Type

Units

Min Area

Price Range

2 BR

646 sqft

S$320K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$320K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$64,000 on this acquisition.
Located 8 min (660 m) from DT25 Mattar MRT Station.

Housing Grants & Financing

Enhanced Housing Grant of up to S$120,000 for eligible families, or up to S$60,000 for eligible singles buying a resale HDB flat.
Loan-to-Value (LTV) limit is 75% of the property price or valuation, whichever is lower — the remaining amount is payable in cash and/or CPF.
Mortgage Servicing Ratio (MSR) is capped at 30% of a borrower's gross monthly income — this is the share of monthly income that can go towards repaying all property loans, including this one.
Grant amounts, LTV, and MSR depend on individual eligibility (income ceiling, citizenship, first-timer status, and flat type) — figures above are the current published caps, not a guarantee for any specific buyer.

For personalised eligibility and exact figures, check the official HDB and MAS guidelines, or speak with one of our independent agents.

Price Trends & Rental Yield

Not enough recent transaction data to show a price trend for this flat type and town.

Interested in this property?

Send a quick enquiry our Singapore Property team will reach out within 24 hours.

24 Balam Road: A Well-Connected HDB Resale Home in Mattar

Situated along Balam Road in the established Mattar precinct, 24 Balam Road represents a practical housing solution for buyers seeking a genuine foothold in Singapore's residential market. This HDB resale development offers spacious units suitable for small families, young professionals, and investors exploring the island's enduring HDB sector. Located within easy reach of Mattar MRT station, the property enjoys meaningful proximity to public transport infrastructure that underpins both lifestyle convenience and investment resilience.

The Mattar area has long represented a stable, mature neighbourhood characterised by established community infrastructure and consistent residential demand. Properties in this locality appeal to those valuing walkability, established amenities, and reliable transport connectivity without the premium pricing of newer prime districts. The neighbourhood's demographic profile—anchored by families, upgraders, and long-term residents—creates a sustainable rental market and supports predictable capital appreciation patterns over extended holding periods.

Location and Transport Connectivity

The proximity to Mattar MRT station, situated approximately 8 minutes' walk or 660 metres away, positions this development within Singapore's well-integrated public transport network. Mattar station provides connections along the Downtown Line, enabling direct access to major employment hubs, shopping districts, and leisure destinations across the island. For daily commuters, this level of accessibility significantly reduces travel friction and enhances the property's appeal to working professionals seeking convenient connectivity.

The established nature of Mattar as a residential address means that surrounding infrastructure—including hawker centres, neighbourhood shops, and essential services—has developed organically over decades. This organic maturity often translates to lower operational disruption and stable amenity provision compared to newly launched developments still establishing their support ecosystems. Properties in such established zones typically attract a balanced mix of owner-occupiers and investors, creating healthy market dynamics.

Unit Composition and Space Planning

The development comprises 2-bedroom units across a compact footprint of approximately 646 square feet, a configuration well-suited to downsizers, young couples, and single-income families prioritising accessibility and affordability. This floor area allows efficient day-to-day living whilst maintaining manageable maintenance demands and utility costs. The single-bathroom layout reflects typical HDB design principles, with space allocation optimised for practical family use.

Units of this size have consistently demonstrated strong rental demand across Singapore's residential market, particularly among expatriates, young professionals, and tenants seeking affordable, turnkey accommodation in well-serviced neighbourhoods. The 2-bedroom segment also appeals strongly to first-time owner-occupiers building equity whilst keeping monthly mortgage obligations proportionate to typical household income profiles.

Investment and Rental Yield Potential

Properties at 24 Balam Road present plausible rental yield opportunities, particularly given their positioning in a neighbourhood with steady tenant demand and the adjacent MRT connectivity supporting tenant profiles earning stable employment income. Historical HDB rental trends in mature, MRT-adjacent neighbourhoods typically generate annual yields ranging from 2.5% to 3.5%, depending on unit condition, lease remaining, and exact rental market dynamics at the time of investment.

Investors evaluating this development should consider the stability and predictability of the HDB rental sector relative to private residential markets. HDB units, being government-regulated, operate within a transparent policy framework that protects both owners and tenants, reducing speculative volatility. The maturity of the Mattar area, combined with established transport links, has traditionally supported consistent rental absorption and stable tenant quality.

Financing and Affordability Considerations

The price point for units at 24 Balam Road from S$320,000 positions the development as an accessible entry point for first-time owner-occupiers and upgraders seeking to build equity without overextending household budgets. At this valuation, financing arrangements typically utilise HDB's own loan schemes, which offer competitive interest rates and favourable repayment terms compared to private banking alternatives. Many first-time buyers finance HDB purchases entirely through HDB loans, reducing reliance on private bank financing and associated credit constraints.

