724 Clementi West Street 2 HDB Guide: Clementi Buyer's Bible | Homejourney
724 Clementi West Street 2 stands as a prime example of mature Clementi HDB living, offering 96 units of 5-room flats in a 25-storey block completed in 1980.
This 99-year leasehold development in District 5 attracts first-time buyers, upgraders, and investors seeking convenience near NUS and Clementi MRT. Homejourney verifies all data to ensure you make safe, informed decisions in Singapore's competitive HDB resale market.
Table of Contents
- Executive Summary
- 1. Block Overview and History
- 2. Location and Amenities
- 3. Property Prices and Market Trends
- 4. Buying HDB Resale in 724 Clementi West Street 2
- 5. Financing Options and Costs
- 6. Pros, Cons, and Decision Framework
- 7. Common Mistakes to Avoid
- 8. Investment Potential
- FAQ
- Next Steps with Homejourney
Executive Summary: Why 724 Clementi West Street 2 Matters
Located in vibrant Clementi, 724 Clementi West Street 2 offers spacious 5-room HDB flats averaging 118 sqm, with recent resale prices from S$600,000 to S$738,000[1][3][7]. Built in 1980 by HDB, this block provides mature estate perks like proximity to top schools, parks, and MRT—ideal for families.
In 2026's market, Clementi HDB flats see steady demand due to West Region growth and en bloc potential in older estates. Homejourney prioritizes your safety by verifying transactions and offering transparent tools for Clementi HDB searches.
Key stats: PSF S$473–S$582, rentals S$3,000–S$4,200 monthly[4][7]. This guide equips you with data-driven insights, from HDB rules to CPF strategies.
1. Block Overview and History
Development Details
724 Clementi West Street 2 (S)120724) is a single 25-storey HDB block with 96 units, all 5-room (5I model) flats around 118 sqm[1][3]. Tenure: 99-year leasehold from 1981, leaving ~54 years as of 2026[10].
Completed in 1980, it exemplifies Clementi's early HDB growth, now part of a mature town with mixed amenities. Units feature standard layouts: living/dining, 3 bedrooms, kitchen, 2 baths—perfect for families[5].
Insider Tip: Local Experience
As someone familiar with Clementi, note the block's quiet mid-level floors (10-12) offer best value—recent sale at S$660K[4][6]. Avoid ground floors for privacy; higher stacks have better views of Clementi Woods.
2. Location and Amenities
Prime Clementi Positioning
Situated in District 5, Clementi West, it's 5-min walk to Clementi MRT (EW17), 10-min to NUS via bus[3]. Clementi Town Centre—mall, library, bus interchange—is 12-min walk.
Nearby: Clementi Swimming Complex (800m), Clementi Woods Park (1.2km), Clementi Sports Hall. Schools like Clementi Primary (1km), NUS High (1.5km) boost family appeal[3].
Amenities Table
| Amenity | Distance/Walk Time | Type |
|---|---|---|
| Clementi MRT | 5 mins | Transport |
| Clementi Mall | 12 mins | Shopping |
| Clementi Woods Park | 15 mins | Parks |
| NUS | Bus 10 mins | Education |
Homejourney's Property Search ">property search maps these precisely for Clementi West Street 2 buyers.
3. Property Prices and Market Trends
Recent Transactions
May 2024: S$660K (10-12 storey, 118 sqm, S$520 psf)[4][6][7]. Oct 2023: S$738K (high floor, S$582 psf)[7]. Prices rose 10-15% since 2021 (S$520K low)[7].
PSF range: S$473–S$582; average S$550[1][7]. Rentals: S$3,700–S$4,200 (5RM)[4].
Price Trends Table (2020-2024)
| Date | Price | PSF | Storey |
|---|---|---|---|
| May 2024 | S$660K | S$520 | 10-12 |
| Oct 2023 | S$738K | S$582 | 22 |
| Feb 2023 | S$600K | S$473 | 4 |
Clementi HDB property prices trend upward with URA cooling measures easingStraits Times Housing News . Check Homejourney's Projects Directory ">projects directory for updates.
4. Buying HDB Resale in 724 Clementi West Street 2
Step-by-Step Process
- Eligibility Check: HDB flat eligibility via Singpass. Minimum 5-year wait for some[Official HDB].
