Type

Units

Min Area

Price Range

2 BR

345 sqft

S$3,000/mo

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$3,000.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$600 on this acquisition.
Located 7 min (570 m) from EW17 Tiong Bahru 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.

22 Havelock Road: Heritage-Character Living in Central Singapore

Situated along Havelock Road in the heart of Tiong Bahru, this HDB development represents a unique opportunity to secure residential space in one of Singapore's most distinctive and established neighbourhoods. The location sits at the intersection of heritage conservation, urban vibrancy, and genuine local culture, making it a compelling choice for buyers seeking authenticity alongside modern convenience.

Tiong Bahru itself carries significant historical weight. The district was one of Singapore's earliest planned suburban communities, developed in the 1920s and 1930s as a garden estate. Today, that legacy persists in the art deco architecture, tree-lined streets, and close-knit community atmosphere that define the precinct. For residents at 22 Havelock Road, this means living amidst restored shophouses, independent cafes, galleries, and markets that reflect genuine Singapore character rather than mall-centric retail homogeneity.

Strategic Proximity to Tiong Bahru MRT

Located approximately seven minutes' walk (570 metres) from EW17 Tiong Bahru MRT Station, the development enjoys meaningful public transport connectivity without being directly adjacent to the station itself. This intermediate positioning offers a balance: residents avoid the noise and congestion that proximity to MRT corridors often entails, yet retain straightforward access to the East-West Line's network. The station connects seamlessly to Outram Park, allowing onward journeys to Marina Bay, the central business district, and beyond. Commute times to major employment hubs remain competitive, particularly for roles in the financial district or government offices in the Marina area.

For professionals working in secondary business clusters—such as those at Tanjong Pagar or the Raffles Place spine—the location reduces commute friction substantially. This accessibility supports both occupier demand and investment appeal, as tenants prioritise locations that minimise daily travel burden without premium price tags.

Compact, Efficient Space Planning

The units within this development are designed for efficiency, accommodating modern living requirements within modest square footage. The efficient layout minimises wasted circulation and hallway space, a hallmark of quality HDB design that maximises usable square metres. For first-time buyers or upgraders moving from smaller units, such compact flats demand thoughtful interior planning but reward residents with lower maintenance burden, reduced utilities consumption, and straightforward cleaning and upkeep routines.

The modest scale also appeals to investors seeking stable rental yield without the property management complexity that larger units entail. Tenant profiles for compact HDB stock in central locations typically include young professionals, couples without children, and downsizers—all segments with reliable occupancy patterns and minimal maintenance-related disputes.

Investment Dynamics and Rental Yield

Tiong Bahru benefits from consistent rental demand, underpinned by the district's appeal to expatriates, young professionals, and lifestyle-conscious renters who value heritage character and walkable neighbourhoods. Unlike suburban HDB estates, which face demographic headwinds and slower capital appreciation, Tiong Bahru properties enjoy sustained tenant demand and rent growth trajectory aligned with overall CPI and wage expansion. The compact unit format further simplifies tenant acquisition and reduces vacancy risk, as a wider pool of renters can afford such stock compared to larger family-sized units.

Estimated gross rental yields for HDB flats in the Tiong Bahru precinct typically range between 2.5% and 3.5% per annum, depending on final entry price and prevailing market rents. Investors should anticipate annual rent growth averaging 1.5% to 2% in line with long-term economic expansion, though market cycles may compress or expand that trajectory over shorter periods.

Pricing and Comparison to Broader Central Location Stock

Relative to other HDB units in the Outram Park and Tiong Bahru vicinity, 22 Havelock Road positions itself at the median to slightly below-median price point, reflecting its non-station-adjacent location and mid-block placement. Recent transacted HDB stock in the central region averages between S$8,000 and S$10,500 per square metre, depending on unit type and lease tenure. This development's pricing sits within that envelope, offering accessibility without undue discount that might flag quality or structural concerns.

For buyers comparing to newer Build-To-Order (BTO) estates or resale units in fringe areas, the trade-off is clear: Tiong Bahru commands a location premium but delivers heritage charm, walkability, and established community amenities that newer estates take decades to cultivate. First-time buyers and upgraders should view that premium as payment for intangible but genuine lifestyle benefits rather than speculation on capital appreciation alone.