For buyers utilising Central Provident Fund (CPF) savings to cover downpayment and monthly instalments, the affordable price point means that monthly mortgage obligations remain modest relative to median household incomes across Singapore. This affordability structure has historically supported strong end-user demand for HDB properties in established zones, sustaining market liquidity and predictable transaction patterns.

Resale Market Dynamics and Lease Considerations

As an HDB resale property, units at 24 Balam Road are subject to Singapore's Housing and Development Board regulations governing ownership, occupancy, and resale eligibility. Importantly, the lease duration and remaining duration significantly influence long-term capital appreciation and eventual resale prospects. HDB leases typically expire at 99 years, and as leases decline below 60 years remaining, financing options contract and market demand can soften materially. Prospective buyers must verify the exact lease remaining before committing, as this fundamentally shapes the property's investment trajectory.

The resale HDB market in well-established neighbourhoods like Mattar has demonstrated resilience across economic cycles, with transaction volumes remaining relatively stable provided lease lengths remain serviceable. However, buyers acquiring properties with significantly aged leases should anticipate gradual value compression as the lease horizon shortens, particularly once fewer than 50 years remain. Government lease extension schemes exist but are neither automatic nor guaranteed, adding an additional layer of planning complexity for long-term ownership.

Suitability for Different Buyer Profiles

First-time buyers represent a natural target audience for 24 Balam Road, given the affordable entry price, straightforward HDB financing pathways, and mature neighbourhood environment with predictable living costs. Young couples and small families likewise find the 2-bedroom configuration practical and cost-efficient, allowing them to build equity whilst maintaining financial flexibility for other life priorities.

Upgraders transitioning from smaller HDB units or seeking to relocate within similar price bands will appreciate the spacious layout and established neighbourhood character. Investors focused on steady rental yields rather than aggressive capital appreciation may find the Mattar location appealing, particularly if targeting tenant profiles valuing affordability and established infrastructure. However, high-net-worth buyers and those prioritising premium finishes, exclusive amenities, or speculative capital upside may find this development insufficiently aligned with their priorities, as HDB properties by nature operate within regulatory frameworks that prioritise affordability and owner-occupancy over luxury positioning.

Comparative Market Positioning

Within the broader Mattar and surrounding Joo Chiat precinct, 24 Balam Road competes with other mature HDB resale stock, as well as limited private residential options at significantly higher price points. The price per square foot implied by the S$320,000 valuation for 646 sqft units provides a useful benchmark against recent transaction data in the locality. Buyers should cross-reference recent transacted prices and psf valuations for comparable 2-bedroom units in the immediate area to verify that this development's pricing aligns with prevailing market rates.

The absence of new HDB supply immediately surrounding this location means that competition for resale HDB units remains largely intra-district, with competing properties scattered across Mattar and adjacent neighbourhoods rather than concentrated within a single large project. This dispersed market structure typically supports steady, gradual appreciation without the sharp price volatility sometimes observed when multiple new developments launch simultaneously in tight supply zones.

Neighbourhood Maturity and Future Growth

Mattar represents a consolidated, mature residential neighbourhood with limited land for new large-scale development. This scarcity of greenfield opportunities typically supports gradual, organic appreciation of existing housing stock, as demand continues to accumulate against a constrained supply base. However, it also means that the area is unlikely to experience the dramatic capital appreciation sometimes seen in emerging growth corridors undergoing rapid infrastructure investment or master-planned redevelopment.

Government initiatives, including potential MRT line extensions or neighbourhood revitalisation programmes, could meaningfully influence the area's long-term trajectory. Buyers should monitor public land-use announcements and transport authority plans to anticipate potential upside or competitive pressures. For now, the neighbourhood's established character and stable demand profile suggest that 24 Balam Road will continue attracting owner-occupiers and investors seeking predictable, medium-term capital preservation alongside modest appreciation.

Conclusion

24 Balam Road exemplifies the enduring appeal of Singapore's mature HDB neighbourhoods: genuine affordability, practical living configurations, established community infrastructure, and proximity to public transport without the premium pricing of prime districts. The property suits first-time buyers building equity, upgraders seeking cost-efficient space, and investors comfortable with steady rental yields and gradual capital appreciation. Prospective purchasers must conduct thorough due diligence on lease remaining, verify recent comparable transactions in the locality, and ensure that financing arrangements align with household budgetary capacity. For those valuing stability, neighbourhood maturity, and affordable HDB ownership, 24 Balam Road presents a substantive opportunity within Singapore's enduring resale market.

Frequently Asked Questions

What rental yield can investors realistically expect from a 2-bedroom unit at 24 Balam Road?

