Recently, would-be Fernvale Lea residents asked the Housing and Development Board (HDB) for a refund on their BTO flats when they learned a columbarium would be built nearby. They cited Feng Shui and traffic congestion as reasons the columbarium would drive down the values of their new flats.
While we’re no professional geomancers, we do assess properties well so we decided to research whether living near a columbarium impacts the value of an HDB Flat.
We looked at 10 well-known columbariums around Singapore and identified the distance to nearby HDB properties. We then calculated the median HDB resale price PSF for each range to see if prices dropped the closer they are to a columbarium.
As you can tell from the table, the results are inconclusive outside of 250m from a columbarium. Sometimes prices drop, sometimes they go up.
However, within 250m prices drop.
So here’s our conclusion. If you are worried about the impact of a columbarium on the value of an HDB flat, buy at least 250 meters. If you want to be extra safe, buy at least one kilometre away.
In summary, while location plays a major role in HDB valuation, real-time data is the best way to track your investment. Check your home’s X-Value Pricing to see your current market standing today.