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February 01, 2023
Newly MOP-ed Units To Add To Resale EC And HDB Flat Supply In 2023
By Wong Siew Ying
Every year, a fresh stock of homes that have exited the 5-year minimum occupation period (MOP) presents themselves on the resale market. Owners of these HDB flats and Executive Condos (ECs) are now free to put them up for sale or lease after attaining the MOP.
In 2023, over 15,000 HDB flats and more than 4,100 ECs could make their resale debut. Here’s a list of the estimated 2023 MOP residential units that buyers can watch out for.
HDB flats
First-timer flat buyers who do not wish to wait for new BTO (Build to Order) flats to be completed can seek potential resale units in these projects (see Table 1). In addition, eligible first-time buyers can tap up to $160,000 in housing grants to help to finance the resale flat purchase. Being newly MOP-ed, these flats are almost good as new and still have a lengthy remaining lease balance. Meanwhile, HDB upgraders who are seeking to move to a different location or to a larger flat may also be keen on them.
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Table 1: HDB flats reach MOP in 2023
| Town | Project Name | Number of Flats | Estimated Distance to MRT station / Primary schools (1-km) |
| Ang Mo Kio | Cheng San Court | 712 | Ang Mo Kio (500m) / Jing Shan Primary, Teck Ghee Primary |
| Bedok | Fengshan GreenVille | 1,058 | Tanah Merah (760m) / Bedok Green Primary, Red Swastika School, St. Antony’s Canossian Primary, Yu Neng Primary |
Bukit Batok | West Rock @ Bukit Batok | 448 | Bukit Batok (1.2km) / Dazhong Primary, Jurong Primary, Princess Elizabeth Primary |
| West Terra @ Bukit Batok | 1,793 | Bukit Batok (730m) / Dazhong Primary, Princess Elizabeth Primary | |
| West Valley @ Bukit Batok | 924 | Bukit Batok (1km) / Dazhong Primary, Jurong Primary, Princess Elizabeth Primary, Yuhua Primary | |
| West Ridges @ Bukit Batok | 1,578 | Bukit Batok (1.5km) / Dazhong Primary, Jurong Primary, Princess Elizabeth Primary | |
| Hougang | Buangkok Parkvista | 485 | Tongkang LRT (830m) / Anchor Green Primary, Fernvale Primary, Hougang Primary, Yio Chu Kang Primary |
| Buangkok Tropica | 718 | Tongkang LRT (530m) / Anchor Green Primary, Fernvale Primary, Hougang Primary, Yio Chu Kang Primary, Palm View Primary, Sengkang Green Primary | |
| Buangkok Square | 725 | Tongkang LRT (730m) / Anchor Green Primary, Fernvale Primary, Hougang Primary, Yio Chu Kang Primary, Palm View Primary | |
| Jurong West | Yung Ho Spring I | 641 | Lakeside (2km) / *Boon Lay Garden Primary, Fuhua Primary, Lakeside Primary |
| Yung Ho Spring II | 266 | Lakeside (1.9km) / *Boon Lay Garden Primary, Fuhua Primary, Lakeside Primary | |
| Punggol | Punggol Bayview | 1,096 | Nibong LRT (370m) / Punggol Cove Primary, Punggol Green Primary, Valour Primary |
| Sembawang | Sun Breeze | 700 | Sembawang (710m) / Canberra Primary, Sembawang Primary |
| Sembawang | Sun Natura | 848 | Sembawang (730m) / Canberra Primary, Sembawang Primary, Endeavour Primary |
| Sengkang | Anchorvale Fields | 511 | Farmway LRT (490m) / Anchor Green Primary, Fern Green Primary, Nan Chiau Primary, Springdale Primary |
| Toa Payoh | Toa Payoh Apex | 557 | Toa Payoh (890m) / First Toa Payoh Primary, Kheng Cheng School, Pei Chun Public School, St. Andrew’s Junior School |
| Woodlands | Marsiling Greenview | 1,304 | Marsiling (440m) / Marsiling Primary, Fuchun Primary |
| Yishun | Blossom Spring @ Yishun | 650 | Yishun (1.7km) / Huamin Primary, North View Primary |
| Yishun | Meadow Spring @ Yishun | 469 | Yishun (1.9km) / Huamin Primary, North View Primary |
Source: PropNex Research, Onemap (*schools are between 1km and 2km)
Of the list of flats that could reach MOP in 2023, Cheng San Court in Ang Mo Kio and Toa Payoh Apex will likely be among the more sought-after projects given their relatively central locations within mature towns. However, resale flats in these towns are usually pricier (see Table 2) – the average price for 4-room resale flats in Ang Mo Kio was more than $593,000, while that of 5-room flats was over $808,000 in 2022 (till 15 December).
