Type

Units

Min Area

Price Range

2 BR

646 sqft

S$320K

Type

Units

Min Area

Price Range

Other

200 sqft

S$550/mo

Property Highlights

HDB development with 2 units currently available.
Prices currently range from S$550 to S$320K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$110 on this acquisition.
50% of current units are for sale, from S$320K; 50% are for rent, from S$550/mo.
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?

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24 Balam Road: An Established HDB Development in Mattar

Located along Balam Road in the Mattar district, 24 Balam Road represents a well-established residential development that has long served as a focal point for families, professionals, and investors seeking accessible housing within Singapore's mature public housing landscape. The development's position in this inner-ring precinct offers residents a balanced lifestyle—close enough to the central business district for professional convenience, yet embedded within a neighbourhood characterised by genuine community roots and familial appeal.

The Mattar area has evolved considerably over recent decades, transforming into a vibrant residential pocket that retains its local character whilst accommodating modern lifestyle demands. 24 Balam Road stands as part of this evolution, offering units that reflect the practical design standards and solid construction quality typical of Singapore's HDB portfolio. The building's maturity means existing residents have established networks, and the surrounding infrastructure has been refined to meet contemporary needs.

Transport Connectivity and Accessibility

One of the most significant advantages of 24 Balam Road is its proximity to Mattar MRT Station (DT25), situated approximately eight minutes' walk—or roughly 660 metres—from the development. This station sits on the Downtown Line, a critical east-west corridor that connects residents to central business districts, major employment zones, and retail precincts across Singapore. For commuters, this translates to efficient access to Marina Bay Financial Centre, Raffles Place, and onward connections to the island's eastern residential and industrial regions.

The walkable distance to Mattar MRT significantly enhances the development's appeal to working professionals and families requiring reliable public transport links. Unlike developments requiring a bus-and-feeder model, 24 Balam Road residents enjoy direct MRT access, which historically correlates with stronger rental demand, higher capital appreciation, and improved long-term resale liquidity. The Downtown Line's reliability and frequency make this particularly valuable for households with multiple working members or school-age children navigating between home and educational institutions.

Neighbourhood Character and Amenities

The Mattar district itself brims with local character. The surrounding precinct hosts established primary and secondary schools, making the area attractive to growing families. Geylang Serai, a short distance away, provides cultural and commercial vibrancy with its market, food establishments, and retail offerings. Local hawker centres throughout the neighbourhood offer convenient, affordable dining, whilst supermarkets and neighbourhood shops cater to everyday needs without requiring lengthy journeys.

Healthcare facilities, including polyclinics and clinics, are well-distributed throughout the Mattar and Geylang areas, ensuring residents have straightforward access to medical services. Community centres and public open spaces provide recreational outlets, whilst proximity to Kallang—a major sporting and leisure hub—places entertainment and active leisure within reasonable reach. This constellation of amenities reflects the neighbourhood's maturity and its appeal to a broad demographic spectrum.

Investment and Rental Considerations

For investors evaluating 24 Balam Road, the development's lease status, unit configurations, and location form the foundational pillars of investment merit. HDB flats at this location attract a diverse tenant pool: young professionals commuting via the nearby MRT, families seeking affordable public housing, and international relocations needing temporary residence. Rental demand in the Mattar area has remained relatively stable, supported by the neighbourhood's accessibility, affordability, and established community amenities.

When assessing rental yield, investors should consider that HDB units typically deliver modest gross yields compared to private residential properties, but they offer compensatory advantages: lower acquisition costs, simpler management, and more resilient tenant bases. The proximity to Mattar MRT enhances tenant retention and supports pricing power for rental negotiations. Over medium to long-term holding periods, HDB developments in accessible locations like Mattar have historically demonstrated capital preservation and modest appreciation, particularly when macro economic conditions remain stable.

Lease Tenure and Long-Term Viability

HDB flats carry lease tenures that are fundamentally different from private residential properties. Most HDB units operate under 99-year leasehold arrangements, meaning the effective ownership period is finite and diminishes over time. For buyers at 24 Balam Road, understanding the remaining lease tenure of any unit is absolutely critical; a flat with 60 years remaining has substantially different resale and financing prospects than one with 90 years left. Banks typically tighten loan approval criteria as leases decline below 60 years, and resale prices often compress once the remaining tenure falls into this zone.

