Type

Units

Min Area

Price Range

2 BR

646 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 CC10 MacPherson 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 Balam Road: HDB Living in Established MacPherson

22 Balam Road represents a well-established residential offering in MacPherson, one of Singapore's mature public housing precincts. Located in the central region, this development provides practical housing solutions for multiple buyer segments, from first-time purchasers entering the property market to upgraders seeking the balance of affordability and convenience. The development comprises compact two-bedroom units, each approximately 646 square feet in area, distributed across various floor levels within the building stock.

The proximity to CC10 MacPherson MRT Station—situated just 570 metres or roughly a 7-minute walk away—positions this development at a considerable advantage for commuters. Access to the Circle Line enables swift transit to major employment centres, retail destinations, and educational institutions across Singapore. This reliable transport connection forms a cornerstone of the development's appeal, particularly for working professionals and families who prioritise accessibility over distance-based travel time.

Location and Connectivity

MacPherson has evolved into a vibrant neighbourhood characterised by mature infrastructure, established amenities, and a stable residential community. The surrounding precinct includes local markets, hawker centres, and small retail outlets that serve day-to-day needs. Larger shopping and dining destinations remain within easy reach via public transport, ensuring residents enjoy both the quiet of a residential enclave and the convenience of urban amenities.

The Circle Line connectivity at MacPherson MRT Station represents a strategic transport asset. The station sits at the intersection of multiple bus routes, extending the development's reach beyond the rail network. This multi-modal transport ecosystem appeals strongly to households that rely on public transport for commuting, school runs, and leisure activities. The MRT access also underpins the development's resilience in terms of long-term capital appreciation and rental demand.

Unit Composition and Layout

The development features two-bedroom configurations, a popular category within Singapore's HDB stock that balances living space with practical affordability. At approximately 646 square feet per unit, these flats offer sufficient space for small families, young professionals, and investors seeking rental yield. The compact footprint also translates to lower utility consumption and maintenance costs—practical considerations for owner-occupiers managing household budgets.

Units are distributed across multiple floors within the building structure, offering variety in terms of light, views, and natural ventilation. Lower-floor units may appeal to families with young children or elderly residents seeking reduced reliance on lift services, whilst higher floors often command marginal premiums for perceived privacy and reduced street noise. The mix of floor levels within the building ensures a diverse range of preferences can be accommodated.

Investment and Ownership Considerations

For investors evaluating this development, several factors merit attention. The two-bedroom format aligns with robust rental demand across Singapore, particularly from expatriates, young working couples, and small families. The proximity to MacPherson MRT Station enhances the rental appeal, as prospective tenants frequently prioritise convenient transport access. Estimated rental yields on two-bedroom HDB flats in established precincts such as MacPherson have historically ranged between 3 and 5 percent annually, although actual returns depend on specific unit positioning, condition, and prevailing market rental rates.

Owner-occupiers and investors should be aware that 22 Balam Road is HDB stock, which carries leasehold tenure. The lease duration—typically 99 years from the completion of the building—bears relevance to long-term value. As the lease approaches its final decades, the property's resale value and financing accessibility may diminish, as financial institutions impose stricter lending criteria. However, the Singapore government's en bloc renewal policies and Build-to-Order (BTO) initiatives suggest a sustained commitment to maintaining HDB stock value, mitigating some long-term depreciation risk.

Financing and Affordability

The pricing of units at 22 Balam Road aligns with the broader HDB resale market in central Singapore. At typical asking prices, Total Debt Service Ratio (TDSR) limits—currently capped at 60 percent of gross monthly income—generally favour buyers with household incomes above SGD 4,000 monthly, assuming modest leverage. First-time buyers may benefit from Housing and Development Board grants and concessional financing, which can reduce the effective purchase price and monthly mortgage obligations. Buyers who already own a property and seek to purchase a second residential property should account for Additional Buyer's Stamp Duty (ABSD) at 20 percent of the purchase price, a significant cost that materially affects overall acquisition expenses and investment returns.

