Why these 4-room HDB resale flats near the CRL Phase 2 stations show absolute potential

Over the past few weeks, there has been a spate of good and bad news.

One good news is that the new 6 Cross Island Line Phase 2 MRT stations were announced, so homeowners near those stations will have something to rejoice about.

However, the bad news is the cooling measures which came into effect on 30 September 2022. Anyone who has sold a private property will have to wait 15 months from the date of sale before being able to purchase an HDB flat. This may have caught many potential homebuyers (and sellers) flat-footed.

Fortunately for some, the restrictions do not apply to homebuyers who are 55 years old and above. If you’re in this demographic, you are still eligible to buy an HDB resale flat, except not 5-room or executive flats. The rationale is that you are downgrading to a smaller flat, say a 4-room, for retirement or to feel less isolated after your children have grown up and left (empty nest syndrome).

Of course, why settle for any location when you can potentially stay near an upcoming train station or interchange? Better yet, we’ve located a few options near the upcoming CRL Phase 2 stations.

Maju MRT station (CR16)

Sunset Way Residence Maju station

Completed in 1984 with about 61 years of lease remaining, Clementi’s Sunset Way Residence is one of the closest residences to the upcoming Maju station. We estimate that when the Maju station is completed, the nearest exit will be approximately 200 metres away near where Maju Drive meets Clementi Road.

Sunset Way Residence
The nearest blocks at Sunset Way Residence to Maju station are Blocks 117 and 118, which have 140 4-room units each. The adjacent blocks 115 and 116 have 98 executive flats each. (Image credit: HDB Map Services)

Unfortunately, until the station is completed, residents must contend with the available MRT station – Clementi – which is also a Cross Island Line station and is about 11 minutes away by bus.

Notably, some units at Sunset Way Residence may overlook the landed neighbourhood of Clementi Crescent or the wide swathe of greenery that is Maju Forest.

Based on the URA Masterplan, a narrow stretch of land (a Reserve Site marked in yellow on the map) borders Clementi Neighbourhood Park and Sunset Way Residence to the north and west. Areas marked in orange in the northwest and farther east (beyond the landed housing at Clementi Crescent) are marked for future Residential development and subject to detailed planning.

URA Masterplan Sunset Way Residence
Maju camp occupies the dark green area (Special Use site), while the Singapore Institute of Management (SIM) occupies the educational institution area highlighted in light yellow. (Image credit: URA)

In other words, we may see more future housing flats, private condos or landed houses built in the neighbourhood. This will then add to the stockpile of available housing. But… (and there’s a but), it depends on how forward-looking you are. As more housing projects develop around the upcoming Maju station, what was once a forested area may soon become a thriving neighbourhood, that extends from the Sunset Lane cafes all the way up along Clementi Road towards the SIM institution.

The recent price action for Sunset Way Residence seems to suggest an uptick.

Sunset Way Residence

Over the past ten years, four-room HDB resale flats showed a 4.04% increase in average price per square foot (psf). It has risen even more in the recent two, at 13.88%. The latter could be a factor of pent-up resale housing demand since the pandemic began, but it could also be a factor of the project’s proximity to SIM Global Education, the eclectic Sunset Way cafes and eateries, and Clementi Arcade.

SIM Global Education
There are upsides to being near a school, especially a tertiary institution. (Image credit: SIM)

In absolute terms, the average price of a 4-room resale flat at the development is about S$606k.

The most recent sale was a 1,119-sqft apartment on a mid-level floor, which sold for S$655k or S$585.34 psf. This is still lower than the current record-holder, which sold for S$715k, or S$638 psf, in February 2014 (more than eight years ago).

Broadly, these figures are higher than the current Singapore average for 4-room resale flats at S$545k or S$537 psf.

Despite not being anywhere near walking distance to an MRT station, Sunset Way Residence is already showing signs of an appreciation in price, what more with a major MRT station in the works and a future neighbourhood uplift.