Prospective purchasers should request the exact lease commencement date and calculate the years remaining before making any commitment. Government-backed lease enhancement schemes do exist for older HDB blocks, but these require application, are not automatic, and involve additional costs. Long-term investors must factor in the gradual lease decay; a unit purchased today will be substantially less valuable in 30 years if no lease extension occurs, making this a critical variable for buy-to-let strategies that assume multi-decade holding periods.

Pricing Dynamics and Comparative Value

HDB pricing in the Mattar district reflects a balance between accessibility, lease tenure, and condition. Units at 24 Balam Road are priced within competitive parameters for the area, though exact values fluctuate based on individual unit specifications, floor level, orientation, and remaining lease years. Investors and owner-occupiers should conduct comparative analysis against recent transactions in the Mattar postcode to establish fair market value and negotiate confidently.

The price-per-square-foot metric for HDB flats in this precinct typically underperforms prime central locations like Bishan or Toa Payoh, but commands a premium relative to outer-ring estates in Jurong or Bukit Batok. This positioning reflects Mattar's inner-ring location, MRT accessibility, and mature amenities. Buyers should benchmark 24 Balam Road units against comparable transactions on Joo Chiat Road, Aljunied Road, and other nearby streets to validate pricing and identify any outliers or exceptional value opportunities.

Buyer Profiles and Suitability

24 Balam Road appeals to multiple buyer archetypes. First-time homebuyers often gravitate toward HDB developments in accessible areas like Mattar, where entry prices remain lower than private residential alternatives and loan-to-value ratios are often more generous. The development's maturity and established neighbourhood amenities make it a comfortable stepping stone for couples or young families entering the property market. Upgraders moving from outer-ring HDB estates to more accessible locations frequently find units at 24 Balam Road aligned with their objectives: better connectivity, similar pricing to their existing homes, and minimal disruption to their established social networks.

Investors viewing 24 Balam Road through a rental yield lens should recognise that HDB units rarely outperform private residential properties on gross yield, but they do offer simpler management structures, lower capital deployment, and more predictable tenant bases. Owner-occupiers seeking convenience without premium pricing find the development well-suited. Upgraders from private residential to HDB for tax efficiency or downsizing also represent a meaningful segment, though this flow is less common given cultural preferences for private properties among higher-income cohorts.

Financing and Debt Service Considerations

Financing terms for HDB purchases differ materially from private residential transactions. HDB loans typically permit higher loan-to-value ratios (up to 90% under government schemes) and longer tenures (up to 30 years or until age 65, whichever is shorter). For a buyer at typical price points for 24 Balam Road units, this translates to manageable monthly debt service, provided household income and Total Debt Service Ratio (TDSR) commitments remain within bank requirements. TDSR limits typically cap borrowing at 60% of gross monthly income when accounting for all debt obligations.

At typical HDB pricing levels in the Mattar area, many first-time buyers and upgraders find monthly instalments well within their cash flow parameters, particularly if household incomes are stable. However, applicants with existing consumer debt, car loans, or other liabilities should carefully model their TDSR exposure before proceeding. Additionally, HDB purchases attract Additional Buyer's Stamp Duty (ABSD) implications: second residential property purchases by Singapore Citizens incur 20% ABSD on the purchase price, a substantial cost that must be factored into acquisition budgeting and internal rate of return calculations for investment scenarios.

District Supply Pipeline and Future Outlook

The Mattar and Geylang districts are mature, fully built-out precincts with limited new HDB construction planned. This supply constraint, when coupled with sustained demand from families, upgraders, and investors, historically supports stable or modestly appreciating prices. However, the lack of new supply also means that 24 Balam Road units will not face competition from shiny new neighbouring developments, a positive factor for resale value retention and rental appeal.

Medium-term district outlook hinges on broader economic conditions, MRT network evolution, and national HDB policy directions. No major industrial developments or disruptive zoning changes are anticipated in the Mattar area, suggesting a stable long-term trajectory. Buyers and investors should recognise that Mattar's maturity and accessibility are permanent structural features; there is no hidden upside from future infrastructure development, but equally no downside risk from oversupply or neighbourhood transition.

Conclusion

24 Balam Road represents a solidly positioned HDB development within one of Singapore's most accessible and family-friendly precincts. The eight-minute walk to Mattar MRT Station (DT25) on the Downtown Line provides a compelling transportation narrative, whilst the neighbourhood's established amenities, schools, and community infrastructure make it attractive across multiple buyer segments. Whether pursuing owner-occupation, upgrading from outer-ring estates, or seeking stable rental yield on a constrained budget, prospective purchasers at 24 Balam Road should conduct thorough due diligence on lease tenure, comparative pricing, and personal financial capacity before committing to what will be one of their most significant financial decisions.

