Singapore Property Scene Discussion

[therock]

On 3/19/2025 at 7:03 AM, Windwaver said:

Interesting article 

https://stackedhomes.com/editorial/do-high-floor-hdb-flats-appreciate-more-in-value-the-data-may-surprise-you

Do High-Floor HDB Flats Appreciate More In Value? The Data May Surprise You

One common perception about HDB flats is that higher floors command a premium – often due to the view or privacy. However, HDB dwellers can be a practical bunch: in our interactions with homeowners and readers, many cite the hassle of long lift rides, or they feel top-floor living can be isolating. At the same time, we also know that many buyers do still chase units on higher floors.

Given these competing perspectives, we decided it’s high time we did a deep dive. However, we recognise some limitations when it comes to the data – while flats seem to be homogeneous due to their similarities, they can vary significantly in terms of location, age, amenities, views and so on.

As such, we narrowed our focus to HDB flats that were 10 to 19 years old, and looked at their price growth between 2020 and 2024. Flats between 10 to 19 years had a good mix of strong transaction volume and flats that were built over 30 storeys (such as Pinnacle @ Duxton).

We also broke down the data by flat type (3-room, 4-room, and 5-room) and by estate, as some towns have more high-floor options than others. This way, we could isolate the floor-level impact more effectively while ensuring as fair a comparison as possible.

Disclaimer:

• We only covered flats with enough resale transaction data in each estate-floor-type combination. As a result, some data points are missing where transactions were minimal or didn’t exist.
• The results are also time-specific (2020–2024). If market conditions shift drastically, the floor premium (or lack thereof) could change.
• Other factors – like orientation, remaining lease beyond the 10- to 19-year mark, or block-specific features – can overshadow the effect of being on a high floor. This is hard to account for due to the vast amount of flats available.

That said, here’s what we uncovered (skip to the picture graphs to see the patterns unless you’re interested in the actual growth numbers)

For 3-room flats, there is sometimes strong price growth for higher-floor units in non-mature estates. Towns like Punggol, Sengkang, Choa Chu Kang, Pasir Ris, and Woodlands show they can sometimes exceed 40 per cent price growth, with some even going past 50 per cent. 

Older “hot spots” like Clementi, Queenstown, Bukit Merah, and Kallang/Whampoa show more inconsistent patterns, with some high gains but also some weaker growth below 20 per cent. 

An anomaly here is Jurong West, which shows only 2.42 per cent appreciation in the 19 – 21 floor height band. This is a one-off outlier, caused by the lack of transaction volumes.

Non-mature towns like Sengkang, Punggol, and Choa Chu Kang had some examples of appreciation among upper floors, often exceeding 40 per cent. 

For Hougang and Bukit Panjang flats, there are some strong spikes in price for mid-floor flats (e.g., 16 – 24), which may be even higher than upper-floor units.

Bishan has sharp price spikes that can see over 60 per cent appreciation, but Ang Mo Kio has extreme variations – some flats exceed 50 per cent growth whilst others are below 10 per cent. Queenstown and Clementi have erratic movements too, with some mid-floor units outperforming high floors.

Observations and conclusions:

Across various estates for 3-room flats, the data shows no universal rule that higher floors always have stronger gains.

For instance, in Punggol, 3-room units on the ground floor have outperformed nearly all other floors in terms of growth, suggesting that some buyers continue to prize accessibility and affordability over lofty views.

Meanwhile, Sembawang shows the highest appreciation closer to the 20th-storey range, surpassing both the lower and the very top levels. Over in Hougang, the 16th-storey band leads the pack, overshadowing not just the lower floors but also the highest ones. In Kallang/Whampoa, it’s around the 22nd floor that garners the best appreciation, again demonstrating a mid-to-high preference for that estate.

By contrast, Woodlands appears to reward those in the 4th to 7th storey range, with these floors sometimes outdoing the top floors. Geylang shows a similar pattern, where the 4th to 7th-storey band records some of the most substantial gains.

Overall, this demonstrates that local estate factors tend to matter more than floor height alone. In one town, convenience and lower cost may drive demand for ground-floor units; in another, mid-level or near-top floors might attract buyers looking for a balance between accessibility and better views. We also need to consider ongoing changes, such as the construction of a new project that impedes a previously unblocked view. 

Factors like block design, demographics (e.g., retirees right-sizing), and local amenities are likely at play – underscoring how difficult it is to generalise about “best” floors for 3-room flats across all of Singapore.

