Singapore (EDGEPROP) – Five-room flats in Woodlands had the highest application rate during the latest Build-To-Order (BTO) exercise, which was launched earlier this month. At the time of writing, five-room flats in Woodlands still hold the highest subscription rate at 7.5. In contrast, three-room flats in Queenstown have the lowest subscription rate of 0.4.

Unsuccessful applicants for BTO flats in Woodlands might want to consider the resale market. We combed through the HDB sales listings in EdgeProp and found several five-room or larger flats in Woodlands that had asking prices of below $500 psf, which should satisfy buyers’ need to balance affordability with their desire for space.

Living large near Admiralty MRT Station

At the time of writing, there was a listing for an executive apartment at 658 Woodlands Ring Road with an asking price of $730,000 ($481 psf). The 1,517-sqft flat features four bedrooms and is conveniently located within walking distance of Admiralty MRT Station, Admiralty Wet Market and Food Centre, 888 Plaza, Woodlands Ring Primary School and Woodlands Ring Secondary School.

Read also: June 2024 BTO: Final BTO exercise before reclassification of HDBs

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Buyers with a more modest budget might consider a five-room flat at the nearby 661 Woodlands Ring Road. The 1,313 sq ft flat, with three bedrooms, has an asking price of $600,000 ($457 psf). Located beside Woodlands Ring Primary School, it may appeal to parents. However, it is further from Admiralty MRT Station.

A five-room flat with three bedrooms at 644 Woodlands Ring Road might offer buyers the best balance between affordability and connectivity. The 1,302-sq ft flat is within walking distance of Admiralty MRT Station and had an asking price of $650,000 ($499 psf), falling between the asking prices of the other two flats along Woodlands Ring Road. The tenure for all three flats along Woodlands Ring Road began in 1998.

Newer flats along Woodlands Drive 16

There was a listing for an executive apartment at 583 Woodlands Drive 16. The 1,410-sq ft flat, featuring four bedrooms, had an asking price of $700,000 ($496 psf). For buyers with a more modest budget, a 1,184-sq ft five-room flat at the neighbouring 580 Woodlands Drive 16 might be a suitable option. This five-room flat features three bedrooms and had an asking price of $550,000 ($465 psf). The tenure for both flats started in 2001.

The spacious flats are located within walking distance of Woodlands South MRT Station, which is just one stop away from the dual-line Woodlands MRT Station. Other nearby amenities include Vista Point, Christ Church Secondary School, and Woodgrove Secondary School.

Massive flat along Woodlands Street 83

Buyers with a large family may want to consider a 1,582-sq ft executive apartment at 865 Woodlands Street 83. This spacious flat features four bedrooms and is listed with an asking price of $770,000 ($487 psf). The tenure for the property began in 1996.

The main drawback of the flat is that it is not within walking distance of any MRT stations. The nearest station, Woodlands MRT Station, is approximately 800m away. However, this inconvenience could be mitigated by the flat's proximity to Evergreen Primary School and Woodlands North Plaza.

Read also: URA proposes new residential sites in Sengkang, Woodlands and Bukit Panjang, up to 14,000 new dwellings

Price trends for HDB flats in Woodlands

Since 2013, the overall average price for HDB flats in Woodlands has increased by 25%, reaching the current price of $490 psf. The price growth for five-room flats in Woodlands is in line with the overall average, growing by 26% to the current average price of $465 psf. Meanwhile, the average price for executive apartments has shown slightly stronger growth, increasing by 28% to the current average price of $494 psf.

It is noteworthy that the price appreciation for five-room flats and executive apartments in Woodlands surpasses the overall price growth for all types of HDB flats in the same town. Furthermore, the average price for executive apartments consistently ranks the highest, indicative of their strong appeal and limited supply. According to HDB’s latest annual report, there are only 6,191 executive apartments in Woodlands, constituting about 9% of the total stock of HDB flats in the town.

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