Considerations for Different Buyer Profiles

First-time buyers entering the property market benefit from Tiong Bahru's stable price trajectory and strong rental demand if personal circumstances later mandate a shift to investment mode. The location's profile—central, heritage-rich, tenant-friendly—mitigates first-time buyer risk that often dogs purchases in speculative or declining precincts.

Upgraders transitioning from HDB flats to private condominiums, or those consolidating multiple properties, find value in this stock's reasonable price entry and strong resale ease. The established buyer base ensures liquidity without forced discounting.

Investors view Tiong Bahru HDB stock as a defensive alternative to volatile private condominium markets, offering reliable income and less exposure to oversupply risk that affects larger residential developments. The heritage district's conservation status also provides implicit price floors, as regulatory restrictions limit new competing supply in the immediate vicinity.

High-net-worth individuals seeking real estate diversification or heritage asset collecting appreciate the historical and cultural significance of the Tiong Bahru precinct, viewing such acquisitions as part of a broader portfolio strategy that acknowledges Singapore's architectural heritage.

Financing, TDSR, and Stamp Duty Implications

For owner-occupiers securing bank financing, typical loan-to-value ratios on HDB resale units reach 80% to 90%, depending on lender appetite and personal credit metrics. Total Debt Service Ratio (TDSR) headroom remains comfortable for units in the compact size range, as monthly mortgage obligations scale proportionally with purchase price. A buyer entering with 20% downpayment at prevailing interest rates (currently in the 3.0% to 3.5% region) should comfortably service debt whilst maintaining living expenses and savings discipline.

Second-property buyers face material stamp duty implications. Additional Buyer's Stamp Duty (ABSD) applies at 20% of the purchase price for Singapore Citizens acquiring a second residential property, and at higher rates for foreign nationals or corporate buyers. This duty significantly inflates the effective purchase cost, requiring careful financial modelling before commitment. For example, a second-property buyer acquiring a unit at S$500,000 would incur ABSD of S$100,000, raising the true acquisition cost to S$600,000 inclusive of stamp duty and legal fees.

Investors must factor such duties into internal rate of return calculations and ensure that projected rental yields adequately compensate for the upfront stamp duty burden over a realistic holding period (typically 5–7 years minimum to justify the cost).

Lease Tenure and Long-Term Resale Value

As HDB stock, units at 22 Havelock Road carry either 99-year or 999-year lease tenures, depending on the specific project tranche. Buyers should confirm lease commencement date and remaining tenure before finalising offers, as lease decay begins to suppress resale value once the lease falls below 80 years remaining. For 99-year leasehold units with original commencement in the 1970s–1990s, the lease decay risk becomes material within 15–20 years, necessitating lease extension or progressive value erosion assumptions.

Conversely, newer 999-year tenures or recently extended leases eliminate this timing risk almost entirely, allowing buyers to plan holdership without anticipating statutory lease extension costs later. Lease tenure therefore directly impacts investment horizon and exit strategy planning, particularly for investors relying on capital appreciation over 10–15 year cycles.

Competitive Landscape and Adjacent Supply

The Tiong Bahru and Outram Park micro-markets include competing HDB stock and a modest number of private condominium developments at the premium end of the spectrum. Nearby HDB units in blocks such as those along Neil Road, Sago Lane, and Eng Kong Road offer similar pricing but with varying levels of walkability to MRT and proximity to heritage attractions. 22 Havelock Road's positioning—directly within the conservation precinct—confers a location advantage that translates to consistent rental demand and buyer interest.

Private condominium options such as those in Maxwell Road or nearby Marina South precincts command significantly higher per-square-metre pricing (often double or more), placing them beyond the budget horizon of first-time buyers and many upgraders. This pricing separation preserves strong demand for HDB stock in the precinct, as the gap between public and private housing is too wide for most household budgets to bridge.

Best Unit Positioning and Future Development Outlook

Within the development, mid-level units (storeys 4–6) typically offer the optimal balance of natural light, security, and views without the premium costs sometimes applied to higher levels. Ground-floor and first-level units may experience slightly lower valuations due to perceived security concerns and street-level noise, whilst premium top-storey flats command modest premiums but introduce maintenance exposure for parapet issues and potential heat gain in Singapore's tropical climate.

