SELL & RENT HDBS IN CENTRAL AREA ESTATE
Central Area (中央区) HDB Estate is located in the heart of Singapore.
This estate boasts unparalleled connectivity, world-class amenities, and proximity to major business hubs. While the Central Area is known for its modern skyscrapers and vibrant commercial activity, it also offers a blend of historical charm with its conserved shophouses and cultural landmarks.
The residential spaces in this estate cater to those who seek the convenience of city living alongside Singapore’s rich heritage and evolving urban landscape.
The two blocks of 10-storey HDB flats at Cantonment Road in Tanjong Pagar were more than just buildings; they were the cornerstone of our political promise and the foundation of public trust.
Their completion was crucial to our re-election in 1963. These flats symbolize the beginning of Singapore’s public housing success story.
Lee Kuan Yew
First Prime Minister of Singapore
QUICK LINKS
HDB BUKIT MERAH BRANCH OFFICE
There’s no dedicated branch office for Central Area HDB Estate residents.
Please visit the nearby HDB Bukit Merah Branch Office instead.
(a) Historical Significance – Sir Stamford’s Landing:
The Central Area is where modern Singapore began. In 1819, Sir Stamford Raffles landed along the banks of the Singapore River to establish Singapore as a free port, marking the start of its transformation into a global trading hub.
(b) Pioneering Integrated Hawker Centres:
Block 50 Havelock Road, built in 1966, was the first HDB block to incorporate an integrated hawker center, setting the foundation for the modern-day coffee shops and void deck eateries found across HDB estates.
(c) HDB’s First Mixed-Use Project:
People’s Park Complex, completed in 1968, was HDB’s pioneering mixed-use development in the Central Area. It introduced the concept of a “void deck” with residential units sitting atop a multi-level shopping center.
This architectural innovation has since become a defining feature of HDB estates across Singapore.
(d) Economic and Social Motivation:
In the 1970s, HDB’s efforts to build homes in the Central Area were driven by concerns that as people moved to the suburbs, the city center might lose its vibrancy at night and during weekends. By introducing residential developments such as Tanjong Pagar Plaza, HDB played a crucial role in keeping the city center lively.
(e) Architectural Landmark:
The Pinnacle@Duxton, located in the Central Area, is a key architectural marvel. Completed in 2009, it is one of the tallest public housing developments in the world, and features a skybridge offering panoramic views of the city skyline.
(f) Green Oases Amidst Urban Density:
Despite its dense urban environment, the Central Area offers several green spaces. Pearl’s Hill City Park, located near Chinatown, is a serene escape that reflects HDB’s commitment to blending greenery with urban development, providing residents with recreational and nature-filled retreats.
(g) Revitalizing Pearl’s Hill:
A significant upcoming project in the Central Area is the redevelopment of Pearl’s Hill in Chinatown. Over the next decade, HDB will progressively build around 6,000 new homes, including BTO and rental flats, offering fresh housing options in this historic district.
Are you considering selling, buying or renting out your HDB flat in the Central Area?
Or simply curious about the HDB housing scene in the Central Area?
Check out the HDB median resale prices and rental statistics for Central Area below.
I will be updating these statistics every quarter.
HOW ARE HDB RESALE PRICES IN CENTRAL AREA?
Quarterly Central Area HDB Median Resale Prices up to Q3 2024
SALE ANALYSIS FOR CENTRAL AREA HDB RESALE FLATS
Note: All prices shown are median resale prices. The median price represents the middle value when all transactions in a quarter are arranged from lowest to highest, providing a better representation of the typical price than an average would.
