248 Tampines Street 21 HDB Price Trends & Resale Analysis
Block 248 Tampines Street 21 offers 4-room HDB flats priced between S$648,000 to S$699,999, representing strong value in the Tampines estate with excellent transport connectivity and mature amenities.[1][3][5] This established HDB block, completed in 1983 and located just a 3-minute walk from Tampines MRT station, has become increasingly attractive to families and upgraders seeking affordable homeownership in Singapore's regional east centre.[1]
At Homejourney, we believe every property decision deserves verified data and transparent insights. This guide provides you with the comprehensive price trends, resale analysis, and buyer information needed to make confident decisions about purchasing at 248 Tampines Street 21.
Current Resale Prices at Block 248 Tampines Street 21
The most recent transaction data from February 2026 shows a 4-room flat selling for S$648,000 at a price of S$7,121 per square metre.[2][7] Current market listings for this block range from S$669,999 to S$699,999, with price per square foot hovering around S$712-S$714.[1][3]
For context, the block predominantly features 4-room configurations with unit sizes ranging from approximately 980-990 square feet (91-92 sqm).[1][3] The price per square foot metric (around S$661-S$714) provides a useful benchmark when comparing this block to other Tampines HDB developments.
Available flat types at this block include:
- 4-room flats (primary configuration): S$648,000 - S$699,999
- 3-room flats: Limited availability at this block
- Unit sizes: Approximately 980-990 sqft per unit
Price Trends: 2020 to 2026
Block 248 has experienced significant appreciation over the past 6 years. Historical data shows 4-room flats at this block were priced at S$400,000 to S$420,000 in 2020, representing a remarkable 54-62% increase to current 2026 prices of S$648,000.[8]
This appreciation reflects several market factors: Singapore's overall HDB resale price growth, the maturity and stability of Tampines as an estate, ongoing infrastructure improvements, and the block's proximity to Tampines MRT and major amenities. The consistent upward trend suggests strong buyer demand and confidence in this location.
Price appreciation timeline:
- 2020: S$400,000 - S$420,000 (4-room)
- 2025: S$665,000 (May transaction)
- 2026: S$648,000 - S$699,999 (current range)
Why Block 248 Tampines Street 21 Offers Strong Value
Prime Location in Tampines Regional Centre
Tampines is Singapore's regional east centre, offering a complete ecosystem of work, shopping, dining, and recreation. Block 248's location on Tampines Street 21 places you within walking distance to Tampines MRT station (3 minutes), providing direct access to the Circle Line and connections throughout Singapore.[1]
The block is surrounded by major shopping and lifestyle destinations including Tampines Mall, Our Tampines Hub, and extensive hawker centres serving authentic local cuisine. For families, the area offers numerous primary schools within 1km, making this an ideal location for HDB balloting eligibility.
Mature Estate with Excellent Amenities
As an established 1983 block, 248 Tampines Street 21 benefits from a mature, well-developed estate infrastructure. The neighbourhood features parks, community centres, and recreational facilities that have been refined over decades. The 11-floor building design offers a good balance between privacy and community interaction.
Strong Rental Market
The Tampines Street 21 area demonstrates consistent rental demand. Recent rental data shows 4-room flats in nearby blocks commanding S$2,500-S$3,900 per month, while 3-room units rent for S$2,300-S$3,200.[2] This strong rental yield makes the block attractive for investors seeking long-term capital appreciation with rental income potential.
HDB Resale Eligibility: Who Can Buy at Block 248?
Understanding your eligibility is the first step in your HDB purchase journey. At Homejourney, we prioritize transparency so you can plan with confidence.
You can purchase an HDB resale flat at 248 Tampines Street 21 if you are:
- Singapore Citizen (SC): Can purchase resale HDB at any time with no restrictions
- SC married to Permanent Resident (PR): Eligible to buy resale HDB
- Two PRs married to each other: Eligible after 3 years of PR status
- Singapore Citizen Singles aged 35 and above: Eligible for 2-room Flexi flats only (not applicable at Block 248 which has 4-room units)
Important eligibility requirements:
- No income ceiling for HDB resale purchases (unlike BTO flats)
- Must form a valid family nucleus (couple, single parent with child, or elderly parent with child)
- Cannot own another HDB flat or have sold one within the last 30 months
- Ethnic Integration Policy (EIP) applies — ensure your family composition complies with estate quotas
Before proceeding, obtain your HDB Flat Eligibility (HFE) letter from HDB to confirm your eligibility status. This letter is essential for making offers and submitting resale applications.
HDB Grants: Maximizing Your Purchasing Power
First-time HDB buyers can access substantial government grants that significantly reduce the purchase price. These grants are one of the most valuable benefits of HDB homeownership in Singapore.
Available grants for HDB resale purchases (2026):
- CPF Housing Grant (first-timers): Up to S$80,000 for couples or single parents. Based on income and family composition.