You may not see it now, but trust us, the place will likely transform over the next ten years. This is because, with an army camp and a school nearby, there is continuous human traffic in the area, which eventually trickles into growth opportunities in accommodation, business and retail.

Clementi MRT station (CR17)

Serving the East-West Line since 1988, Clementi MRT station will soon become an interchange station with the Cross Island Line in 2032.

Being a prime location in the West, it is no surprise that home prices around Clementi have surged even before COVID struck more than two years ago.

For example, over the past ten years, average psf prices of 4-room HDB resale flats around Clementi MRT station have risen by 29.83%; 13.90% in the past two.

Clementi MRT station average psfWith the average psf price currently at S$716, expect prices for a 4-room resale flat there to be anywhere between S$700k-900k.

Around the upcoming Cross Island Line underground station, seven residential neighbourhoods in the immediate vicinity offer 4-room HDB resale flats.

Clementi CRL housing neighbourhood

You can find older 4-room resale flats in Clementi Avenue 3, Avenue 4 (including Clementi Meadows) and Avenue 5. These flats were mostly built in the late 1970s and early 1980s, so their remaining leases are around 54 to 64 years.

Considering that it would take another ten years before the CRL17 station is ready, you’re looking at leases of 44 to 54 years by then.

Clementi station price chart
Most of the older 4-room resale HDB flats around Clementi MRT station have average psf prices of S$517-S$571 (S$485k-S$560k).

The 4-room resale flats in Clementi Meadows (blocks 315-320 at Clementi Avenue 4) have some of the highest transaction volumes due to their proximity to the station, Clementi Mall and Clementi Central.

Most of the newer projects, like Clementi Ridges, Trivelis (a DBSS flat) and Clementi Cascadia (a SERS replacement flat), only entered the resale market 3-4 years ago. Looking at recent transaction trends, 4-room resale units at Clementi Cascadia have appreciated by 10.13% since 2020. This is probably because the project is closest to Clementi Mall, the interchange and the MRT station.

The most expensive 4-room resale flat sold at Clementi Cascadia was also its most recent sale (July 2022) – a 1,012-sqft apartment (between the 25th and 27th floor), which sold for S$965k, or S$953.56 psf.

Clementi newer hdb resale

On the other hand, Trivelis, which first entered the resale market in late 2011, has only seen an average psf price appreciation of 1.08% since 2019. Its most expensive 4-room resale flat (typically between 861-926 sqft) was sold for S$898k in October 2019. In March 2022, an 883-sqft 4-room flat was sold for S$823k (S$932 psf).

Similarly, Clementi Ridges has seen its average psf price rise by 1.01% since 2019. However, while many would assume Clementi Cascadia, which is closer to Clementi MRT station, would breach its first million-dollar sale for a 4-roomer, Clementi Ridges seized the record before anyone else.

In January 2022, it recorded a S$1.06m deal for a ‘listed’ 1,216-sqft 4-room flat. Notably, 1,216 sqft isn’t your typical 4-room flat size. If we filter just based on 1,001-sqft 4-room flats, the current record at Clementi Ridges is a 4-room (Model-A) apartment, which sold for S$981k (S$980 psf) in September 2022, which is still higher than Clementi Cascadia or Trivelis.

In summary, the older Clementi 4-room resale flats currently average around S$517-S$571 (S$485k-S$560k). The downside is, of course, the lower leases (54 to 64 years remaining).

As for the newer projects, a typical 883/1001-sqft 4-room resale flat currently averages around S$849 to S$923 psf, or S$754k to S$934k.

While prices here are much more expensive than Sunset Way Residence, getting a 4-room resale flat near Clementi station assures you of accessibility, amenities and convenience. Not only that, most of the properties are within 1 kilometre of popular schools like Pei Tong Primary and Nan Hua Primary, which means persistent demand from eager parents if you ever intend to sell.

Jurong Lake District MRT station (CR19)

Residents near the Jurong Lake District (CR19) station are getting not one but two MRT stations. The Jurong Town Hall (JE6) MRT station on the Jurong Region Line will be completed by 2028, four years earlier than CR19.

