As 2024 draws to a close, it is high time to relax, reflect, and draw up your new year's resolution (or dust off old ones) for 2025. Among other goals, perhaps now is a good opportunity to contemplate the next step in your property journey.

By our estimates based on completion status, there may be more than 7,400 flats that will obtain their 5-year Minimum Occupation Period (MOP) in 2025, which will make them eligible to be resold on the secondary market (see Chart 1). While the MOP stock is limited due to completion delays caused by the COVID-19 pandemic, the projects that could come on in the HDB resale market may excite some prospective buyers.

Chart 1: Number of estimated HDB flats reaching 5-year MOP according to completion status

Source: PropNex Research, data.gov.sg

Location of upcoming MOP projects

Looking at a selection of potential MOP projects (see Table 1), about 43% are located in Punggol, followed by 22% in Toa Payoh, 11% in Tampines, and the rest in Ang Mo Kio, Bedok, and Clementi. With exception of Punggol and Choa Chu Kang, these projects are all situated in mature neighbourhoods.

Table 1: Potential HDB projects reaching MOP in 2025

Source: PropNex Research

Notable projects that could achieve MOP in 2025 include Alkaff CourtView, Ang Mo Kio Court and Clementi Crest, among others (see Table 1). These projects garnered high application rates in their respective BTO exercises due to their attractive locational attributes, and will likely see healthy demand from owner-occupiers and renters. Furthermore, some prospective buyers may be drawn to these projects, as they perceive them to be Plus-equivalent location flats, but with fewer strings attached, so to speak.

From October 2024, new BTO flats are classified as Standard, Plus, or Prime flats, with the latter two being subjected to stricter rental and resale conditions, a longer 10-year MOP, and subsidy clawback upon resale. These requirements may channel some families to purchasing resale flats in choice locations instead, as the new classification are not applicable to existing HDB flats.

PropNex Picks expects flats in Alkaff CourtView in Toa Payoh - one of the larger BTO projects launched in the Alkaff district in the Bidadari estate - will likely garner the most demand from young couples and families. Located at the city fringe, the project boasts good transport connectivity and is a stone's throw away from Woodleigh and Potong Pasir MRT stations on the North East Line. The opening of Bidadari Park also brought greenery closer to home, along with a variety of recreational options, and there is more to come as the Bidadari estate continues to be developed. Between August and mid-November 2024, Alkaff Vista which recently reached MOP saw 14 units of 4- and 5-room flats resold at prices ranging from $937,500 to $1.3 million.

Artist impression of Alkaff Courtview, source: HDB

Given the limited supply of new BTO projects in Ang Mo Kio, it's no surprise that Ang Mo Kio Court garnered significant attention from families in the May 2016 BTO exercise. In addition to being near to plenty of amenities, a key highlight of this project is its proximity to CHIJ St. Nicholas Girls' School, along with two other primary schools. The project also has a wide variety of flats to choose from to fit every buyer's needs, ranging from 2-room Flexi to 3-GEN. Nearby resale flats at Kebun Baru Court posted 16 transactions, with the 4- and 5-room flats fetching $765,000 to $1.16 million in about 11 months of 2024.

Meanwhile, Clementi Crest was also one of the most sought-after projects in the May 2015 BTO exercise, thanks to the established amenities nearby and its proximity to the Clementi MRT station. Families will be happy to know that there are a wide range of school in the area, including Pei Tong Primary, Clementi Primary, Nan Hua Primary School and High School, Qifa Primary School, Clementi Town Secondary School, and the National University of Singapore. Nearby Clementi Towers - which was completed more than 10 years ago - continues to be one of the popular HDB resale projects; since 2017 Clementi Towers recorded 54 resale flat deals, with the prices of several 4- and 5-room units crossing the $1-million mark.

Artist impression of Clementi Crest, source: HDB

The final project in a mature estate is the 215-unit Bedok North Vale. Due to its relative distance from the Bedok MRT and smaller number of units, this project may see more muted demand overall. Similarly, the two projects in Tampines (Tampines GreenBloom and Tampines GreenFlora) are some ways from the nearest MRT station in Tampines West. However, their larger unit mix of 4-room to 3-GEN flats could appeal to families looking to reside in the East, particularly with Tampines being a regional centre where commercial offerings are quite plentiful.

Meanwhile, the three projects in Punggol (Northshore Straitsview, Northshore Residences I and II) are a short distance from LRT stations (Samudera / Punggol Point) and boast a waterfront view. In addition, the completion of Punggol Coast MRT station in December 2024 will further improve connectivity to JTC business parks and other parts of Singapore.

Artist impression of Northshore Straitsview, source: HDB

Finally, Teck Whye Vista is a short 7-minutes' walk to Bukit Panjang MRT station on the Downtown Line, and it is at the doorstep of Phoenix LRT station. However, their limited selection of flats (only 2-room Flexi flats) means that the potential resale demand pool for this project may be smaller.

With these flats potentially achieving MOP in 2025, now may be an opportune time to assess your finances and housing needs. If you are planning to buy or sell a newly-MOPed flat, be sure to connect with a PropNex salesperson to assist you in the next step of your property journey.