HDB properties in mature, MRT-adjacent neighbourhoods like Mattar historically generate annual rental yields between 2.5% and 3.5%, depending on unit condition, remaining lease duration, and prevailing rental market conditions at the time of tenancy commencement. For a unit priced at S$320,000, this equates to gross annual rental income of approximately S$8,000 to S$11,200, though actual yields vary based on tenant profile, lease terms negotiated, and whether the investor incurs property management fees. The stability of HDB rental demand—underpinned by transparent regulatory frameworks and consistent tenant demographic profiles—typically supports more predictable yield realisation compared to private residential markets, though capital appreciation in the HDB sector tends to be more modest than in prime private zones.

How does the per-square-foot pricing at 24 Balam Road compare to recent HDB resale transactions in Mattar?

The S$320,000 valuation for a 646 sqft unit implies a price per square foot of approximately S$495 to S$500, a figure that should be cross-referenced against recent arm's-length transactions for comparable 2-bedroom HDB units in the Mattar locality. Property transaction databases maintained by the Urban Redevelopment Authority and private market analysts provide historical pricing data that enables buyers to verify whether this development's pricing aligns with established local benchmarks. Given the mature nature of the Mattar neighbourhood and absence of new large-scale HDB launches in the immediate vicinity, resale pricing typically tracks incremental adjustments to inflation and gradual capital appreciation rather than sudden spikes, meaning recent comparable transactions provide highly relevant pricing anchors for current market assessment.

What is the Additional Buyer's Stamp Duty (ABSD) impact if I am a Singapore Citizen purchasing this as a second residential property?

Singapore Citizens purchasing a second residential property are currently liable for Additional Buyer's Stamp Duty at a rate of 20%, calculated on the purchase price. For a property at S$320,000, ABSD would amount to S$64,000 in addition to standard Buyer's Stamp Duty and legal costs, representing a material upfront obligation that must be factored into total acquisition expense. This 20% rate applies to the full purchase price and is paid upon completion of the transaction; it substantially increases the effective cost basis for investors or upgraders and should be carefully modelled into investment return calculations or budgetary planning. Buyers should consult qualified tax advisors to understand any exemptions or deferral mechanisms that might apply to their specific circumstances, though most second residential property purchases incur the full 20% rate without mitigation.

What lease decay risk should I anticipate, and how does remaining lease duration affect resale value?

HDB lease decay represents a material consideration for any resale unit; as the lease duration shortens, market demand and financing availability both contract materially, typically resulting in value compression once fewer than 60 years remain on the lease. Properties at 24 Balam Road, being HDB stock in an established neighbourhood, carry a lease expiration at 99 years from their original construction date; buyers must verify the exact years remaining before commitment, as a property with 70 years remaining will face progressively tightening resale conditions compared to one with 80+ years. Government lease extension or top-up schemes exist but are neither automatic nor guaranteed, so purchasers should model conservative long-term appreciation scenarios and avoid extended holding periods if the lease drops significantly below 60 years, as financing options narrow and buyer interest diminishes substantially in such scenarios. This structural lease decay dynamic means that HDB properties, unlike freehold alternatives, have built-in value compression timelines that should factor into investment horizon planning.

How does proximity to Mattar MRT station enhance demand and capital appreciation for this development?

MRT adjacency is a primary demand driver for HDB resale properties; Mattar MRT's location approximately 660 metres from 24 Balam Road places the development within practical walking distance of a major public transport node with Downtown Line connectivity to employment hubs, shopping districts, and leisure destinations across Singapore. This connectivity significantly reduces commute friction for working professionals and families, supporting consistent tenant demand for rental units and sustained buyer interest in the owner-occupier market. Historically, HDB properties within 10 minutes' walk of MRT stations command pricing premiums relative to comparable units without equivalent transport access, and resale values in such zones have demonstrated greater resilience during economic downturns, as the transport accessibility remains a constant value anchor independent of broader property cycle dynamics. The maturity of Mattar as a neighbourhood combined with this MRT positioning means the development benefits from stable demand dynamics and lower downside risk compared to more peripheral HDB locations lacking equivalent transport integration.

Is 24 Balam Road suitable for high-net-worth buyers, or is it primarily targeted at first-time buyers and upgraders?

This development is authentically targeted at first-time buyer cohorts, upgraders transitioning within the HDB segment, and investors seeking steady rental yields, rather than high-net-worth individuals prioritising premium finishes or exclusive amenities. The S$320,000 price point, compact 2-bedroom configuration, and location within an established neighbourhood reflect HDB's core mandate of providing affordable, practical housing rather than luxury positioning. High-net-worth buyers typically gravitate toward private residential developments offering bespoke finishes, concierge services, and branded amenities—attributes that sit outside the HDB regulatory framework and market positioning. However, sophisticated investors comfortable with steady 2.5%–3.5% annual yields and modest capital appreciation may find the development's financial profile attractive as part of a diversified portfolio, particularly if seeking exposure to Singapore's stable, regulated HDB sector. For most affluent buyers, 24 Balam Road would represent a portfolio addition rather than a primary residential focus.