We covered this at length and wondered why neither station is linked to the larger Jurong East interchange. Well, it seems that the authorities are studying if the two stations will be linked as a major interchange. If that happens, we think this neighbourhood (particularly the areas around Teban Gardens Food Centre and Pandan Gardens – where all the kids’ extracurricular activities are) may flourish even more.

Jurong Lake District and Teban Gardens HDB flats

Unfortunately, the closest 4-room HDB resale flats to the Jurong Lake District station are within the Teban Gardens neighbourhood. As the map shows, most of the flats are situated some distance from both stations.

Furthermore, a large field, a row of office buildings and the AYE come in between the two. Residents will likely need to walk or take a bus along Penjuru Road to get to the nearest station entrance. Teban Place, probably the nearest HDB development to JLD station, is roughly 500 metres away on foot.

With reference to the map, there are four main HDB neighbourhoods in Teban Gardens offering 4-room HDB resale flats. The oldest would be the ones along West Coast Road, which we covered as a historical piece last year.

The rest, such as Teban Place, Teban Vista and Teban View, are newer developments with at least 70-74 years of lease remaining by the time Jurong Town Hall and Jurong Lake District stations open.

Teban Gardens HDB resale 4-room
Maybe the residents at Teban Gardens know what’s up before the announcement…

Over the past decade, average psf prices of 4-room HDB resale flats in the neighbourhood have gone up by 24.90%. In the last two years since COVID started, prices have been up 21.77%.

Today, a 4-room HDB resale flat in Teban Gardens has an average psf price of S$487 or an average price of S$486k.

Based on our records, the most expensive 4-room resale – a 990-sqft Model A apartment – was sold in October 2019 for S$645k (S$652 psf) at Teban Vista. This was followed by a similar apartment at Teban View, which sold for S$610k (S$616 psf) in May 2022.

Blk 22 Teban Vista
22 Teban Vista currently holds the distinction for the most expensive 4-room HDB resale flat sold (S$645k in Oct 2019) for Teban Gardens. This block is one to watch as the CRL and JRL stations gradually shape and gentrify the surrounding neighbourhood over the next decade.


Summary of 4-room HDB Resale Transaction Records near the three CRL Phase 2 stations (most expensive and least expensive)

Here’s a summary of some of the 4-room HDB resale transactions across the three neighbourhoods we’ve covered, separated by the most expensive and most recent (past five years) lowest price paid for each respective HDB project.

Cross Island Line station Project Name TOP Remaining lease today (years) Most expensive price paid for a 4-room HDB resale flat (S$) Price Per Square Foot (S$) Transaction Date Floor Area (square feet) Block Floor range
Clementi (CR17) Clementi Ridges 2017 94 1,060,000 871.71 01/2022 1216 312B 31-33
Clementi (CR17) Clementi Cascadia 2018 95 965,000 953.56 07/2022 1012 440B 25-27
Clementi (CR17) Trivelis 2014 91 963,000 N/A 01/2020 N/A 311A 37-39
Clementi (CR17) Clementi Avenue 3 1980 57 951,300 1016 05/2022 936 441B 34-36
Maju (CR16) Sunset Way Residence 1984 61 715,000 638.96 02/2014 1119 117 13-15
Jurong Lake District (CR19) Teban Vista 2013 90 645,000 651.52 10/2019 990 22 31-33
Clementi (CR17) Clementi Avenue 5 1978 54 640,000 653.06 12/2012 980 324 10-12
Clementi (CR17) Clementi Meadows 1979 56 628,000 640.82 12/2012 980 318 7-9
Jurong Lake District (CR19) Teban View 2016 93 610,000 616.16 05/2022 990 55 37-39
Clementi (CR17) Clementi Avenue 4 1980-1987 56-64 586,800 598 04/2022 980 373 10-12
Jurong Lake District (CR19) Teban Place 2003 80 500,000 515 09/2022 969 62 19-21
Jurong Lake District (CR19) Teban Gardens 1981-1987 58-64 450,000 449.55 09/2022 1001 48 10-12

