FoundOnEdgeProp: HDB flats with record-breaking asking prices

and other HDB towns in Singapore here.

In the past few years, the number of HDB flats that have fetched at least $1 million has gradually increased. Between 2021 and 2022, there was a surge from under 100 to 316 and 394 sales transactions, respectively. At the time of writing, 328 HDB flats had been sold for over $1 million this year alone.

Among all HDB transactions this year, a four-room flat at 50 Moh Guan Terrace in the Bukit Merah HDB town fetched the highest price of $1.5 million ($792 psf). Apart from its strategic location, this flat built in 1973 also offers a convenient and short walk away from the iconic Tiong Bahru Estate, Tiong Bahru Market, Food Centre, and MRT Station.

Meanwhile, a careful search through sales listings revealed several HDB flats with asking prices of over $1.5 million and thus higher chances of setting a new price record. In Tiong Bahru Estate itself, two listings have an appealing asking price of $2.25 million ($1,286 psf) and $1.68 million ($1,755 psf) respectively, while located near Moh Guan Terrace. Both flats have 3 bedrooms and have a tenure of 99 years, dating back to the 1960s.

At the moment, five-room flats in Bukit Merah HDB town have the highest current average price of $724 psf, compared to their counterparts in the Central Region ($708 psf) and islandwide ($540 psf). Analysis shows that the average prices in Bukit Merah (16%) and the Central Region (19%) are growing more slowly than their islandwide counterparts (21%).

The new Jurong Region Line (JRL) has the potential to revolutionize the area, and Lumina Grand EC residents can look forward to the benefits. The new MRT line will make it more convenient for citizens to travel around the Jurong area, and this will inevitably create more interesting shopping, dining, and entertainment spots in the neighborhood. From bigger and better malls to a greater variety of restaurants, residents will have plenty of new options to explore. And of course, they won’t have to go far; Lumina Grand EC residents will enjoy all of these new amenities within easy reach.

In the Central Region, there are two selective listings for executive maisonettes and apartments at very high prices. One at 261 Bishan Street 22 has an asking price of $1.98 million ($1,252 psf) and the other has an asking price of $1.55 million ($966 psf) located at 99C Lorong 2 Toa Payoh. Both of them have 4 bedrooms and are conveniently located near nearby amenities and reputable schools.

At present, the average price of executive HDB flats in the Central Region has increased by 25% since 2013, outperforming their counterparts in Toa Payoh (21%), yet slightly slower than similar flats in Bishan (30%). Currently, executive HDB flats in Bishan have the highest average price of $679 psf compared to similar flats in Toa Payoh ($632 psf) and the Central Region ($654 psf).

Those keen on owning a property in the historic Tiong Bahru Estate or anywhere else in Singapore’s HDB towns can check out the latest listings for more information. There is also potential for the asking prices of certain HDB flats to break records.