Those with tighter budget may want to look at potential buying options in the suburbs such as Jurong West, Sembawang, Woodlands and Yishun, where resale prices are generally more affordable than the popular estates in more central locations. For instance, the average transacted prices of 4- and 5-room flats in Jurong West was about $480,000 and $563,000 respectively in 2022 (see Table 2).
Table 2: Average HDB Resale Prices Transacted in 2022 (till 15 December)
| Town | 4-room | 5-room |
| ANG MO KIO | $593,985 | $808,771 |
| BEDOK | $507,982 | $666,519 |
| BUKIT BATOK | $522,180 | $709,883 |
| HOUGANG | $520,273 | $648,254 |
| JURONG WEST | $480,139 | $563,042 |
| PUNGGOL | $549,220 | $629,055 |
| SEMBAWANG | $502,388 | $583,871 |
| SENGKANG | $527,283 | $603,216 |
| TOA PAYOH | $700,286 | $865,901 |
| WOODLANDS | $471,148 | $562,565 |
| YISHUN | $467,844 | $610,296 |
Source: PropNex Research, data.gov.sg
Executive Condos
HDB upgraders who are put off by the higher prices in the private condo new launches can explore the private resale market, including executive condos. More than 4,100 EC units (see Table 3) are due to meet their 5-year MOP in 2023, making them eligible to be resold to Singaporeans and Singapore PRs on the resale market.
Resale ECs are among the more affordable private homes in the market. In 2022 (till 9 December), the average price of resale ECs was $1,096 psf – lower than $1,329 psf for new ECs - according to URA Realis caveat data. It is also lower than the average transacted resale price for OCR private condos (ex. EC) which came up to $1,266 psf and new OCR non-landed private home sales (ex. EC) at $1,934 psf in 2022 (till 9/11 December).
Table 3: Executive Condo Projects reaching MOP in 2023
| Project | Location | Number of Units | Estimated Distance to MRT station / Primary schools (1-km) |
| The Criterion | Yishun Street 51 | 505 | Yishun (1.9km) / Huamin Primary, Naval Base Primary, Northland Primary |
| Parc Life | Sembawang Crescent | 628 | Sembawang (610m) / Canberra Primary, Sembawang Primary, Wellington Primary |
| Wandervale | Choa Chu Kang Avenue 3 | 534 | Keat Hong LRT (520m) / Chua Chu Kang Primary, South View Primary, Teck Whye Primary |
| Sol Acres | Choa Chu Kang Grove | 1,327 | Keat Hong LRT (280m) / Chua Chu Kang Primary, South View Primary, Teck Whye Primary |
| The Visionaire | Canberra Drive | 632 | Canberra (550m) / Sembawang Primary, Wellington Primary |
| Treasure Crest | Anchorvale Crescent | 504 | Cheng Lim LRT (270m) / Anchor Green Primary, Compassvale Primary, Nan Chiau Primary, Punggol Green Primary, Springdale Primary |
Source: PropNex Research, URA Realis, Onemap
Buying freshly MOP-ed ECs ensures that the property is almost brand-new being just 5 years old. In addition, there is also a good potential for capital gains in the future when the projects can be sold to foreigners (after 10 years from TOP date). Speak to a PropNex agent today to find out more about resale opportunities and which properties best suit your budget and needs.
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