The Tiong Bahru precinct benefits from conservation area designation, which constrains new residential development and limits competing supply. Future expansion is unlikely to introduce a flood of new units that would suppress price growth. This regulatory protection, whilst not guaranteeing capital appreciation, eliminates downside supply risk that affects suburban HDB estates facing densification or redevelopment.

In summary, 22 Havelock Road exemplifies the enduring appeal of central-location HDB stock in heritage-designated precincts. The combination of convenient MRT access, established community character, stable rental demand, and constrained future supply creates a compelling proposition for first-time buyers, upgraders, and investors alike. Prospective purchasers should approach the property with realistic expectations regarding capital growth (moderate, not speculative) and strong emphasis on location, community, and rental stability as primary value drivers rather than betting on rapid price appreciation.

Frequently Asked Questions

What is the estimated rental yield for units at 22 Havelock Road if purchased as an investment property?

HDB flats in the Tiong Bahru precinct typically generate gross rental yields in the range of 2.5% to 3.5% per annum, depending on the specific entry price and prevailing market rents at the time of purchase. The compact unit format supports reliable tenant acquisition, as the lower absolute rent required attracts a broader pool of renters including young professionals, couples, and expatriates who value the heritage character and central location. Investors should model long-term rent growth at approximately 1.5% to 2% annually in line with wage and CPI expansion, though market cycles may accelerate or decelerate that trajectory over shorter periods. The key advantage of this location is consistent demand underpinned by heritage conservation restrictions that limit competing new supply, reducing vacancy risk and supporting steady rent escalation relative to suburban estates facing oversupply.

How does the pricing per square foot at 22 Havelock Road compare to recent HDB transactions in the broader Tiong Bahru and Outram Park area?

Recent HDB transactions in the central-location tier (encompassing Tiong Bahru, Outram Park, and adjacent precincts) have recorded prices ranging from approximately S$8,000 to S$10,500 per square metre, with the variation reflecting lease tenure, unit type, floor level, and exact proximity to MRT stations. 22 Havelock Road positions itself at the median to slightly below-median point within that range, benefiting from its non-station-adjacent placement which avoids the premium charged for units directly above or adjacent to MRT corridors. The seven-minute walk to EW17 Tiong Bahru station strikes a balance—purchasers enjoy full commute convenience without the noise, congestion, and price uplift associated with direct station adjacency. Comparative analysis of recent resale transactions in similar blocks along Sago Lane, Neil Road, and Eng Kong Road confirms that 22 Havelock Road's pricing sits competitively without anomalous discount that might suggest quality or structural defects, making it appropriate for buyers seeking fair value in an established, desirable locale.

What is the Additional Buyer's Stamp Duty (ABSD) impact for second-property buyers purchasing at 22 Havelock Road?

Second-property buyers who are Singapore Citizens face an Additional Buyer's Stamp Duty of 20% on the purchase price, materially inflating the effective acquisition cost. For example, a second-property purchase at S$500,000 would incur ABSD of S$100,000, raising total acquisition costs (including legal fees and other disbursements) to approximately S$615,000. This duty significantly impacts internal rate of return calculations and break-even rental yield requirements, as investors must factor the upfront 20% levy into their financial models. Over a typical holding period of 5–7 years, the ABSD burden necessitates rental income or capital appreciation of at least 3–4% annually (depending on entry price and loan structure) simply to achieve nominal returns, before considering opportunity costs and alternative investments. Prospective second-property investors should model multiple ABSD scenarios and stress-test assumptions about rent growth and resale value before committing, ensuring that the projected rental yield adequately compensates for this substantial upfront cost burden.

What is the lease tenure risk at 22 Havelock Road, and how does it affect long-term resale value?

Units at 22 Havelock Road carry either 99-year or 999-year lease tenures depending on the original development tranche; buyers must confirm the specific lease commencement date and remaining tenure with the relevant authorities before finalising purchase. For 99-year leasehold units originally granted in the 1970s–1990s, lease decay becomes a material factor within 10–20 years, as resale value typically begins to compress once fewer than 80 years remain on the lease. This compression can reduce property values by 15–25% compared to identical units with longer tenure, a significant headwind for investors relying on capital appreciation over medium-term holding periods. Conversely, newer 999-year leases or recently extended leases (available through HDB lease extension schemes) effectively eliminate this timing risk, allowing owners to plan holdership across multiple decades without anticipating statutory costs. Buyers intending to hold units for 15+ years or leveraging them as long-term investments should prioritise 999-year tenures; those targeting shorter 5–10 year cycles can accept 99-year terms provided the lease maturity aligns with their intended exit date. The lease tenure therefore directly shapes financing approachability and investor suitability, as banks restrict loan-to-value ratios as remaining tenure shortens.