4-room flats also showed mixed signals, with some cases of higher growth on mid/high floors

For 4-room units, the picture remains varied. Some estates (e.g., Jurong West) showed lower floors (1 to 3) outpacing higher floors in resale growth, suggesting budget-conscious buyers are still drawn to the more affordable ground-level or mid-level units.

In Woodlands, however, there’s a clear mid-floor advantage, with those floors generating stronger appreciation than both the lowest and highest units; while in Sembawang, it’s the lower-mid floors that lead the pack. Elsewhere (like Sengkang), the difference between lower and higher floors was relatively modest – about 40 to 45 per cent growth across most storey ranges—indicating the entire town is in demand.

Overall, 4-room flats are the most common flat type, and the mixed data suggests both affordability and lifestyle preferences drive demand – hence no simple “go for the top floor” or “always buy the cheaper low floor” guidance here.

5-room flats show even greater variation, but high floors shine in certain estates

Among 5-room flats (10–19 years old), we observed that Bishan had some of the highest recorded gains at the lower floors (1–3) yet also notably high appreciation at selected mid-to-upper floors (like 31–33). This points to strong overall demand for larger flats in a prime, city-fringe location, regardless of floor.

Woodlands showed robust gains across many floors, but interestingly, the middle floors (8 to 10) sometimes outperformed the bottom or top.

In some newly popular areas (e.g., certain segments of Punggol or Sengkang), data indicated steady gains across the board, with a slight tilt toward upper floors.

Among this segment, we see that larger families or upgraders typically have bigger budgets, and are often more willing to pay for premium traits. However, the preference for a truly high floor is not universal. Some buyers prefer easy lift access or proximity to ground-level amenities, especially if they have mobility concerns or young children.   

What could explain such variations?

Two main reasons come to mind:

Estate and Block-Specific Demand

Where location and amenities are prime (e.g., mature, centrally located towns), any floor can achieve strong appreciation. Factors like MRT proximity or a popular school can outweigh the difference between a 5th-floor vs. a 20th-floor view. 

It’s also worth noting that in some specific blocks, being on the ground floor is more of a drawback than others. For example: blocks that face out to the car park on the ground floor, are close to the dumping area or very noisy coffee shops, may have more noise and pest problems. In contrast, a flat could be on a lower floor but far from any of these, so the drawbacks are not too significant. 

Affordability vs. Premium

Especially for 3-room and 4-room flats, there’s clear evidence that an affordability-first mindset keeps lower floors popular – some buyers simply aren’t willing to pay more for higher floors if it strains their budget. Lower floor units tend to be more affordable and thus have a larger pool of buyers. With prices heading up, these lower-priced units would be seen more favourably.

Ultimately, there’s no linear, consistent relationship between top and bottom floors and appreciation. For 10 to 19-year-old HDB flats between 2020 and 2024, our data shows no blanket rule that higher floors automatically command higher gains. In fact, many estates exhibit strong low-floor performance, and in others, mid-level floors even outperform top floors.

Rather than floor height, look beyond factors like the location, amenities, block orientation, and buyer demographics. Several unit-specific details, like the state of maintenance or renovations, can also play a bigger part in the eventual price. 

Interesting article, but location is the variable that can change the equation. Eg those units close to a dump, or no view, vs those close to another development such that only the higher floors have a view.

Take The Reserve for example, it is very close to the new development so the lower floors on both condos will block one another. Only if you get above say 25th floor then you can see the B Timah Reserve..

[Ginyu]

On 3/19/2025 at 7:56 AM, Spidey10 said:

last night just read some flash reports out from the US....US economy like not looking good down the road...as they said, big brother sneeze, everyone gets a chill....

Sitting at the beach ⛱️ and watch who swimming naked. However one of the local bank economist say we at this part of the world are getting less reliant on the US as the major trading partner. Still have BRCIS so  even US down, unlikely to be dented🤣

[inlinesix]

On 3/19/2025 at 7:16 AM, Wt_know said:

location location location

so-so quality at CCR vs good quality at Tengah … 

which one you want? lol

no need rocket scientist to figure out which project would attract 20X 30X over-subscribe to try their luck EVEN they dont want to stay there in the first place

once kena BTO = kena TOTO 

My fren bought 5 room in Bidadari.
BTO $600+k.

After MOP, no $1.5m no talk for high floors.

