HDB valuation in Singapore
The official valuation of an HDB flat does not exist yet when you need it most. HDB values the flat after an Option to Purchase has been granted — which means the price is agreed before anyone knows the valuation.
PriceVero is not a licensed valuation, and it is not HDB’s valuation either. We do not tell you what a flat is worth. We take a price you name and check it against the resale transactions HDB publishes — block by block, flat type by flat type — and show you the evidence behind the verdict.
Check an HDB asking price now. Name the block, pick a flat type and lodged size, add the price. You get the same rating a pasted listing gets, rated within HDB only.
Free to start — twenty ratings and five branded reports on signup, then five ratings a month. No credit card.
Where the valuation sits in the resale process
The order surprises people, and it is the single most useful thing to understand about pricing an HDB resale flat:
- Buyer and seller agree a price between themselves. Nothing official has been valued at this point.
- The seller grants an Option to Purchase at that agreed price.
- Only then is a valuation requested, and HDB appoints the valuer.
- The valuation determines how much CPF and housing loan can go towards the flat. Anything above it has to be found in cash.
So the valuation is not the number you negotiate against. It arrives afterwards and decides how the agreed price gets paid. That is why “what is my flat worth” cannot be answered by waiting for HDB: by the time HDB answers, the price is already set.
What COV actually means
Cash over valuation is the amount by which the agreed price exceeds the valuation. It matters because that portion cannot be covered by CPF or by a housing loan — it comes out of the buyer’s pocket in cash.
Because the price is agreed before the valuation exists, nobody knows the COV while they are negotiating. A buyer who agrees to a price well above what comparable flats in that block have been transacting at is accepting the risk of a cash gap they cannot see yet. That is the practical reason to read the block’s own record before agreeing to anything, rather than after. How big that risk is can be measured: within one block, flat type and quarter, recent resales differ by about 8.5% from top to bottom — a median gap of S$50,000. See Cash Over Valuation, read from the resale record.
What you can see before the valuation exists
Rather a lot, as it happens — more than for private property. HDB publishes every resale transaction under the Singapore Open Data Licence: the block, the flat type, the floor area, the storey range, the remaining lease, the month and the price. Nothing is anonymised away, and it is free.
That is why the block pages here can show you the actual transactions, which the condo pages cannot — URA licensing does not permit republishing private caveats the same way. On a block page you can read:
- Recent resale transactions for that block, with month, flat type, storey range, size, price and price per square foot.
- Median prices per flat type, last twelve months against the twelve before, so you can see which direction that block has been moving.
- Remaining lease and the CPF age thresholds that follow from it — the constraint that quietly decides who can buy the flat and with what financing.
- An A–E block rating, measured within HDB resale only and never compared with a condominium’s.
- The observed facts around it: routed distance to the nearest MRT or LRT, bus stops, the primary schools inside a kilometre, hawker centres, markets, parks, carparking.
Which one you need
| What you are doing | What you need |
|---|---|
| Working out CPF and loan after the Option to Purchase | HDB’s valuation — requested through HDB, valuer appointed by them |
| Deciding what to offer, before the OTP | The published resale record for that block and flat type |
| Setting an asking price for your flat | The same record, plus how your flat differs — storey, size, lease, condition |
| Judging whether an asking price implies a cash gap | The record. It is the only evidence that exists at that stage |
| A bank loan, probate, or a formal dispute | A licensed valuation |
“How much is my HDB flat worth?”
We will not print a figure. Stating what a specific property is worth is a licensed activity in Singapore, and a single number also hides how much evidence stands behind it — some blocks transact every month, others twice a year.
What is worth doing instead takes about a minute: name a price and see how it reads against the block’s own record. The rating comes back on HDB’s own scale, recut on HDB resale transactions, because an HDB flat and a condominium are not the same market and a band that means one thing here would mean something else there.
One number that is genuinely useful and often missed: older flats frequently sell for more per square foot than newer ones, which looks like the lease being worthless and is not. It is where the old flats are. We measured it across 50,912 resales — why a shorter lease doesn’t show up in the price per square foot.
Limits, stated up front
- This is not HDB’s valuation and cannot replace it. Only HDB’s appointed valuer produces the figure that decides your CPF and loan.
- A block needs recent resale activity to carry a page. Quiet blocks are folded into their street page, where their facts and transactions still appear.
- Newly completed blocks and rental blocks have no resale record to read.
- HDB and private property are never cross-compared. Two separate scales, two separate sets of bands.
Questions
How much is my HDB flat worth?
We will not give you a figure — stating what a specific property is worth is a licensed activity in Singapore. What you can do is name a price and see how it reads against the resale transactions published for your block and flat type, with the dates and sizes shown beside it.
When does HDB value the flat?
After an Option to Purchase has been granted, and HDB appoints the valuer. The price is agreed before that, which is why the valuation is not the number you negotiate against — it decides how much of the agreed price CPF and a housing loan can cover.
What is COV?
Cash over valuation: the amount by which the agreed price exceeds the valuation. It cannot be paid with CPF or covered by a housing loan, so it comes out of the buyer's cash. Because the valuation comes after the price is agreed, neither side knows the COV while negotiating.
Can I check a price before the Option to Purchase?
Yes, and that is the point of doing it. Name the block, the flat type and the size, add the price, and the check reports how it reads against that block's published resale record — before anything is signed.
Is this HDB's official valuation?
No. It is not HDB's valuation and it is not a licensed valuation. It is a rating derived from published records, and it must not be presented to HDB, to a bank or to CPF as a valuation.
Where does the HDB data come from?
HDB's own published resale transactions and property information, released under the Singapore Open Data Licence, plus LTA rail and bus data, MOE school data and OneMap routing for the distances. Every figure carries the month or date of the evidence behind it.
Do you cover BTO flats or rental flats?
No. A rating needs a resale record, so blocks with no resale history are not rated. HDB resale is what is covered, town by town — see HDB resale flats in Singapore.
Where to look next
HDB resale transaction data is published by the Housing & Development Board and reproduced under the Singapore Open Data Licence. PriceVero is independent and is not affiliated with, endorsed by or sponsored by HDB or any property portal. Nothing on this page is a valuation or an offer.