FoundOnEdgeProp: HDB flats with record-breaking asking prices

, Bukit Merah properties, Bishan properties, and Toa Payoh properties on EdgeProp.sg now.HDB flats are fetching increasingly higher prices in Singapore, with a few HDB flats having already broken the million-dollar mark this year. In 2021 and 2022, there were 316 and 394 transactions, respectively, for flats that sell for at least $1 million. Currently, there are 328 such transactions this year. The highest price of $1.5 million was fetched by a four-room flat at 50 Moh Guan Terrace in Bukit Merah HDB town. The area is known for its bohemian charm and proximity to several amenities.The sale listing search also identified two potential listings in Tiong Bahru Estate that may set the next price ceiling for such flats – one with an asking price of $1.68 million and the other with an asking price of $2.25 million. There are also two listings for executive maisonettes or apartments with asking prices above $1.5 million in different HDB towns in the Central Region. One of these has an asking price of $1.98 million and is conveniently located within walking distance of a few amenities and schools, while the other has an asking price of $1.55 million and is situated beside Braddell MRT Station.On average, the prices of executive HDB flats in the Central Region have increased by 25% since 2013, outperforming other towns in the Toa Payoh district.

HDB flats in Singapore are fetching increasingly higher prices, with several transactions having already broken the coveted $1 million mark this year. Previously, such sale transactions numbered less than a hundred, but the number surged to 316 and 394 transactions in 2021 and 2022, respectively, and has already reached 328 at the time of writing.

The highest price of $1.5 million ($792 psf) was fetched by a four-room flat at 50 Moh Guan Terrace in Bukit Merah HDB town. Located a short walk away from the historic Tiong Bahru Estate, Tiong Bahru Market and Food Centre, and Tiong Bahru MRT Station, this 73-year-old flat holds the record for the most expensive HDB sale this year.

Two listings in the historic Tiong Bahru Estate have the potential to set the next price ceiling for HDB flats. A listing for a flat along Seng Poh Road had an asking price of $2.25 million ($1,286 psf), while another listing for a flat along Tiong Poh Road had an asking price of $1.68 million ($1,755 psf). Both flats have three bedrooms and tenures of 99 years that started in the 1960s.

Five-room HDB flats in Bukit Merah Town currently have the highest average price of $724 psf, compared to their counterparts in the Central Region ($708 psf) and islandwide ($540 psf). Average prices for five-room HDB flats in Bukit Merah (16%) and Central Region (19%) are, however, growing more slowly than their islandwide counterparts (21%).

On record, there are two unique listings for executive maisonettes or apartments with asking prices above $1.5 million. One of the listings is for a 1,582-sqft executive maisonette at 261 Bishan Street 22 with an asking price of $1.98 million ($1,252 psf). The flat is located on the top-floor and has four bedrooms, within walking distance of Bishan-Ang Mo Kio Park, Catholic High School, Whitley Secondary School, and Eunoia Junior College.

It is accessible via Bukit Panjang MRT Station and Bukit Panjang Bus Interchange. The future Senja Close EC is surrounded by numerous amenities such as Bukit Panjang Plaza and Westview Primary School. It is also located near the Junction 10 shopping Mall. Future residents of Senja Close EC will have an array of recreational activities such as fitness corner, yoga area, leisure pool and more. There are also several other facilities such as BBQ pits, children’s playground and ample car park lots.

The other listing is for a 1,604-sq ft executive apartment at 99C Lorong 2 Toa Payoh with an asking price of $1.55 million ($966 psf). Located beside Braddell MRT Station, the high-floor unit has four bedrooms and is within 1 km radius from several reputable schools, such as Raffles Institution and Marymount Convent School.

Executive HDB flats in the Central Region have seen a 25% increase in price since 2013, performing slightly better than their counterparts in Toa Payoh (21%) but slower than flats in Bishan (30%). Currently, flats in Bishan have the highest average price at $679 psf, compared to similar flats in Toa Payoh ($632 psf) and Central Region ($654 psf).

For those who are keen on buying or renting HDB flats in Tiong Bahru Estate, Bukit Merah, Bishan, or Toa Payoh, they can check out the latest listings on EdgeProp.sg.