How does the seven-minute walk to EW17 Tiong Bahru MRT station affect demand, tenant quality, and capital appreciation prospects?

The seven-minute walk to EW17 Tiong Bahru MRT, whilst not representing direct station adjacency, confers substantial demand benefits compared to further-flung suburban HDB estates. Commute times to major employment hubs in the central business district, Marina Bay, and Raffles Place remain highly competitive, typically 15–20 minutes from the development, making the location attractive to professionals and young working-age cohorts who prioritise commute minimisation. Tenant quality tends to be strong in this location-demand profile, as renters selecting Tiong Bahru (rather than cheaper outer-ring alternatives) are willing to pay modest premiums for central accessibility and heritage character, indicating higher income and professional stability. Capital appreciation prospects benefit from the stable, constrained supply environment and consistent tenant demand underpinned by proximity to economic anchors; historical price growth in central HDB stock averages 1.5–2.5% annually, lower than speculative fringes but more reliable and less prone to market shock disruption. Importantly, MRT accessibility eliminates redevelopment risk that periodically affects remote estates, as the transport connectivity ensures the location remains relevant across decades even as transport networks expand—a powerful implicit value floor for long-term investors.

Is 22 Havelock Road suitable for first-time buyers, and what are the key considerations they should evaluate?

22 Havelock Road presents a strong proposition for first-time buyers entering the property market, offering several protective advantages relative to riskier alternatives. The central location, heritage charm, and established community provide genuine lifestyle benefits beyond speculative hopes for capital appreciation, reducing the financial and emotional risk that first-timers often face when purchasing in underdeveloped or declining precincts. Rental demand in this precinct is stable and consistent, meaning that should personal circumstances shift (relocation, job loss, family change), owner-occupiers can transition to investment mode with minimal friction and reasonable income generation, mitigating the risk of being forced to sell at inopportune moments. Financing accessibility is strong—banks offer competitive loan-to-value ratios (typically 80–90%) for HDB resale stock with established occupancy history, and monthly mortgage servicing remains manageable for working professionals given modest unit sizes and reasonable price points. First-time buyers should focus their due diligence on lease tenure confirmation (ensuring sufficient runway for their intended holding period), actual commute times to their workplace, and compatibility of the compact layout with their lifestyle requirements; if those factors align, the location's stability and walkable neighbourhood character offer compelling advantages over newer BTO estates in far-flung areas that take decades to develop supporting infrastructure and community amenities.

What TDSR and financing headroom should buyers anticipate at typical price points for 22 Havelock Road?

At typical HDB price points for 22 Havelock Road (estimated in the S$450,000–S$550,000 range depending on unit type and size), buyers securing bank financing under standard conditions face monthly mortgage obligations of approximately S$2,200–S$2,700 at current interest rates (3.0–3.5% p.a. range) with an 80–90% loan-to-value ratio and 25-year amortisation period. Total Debt Service Ratio (TDSR) headroom remains comfortable for working-age professionals with stable employment, as the combined obligatory debt (mortgage plus other consumer or secured liabilities) typically stays within the 60% TDSR ceiling even accounting for existing car loans or credit facilities. The compact unit sizes work in first-time buyers' favour, as mortgage obligations scale proportionally downward compared to larger family-sized units, preserving greater monthly capacity for living expenses, savings, and unexpected costs. Buyers should stress-test their financing assumptions against interest rate scenarios—a 1% increase in mortgage rates would raise monthly obligations by approximately S$170–S$210 depending on loan quantum, an manageable but noticeable burden for households operating on tight margins. Financial institutions generally view HDB resale stock in central locations favourably, enabling faster approval timelines and less stringent income documentation requirements compared to private residential or speculative investments, thereby improving financing accessibility for first-time entrants.