- Enhanced CPF Housing Grant: Up to S$80,000 for lower-income households. Eligibility based on household income not exceeding S$8,000/month.
- Proximity Housing Grant: Up to S$30,000 if you're buying a flat within 4km of your parents' or adult child's home.
Maximum total grant potential: Up to S$190,000 for eligible first-time buyers who qualify for all three grants.
For a S$648,000 flat at Block 248, grants of S$80,000-S$160,000 would reduce your actual cash requirement to S$488,000-S$568,000. This is a substantial advantage that makes HDB resale purchasing accessible to more families.
Verify your grant eligibility through HDB's official website or consult with an HDB specialist to understand which grants apply to your situation.
Financing Your Purchase: HDB Loan vs. Bank Loan
Once you've identified a flat at Block 248, financing is typically the next consideration. You have two primary options: HDB loans or bank loans. Each has distinct advantages depending on your financial situation.
HDB Loan Option
Key features:
- Loan-to-value (LTV): Up to 80% of purchase price
- Interest rate: Fixed at 2.6% per annum (2026 rate)
- Loan tenure: Up to 25 years
- Income ceiling: Household income must not exceed S$14,000/month
- Minimum down payment: 5% cash (remaining 15% covered by CPF)
For a S$648,000 flat, an HDB loan of S$518,400 (80%) would require a minimum cash down payment of S$32,400 (5%), with S$97,200 (15%) from your CPF Ordinary Account. Monthly instalments would be approximately S$2,100-S$2,300 depending on loan tenure.
The HDB loan is attractive for its fixed interest rate and lower down payment requirement, making it ideal for first-time buyers with limited cash reserves.
Bank Loan Option
Key features:
- Loan-to-value (LTV): Up to 75% of purchase price
- Interest rate: Variable rates (typically 3.5-4.5% in 2026, subject to market conditions)
- Loan tenure: Up to 25-30 years
- No income ceiling
- Minimum down payment: 25% cash (remaining 50% covered by CPF)
Bank loans offer flexibility for higher-income households without income ceiling restrictions, though they require a larger cash down payment and variable interest rates that could increase over time.
Use Homejourney's Bank Rates to compare current HDB loan rates and understand your monthly payment obligations before committing to a purchase.
The HDB Resale Buying Process: Step-by-Step
Understanding the resale process helps you navigate the purchase smoothly. The entire process typically takes 8-12 weeks from offer to completion.
Step 1: Verify Eligibility and Financial Readiness
Obtain your HDB Flat Eligibility (HFE) letter from HDB and assess your financial capacity. Calculate how much you can afford using your CPF savings, available grants, and loan eligibility.
Step 2: Search and View Properties
Browse available HDB resale flats at Block 248 and nearby blocks on Homejourney to compare options, prices, and unit configurations. Schedule viewings to inspect the actual unit, check condition, and assess the neighbourhood.
Step 3: Negotiate and Make an Offer
Once you've identified a suitable flat, negotiate the price with the seller. Most resale transactions involve some negotiation. Your offer should be documented in writing.
Step 4: Exercise Option to Purchase (OTP)
Upon agreement, the seller grants you an Option to Purchase, typically valid for 21 days. During this period, conduct your due diligence: survey the property, verify ownership, check for outstanding loans, and finalize your financing.
Step 5: Submit HDB Resale Application
Submit your resale application to HDB with required documents including your HFE letter, marriage certificate, CPF statements, and loan approval letters. HDB will assess your eligibility and approve the transaction.
Step 6: Complete the Transaction
Once HDB approves, you'll complete the purchase through a conveyancing lawyer. Funds are transferred, the flat is handed over, and ownership is officially transferred to you.
Required documents checklist:
- HDB Flat Eligibility (HFE) letter
- Marriage certificate (if applicable)
- Birth certificates of children (if applicable)
- CPF statements (last 12 months)
- Salary slips and income documents
- HDB or bank loan approval letter
- Identity cards and passports
- Proof of address
Factors Affecting Block 248's Resale Value
Several factors influence the resale price and investment potential of flats at Block 248 Tampines Street 21:
Remaining Lease: All units at this block have 99-year leasehold tenure.[1][3] With the block completed in 1983, units currently have approximately 57 years remaining on their leases. This is still well within the acceptable range for HDB financing and resale, though buyers should monitor lease decay over time.
Floor Level: Higher-floor units typically command premium prices due to better views, reduced noise, and perceived prestige. Units on floors 8-11 at this 11-storey block would attract higher valuations than lower-floor units.
Unit Facing: North or south-facing units with unblocked views are more desirable than units facing other blocks. East or west-facing units may experience more heat but offer different aesthetic preferences.
Proximity to Amenities: Units closer to the lift lobbies and main entrances are more convenient, though units with quieter surroundings away from main roads may be preferred by some buyers.
Estate Upgrades: HDB's ongoing upgrading programmes, including lift upgrading and common area improvements, enhance the block's appeal and can positively impact resale values.