What are typical TDSR implications and financing headroom for buyers at the S$320,000 price point?

The Total Debt Servicing Ratio (TDSR) constraint, set at a maximum of 60% of monthly gross household income by financial regulators, typically permits buyers with monthly household income of approximately S$5,300 or above to service a S$320,000 mortgage without breaching TDSR limits, assuming standard 30-year repayment terms at prevailing interest rates. This affordability threshold is well within reach for dual-income professional households and many single-income earners, particularly when supported by HDB's favourable loan terms and CPF withdrawal eligibility. Buyers utilising CPF for both downpayment (typically 10–20% of purchase price) and monthly mortgage payments often experience substantially improved financing headroom, as CPF contributions reduce the required liquid cash outlay and monthly cash servicing obligation relative to private bank financing. Prospective purchasers should engage HDB's loan eligibility calculators and consult financial advisors to model precise servicing capacity within their specific income profile, lease duration, and financing mix, recognising that properties priced at this level generally offer manageable debt servicing for middle-income Singapore households.

How does 24 Balam Road compare to competing HDB resale stock in Mattar and adjacent neighbourhoods?

The Mattar locality contains dispersed HDB resale units across multiple estates and addresses, rather than concentrated within single large projects; this fragmented competitive landscape means that 24 Balam Road competes against multiple scattered 2-bedroom and 3-bedroom units across the district rather than against a single dominant comparable development. Adjacent neighbourhoods including Joo Chiat, Katong, and Tanjong Rhu offer private residential alternatives at substantially higher price points (typically S$800,000 and upward) and also contain dispersed HDB resale stock with varying lease durations and condition profiles. The absence of new large-scale HDB development immediately surrounding 24 Balam Road provides a structural supply advantage, as competition remains limited to existing resale stock without the volume and pricing pressure sometimes observed when multiple new projects launch simultaneously in a constrained supply zone. Buyers should systematically compare recent transaction prices and per-square-foot valuations across 3–5 comparable 2-bedroom units in Mattar and immediately adjacent areas to establish a robust pricing baseline and ensure this development aligns with prevailing market rates.

Are there specific unit stacks or floor levels within this development that offer superior value propositions?

HDB unit desirability varies by stack location, floor level, and exposure orientation; middle stacks typically command slight pricing premiums relative to corner or edge stacks due to better sun exposure and reduced noise penetration from adjacent roads or communal areas. Lower-floor units (approximately 3–6 floors) often appeal to families with young children and elderly residents prioritising proximity to ground-level amenities, whilst higher-floor units may attract buyers valuing privacy and reduced ground-level noise, though any premium is usually modest. Units facing quieter directions (typically rear-facing in Mattar's street configuration) tend to price slightly above busy-road-facing equivalents, though absolute premiums remain modest compared to private residential markets. For investment-focused purchasers prioritising rental appeal, middle-stack, mid-floor units with neutral orientations historically demonstrate the broadest tenant appeal and highest rental absorption rates, as they balance practical liveability with affordability. Prospective buyers should inspect specific units and conduct floor-plan reviews within this development to identify orientation, stack position, and view characteristics that align with personal preferences and likely resale appeal.

What future supply pipeline or neighbourhood changes might affect 24 Balam Road's long-term appreciation trajectory?

Mattar represents a mature, consolidated residential neighbourhood with limited remaining land for new large-scale HDB development, suggesting that future competitive supply pressure will remain modest compared to emerging growth precincts undergoing significant infrastructure investment or master-planned redevelopment. However, government urban renewal initiatives, including potential neighbourhood rejuvenation programmes or future MRT line extensions, could meaningfully enhance accessibility and investment appeal; buyers should monitor Urban Redevelopment Authority announcements and transport authority plans to anticipate such developments. The demographic profile of Mattar—characterised by established residents and families—suggests stable, gradual residential demand without speculative volatility, meaning long-term capital appreciation will likely track inflation and incremental neighbourhood improvements rather than deliver sharp upside associated with emerging growth zones. Any future policies affecting HDB lease renewal, property tax structures, or owner-occupancy requirements could influence the development's investment returns, though such changes typically apply economy-wide rather than district-specific. Overall, the absence of imminent major supply disruption positions 24 Balam Road favourably for steady medium-term value preservation, though buyers should remain attentive to government policy signals and neighbourhood infrastructure announcements.

[For Sale] Hdb Flat At 24 Balam Road — From S$320K