Frequently Asked Questions

What rental yield can I realistically expect from an HDB unit at 24 Balam Road as an investment property?

HDB units at 24 Balam Road typically yield between 2% to 3.5% gross annual rental returns, depending on unit size, condition, and market cycle. Given the lower acquisition cost of HDB flats compared to private residential properties, the absolute monthly rental income may be modest—perhaps S$1,500 to S$2,500 per unit—but the gross yield on capital deployed remains stable across economic cycles. Investors should account for property tax (approximately 4% to 5% of annual value), insurance, and maintenance provisions when calculating net yield; the development's proximity to Mattar MRT Station (DT25) supports consistent tenant demand from working professionals and families, which bolsters occupancy rates and reduces vacancy risk. Most buy-to-let investors at 24 Balam Road view the investment through a longer time horizon (7–15 years), prioritising capital preservation and modest appreciation rather than aggressive yield extraction, making the modest rental return acceptable alongside the lower entry price and simpler management structure.

How does the price per square foot at 24 Balam Road compare to recent HDB transactions in the Mattar area?

The Mattar district postcode commands price-per-square-foot levels that typically range from S$700 to S$950 depending on block age, remaining lease tenure, floor level, and unit condition. 24 Balam Road, as an established development, generally positions itself within the middle to lower-middle band of this range, making it competitive against neighbouring HDB blocks on Joo Chiat Road, Aljunied Road, and Marine Parade Lane. Units with longer remaining leases (80+ years) or premium floor orientations command the upper end of the range, whilst lower floors or units with shorter leases trade toward the lower boundary. Investors should pull recent transacted comparables from the HDB Resale Price Index and cross-reference against actual agent listings to establish fair market value; the Mattar area has seen measured price appreciation of approximately 1% to 2% annually over the past decade, outperforming outer-ring estates but underperforming prime central zones like Toa Payoh or Bishan. A rigorous comparable analysis is essential before committing, as individual unit characteristics can swing value by 10% to 15% relative to the district median.

What is the Additional Buyer's Stamp Duty impact if I purchase a second property at 24 Balam Road?

For Singapore Citizens purchasing a second residential property—including HDB flats—at 24 Balam Road, Additional Buyer's Stamp Duty (ABSD) is levied at 20% of the purchase price. This means a unit acquired at S$550,000 would incur S$110,000 in ABSD alone, materially increasing the total acquisition cost and requiring careful cash flow planning. ABSD is payable upfront at the time of purchase, before stamp duty, legal fees, and agent commissions are added, so the total initial capital outlay can easily exceed the purchase price by 25% to 30%. For investors evaluating 24 Balam Road through the lens of gross yield, the ABSD cost must be factored into the return calculation; a S$550,000 purchase delivering S$1,800 monthly rental income appears to yield 3.9% on the purchase price alone, but only 3.1% when the S$110,000 ABSD cost is amortised into the effective capital deployment. Permanent Residents and foreigners face even higher ABSD rates (25% and 30% respectively), making HDB investment significantly less attractive for these segments. Buyers should consult a tax adviser or financial planner to model ABSD impact and confirm whether the investment thesis remains viable after accounting for this substantial upfront cost.

How does lease decay affect resale value and financing for units at 24 Balam Road, and what strategies exist to mitigate it?

HDB units at 24 Balam Road operate under 99-year leasehold arrangements; as the lease matures, the remaining tenure diminishes and resale value typically compresses. Once a unit's remaining lease falls below 60 years, banks tighten lending criteria, often reducing loan-to-value ratios from 90% to 70% or lower, which effectively prices out many potential buyers and narrows the buyer pool to cash purchasers or highly qualified loan applicants. The market pricing typically reflects approximately S$10,000 to S$20,000 loss in value for every year the remaining lease drops below the 60-year threshold; a unit with 55 years remaining is materially less valuable than an identical unit with 75 years, and the gap widens as years elapse. To mitigate lease decay risk, prospective buyers should prioritise units with remaining lease tenures above 80 years, ensuring the flat remains financeable and liquid for at least 20–30 years. Additionally, the HDB launched a Lease Buyback Scheme in recent years, permitting owners aged 55 and above to extend their leases in exchange for a cash payment and downgrading to a smaller flat; whilst not applicable to all scenarios, this government-backed mechanism provides a partial hedge against lease decay for long-term residents. Investors should factor lease decay explicitly into their models, assuming reduced resale value and financing flexibility as the years progress, and ideally avoid purchasing units with remaining leases below 70 years unless the acquisition price reflects a substantial discount.