[Spidey10]

On 3/19/2025 at 7:57 AM, Wt_know said:

ah gong said people like to work until 65 leh … 

ah gong say u also believe ahhh....take it with a load of salt lah...

who wanna work unless is absolutely necessary? I think they did a survey and confirm chop already that pple dun wanna work till old age unless is necessary!

Say like that so that pple all busy with work and no time to think about how the Ah Gong mess up certain things..

[13177]

On 3/19/2025 at 12:15 AM, Throttle2 said:

My wife.  
she stopped work after our second child becos we thought it was better she looked after our children

Nowadays default 'throw' their kids to childcare while both parents working. If some are lucky, in-law or parents would help to take care. Lol.

[13177]

On 3/19/2025 at 7:57 AM, Wt_know said:

ah gong said people like to work until 65 leh … 

Work until 65 only? Many work until 70s. 

[13177]

On 3/19/2025 at 8:08 AM, Mkl22 said:

There are certain areas of SG that I ban myself from ever buying. 
one obvious area for me is the north west side. Bukit Panjang, yew tee and obviously tengah. No matter how good, no no for me. 

Why ah? Looks like these area you mentioned indeed quite not popular. Many don't like to stay there.

Edited March 19 by 13177

[Spidey10]

On 3/19/2025 at 8:16 AM, Ginyu said:

Sitting at the beach ⛱️ and watch who swimming naked. However one of the local bank economist say we at this part of the world are getting less reliant on the US as the major trading partner. Still have BRCIS so  even US down, unlikely to be dented🤣

waaahhh...enjoying ah..

i think it depends on which trading partner...say Msia, Indon or Th..might not be that bad if big brother catches a cold....but SG, I am not too sure.

Unless we have really decouple from US and China and deal more with SEA countries and Pacific, else we will definitely catch the cold...

but not to worry....we have voucherman to give out voucher...

[13177]

On 3/19/2025 at 8:03 AM, Spidey10 said:

i think is important to do some homework....dun buy into the wrong project! i saw the disparity as well when I went with a fren to see some apartments i n red hill area...the disparity is huge, but the development is just less than 100m apart....i was what the #$%!

so not all projects makes money ah...

Nowadays most housing, whether it is HDB or private, all very close to each other. 

[Ginyu]

On 3/19/2025 at 7:57 AM, Wt_know said:

ah gong said people like to work until 65 leh … 

Employers say then you pay their salary till 65 lor. Their salary can get us  few younger FTs or invest in AI to increase productivity.  We don't want a dead weight 🤣

Edited March 19 by Ginyu

[Spidey10]

On 3/19/2025 at 8:17 AM, inlinesix said:

My fren bought 5 room in Bidadari.
BTO $600+k.

After MOP, no $1.5m no talk for high floors.

strike Toto...

sell and buy 2.5 mil condo lah...lppl...

do u think if buy $2.5 mil got potential to get 150% ROI? 

Edited March 19 by Spidey10

[Spidey10]

On 3/19/2025 at 8:27 AM, 13177 said:

Nowadays most housing, whether it is HDB or private, all very close to each other. 

yes, that's why need to do some homework else buy sala project, and think can make $1 mil but turn out to lose $1 mil..

[13177]

On 3/19/2025 at 7:03 AM, Windwaver said:

Interesting article 

https://stackedhomes.com/editorial/do-high-floor-hdb-flats-appreciate-more-in-value-the-data-may-surprise-you

Do High-Floor HDB Flats Appreciate More In Value? The Data May Surprise You

One common perception about HDB flats is that higher floors command a premium – often due to the view or privacy. However, HDB dwellers can be a practical bunch: in our interactions with homeowners and readers, many cite the hassle of long lift rides, or they feel top-floor living can be isolating. At the same time, we also know that many buyers do still chase units on higher floors.

Given these competing perspectives, we decided it’s high time we did a deep dive. However, we recognise some limitations when it comes to the data – while flats seem to be homogeneous due to their similarities, they can vary significantly in terms of location, age, amenities, views and so on.

As such, we narrowed our focus to HDB flats that were 10 to 19 years old, and looked at their price growth between 2020 and 2024. Flats between 10 to 19 years had a good mix of strong transaction volume and flats that were built over 30 storeys (such as Pinnacle @ Duxton).

We also broke down the data by flat type (3-room, 4-room, and 5-room) and by estate, as some towns have more high-floor options than others. This way, we could isolate the floor-level impact more effectively while ensuring as fair a comparison as possible.

