Condo vs HDB: The Estates With the Smallest (and Widest) Price Gaps
A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan's expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938's Open House programme underscores his commitment to providing valuable insights into the property market.
With new launch condos both pricier and more compact, it’s no surprise that some buyers are weighing resale flats as an alternative. In 2025, a two-bedder condo can cost upwards of $1.7 million, enough to buy a central five-room flat. But the condo-HDB price gap isn’t uniform. It can vary sharply by town, unit type, and even the age of the project.
In this study, we analysed resale and sub-sale condo transactions alongside HDB resale deals from 2024 to mid-2025. The result: a breakdown of the price gap estate by estate. If you’re deciding between a condo or flat in a particular location, this comparison will show you where a resale HDB may represent better value, or where the gap is surprisingly narrow.
Let’s start by looking at the general price difference between condos and resale flats over the past decade
| Year | Avg non-landed private property prices | Avg HDB prices | Price difference | % change |
| 2014 | $1,360,580 | $442,716 | $917,864 | |
| 2015 | $1,311,804 | $434,710 | $877,094 | -4.44% |
| 2016 | $1,353,678 | $438,839 | $914,839 | 4.30% |
| 2017 | $1,319,134 | $443,889 | $875,245 | -4.33% |
| 2018 | $1,329,382 | $441,282 | $888,100 | 1.47% |
| 2019 | $1,383,844 | $432,138 | $951,706 | 7.16% |
| 2020 | $1,312,358 | $452,279 | $860,079 | -9.63% |
| 2021 | $1,352,895 | $511,381 | $841,514 | -2.16% |
| 2022 | $1,444,002 | $549,714 | $894,287 | 6.27% |
| 2023 | $1,512,817 | $571,806 | $941,011 | 5.22% |
| 2024 | $1,611,611 | $612,600 | $999,011 | 6.16% |
| Price increase from 2014 to 2024 | 18.45% | 38.37% | 8.84% |
From 2014 to 2024, the general price gap between condos and flats rose by almost nine per cent. HDB resale prices increased by about 38 per cent over that time, while condo prices rose by around 18 per cent.