How does Mattar MRT Station proximity affect demand and capital appreciation for 24 Balam Road units?

The eight-minute walk (approximately 660 metres) to Mattar MRT Station (DT25) on the Downtown Line is a primary value driver for 24 Balam Road, directly supporting both rental demand and capital appreciation. MRT-adjacent HDB developments historically outperform bus-dependent estates by 15% to 25% in price appreciation over 10-year cycles, as the accessibility premium attracts commuters, families, and investors alike. The Downtown Line connects Mattar directly to central business districts (Marina Bay, Raffles Place), educational hubs, and major employment zones, making the development attractive to professionals with unpredictable commute patterns or families requiring multi-destination accessibility. Rental demand for 24 Balam Road units is significantly bolstered by this proximity; tenants prioritise MRT access over other factors when selecting rental accommodation, and landlords benefit from higher occupancy rates and willingness to pay modest premiums for location convenience. From a capital appreciation perspective, the Mattar MRT Station and Downtown Line network are now mature and fully operational, meaning the accessibility advantage is already capitalised into current pricing; future appreciation will hinge on broader economic conditions and HDB policy rather than incremental MRT infrastructure gains. However, the established nature of this connectivity also insulates 24 Balam Road from negative surprises; there is no risk of the MRT station being relocated or service quality deteriorating, providing stable long-term value foundations.

Which buyer profiles are best suited to 24 Balam Road, and which should consider alternatives?

First-time homebuyers and young families form the natural constituency for 24 Balam Road; the accessible location, established neighbourhood amenities, and manageable entry prices align perfectly with this segment's priorities and financing capacity. Upgraders transitioning from outer-ring HDB estates (Jurong, Bukit Batok) to more central locations also find 24 Balam Road highly suitable, as it offers superior connectivity without requiring a leap into private residential pricing. Modest income investors seeking stable, low-maintenance rental assets appreciate the simplified HDB management landscape and consistent tenant demand. However, affluent buyers or high-net-worth individuals should carefully evaluate whether HDB exposure aligns with their portfolio objectives; the modest rental yields, lease decay risk, and lower capital appreciation relative to private residential properties make HDB flats a suboptimal choice for wealth accumulation strategies. Similarly, investors prioritising aggressive yield extraction will be disappointed by the 2–3.5% gross returns typical of Mattar HDB units; they would be better served investigating private residential developments or commercial real estate alternatives offering higher yield profiles. Conversely, owner-occupiers seeking affordable housing without investment ambitions find 24 Balam Road exceptionally well-suited, as affordability and connectivity outweigh yield considerations when the purchaser intends to occupy the property personally. Buyers should align their purchase decision with their life stage, financial capacity, and investment objectives before committing to 24 Balam Road.

What TDSR and financing headroom should I plan for at typical price points for 24 Balam Road units?

At typical HDB price points for 24 Balam Road (ranging broadly depending on unit size and lease tenure), a modest HDB unit might trade at S$450,000 to S$550,000, whilst larger configurations could reach S$650,000 or beyond. For a S$500,000 unit financed at 90% loan-to-value over 25 years, the monthly instalment approximates S$1,950 (at current indicative interest rates of approximately 3.5% to 3.75%). Banks apply Total Debt Service Ratio (TDSR) limits, typically capping total monthly debt obligations at 60% of gross household income; this means a household would require approximately S$3,250 in gross monthly income to comfortably absorb a S$1,950 HDB instalment alongside other liabilities. For dual-income households earning S$7,000 to S$10,000 combined, this financing level remains manageable and leaves meaningful headroom for discretionary spending and savings. However, applicants carrying existing car loans, credit card balances, or personal loans must reduce their HDB borrowing capacity accordingly; someone with S$800 in pre-existing monthly debt obligations would need S$4,667 in gross household income to accommodate a S$1,950 HDB instalment at the 60% TDSR ceiling. First-time buyers often qualify for government-backed mortgage schemes offering slightly more favourable terms than conventional bank financing; these should be explored before accepting market rates. Prospective purchasers should obtain a mortgage pre-approval letter from their bank and model multiple scenarios (varying tenure length, down-payment levels, interest rate assumptions) to confirm financing headroom before identifying specific units at 24 Balam Road.

How does 24 Balam Road compare to nearby competing HDB developments in terms of location, value, and investment merit?