Lease Decay and Resale Dynamics

HDB flats differ from private condominiums in their lease structure and resale characteristics. As the lease ages, financial institutions become more cautious about loan tenure, often limiting mortgages to a maximum of 30 years remaining on the lease. This constraint effectively restricts buyer pools to those capable of significant cash down payments, gradually reducing liquidity and resale demand as the lease contracts below 60 years. Whilst 22 Balam Road's relative youth as a development positions it favourably, prospective long-term investors should factor in potential lease-related headwinds that may emerge 20 to 30 years hence.

The Singapore government's willingness to pursue large-scale en bloc renewal programmes, such as the Selective En Bloc Redevelopment Scheme (SERS), offers a degree of downside protection. Although not guaranteed for any specific development, the precedent suggests that older HDB clusters in well-located precincts may qualify for rejuvenation, preserving neighbourhood vitality and property values. Such interventions typically provide affected owners with favourable buyback offers, though timing and specific terms vary case by case.

Market Positioning and Comparables

Within the MacPherson and adjacent precincts, 22 Balam Road competes with other HDB flat offerings of similar vintage and size. Recent resale transactions for two-bedroom HDB units in the area have ranged between SGD 420 and 520 per square foot, reflecting the desirability of central locations balanced against lease tenure and age-related factors. Pricing at 22 Balam Road typically reflects prevailing market conditions, with marginal premiums for units on higher floors, units with better light orientation, or those with recent renovations or upgrading work.

Private properties in adjacent areas such as Serangoon and Ubi command substantially higher prices per square foot, reflecting the freehold or longer-lease tenure advantages and typically more generous unit sizes. This price differential reinforces 22 Balam Road's positioning as an entry-level or upgrading alternative for budget-conscious buyers who prioritise transport access and location over additional space.

Suitability for Different Buyer Profiles

First-time buyers with household incomes in the SGD 4,500 to 6,500 range often find 22 Balam Road attractive, given its proximity to employment centres, established neighbourhood character, and HDB financing advantages. Young professionals and couples benefit from the compact two-bedroom layout and the short walk to MacPherson MRT Station, reducing commute times and transport costs. Upgraders moving from smaller HDB units or rental accommodation appreciate the balance of space, cost, and connectivity offered by this development.

Investors seeking steady rental income and capital preservation recognise the strong tenant demand for central HDB flats with reliable MRT access. The two-bedroom format appeals particularly to corporate relocations and working couples without dependent children, a demographic segment with relatively stable and above-average rental budgets. However, investors must weigh potential lease decay impacts and factor ABSD costs when modelling investment returns, particularly if this represents a second residential property acquisition.

Future Supply and District Growth

The MacPherson and surrounding areas—including Serangoon, Ubi, and Paya Lebar—remain subject to ongoing urban planning and selective renewal initiatives. The completion of the Cross Island Line (CRL) extension in the coming years will further enhance transport connectivity throughout the region, potentially lifting both rental demand and capital values. However, new HDB BTO launches and private residential projects in nearby precincts could introduce alternative options, affecting pricing dynamics and buyer traffic at established developments such as 22 Balam Road.

The wider district's maturity suggests that major new residential supply will likely be incremental rather than transformative. Consequently, 22 Balam Road's existing housing stock is unlikely to face displacement or rapid obsolescence, supporting both owner-occupier and investor confidence over medium-term horizons.

Frequently Asked Questions

What rental yield can investors expect from a 2-bedroom unit at 22 Balam Road?

Two-bedroom HDB flats in established precincts such as MacPherson typically achieve rental yields between 3 and 5 percent per annum, depending on specific unit characteristics, floor level, recent upgrades, and prevailing market rental rates. A unit positioned near the MRT station or with superior light and ventilation may command a rental premium within the market. Investors should obtain current comparable rental data from the precinct and factor in ongoing management expenses, property maintenance, and periods of vacancy when modelling expected returns. The proximity to MacPherson MRT Station generally supports stronger tenant demand relative to units in less connected neighbourhoods, thus underpinning mid-range yields within the broader HDB resale market.

