@fonfukajoe While you may be planning to stay in the area for 8 years, doesn't mean you need to commit to an apartment rental for that long kan?
It may be worth renting a unit of that size for 1-2 years to see if a) it's comfortable enough for your family and if you want to commit to the location. b) in case anything unexpected happens like change of job or more kids.
Worse case scenario, the additional time gives you more breathing room to save for a larger unit if you need to. To prevent FoMo about "well, I can afford this now, what if price goes up?", perhaps analyse the house pricing in the area and whether in has increased much in the last 5+ years. Considering that's when the MRT came in, unlikely the price will shoot up again, unless some other economic issue arises.
Also, what size home are you currently living in, and how much of a step down is a 1000sq foot unit?