One of the most exciting milestones in an HDB homeowner’s journey is when their BTO flat hits its Minimum Occupation Period (MOP). At this point, the flat becomes eligible for resale after a five-year wait. Depending on various factors, this can result in a significant increase in value for the homeowner.
While most BTO flats see some degree of appreciation—this is Singapore, after all, where the real estate market thrives—certain projects stand out, offering stellar profits to their owners. In fact, some developments have seen remarkable gains within the short five-year MOP period, far outpacing other projects that take a decade to achieve similar growth.
Join us as we explore notable HDB BTO projects that have rewarded their owners with impressive profits shortly after MOP.
What makes a property stand out?
Before diving into specific examples, let’s explore the key factors that contribute to the high ROI of certain HDB projects.
Location
The primary driver of a property’s value is undoubtedly its location. While details like floor height and facing direction do play a role, the broader context of where the project is situated within the estate often determines its potential for appreciation.
Properties located near MRT stations, shopping malls, town centers, and reputable schools tend to command higher demand, leading to greater value appreciation.
Age of the flat
In Singapore, where HDB flats have a 99-year lease, a flat’s age significantly impacts its value. Older flats generally appreciate less unless extraordinary developments—like the addition of an MRT station, a new shopping mall, or the relocation of a prestigious school—boost their appeal.
Market conditions & government policies
Overall market trends and policy changes also play a crucial role in property values. For instance, the introduction of extended 10-year MOPs for HDB flats in prime locations has had a ripple effect. Existing flats in these areas tend to increase in value due to reduced competition; future flats will take twice as long to enter the resale market, tightening supply and driving demand for those already available.
1. Punggol Bayview
Source: Google
One recently MOP-ed project that has delivered significant gains for its owners is Punggol Bayview, located along Sumang Walk in Punggol.
Launched during the January 2014 BTO exercise, 5-room flats at Punggol Bayview were priced between $393,000 and $495,000 at launch. Having crossed its 5-year MOP milestone in mid-2024, some of these units have recently been transacted on the HDB resale market for $940,000 to $980,000. This represents a stunning potential profit of around 100% for homeowners—an exceptional figure, especially for a non-central region like Punggol.
Several factors contribute to Punggol Bayview’s strong demand and high resale prices. Firstly, it offers residents the rare luxury of waterfront living, a coveted feature in land-scarce Singapore. Secondly, Punggol has evolved into a vibrant residential estate, boasting a full suite of amenities. The future looks even brighter with the upcoming Punggol Digital District, which is set to further enhance the estate’s appeal and value.
2. Alkaff Vista
Source: Google
When it was first announced as a residential estate, Bidadari became the talk of the town, receiving significant interest from homebuyers.
Launched in the Nov 2015 BTO sales exercise, 4-room units were listed from $433,000-$550,000, while 5-room units were priced at $544,000-$625,000. These prices were naturally higher than similar-sized counterparts in estates further from central Singapore, reflecting the premium homebuyers had to pay for the fantastic location.
It seems like this investment paid off for its buyers. Shortly after its 5-year MOP in mid-2024, 4-room units achieved transactions exceeding the one-million-dollar mark, with one even hitting $1.3M! Similar to Punggol Bayview, units doubled in value in approximately five years of their MOP, which is pretty spectacular.
3. Khatib Court
Source: Google
Launched as part of the September 2013 BTO exercise, Khatib Court located at 813 Yishun Ring Road has seen an average gain of around 121% since its TOP in late-2017. Located conveniently right next to Khatib MRT station, one of the key draws of Khatib Court is its access to public transport, not only with an MRT at your doorstep but a whole suite of bus services to various parts of Singapore as well.
According to some info online, 3-room flats at Khatib Court were sold for around $193K back in the 2013 sales launch. A check on the HDB Resale Portal shows that in the last six months, a handful of 3-room flats were sold for between $515K – $578K, which is about a 200% increase!
4. Fernvale Crest
Source: Google
When Fernvale Crest was first launched in 2009, 2- and 3-room flats were sold at an affordable $74,000 and $116,000, respectively, while 4-room flats were priced at $203,000.
Why the low price point? One possible reason was the economy’s recovery from the 2008 Global Financial Crisis, prompting the government to keep public housing prices affordable. Additionally, Fernvale—located in Sengkang West—was a newly developed estate at the time, with limited amenities factored into the initial launch price.
After meeting its MOP in 2017, 4-room flats at Fernvale Crest were sold at an average price of $430,000, translating to an impressive return of around 89.9%.
In the past six months, transactions have continued to reflect strong demand. For example, several 4-room flats were sold for $555,000 to $690,000, which represents over 230% returns based on their original launch price!
5. EastWave @ Canberra
Source: Land
Another BTO project with a significantly high ROI after its MOP is EastWave, located in the new estate of Canberra, situated between Yishun and Sembawang.
Launched under the May 2013 BTO sales exercise, 4-room flats started at $225K, while 5-room flats were priced from $314K. By 2021, when the development reached its MOP, 4-room flats sold at an average price of $485K, representing a profit of approximately 83.4%. Similarly, 5-room flats achieved an average transaction price of $650K, reflecting an average gain of 87.1%.
6. Saint George’s Towers
Source: LOOK Architects
Location undoubtedly plays a huge role in determining the potential upside for HDB flats, and this is certainly the case for St George’s Towers.
Completed in 2019 and having recently MOP-ed earlier this year, most of its 738 units are 4-room HDB flats, along with a number of studio apartments and 3-room flat units. When it was first launched, the price for a 3-room unit was around $328K, and $459K for a 4-room unit. These prices are understandably higher than other BTOs due to the fantastic location. According to reports, prices for units at St George’s Towers have risen to around $800K for 3-room flats and approximately $1M for 4-room flats, a phenomenal increase in value over five years.
Fantastic location aside, there are several other possible reasons for its significant appreciation in value. For instance, a unique feature of units at St George’s Towers includes 3/4-height windows in the living and dining areas of the 3- and 4-room flats. In addition, the development boasts a landscaped sky terrace on the top floors of each block, as well as a rooftop garden on top of the multi-storey car park.
Oh, and did you know that LOOK Architects, the architects behind St George’s Towers, received an HDB Design Award for this project?
7. Macpherson Spring
Source: Google
Speaking of Kallang/Whampoa, another project that MOP-ed recently in mid-2024 is Macpherson Spring, located along Circuit Road. Launched as part of the [specific BTO exercise], 3-room flats were priced from $275K upwards, while 4-room flats started from $403K upwards.
Since fulfilling its MOP, there have been a significant number of sales transactions over the past six months. Notably, these include several million-dollar and high-$900K 4-room flats, with the highest recorded sale being $1.08M in June 2024! Considering that these flats were launched at upwards of $403K, this translates to a potential profit of up to 167% in just five years, which is quite spectacular.
A highlight of Macpherson Spring is its proximity to notable schools, such as Geylang Methodist Primary School, Macpherson Secondary School, and Geylang Methodist Secondary School. Being in a relatively mature estate like Kallang/Whampoa, there is no lack of amenities and food options. Additionally, its central location provides convenient access to other parts of Singapore.
Read more about HDB developments which have netted significant ROI after their MOP dates:
- Punggol Waterfront 5-Room HDBs fast approaching the million dollar mark
- Million-dollar HDBs Alkaff Vista just 2 months after MOP
- Buying a resale flat at Saint George’s Towers & Tampines Greenview
Cover image adapted from: Google
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