FoundOnEdgeProp: HDB flats with record-breaking asking prices

, the highest current average price of $724 psf for five-room flats in Bukit Merah HDB town, and executive maisonettes or apartments in the central region with asking prices above $1.5 million here.

HDB flats fetching prices of more than $1 million have seen an increase in recent years. Just in 2021 and 2022, the number of such transactions was 316 and 394 respectively. At present, around 328 HDB units have sold for at least a million dollars.

50 Moh Guan Terrace in the Bukit Merah HDB town is the location of the flat that has fetched the highest price so far – $1.5 million or $792 per square foot (psf). The 1973-built property is a short walk away from the Tiong Bahru Estate, Tiong Bahru Market, and Food Centre, and the Tiong Bahru MRT Station.

In the search for properties that may set the new price ceiling for HDB flats, EdgeProp listings show that the asking prices of several HDB units that have been put up for sale are over $1.5 million. For instance, there’s one in Seng Poh Road with a price tag of $2.25 million ($1,286 psf) and another in Tiong Poh Road, offering a 99-year leasehold tenure that started in the 1960s, and asking for $1.68 million ($1,755 psf).

Tiong Bahru flats receive top dollar due to the area’s bohemian vibe and convenient amenities such as MRT Stations, Zhangde Primary School, and Tiong Bahru Plaza. Currently, five-room flats in Bukit Merah HDB town have the highest average price of $724 psf compared to those in the Central Region ($708 psf) and islandwide ($540 psf), although the rate of growth of prices is much lower than that of other locations.

Two listings for executive maisonettes/apartments in the Central Region have asking prices surpassing $1.5 million. These addresses include 261 Bishan Street 22, where a 1,582-sq ft four-bedroom apartment is listed at $1.98 million ($1,252 psf), and 99C Lorong 2 Toa Payoh, with a 1,604-sq ft four-bedroom flat going for $1.55 million ($966 psf).

The first flat is within walking distance of Bishan-Ang Mo Kio Park, Catholic High School, Whitley Secondary School, and Eunoia Junior College. The closest mall is Junction 8, but it requires a short drive. The nearest MRT station is the upcoming Teck Ghee station on the Cross Island Line, expected to be completed by 2030.

Nature enthusiasts will be excited to the nearby Bedok Reservoir Park and the Punggol Waterway Park, for a spot of leisure activities. Also, Sun Plaza, where many eateries and amenities are available, is located only a stone’s throw away from Tampines Ave 11 Condo Capitaland. The Master Plan also covers projects such as the Tampines Sports Hub, which will house a community gym and a swimming pool, and the upcoming Tampines North MRT station, set to be operational in 2029. With many upcoming infrastructure improvements, residents in this exciting new condo will be able to enjoy a more enhanced quality of life.

At 99C Lorong 2 Toa Payoh, conveniently located beside Braddell MRT Station, parents will appreciate the presence of a number of reputable schools in a 1km radius, such as Raffles Institution, Marymount Convent School, and CHIJ Primary and Secondary. Other nearby amenities include Jackson Square plus Toa Payoh West Market and Food Centre.

The average price of executive HDB flats in the Central Region has gone up by 25% since 2013. That’s better than the 21% growth in Toa Payoh but lags behind the 30% in Bishan, where the highest current average price now stands at $679 psf. For comparison, in the Toa Payoh vicinity, these flats are priced at $632 psf on average, while the Central Region’s rate is $654 psf.

For the latest listings of properties in Tiong Bahru Estate, five-room flats with the highest average price of $724 psf at Bukit Merah HDB town, and executive maisonettes or apartments in the Central Region asking for prices above $1.5 million, click here.