woods Park is just half a kilometre away, ideal for nature lovers who enjoy getting their daily exercise amongst relaxing greenery. 

However, note that the nearest MRT station isn’t within walkable distance. You would need to take a 13-minute bus ride to get to Clementi MRT station.  


5. Choa Chu Kang

Rounding up the list is Choa Chu Kang, with an estimated resident population of almost 170,000 people living in 48,900 flats. 

Admittedly, finding Choa Chu Kang on the list was surprising because it beat out more popular neighbourhoods such as Bishan (26.89% average price psf appreciation) and Queenstown (25.14% average price psf appreciation). 

Average price psf: S$358 in 2011 to S$456 in 2022.

Derived from the Teochew dialect, the town was named after plantation owners known as Kangchu, with ‘Kang’ meaning river and ‘Chu’ being the clan name of the first headman in charge of the plantations. 

Although it’s come a long way from the old attar houses and kampungs that dominated the district, Choa Chu Kang is still a relatively sleepy town. And I can attest to that because I’ve lived in it for the majority of my life. 

However, there’s no denying that the estate is pretty peaceful, especially on balmy weekends. 

685B Choa Chu Kang Crescent

• District 23
• 5-room flat
• 1,183 sqft
• S$450,000 / S$380 psf
• Built year: 2002

Looking at the rest of the neighbourhoods, units in Choa Chu Kang can provide potential buyers with an attractive combination of a low price psf with ample living space.  

This cheery corner unit has the lowest price psf out of all the units we’ve surveyed. It’s also the biggest and newest, which is great if you’re looking for a relatively low lease decay family home.  

Looking at the pictures, the unit is in excellent condition, with nicely renovated bathrooms. Slap on a fresh coat of paint, and it’ll look just like a brand new house. 

Yew Tee MRT is a straight 10-minute walk away, where you can find many amenities at the NTUC Fairprice in YewTee Point. 

The nearest primary schools are Unity Primary (174 metres) and Yew Tee Primary (826 metres). Unity Secondary is 504 metres away. PCF Sparkletots Preschool is just a six-minute walk away, at 690D Choa Chu Kang Crescent. 


Interested in more HDB towns with decent price psf appreciation? Let us know in the comments section below or on our Facebook post.

If you found this article helpful, check out Which HDB towns have seen the biggest rise in flat values? and HDB town Tengah to be car-free, set in greenery.

Looking for a property? Find the home of your dreams today on Singapore’s fastest-growing property portal 99.co! If you would like to estimate the potential value of your property, check out 99.co’s Property Value Tool for free. Also, don’t forget to join our Facebook community page or Telegram chat group! Meanwhile, if you have an interesting property-related story to share with us, drop us a message  — and we’ll review it and get back to you.

About Jamie Wong

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 99.co’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 99.co.

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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