Disclaimer:

• We only covered flats with enough resale transaction data in each estate-floor-type combination. As a result, some data points are missing where transactions were minimal or didn’t exist.
• The results are also time-specific (2020–2024). If market conditions shift drastically, the floor premium (or lack thereof) could change.
• Other factors – like orientation, remaining lease beyond the 10- to 19-year mark, or block-specific features – can overshadow the effect of being on a high floor. This is hard to account for due to the vast amount of flats available.

That said, here’s what we uncovered (skip to the picture graphs to see the patterns unless you’re interested in the actual growth numbers)

For 3-room flats, there is sometimes strong price growth for higher-floor units in non-mature estates. Towns like Punggol, Sengkang, Choa Chu Kang, Pasir Ris, and Woodlands show they can sometimes exceed 40 per cent price growth, with some even going past 50 per cent. 

Older “hot spots” like Clementi, Queenstown, Bukit Merah, and Kallang/Whampoa show more inconsistent patterns, with some high gains but also some weaker growth below 20 per cent. 

An anomaly here is Jurong West, which shows only 2.42 per cent appreciation in the 19 – 21 floor height band. This is a one-off outlier, caused by the lack of transaction volumes.

Non-mature towns like Sengkang, Punggol, and Choa Chu Kang had some examples of appreciation among upper floors, often exceeding 40 per cent. 

For Hougang and Bukit Panjang flats, there are some strong spikes in price for mid-floor flats (e.g., 16 – 24), which may be even higher than upper-floor units.

Bishan has sharp price spikes that can see over 60 per cent appreciation, but Ang Mo Kio has extreme variations – some flats exceed 50 per cent growth whilst others are below 10 per cent. Queenstown and Clementi have erratic movements too, with some mid-floor units outperforming high floors.

Observations and conclusions:

Across various estates for 3-room flats, the data shows no universal rule that higher floors always have stronger gains.

For instance, in Punggol, 3-room units on the ground floor have outperformed nearly all other floors in terms of growth, suggesting that some buyers continue to prize accessibility and affordability over lofty views.

Meanwhile, Sembawang shows the highest appreciation closer to the 20th-storey range, surpassing both the lower and the very top levels. Over in Hougang, the 16th-storey band leads the pack, overshadowing not just the lower floors but also the highest ones. In Kallang/Whampoa, it’s around the 22nd floor that garners the best appreciation, again demonstrating a mid-to-high preference for that estate.

By contrast, Woodlands appears to reward those in the 4th to 7th storey range, with these floors sometimes outdoing the top floors. Geylang shows a similar pattern, where the 4th to 7th-storey band records some of the most substantial gains.

Overall, this demonstrates that local estate factors tend to matter more than floor height alone. In one town, convenience and lower cost may drive demand for ground-floor units; in another, mid-level or near-top floors might attract buyers looking for a balance between accessibility and better views. We also need to consider ongoing changes, such as the construction of a new project that impedes a previously unblocked view. 

Factors like block design, demographics (e.g., retirees right-sizing), and local amenities are likely at play – underscoring how difficult it is to generalise about “best” floors for 3-room flats across all of Singapore.

4-room flats also showed mixed signals, with some cases of higher growth on mid/high floors

For 4-room units, the picture remains varied. Some estates (e.g., Jurong West) showed lower floors (1 to 3) outpacing higher floors in resale growth, suggesting budget-conscious buyers are still drawn to the more affordable ground-level or mid-level units.

In Woodlands, however, there’s a clear mid-floor advantage, with those floors generating stronger appreciation than both the lowest and highest units; while in Sembawang, it’s the lower-mid floors that lead the pack. Elsewhere (like Sengkang), the difference between lower and higher floors was relatively modest – about 40 to 45 per cent growth across most storey ranges—indicating the entire town is in demand.

Overall, 4-room flats are the most common flat type, and the mixed data suggests both affordability and lifestyle preferences drive demand – hence no simple “go for the top floor” or “always buy the cheaper low floor” guidance here.

5-room flats show even greater variation, but high floors shine in certain estates

Among 5-room flats (10–19 years old), we observed that Bishan had some of the highest recorded gains at the lower floors (1–3) yet also notably high appreciation at selected mid-to-upper floors (like 31–33). This points to strong overall demand for larger flats in a prime, city-fringe location, regardless of floor.

Woodlands showed robust gains across many floors, but interestingly, the middle floors (8 to 10) sometimes outperformed the bottom or top.

In some newly popular areas (e.g., certain segments of Punggol or Sengkang), data indicated steady gains across the board, with a slight tilt toward upper floors.