How does 22 Balam Road's pricing compare to recent HDB transactions in the MacPherson area?

Recent resale transactions for two-bedroom HDB flats in MacPherson have transacted between approximately SGD 420 and 520 per square foot, with variations reflecting floor level, orientation, lease remaining, and renovation status. 22 Balam Road units at 646 square feet would thus typically trade in the SGD 273,000 to 336,000 range, subject to specific unit amenities and market conditions at the time of transacting. Units commanding the higher end of this range typically feature higher floor positioning, superior light orientation, or recent upgrading work. Buyers evaluating this development should undertake comparable transactions analysis for units of similar vintage, lease duration, and floor level within the immediate precinct to verify fair market pricing.

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

A Singapore Citizen purchasing 22 Balam Road as a second residential property incurs Additional Buyer's Stamp Duty (ABSD) at the current rate of 20 percent applied to the purchase price. On a SGD 300,000 unit, this equates to SGD 60,000 in additional duty—a substantial cost that materially reduces net investment returns and increases total acquisition expense. ABSD is payable at the same time as standard Buyer's Stamp Duty, and this combined duty obligation must be factored into cash requirements and financing headroom modelling. First-time property buyers are exempt from ABSD, making 22 Balam Road a more economically attractive proposition for that buyer segment compared to seasoned property owners acquiring second residential assets.

What lease decay and resale value risks should investors consider with this HDB development?

22 Balam Road, as an established HDB flat development, carries leasehold tenure typically granted for 99 years from the original completion date. As the lease contracts below 80 years, financial institutions begin to apply stricter lending criteria, effectively restricting the buyer pool and reducing liquidity in the resale market. Properties with leases below 60 years face particular headwinds, as many banks limit mortgage tenures to a maximum of 30 years, requiring substantially higher cash down payments from prospective buyers. Whilst Singapore's government has demonstrated willingness to support renewal of well-located HDB precincts through SERS and similar programmes, no guarantee applies to specific developments. Investors should adopt a conservative stance, assuming potential lease-related depreciation in the final 20 to 30 years of ownership, and structure their investment horizon and exit strategy accordingly.

How does proximity to MacPherson MRT Station affect demand and capital appreciation at 22 Balam Road?

Proximity to MacPherson MRT Station (CC10) on the Circle Line serves as a material positive factor for both rental demand and capital appreciation trajectories. The 570-metre walk (approximately 7 minutes) positions the development well within the 400-metre to 600-metre 'sweet spot' where MRT accessibility materially influences buyer and tenant preferences. Properties within this proximity band typically experience stronger demand, wider buyer pools, and more resilient resale values compared to properties beyond comfortable walking distance. The Circle Line's ongoing expansion and integration with future transport infrastructure, such as the Cross Island Line extension, further reinforce the long-term value of MRT-proximate locations. Investors and owner-occupiers should recognise that this transport advantage has likely been partially capitalised into current market pricing, but the sustained appeal of convenient public transport suggests that such accessibility will continue to underpin demand and resale prospects over extended ownership horizons.

Which buyer profiles are best suited to 22 Balam Road, and why?

First-time property buyers with household incomes between SGD 4,500 and 7,000 represent an ideal demographic for 22 Balam Road, as they benefit from HDB concessional financing, CPF withdrawal eligibility, and exemption from ABSD. Young working professionals and couples without children appreciate the compact two-bedroom format, proximity to MacPherson MRT Station, and the efficiency of a smaller, lower-maintenance property footprint. Upgraders transitioning from smaller HDB units or rental accommodation find the development attractive for its established neighbourhood character, central location, and proven rental demand. Yield-focused investors seeking steady income streams recognise the robust rental market for two-bedroom HDB flats in well-connected precincts, although they must account for ABSD costs and factor lease decay considerations into longer-term investment horizons. Properties at 22 Balam Road are less suitable for luxury-seeking buyers or investors targeting high-growth capital appreciation, as HDB stock typically appreciates more conservatively than private residential assets in comparable locations.

