Type

Units

Min Area

Price Range

2 BR

646 sqft

S$345K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$345K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$69,000 on this acquisition.
Located 12 min (1.03 km) from EW18 Redhill 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.

Interested in this property?

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

28 Hoy Fatt Road: Accessible HDB Living in the Heart of Redhill

Located at 28 Hoy Fatt Road in the Redhill precinct, this HDB development offers straightforward residential accommodation for buyers seeking practical housing within Singapore's public estate system. The property sits within a mature neighbourhood that has evolved significantly over the past decade, characterised by a stable community, established infrastructure, and reliable transport connectivity. Units at 28 Hoy Fatt Road range from compact configurations ideal for smaller households or early-stage investors, providing flexibility for various buyer profiles and investment strategies.

The location's primary appeal lies in its proximity to EW18 Redhill MRT Station, situated approximately 1.03 kilometres away and accessible by a 12-minute walk. This convenient connection to the East-West Line provides direct access to major employment nodes including the business districts of Raffles Place and Shenton Way, as well as leisure destinations such as Jurong East and Changi Airport. The station also serves as an interchange point for bus services, enhancing overall mobility within the estate and across Singapore.

Neighbourhood Character and Established Amenities

The Redhill area represents one of Singapore's earlier HDB development zones, resulting in a neighbourhood rich in established amenities and community infrastructure. Residents benefit from proximity to the well-known Maxwell food centre and Tiong Bahru market, both iconic culinary destinations that attract regular footfall and contribute to the area's vibrant street-level character. Supermarkets, hawker centres, clinics, and educational facilities are integral to the locality, creating a self-contained residential ecosystem where daily essentials are within walking or short bus distances.

The mature nature of the neighbourhood also means that property transactions in the area are well-documented, enabling prospective buyers to assess historical price movements and understand market dynamics with relative clarity. Schools serving the catchment include both primary and secondary institutions, making the area particularly suitable for families seeking established educational options without the premium pricing sometimes associated with newer private estates or choice neighbourhoods.

Affordability and Market Entry Point

At 28 Hoy Fatt Road, available units commence from S$345,000, positioning the development as an accessible entry point for first-time buyers, young professionals, and investors seeking to diversify their residential property portfolios. This price positioning reflects the established nature of the estate, the modest unit sizes typical of older HDB blocks, and the practical emphasis on functionality over luxury finishes. For buyers prioritising capital efficiency and rental yield over premium aesthetics, such price points represent genuine value opportunities within Singapore's constrained housing market.

The compact floor areas, ranging approximately 646 square feet for available units, cater to single occupants, couples, and small families who value location and transport convenience above expansive living spaces. This configuration is particularly attractive to investors purchasing for yield, as smaller units typically command higher gross rental returns and appeal to the substantial tenant market of young professionals and expatriates seeking accessible Central Zone accommodation.

Investment Considerations and Rental Dynamics

For investors evaluating 28 Hoy Fatt Road as an acquisition opportunity, the proximity to Redhill MRT Station represents a material asset in terms of tenant attraction and retention. Properties within 10 to 15 minutes' walk of major transit nodes consistently demonstrate stronger rental absorption and more stable tenant profiles, as commute accessibility directly influences residential choice for working professionals. The established commercial and hawker ecosystem surrounding the property further strengthens its appeal as a rental asset, as tenants benefit from immediate access to dining, retail, and essential services without reliance on private transport.

Lease remaining on HDB units is a critical consideration for investment thesis evaluation. HDB leasehold periods typically commence at 99 years from the point of government allocation; properties at various stages of their lease cycle present different risk profiles and appreciation trajectories. Investors should verify the specific lease commencement date for units at this development to model long-term capital appreciation scenarios and understand potential resale value evolution as the lease matures.

Financing and Affordability Assessment

At entry prices commencing from S$345,000, units at 28 Hoy Fatt Road sit comfortably within the financing parameters of most aspiring homeowners and investors with standard employment backgrounds. Most financial institutions offer HDB mortgages at loan-to-value ratios of 80 to 90 percent for residential owner-occupiers, meaning down payments of S$34,500 to S$69,000 would secure financing for units at the lower price band. This accessibility significantly broadens the buyer universe and explains the consistent transaction activity typical of developments at this price point and location.

Total Debt Service Ratio (TDSR) considerations are relevant for prospective mortgagors; as HDB unit prices at this address remain modest, TDSR constraints are unlikely to materially restrict borrowing capacity for employed individuals with regular income profiles. Buyers should engage directly with their preferred financial institutions to obtain formal pre-approval letters and understand their specific financing headroom, particularly if combining multiple property liabilities or managing existing consumer debts.

Capital Appreciation and Long-Term Value Drivers

The long-term capital appreciation profile of properties at 28 Hoy Fatt Road is substantially influenced by the maturity of the surrounding estate, the stability of the Redhill neighbourhood, and transport infrastructure development within the district. Mature HDB estates typically experience modest but steady appreciation over 10 to 15-year holding periods, driven by broader economic growth, inflation, and the scarcity premium attached to centrally located public housing. Properties within easy reach of major MRT stations historically outperform those in less connected locations, as transport accessibility becomes increasingly valued by successive waves of homebuyers and investors.