Among this segment, we see that larger families or upgraders typically have bigger budgets, and are often more willing to pay for premium traits. However, the preference for a truly high floor is not universal. Some buyers prefer easy lift access or proximity to ground-level amenities, especially if they have mobility concerns or young children.   

What could explain such variations?

Two main reasons come to mind:

Estate and Block-Specific Demand

Where location and amenities are prime (e.g., mature, centrally located towns), any floor can achieve strong appreciation. Factors like MRT proximity or atop-floor living can be isolating

It’s also worth noting that in some specific blocks, being on the ground floor is more of a drawback than others. For example: blocks that face out to the car park on the ground floor, are close to the dumping area or very noisy coffee shops, may have more noise and pest problems. In contrast, a flat could be on a lower floor but far from any of these, so the drawbacks are not too significant. 

Affordability vs. Premium

Especially for 3-room and 4-room flats, there’s clear evidence that an affordability-first mindset keeps lower floors popular – some buyers simply aren’t willing to pay more for higher floors if it strains their budget. Lower floor units tend to be more affordable and thus have a larger pool of buyers. With prices heading up, these lower-priced units would be seen more favourably.

Ultimately, there’s no linear, consistent relationship between top and bottom floors and appreciation. For 10 to 19-year-old HDB flats between 2020 and 2024, our data shows no blanket rule that higher floors automatically command higher gains. In fact, many estates exhibit strong low-floor performance, and in others, mid-level floors even outperform top floors.

Rather than floor height, look beyond factors like the location, amenities, block orientation, and buyer demographics. Several unit-specific details, like the state of maintenance or renovations, can also play a bigger part in the eventual price. 

Top-floor living can be isolating? Must depends on which level of top floor lo. If your top floor is less than 20 storey, i do not think it is isolating at all. Only might feel isolating if you stay 25 storey and above. Esp those 35-49 storey. Actually staying too high floor no good when using the lift, it basically stop many many floor before reaching your level during peak hours, super irritating and waste time.

Edited March 19 by 13177

[Mkl22]

On 3/19/2025 at 8:32 AM, 13177 said:

Top-floor living can be isolating? Must depends on which level of top floor lo. If your top floor is less than 20 storey, i do not think it is isolating at all. Only might feel isolating if you stay 25 storey and above. Esp those 35-49 storey. Actually staying too high floor no good when using the lift, it basically stop many many floor before reaching your level during peak hours, super irritating and waste time.

If you get those with many lifts then not a problem. 

[inlinesix]

On 3/19/2025 at 8:28 AM, Spidey10 said:

strike Toto...

sell and buy 2.5 mil condo lah...lppl...

do u think if buy $2.5 mil got potential to get 150% ROI? 

My fren got a low floor unit with unobstruct view.

He can see all the way to MBS.

As of now, he has no intention to sell.

[13177]

On 3/19/2025 at 8:38 AM, Mkl22 said:

If you get those with many lifts then not a problem. 

I think max lift that can have are 3. Those super high floor HDB, usually should have 4 lifts but 2 lifts serve lower and upper level separately.

But no matter how many lifts, there are still chances to stop on many floors if you are coming down/going up to top level.

Edited March 19 by 13177

[Spidey10]

On 3/19/2025 at 8:32 AM, 13177 said:

Top-floor living can be isolating? Must depends on which level of top floor lo. If your top floor is less than 20 storey, i do not think it is isolating at all. Only might feel isolating if you stay 25 storey and above. Esp those 35-49 storey. Actually staying too high floor no good when using the lift, it basically stop many many floor before reaching your level during peak hours, super irritating and waste time.

ground floor best, actually those on ground floor and next to a plot of land...can spend sometime doing gardening, can plant chilli, pandan leave, cucumber, good for semi retirees like me ....also best is car park just next to the block too...park car, get out, walk like 10 steps and reach the unit...

if forgot to take things from the car, can walk back and take.....best!! 

[Spidey10]

On 3/19/2025 at 8:47 AM, 13177 said:

I think max lift that can have are 3. Those super high floor HDB, usually should have 4 lifts but 2 lifts serve lower and upper level separately.

But no matter how many lifts, there are still chances to stop on many floors if you are coming down/going up to top level.

u know at my block there's pple who complain that it takes ages for the lif to come during peak hrs - especially in the morning, coz everyone will be out and the lif will stop at every floor even thou it's full....easily 10-15 mins wait...

just like our MRT....come but cannot get in coz is full!!

Edited March 19 by Spidey10