(Data sources: URA, Realis and 99.co)

Cross Island Line station Project Name TOP Remaining lease today (years) Most recent (past 5 years) lowest price paid for a 4-room HDB resale flat (S$) Price Per Square Foot (S$) Transaction Date Floor Area (square feet) Block Floor range
Jurong Lake District (CR19) Teban Gardens 1981-1987 58-64 320,000 300 03/2021 1066 30 1-3
Jurong Lake District (CR19) Teban Vista 2013 90 320,000 341.88 11/2017 936 23 7-9
Jurong Lake District (CR19) Teban Place 2003 80 325,000 355.19 09/2017 915 64 7-9
Clementi (CR17) Clementi Meadows 1979 56 350,000 353.54 10/2021 990 308 4-6
Clementi (CR17) Clementi Avenue 5 1978 54 365,000 368.69 09/2019 990 326 10-12
Clementi (CR17) Clementi Avenue 4 1980-1987 56-64 400,000 408.16 11/2018 980 373 10-12
Jurong Lake District (CR19) Teban View 2016 93 420,000 424 11/2020 990 57 4-6
Maju (CR16) Sunset Way Residence 1984 61 510,000 438.52 03/2021 1163 117 7-9
Clementi (CR17) Trivelis 2014 91 512,000 594.66 11/2021 861 311C 13-15
Clementi (CR17) Clementi Cascadia 2018 95 560,000 N/A 10/2020 N/A 440B 7-9
Clementi (CR17) Clementi Ridges 2017 94 635,000 N/A 02/2021 N/A 312B 1-3
Clementi (CR17) Clementi Avenue 3 1980 57 788,000 841.88 11/2018 936 441B 13-15

(Data sources: URA, Realis and 99.co)

How the CRL Phase 1 announcements have impacted 4-room resale flats near their station locations

To better understand how these resale flats would perform over the next several years, we look at some sites near some of the Phase 1 stations. The 12 CRL Phase 1 stations were announced in January 2019 and have an expected completion date of 2030.

A study of the average price for 4-room resale flats at Sin Ming Garden (just next to Bright Hill station), shows a 13.73% appreciation after the announcement. To be fair, these percentages include the impact of heightened resale demand during COVID but also exclude the recent cooling measure restrictions.

Sin Ming Bright Hill stationSimilarly, for Teck Ghee Vista, which is right next to the upcoming Teck Ghee CRL station, average prices of 4-room resales have gone up 16.12% after the announcement. Teck Ghee Vista had more resale volume than Sin Ming Garden over the same period.

So it makes sense that we might see similar upward trends (or at least a stable one) affecting resale flats (and condos) near the Phase 2 stations in the coming years.


Teck Ghee Vista CRL Phase 1After the announcement, some analysts have forecasted price increases of up to 3% post-announcement. By the time the stations are completed in 2032, they estimate a 5-15% increase. However, we should note that this didn’t take into account the recent cooling measure restrictions, so there may be some moderation in prices as demand slows for a while.

If you’re eligible to buy a 4-room resale flat and are unaffected by the cooling measure restrictions, you may want to consider these 4-room resale flat options and hope they remain resilient against any short-term headwinds like future cooling measure restrictions.

Better yet, hold onto them for the next ten years and watch the neighbourhood around you transform with the introduction of a new train network. You may be surprised by the sort of housing or rental demand that follows thereafter.




Considering a 4-room HDB resale flat or stuck due to the recent cooling measure restrictions? Let us know in the comments section below.

If you found this article helpful, 99.co recommends Property Cooling Measures 2022 : Higher Interest Rate Floors, HDB LTV Lowered to 80% and Other Updates and 3 insights from the recently announced Phase 2 Cross Island Line MRT stations you might have missed.

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