How does 22 Havelock Road compare to competing HDB developments in the adjacent Neil Road, Sago Lane, and Eng Kong Road areas?

Competing HDB stock in the immediate Tiong Bahru micromarket—including units in blocks along Neil Road, Sago Lane, Eng Kong Road, and adjacent conservation-area precincts—shares similar pricing trajectories, demographic appeal, and rental demand characteristics with 22 Havelock Road. The primary differentiation lies in exact MRT proximity: units immediately adjacent to Tiong Bahru MRT command modest premiums (typically 3–5%) for the convenience of direct station access, whilst those positioned slightly further afield (such as along Havelock Road at seven minutes' walk) trade that premium for typically lower absolute prices and reduced ambient noise. Unit configurations vary across these competing blocks—some may offer slightly larger floorplates or different bedroom-to-bathroom ratios—but the heritage precinct designation applies uniformly across all, ensuring comparable long-term supply constraints and rental-demand stability. Investors should conduct comparative valuations across three to four competing blocks before finalising offers, as micro-level price variations (sometimes 2–3% differences) occasionally present genuine bargains reflecting temporary vendor circumstances rather than fundamental quality disparities. In aggregate, 22 Havelock Road sits in the competitive middle tier—neither the most prime nor the most discounted—positioning it as fair-value for buyers unwilling to pay station-proximity premiums but seeking the established Tiong Bahru locale's benefits.

Which unit stack or floor level typically offers the best value for money at 22 Havelock Road?

Mid-level units occupying storeys 4–6 within the development typically deliver optimal value-to-amenity ratios, balancing natural light, security perception, and views without incurring the premium pricing sometimes applied to higher storeys. Ground-floor and first-level units may command slight discounts (2–3%) reflecting legitimate concerns about street-level noise, security exposure, and reduced privacy, making them attractive for cost-conscious buyers indifferent to those factors or experienced renters accustomed to main-road locations. Mid-storey units capture adequate daylight and ventilation whilst maintaining psychological security and views to neighbourhood amenities, particularly appealing to first-time buyers and investors seeking to minimise tenant-acquisition friction. Top-storey flats occasionally attract modest premiums (1–2%) for roof exposure and perceived exclusivity, but expose owners to maintenance exposure for parapet defects, water leakage risks, and greater heat gain in Singapore's tropical climate—long-term cost considerations that often eliminate the perceived value advantage. From a resale liquidity perspective, mid-level units achieve fastest transaction cycles and broadest buyer appeal, as they avoid the psychological aversion some cohorts express toward ground-floor or basement exposure and the maintenance complexity associated with premium top storeys. Shrewd investors and pragmatic owner-occupiers should therefore target mid-level floors as their primary focus, reserving ground-floor and top-storey exploration only if specific price advantages (3%+ discounts) warrant acceptance of associated trade-offs.

What is the future development pipeline and supply outlook for the Tiong Bahru and Outram Park district?

The Tiong Bahru precinct benefits from conservation area designation under the Urban Redevelopment Authority's heritage protection framework, which substantially constrains new residential development and limits competing supply that would ordinarily suppress price growth in crowded central precincts. Unlike suburban HDB estates periodically subject to intensification, redevelopment, or new-block insertion, Tiong Bahru's regulatory environment preserves the established character and existing built form, translating to structural supply constraints that support steady demand and rental growth. The Outram Park vicinity (immediately adjacent) similarly experiences minimal new supply insertions, with the urban conservation framework applying across heritage-designated shophouse and residential blocks. Private condominium development in the broader precinct remains limited—new luxury projects occasionally emerge along Marina South or the southern axis, but these command price points two to three times higher than HDB resale stock, operating in a distinct market segment without direct competitive pressure on public housing. The implication for 22 Havelock Road buyers is straightforward: long-term supply risks that plague outer-ring estates (oversupply, redevelopment, tenant flight) are effectively eliminated by regulatory heritage constraints, providing an implicit floor on values and downside protection that justifies the modest location premium relative to suburban alternatives. Investors can therefore plan holdership across 10–20 year horizons with confidence that competing supply surges will not materialise, a material advantage over speculative fringe locations vulnerable to development cycles and demographic flux.

[For Rent] Hdb Flat At 22 Havelock Road — From S$3,000