What TDSR and financing headroom considerations apply to buyers at typical 22 Balam Road price points?

At typical asking prices between SGD 300,000 and 350,000, and assuming HDB concessional loan rates around 2.6 percent with a 25-year tenure, monthly mortgage servicing costs range approximately SGD 1,300 to 1,500. Under the current Total Debt Service Ratio (TDSR) cap of 60 percent, this implies a minimum required gross monthly household income of approximately SGD 2,200 to 2,500 to qualify comfortably for financing. However, first-time buyers may benefit from more favourable loan terms and CPF contributions that effectively reduce required cash down payments and improve liquidity. Second-property buyers must account for the 20 percent ABSD cost—adding SGD 60,000 to 70,000—which significantly increases total cash outlay and constrains financing capacity for applicants with limited savings. Prospective buyers should obtain a pre-approval letter from their bank or HDB's financial institution to confirm exact lending capacity given their personal circumstances, as TDSR calculations incorporate all existing debt obligations, not merely the mortgage for this property.

How does 22 Balam Road compare to competing HDB developments in adjacent precincts?

Within the broader MacPherson, Serangoon, and Ubi areas, 22 Balam Road competes with other HDB flat developments of similar vintage and size, including units at nearby addresses such as Balam Road clusters, Jalan Rajah precincts, and Serangoon North estates. Relative to these comparables, 22 Balam Road's positioning is determined by specific floor levels, renovation status, orientation, and unit-specific amenities rather than material differences in estate infrastructure or location. Private residential developments in Serangoon and adjacent areas command significantly higher prices per square foot (often SGD 800 to 1,200 psf), reflecting freehold tenure, larger unit sizes, and premium facilities, thereby situating 22 Balam Road as an entry-level alternative rather than a direct competitor. When comparing to other two-bedroom HDB options in the immediate precinct, buyers should focus on floor level, light exposure, recent upgrading, and residual lease duration as differentiating factors, since these characteristics meaningfully influence price positioning and long-term investment outcomes.

Which unit stack or floor level typically offers the best value at 22 Balam Road?

Mid-level floors (approximately levels 7 to 15) often represent the optimal balance of value and livability at 22 Balam Road. Lower floors (levels 1 to 6) frequently trade at discounts of 3 to 8 percent relative to mid-level units, primarily due to perceived noise, reduced privacy, and limited natural light, though they appeal to elderly residents or families with very young children who wish to minimise lift dependency. Higher floors (levels 16 and above) command marginal premiums of 2 to 5 percent for enhanced light, views, and perceived privacy, though these premiums must be weighed against the marginal utility gained. For value-conscious buyers, lower mid-level floors (levels 7 to 10) often represent sweet spots, offering sufficient height for natural light and privacy without the premium pricing of higher floors. Investors should note that rental demand tends to be relatively uniform across floor levels, suggesting that lower-floor units may deliver superior rental yields despite marginally lower unit prices, making them strategically attractive for income-focused investors with tolerance for lower capital appreciation.

What future supply pipeline and district growth factors should influence investment decisions at 22 Balam Road?

The MacPherson and surrounding central Singapore precincts are subject to gradual, rather than transformative, development in the coming decade. New BTO HDB projects in nearby areas such as Serangoon and future private residential launches may introduce alternative options, potentially moderating pricing pressure on existing developments such as 22 Balam Road, though the maturity and proven desirability of the established precinct provide downside protection. The completion of the Cross Island Line extension through the region in the mid-2030s will substantially enhance transport connectivity, potentially lifting both rental yields and capital values across the precinct. Selective renewal initiatives and SERS programmes remain possible, though not guaranteed, and could result in redevelopment of older clusters, further supporting the long-term vitality of the neighbourhood. Investors should view 22 Balam Road as a relatively stable, defensible asset within an established precinct unlikely to face rapid supply shocks or neighbourhood decline, though upside appreciation potential may be more modest than in emerging growth precincts. The district's maturity and proven residential character suggest that capital value is more likely to track inflation and prevailing HDB market conditions rather than to deliver above-market growth.

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