- Search: Use Homejourney's Property Search ">property search for 724 Clementi West Street 2 HDB resale.
- Option to Purchase (OTP): Pay S$1K–S$2K fee, 21 days validity.
- HDB Resale Portal: Submit within 7–15 days; HDB approves in 8–12 weeks.
- Completion: 8 weeks post-approval; pay balance.
Timeline: 3–4 months total. Documents: NRIC, income proof, CPF statements.
HDB Regulations 2026
Singapore citizens: MSR 30% of income; LTV 75%[Official HDB]. PRs: Extra stamp duty. Foreigners: ABSD 60% (2026 rates)[Official IRAS].
5. Financing Options and Costs
Cost Breakdown Table
| Item | Estimate (S$660K Flat) |
|---|---|
| Purchase Price | S$660,000 |
| ABSD (Citizen) | S$0 |
| BSD | S$15,600 (2.4% tier) |
| Legal Fees | S$3,000–S$5,000 |
| Agent Fee (Optional) | S$0 (Homejourney free tools) |
| Total Upfront | ~S$30K + downpayment |
CPF: Use OA for downpayment (up to 20%), monthly repayments. Check Bank Rates ">bank rates or Mortgage Rates ">mortgage rates on Homejourney. TDSR: 55% total debt[Official MAS].
Hidden costs: Renovations S$30K–S$50K; maintenance via aircon services—see Aircon Services ">aircon services.
6. Pros, Cons, and Decision Framework
- Pros: MRT proximity, schools, mature amenities; stable property prices[3].
- Cons: Older build (1980), shorter lease; potential en bloc but uncertain.
- Best For: Families near NUS; investors eyeing rentals S$4K[4].
Framework: Score location (9/10), price (8/10), lease (6/10). Total: Strong buy under S$700K.
7. Common Mistakes to Avoid
Mistake 1: Ignoring lease decay—54 years left impacts loans[Official HDB]. Fix: Calculate via HDB portal.
Mistake 2: Overlooking defects—inspect for leaks in 40+ year block. Use Homejourney verified listings.
Mistake 3: Poor financing—exceed MSR. Example: S$660K at 4% rate = S$3K/month; stay under 30% income.
Red flags: Seller rushing OTP; unverified title issues. Homejourney ensures transparency.
8. Investment Potential
Rental yield: ~5% (S$4K rent / S$700K value). Growth: 5-7% annual in Clementi[7]. Compare to 671A Jurong West Street 65 HDB Investment: Growth Potential | Homejourney ">Jurong West HDB investment.
Original Insight: With West Shore developments, Clementi HDB resale could appreciate 15% by 2030, but monitor SERS.
FAQ: 724 Clementi West Street 2 and Clementi HDB
Q: What is the average price of 724 Clementi West Street 2 HDB flats?
A: S$600K–S$738K, avg S$660K (118 sqm)[1][7].
Q: Is 724 Clementi West Street 2 near MRT?
A: Yes, 5-min walk to Clementi MRT[3].
Q: Can foreigners buy here?
A: Yes, but 60% ABSD; check HDB eligibility.
Q: Rental prices in Clementi West Street 2?
A: S$3,700–S$4,200 for 5RM[4].
Q: How to finance HDB resale?
A: HDB/ bank loans up to 75% LTV; use Bank Rates ">Homejourney bank rates.
Q: Best floors to buy?
A: Mid-high (10-22) for value and views.
Q: Any SERS plans?
A: None announced; monitor HDB site.
Next Steps with Homejourney
1. Search verified 724 Clementi West Street 2 listings on Property Search ">Homejourney property search.
2. Calculate affordability via our tools, linking to Mortgage Rates ">mortgage rates.
3. Book viewings safely—Homejourney verifies sellers for trust.
Homejourney builds a safe space for your property journey, listening to feedback for better service. Start today for confident Clementi Singapore HDB decisions.
References
- Singapore Property Market Analysis 1 (2026)
- Singapore Property Market Analysis 3 (2026)
- Singapore Property Market Analysis 7 (2026)
- Singapore Property Market Analysis 4 (2026)
- Singapore Property Market Analysis 10 (2026)
- Singapore Property Market Analysis 5 (2026)
- Singapore Property Market Analysis 6 (2026)
