Median 4-room flat in Choa Chu Kang at $560,888 needs $151,648 before the loan in 2Q2026
Published 7 Nov 2026
This is an illustrative example built on the quarter's median price and a stated buyer profile. It is not a real purchase, not a valuation of any home, and not advice on whether or how to buy. Every figure in it is computed from recorded transactions and the tax and financing rules recorded as in force.
A Singapore citizen buying a first home at the Choa Chu Kang 4-room median of $560,888 in 2Q2026 would need $151,648 before the loan, in an illustrative example computed by this site's engine. The loan-to-value limit, not the income tests, sets the borrowing ceiling.
Based on data.gov.sg HDB resale records, 135 such sales were recorded in the quarter, with the median down 1.4% y-o-y from $569,000. The example buyer is aged 35 with a household income of $10,000 a month and an HDB loan over 25 years.
Stamp duty on the median price is $11,426
Buyer's stamp duty is $11,426 and additional buyer's stamp duty is $0 at 0%. No minimum cash applies, and $140,222 is payable in CPF or cash.
With stamp duty, the total before the loan is $151,648. The table below sets out each item.
| Item | Amount |
|---|---|
| Price (median of the quarter's sales) | S$560,888 |
| Buyer's stamp duty | S$11,426 |
| Additional buyer's stamp duty (0%) | S$0 |
| Stamp duty in total | S$11,426 |
| Maximum loan (75.0% of price) | S$420,666 |
| Minimum cash | S$0 |
| CPF or cash | S$140,222 |
| Total before the loan (stamp duty, cash, CPF or cash) | S$151,648 |
Loan limit is set by the 75% loan-to-value cap
The loan limit is $420,666, or 75.0% of the price. The TDSR limit allows $1,159,820 and the MSR limit allows $632,629, so the loan-to-value limit binds.
The monthly instalment is $1,995 at 3%, or 19.9% of the stated income. The stress rate used for the servicing test is also 3%.
| Item | Value |
|---|---|
| Loan type | HDB loan |
| Tenure | 25 years |
| Loan-to-value cap | 75% (HDB loan, 75% LTV over 25 years) |
| Loan allowed by LTV | S$420,666 |
| Loan allowed by TDSR | S$1,159,820 |
| Loan allowed by MSR | S$632,629 |
| Binding limit | the loan-to-value limit |
| Monthly instalment at 3% | S$1,995 |
| Monthly instalment at the 3% stress rate | S$1,995 |
| Instalment as a share of the stated income | 19.9% |
Holding the flat for five years costs $93,699
The five-year cost is $93,699 in all, of which interest is $58,717. Property tax and maintenance come to $4,788.
Costs going in are $14,696 and costs coming out are $15,497. On these figures, the price would need to rise 17.1% over the five years to cover the total.
| Item | Amount |
|---|---|
| Costs going in (stamp duty, fees) | S$14,696 |
| Interest over five years | S$58,717 |
| Property tax and maintenance over five years | S$4,788 |
| Costs coming out | S$15,497 |
| Total cost of the hold | S$93,699 |
Stamp duty differs sharply by buyer profile
At the same price, a Singapore citizen buying a second home pays $123,603 in stamp duty, with ABSD at 20%. A permanent resident buying a first home pays $39,470 at 5%.
A foreigner pays $347,958 at an ABSD rate of 60%. The loan-to-value cap is 45% for the citizen's second home and 75% for the other three profiles.
| Buyer | BSD | ABSD rate (%) | ABSD | Total | LTV cap (%) |
|---|---|---|---|---|---|
| Singapore citizen, first home | S$11,426 | 0.0 | S$0 | S$11,426 | 75.0 |
| Singapore citizen, second home | S$11,426 | 20.0 | S$112,177 | S$123,603 | 45.0 |
| Permanent resident, first home | S$11,426 | 5.0 | S$28,044 | S$39,470 | 75.0 |
| Foreigner | S$11,426 | 60.0 | S$336,532 | S$347,958 | 75.0 |
Sales behind the Choa Chu Kang median
The median rests on 135 sales in the quarter, at $5,549 psm and a median size of 100 sqm. The median price a year earlier was $569,000, a change of -1.4%.
All figures are indicative and drawn from recorded transactions, not a formal valuation of any home.
| Item | Value |
|---|---|
| Sales in the quarter | 135 |
| Median price | S$560,888 |
| Median per area | S$5,549 psm |
| Median size | 100 sqm |
| Median price a year earlier | S$569,000 |
| Change | -1.4% |
The same price carries stamp duty of $11,426 for a citizen buying a first home and $347,958 for a foreigner.
Method: an illustrative example, not a real purchase. The price is the median of the quarter's recorded sales named. The buyer is a Singapore citizen first-time owner-occupier aged 35. The stated household income is S$10,000 a month, with no other debt. The loan is the maximum, over 25 years at 3%. Stamp duty, loan limits, instalments and the five-year hold cost are computed by this site's position engine under the rules recorded as in force for the quarter. The rule versions used are bsd 2023-02-15, absd 2023-04-27, ssd 2025-07-04, ltv 2024-08-20, tdsr 2022-09-30, property_tax 2025-01-01, costs 2020-01-01. Further assumptions: sale at today's indicative mid value after 5 years. Seller pays 2% commission and S$3,000 legal fees, plus 9% GST. Mortgage interest from a standard amortisation schedule at the given rate. Loan of S$420,666 (75% of the price), the maximum available. Property tax on an assumed annual value of S$13,440 (35% of market rent). Maintenance at the configured norm. Rates are versioned data in config/rules.yaml, checked against IRAS and MAS publications on 2026-09-18. The newest version applied here took effect 2025-07-04. Rules change with each cooling-measure round. Private figures are from URA Data Service caveats, HDB figures from data.gov.sg resale records, both loaded weekly by this site's ingest. Medians are of the non-excluded transactions in the period named. Sales flagged by the hygiene rules (related-party transfers, bulk deals, outliers) are left out. Every figure is indicative and drawn from recorded transactions, not a formal valuation.