The East-West Line remains one of Singapore's busiest transit corridors, and any future enhancement or capacity expansion would further strengthen the investment case for properties served by Redhill Station. Additionally, ongoing urban renewal initiatives and neighbourhood regeneration programmes in the broader Tiong Bahru and Outram precinct may indirectly benefit adjacent HDB developments through improved public realm amenities and commercial activity concentration.

Comparative Market Context

Within the broader Outram and Tiong Bahru districts, 28 Hoy Fatt Road occupies a competitive position characterised by reasonable pricing relative to newer or upgraded developments in adjacent locations. Properties in the same transport corridor but in earlier-generation blocks typically command similar or marginal price premiums, reflecting the consistency of HDB valuation across comparable estates. Prospective buyers comparing 28 Hoy Fatt Road against competing offerings in Tiong Bahru, Bukit Merah, or the greater Central Zone should evaluate lease remaining, proximity to amenities, and unit configuration alongside headline prices to reach informed acquisition decisions.

Suitability Across Buyer Profiles

The development appeals across multiple buyer segments. First-time buyers appreciate the affordability, established neighbourhood infrastructure, and proximity to employment centres accessible via the East-West Line. Young professionals value the convenient location, robust tenant base, and practical design without the premium pricing of newer launches or private condominium developments. Upgraders trading up from younger properties may find units at 28 Hoy Fatt Road offer improved locational benefits relative to their equity position. Investors seeking steady rental yields and capital preservation benefit from the development's stable neighbourhood profile and proven tenant demand for centrally located HDB accommodation.

Frequently Asked Questions

What is the estimated gross rental yield for units at 28 Hoy Fatt Road?

Gross rental yields for HDB flats at 28 Hoy Fatt Road typically range between 2.5% and 3.5% annually, depending on unit configuration, specific lease remaining, and prevailing market rental rates. A compact 2-bedroom unit commencing at approximately S$345,000 could command monthly rentals of S$900 to S$1,150 in the current market, translating to gross yields near the middle of this range. Investors should verify lease commencement dates and model lease decay scenarios, as units with significantly reduced lease remaining may experience rental rate suppression relative to newer properties, potentially narrowing yield prospects over longer holding periods.

How does the per-square-foot pricing at 28 Hoy Fatt Road compare to recent transactions in the Redhill–Tiong Bahru area?

Properties at 28 Hoy Fatt Road trade at approximately S$530 to S$560 per square foot based on recent asking prices and transaction evidence, positioning the development competitively within the Redhill and Tiong Bahru transport corridor. This pricing reflects the established nature of the estate, moderate unit sizes, and the advantage of direct MRT proximity, factors that support consistent valuation relative to neighbouring HDB blocks of similar age and condition. Recent comparable sales in the broader Outram district demonstrate price stability with modest annual appreciation, suggesting that acquisition at current price points provides reasonable value relative to transaction history and forward-looking supply dynamics in the district.

What is the Additional Buyer's Stamp Duty (ABSD) implication for a Singapore Citizen purchasing at 28 Hoy Fatt Road as a second residential property?

A Singapore Citizen acquiring a second residential property at 28 Hoy Fatt Road incurs Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price, payable on the date of completion. For a purchase at S$345,000, this translates to ABSD liability of S$69,000 in addition to standard Buyer's Stamp Duty and legal fees, materially increasing the total cost of acquisition. Investors and upgraders should incorporate this ABSD charge into their financial modelling and budgeting, as it significantly impacts entry cost and the timeline required to achieve positive internal rates of return relative to rental income or capital appreciation. First-time homebuyers are exempt from ABSD, making the development particularly attractive for this cohort relative to repeat purchasers.

How does lease decay affect the resale value and financing prospects of units at 28 Hoy Fatt Road?

HDB leases typically commence at 99 years; as lease remaining declines, resale values and financing options both contract materially. Properties with fewer than 60 years remaining typically experience more pronounced valuation suppression, as they become ineligible for HDB mortgage financing and appeal primarily to cash buyers or those with personal financial arrangements. Buyers should verify the lease commencement date for any unit at 28 Hoy Fatt Road, as this directly determines the remaining lease duration and establishes a clear timeline for assessing appreciation potential and resale flexibility. Units with 70+ years remaining generally maintain stronger financing accessibility and capital appreciation trajectories compared to those with lease lives approaching the 60-year financing threshold.

How does proximity to Redhill MRT Station influence demand and capital appreciation for properties at this address?

Proximity to Redhill MRT Station (EW18), located approximately 1.03 kilometres away, materially enhances both tenant attraction and capital appreciation potential for 28 Hoy Fatt Road. Properties within a 15-minute walk of major MRT nodes consistently demonstrate stronger rental absorption, higher gross yields relative to similar units in less connected locations, and more resilient appreciation over long holding cycles. The East-West Line itself serves major employment and leisure destinations, making Redhill a strategic location for working professionals and younger demographics with limited car ownership—demographics that represent the primary tenant pool for HDB rental properties. Historical transaction evidence across mature HDB estates suggests that MRT proximity sustains a durable pricing premium that compounds over decades, effectively insulating transport-connected developments from broader valuation declines experienced by more isolated blocks.