(a) RECENT TREND ANALYSIS (2020-2024)
From 2020-Q1 to 2024-Q3, Central Area’s resale market showed strong growth:
3-Room Flats:
- Starting median price (2020-Q3): $400,000
- Current median price (2024-Q3): $466,000
- Median price appreciation: 16.5% in ~4 years
Key Observations:
- Peak of $520,000 in 2024-Q2
- Price range typically between $420,000-$520,000
4-Room Flats:
- Starting median price (2020-Q3): $710,000
- Current median price (2024-Q3): $774,000
- Median price appreciation: 9% in ~4 years
Key Observations:
- Peak of $972,500 in 2021-Q4
- Significant data gaps
- Wide price range ($636,500-$972,500)
5-Room Flats:
- Starting median price (2020-Q1): $688,000
- Current price (2024-Q3): $898,000
- Median price appreciation: 30.5% in ~4 years
Key Observations:
- Last recorded median price was in 2007-Q2 at $436,000
(b) LONG TERM GROWTH (2007-2024)
Overall price changes from earliest data point to 2024-Q3:
3-Room Flats:
- Starting median price (2007-Q2): $246,500
- Current median price (2024-Q3): $466,000
- Total median price appreciation: 89%
4-Room Flats:
- Starting median price (2007-Q2): $341,000
- Current median price (2024-Q3): $774,000
- Total median price appreciation: 127%
P.S. HDB provides the median resale price for a flat type only if the estate has at least 20 transactions for that quarter. This explains why the line graphs for all HDB flats in the Central Area have gaps. There were less than 20 transactions in those quarters.
HIGHEST RESALE PRICE
Highest resale price achieved for the different Central Area HDB flat types in 2024-Q3:
a) HDB 3-room flat: $546,000 @ 633 Verrasamy Road
b) HDB 4-room flat: $1,415,000 @ 1C Cantonment Road
c) HDB 5-room flat: $1,540,000 @ 1F Cantonment Road
Looking to sell your Central Area HDB flat or explore your upgrading options?
I’ve helped many sellers. I can help you, too.
HOW ARE HDB RENTAL PRICES IN CENTRAL AREA?
Quarterly Central Area HDB Median Rental Prices up to Q3 2024
RENTAL ANALYSIS FOR CENTRAL AREA HDB FLATS
(a) RECENT TREND ANALYSIS (2020-2024)
From 2020-Q1 to 2024-Q3, Central Area’s rental market showed substantial growth:
3-Room Flats:
- 2020-Q1: $2,200 → 2024-Q3: $3,200
- Increase: +45.5%
4-Room Flats:
- 2020-Q1: $2,600 → 2024-Q3: $4,200
- Increase: +61.5%
5-Room Flats:
- Insufficient recent data for comparison
- Last recorded in 2016-Q4: $3,500
Key Observations:
- Steepest rise began in 2022 due to post-pandemic demand
- 4-room flats saw higher percentage increase
- Rental gap between 3-room and 4-room: $1,000
- Premium pricing reflects prime central location
(b) LONG TERM GROWTH (2007-2024)
Overall price changes from earliest data point to 2024-Q3:
3-Room Flats:
- 2007-Q2: $1,225 → 2024-Q3: $3,200
- Total Growth: +161.2%
4-Room Flats:
- 2010-Q1: $2,300 → 2024-Q3: $4,200
- Total Growth: +82.6%
P.S. HDB provides the median rental price for a flat type only if the estate has at least 20 transactions for that quarter. This explains why the line graph for 5-room flats in Central Area is almost non-existent. There were less than 20 transactions for most quarters.
HIGHEST RENT
Highest rent achieved for the different Central Area HDB flat types in 2024-Q3:
a) HDB 3-room flat: $4,000 @ multiple locations
b) HDB 4-room flat: $5,400 @ multiple locations
c) HDB 5-room flat: $6,000 @ 1E Cantonment Road
Looking to rent out your Central Area HDB flat or explore your options?
I’ve helped many landlords. I can help you, too.
Check out the sales & rental trends in other HDB towns in Singapore.
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WHAT BRINGS YOU HERE TODAY?
Are you wondering what to do in today’s market?
Perhaps you already have a clear mind of what you want to do?
In my blog, I often share stories of the challenges, triumphs, and lessons learned in my work as a real estate agent in Singapore.
Regardless of your situation, you can use me as a sounding board. I’ll provide perspective and clarity from my experience.