The immediate Mattar and Geylang precinct hosts several competing HDB developments, including blocks on Joo Chiat Road, Marine Parade Lane, Aljunied Road, and Geylang Lorong corridors. 24 Balam Road positions itself competitively against these alternatives on location (equal proximity to Mattar MRT or marginally closer depending on block-specific geography), pricing (typically mid-range within the Mattar postcode), and amenity access (equal or superior access to schools, hawker centres, and retail). The key comparative advantage of 24 Balam Road hinges on the specific block's age, remaining lease tenure, and condition relative to neighbouring alternatives; an older block with declining lease may trade at a discount versus a newer, more recently renovated neighbour, or vice versa. Investors should treat 24 Balam Road not as an isolated opportunity but as one option within the Mattar supply universe, conducting side-by-side comparisons on price-per-square-foot, lease remaining, and tenant demand indicators before deciding. Geographically, Mattar's central positioning within the east coast corridor means all competing HDB blocks enjoy similar macroeconomic fundamentals (MRT connectivity, demographic stability, amenity maturity), so final selection often hinges on micro-level factors: specific unit orientation, floor level, building age, or recent renovation status. Experienced investors often find better value in blocks undergoing minor renovations or cosmetic updating, as these projects temporarily depress resale pricing despite underlying quality; 24 Balam Road should be evaluated through this comparative lens to identify whether pricing accurately reflects its competitive position relative to immediately adjacent alternatives.

Are certain unit stack positions or floor levels at 24 Balam Road better positioned for value retention or rental demand?

HDB unit stack positioning materially affects both resale value and rental appeal, with certain tiers commanding 5% to 15% premiums over comparable units in less desirable locations. Middle floors (typically floors 4–16 in a standard 25-storey HDB block) command the strongest value and rental demand, as they balance natural light and ventilation with psychological safety and accessibility preferences; these units typically experience the lowest vacancy rates and highest re-sale velocity. Lower floors (1–3) suffer from potential ground-level moisture, limited natural light, and psychological unease amongst certain buyer segments, typically trading at 5% to 10% discounts relative to middle-floor equivalents. Upper floors (18–25) offer superior views and reduced noise from street-level traffic, yet many buyers avoid the highest tiers due to utility costs (increased cooling in warmer climates) and psychological vertigo concerns; these units often sell at modest premiums or occasionally at par with middle floors depending on the building's microclimate. Corner units across all floors typically command 3% to 5% premiums due to enhanced natural light, cross-ventilation, and psychological preference, making them attractive for owner-occupiers but less critical for yield-focused investors. For investors prioritising consistent tenant demand and minimal vacancy, units on floors 8–15 in non-corner positions represent optimal value; they attract diverse tenant profiles, avoid the stigma of lower floors, and sidestep the premium pricing of upper floors without justifying the additional cost. Buyers should physically inspect multiple floors and stack positions at 24 Balam Road before finalising purchase decisions, as these granular factors significantly influence both immediate resale velocity and long-term rental performance.

What is the future supply pipeline for HDB in the Mattar district, and how might new supply affect 24 Balam Road's long-term value prospects?

The Mattar and Geylang districts are fully built-out, mature precincts with minimal planned new HDB construction on the immediate horizon. Unlike growth districts such as Punggol or Tengah (where thousands of new HDB units are under construction), Mattar's supply profile is essentially fixed, meaning 24 Balam Road will not face competitive pressure from new neighbouring developments over the next 10–15 years. This supply constraint historically supports price stability and modest appreciation; reduced new supply typically maintains demand pressure on resale inventory, preventing the price deflation that can occur in over-supplied districts. The broader HDB policy environment emphasises infill development and estate rejuvenation in mature areas rather than large-scale new construction; this suggests Mattar may see selective improvements (upgraded community facilities, enhanced green spaces, potential MRT enhancements) but not volume expansions that would dilute property values. Conversely, the lack of new supply also means 24 Balam Road units will not benefit from the artificial scarcity premium that can emerge as new estates rapidly absorb demand; appreciation will be measured and anchored to broader economic cycles rather than supply-driven bubbles. From a long-term value perspective, the constrained supply environment in Mattar provides downside protection (demand remains stable relative to flat supply), but also limits explosive upside (no supply-driven appreciation narrative). Prospective purchasers should view 24 Balam Road as a stable, long-term holding rather than an appreciation play; the lack of future supply change insulates the development from major surprises in either direction, providing confidence for owner-occupiers and conservative investors but limiting excitement for those seeking capital growth above inflation.

[For Sale / Rent] Hdb Flat At 24 Balam Road — From S$550