Which buyer profiles are best suited to acquiring units at 28 Hoy Fatt Road?

First-time homebuyers represent an ideal target profile, as the development's affordability, established neighbourhood infrastructure, and proximity to employment nodes satisfy both lifestyle and financial criteria for entry-level acquisition. Young professionals seeking rental accommodation also demonstrate strong interest, driven by the property's convenient location, proximity to dining and retail amenities, and accessibility to Central Business District employment via the East-West Line. Upgraders trading up from younger or remotely located properties may find value in the established amenities and transport connectivity relative to their available capital, particularly if seeking properties with immediate lettable potential rather than extended renovation or holding periods. Investors pursuing steady yields from HDB rental assets constitute another significant cohort, attracted by the stable tenant base, proven rental absorption, and reasonable acquisition prices relative to historical appreciation metrics.

What TDSR and financing headroom should prospective buyers expect at typical price points for 28 Hoy Fatt Road?

At entry prices commencing from approximately S$345,000, prospective buyer-occupiers with standard employment income and no material consumer debt obligations typically enjoy strong financing headroom relative to Total Debt Service Ratio (TDSR) limitations. Most financial institutions set TDSR thresholds at 60% of gross monthly income; assuming a 90% loan-to-value (LTV) ratio, down payment of S$34,500, and a 25-year mortgage tenor, monthly mortgage outgoings approximate S$1,300 to S$1,450 depending on prevailing interest rate environment. This modest monthly obligation accommodates readily available salaries within the target buyer base, ensuring that TDSR constraints rarely restrict financing access for primary residence purchases at this price point. Investors or purchasers with existing property liabilities should verify their specific TDSR position with their lending institution, as cumulative property debt obligations may constrain additional borrowing capacity.

How does 28 Hoy Fatt Road compare to competing HDB developments in the Redhill–Tiong Bahru corridor?

28 Hoy Fatt Road occupies a competitive position within the broader Redhill–Tiong Bahru HDB supply, characterised by comparable pricing, similar unit configurations, and equivalent MRT accessibility to neighbouring blocks such as those at Bukit Merah and Tiong Bahru proper. Price differentiation across these developments remains modest, typically reflecting minor variations in lease remaining, block orientation, and the subjective perception of individual block condition and maintenance. Prospective buyers comparing 28 Hoy Fatt Road against competing offerings should prioritise lease remaining as the primary differentiating factor, alongside floor level and unit stack exposure, rather than headline prices alone, as these factors materially influence long-term capital preservation and financing continuity. The relative scarcity of significantly cheaper or more expensive alternatives within the same transport corridor suggests that acquisition decisions should rest upon property-specific characteristics (lease, layout, condition) rather than anticipation of superior relative value at this location versus immediately adjacent blocks.

Which unit stacks or floor levels at 28 Hoy Fatt Road offer the strongest value proposition?

Mid-level floor positions (roughly floors 3 to 8) typically offer optimal value balance at 28 Hoy Fatt Road, as they avoid ground-floor noise and security concerns whilst commanding modest pricing relative to premium higher floors. Ground-floor and mezzanine units often attract price discounts reflecting reduced privacy and higher exposure to external noise from common areas and adjacent roads, yet appeal to elderly residents with mobility constraints and first-time investors prioritising absolute entry cost minimisation. Higher floor levels (9+) typically command modest premiums reflecting improved air quality, light, and reduced noise; these premiums occasionally exceed cost-benefit thresholds for owner-occupiers prioritising value, though investors may find higher floors deliver superior long-term rental appeal and consistent pricing resilience. Lower-level units on the development's perimeter or adjacent to main roads may experience more pronounced lease decay valuation impact over long holding periods, whilst mid-stack positions demonstrate more balanced appreciation trajectories.

What future supply pipeline and district development could influence 28 Hoy Fatt Road's long-term appreciation trajectory?

The broader Outram and Tiong Bahru district faces constrained new HDB supply relative to established mature estates, suggesting that scarcity value will likely intensify for existing properties like 28 Hoy Fatt Road over the medium to long term. Singapore's Housing Development Board has transitioned focus to newer development sites in outlying regions, effectively limiting new supply competition within central mature estates and supporting price resilience across Redhill-area properties. Urban renewal initiatives and commercial regeneration projects within the Tiong Bahru precinct (including updated retail and F&B development) may enhance neighbourhood amenity and commercial vibrancy, indirectly supporting property valuations and rental appeal across the surrounding HDB stock. Conversely, any significant transport infrastructure shifts or alternative MRT station developments within the district could alter commuting patterns and tenant preference distributions, though the centrality of Redhill Station within the East-West Line network suggests its long-term strategic importance will persist regardless of broader network evolution.

[For Sale] 28 Hoy Fatt Road — From S$345K