Insights ยท 2026-12-08
Where HDB landlords earn the most
Rents vary far less than prices. The dearest town's 4-room flats rent for 40% more than the cheapest's, but cost 102% more to buy. So gross yields run from 8.0% in Jurong West to 4.4% in Toa Payoh.
Highest gross yields
The typical 4-room flat yields about 6.4% a year before costs. The top towns:
- Jurong West: 8.0%: rent $3,500 a month, price $525k
- Jurong East: 7.5%: rent $3,500 a month, price $560k
- Ang Mo Kio: 7.0%: rent $3,500 a month, price $600k
- Woodlands: 6.9%: rent $3,100 a month, price $536k
- Yishun: 6.9%: rent $3,100 a month, price $541k
Lowest gross yields
The priciest towns yield least: their rents are higher, but not by nearly as much as their prices.
- Bukit Merah: 5.1%: rent $4,000 a month, price $950k
- Queenstown: 4.7%: rent $4,200 a month, price $1.06M
- Toa Payoh: 4.4%: rent $3,800 a month, price $1.04M
Every town
4-room flats, towns with enough recent sales and rentals.
| Town | Median rent / month | Typical price | Gross yield |
|---|---|---|---|
| Jurong West | $3,500 | $525,000 | 8.0% |
| Jurong East | $3,500 | $560,000 | 7.5% |
| Ang Mo Kio | $3,500 | $600,000 | 7.0% |
| Woodlands | $3,100 | $535,944 | 6.9% |
| Yishun | $3,100 | $541,000 | 6.9% |
| Choa Chu Kang | $3,100 | $550,000 | 6.8% |
| Bedok | $3,400 | $608,500 | 6.7% |
| Bukit Batok | $3,300 | $590,888 | 6.7% |
| Clementi | $3,900 | $707,500 | 6.6% |
| Pasir Ris | $3,400 | $625,000 | 6.5% |
| Sembawang | $3,200 | $596,000 | 6.4% |
| Serangoon | $3,500 | $653,888 | 6.4% |
| Bukit Panjang | $3,000 | $568,444 | 6.3% |
| Hougang | $3,200 | $613,000 | 6.3% |
| Tampines | $3,500 | $671,944 | 6.3% |
| Geylang | $3,800 | $755,000 | 6.0% |
| Sengkang | $3,200 | $644,844 | 6.0% |
| Punggol | $3,275 | $675,000 | 5.8% |
| Bishan | $3,700 | $774,500 | 5.7% |
| Kallang/whampoa | $3,800 | $878,000 | 5.2% |
| Bukit Merah | $4,000 | $950,000 | 5.1% |
| Queenstown | $4,200 | $1,061,888 | 4.7% |
| Toa Payoh | $3,800 | $1,040,000 | 4.4% |
Before you count on it
Gross yield ignores costs: maintenance and conservancy fees, property tax at the non-owner-occupier rate, repairs, agent fees and empty months. HDB owners can rent out a whole flat only after the minimum occupation period, and need HDB approval.
Rent: median of HDB rental approvals; price: median resale price; both over the latest three complete months.