5-room HDB Flat In Bukit Merah Sold For Record $1.2m

Romesh Navaratnarajah8 May 2019

Located on a high floor, the 112 sq m flat in Boon Tiong Road has a remaining lease of 95 years.

A standard 5-room HDB flat was sold for $1.2 million in April this year – the first time that a standard HDB flat price surpassed the most expensive non-standard flats (DBSS units, terraces, maisonettes or flats at Pinnacle@Duxton) ever sold, revealed an OrangeTee & Tie report.

Located between the 34th and 36th storeys, the 112 sq m flat in Boon Tiong Road has a remaining lease of 95 years.

Looking to buy an HDB flat? Get more insights on the right locations for your new home at AreaInsider.

It smashed the previous records set by a 5-room DBSS unit at Boon Keng Road sold in January this year and a 237 sq m HDB Terrace at Jalan Bahagia in September 2018, both of which were sold at $1.185 million.

The property consultancy noted that while only 26 standard flats were sold for over $1 million as of April this year, the number has been steadily rising through the years.

In fact, it expects more of such transactions “as many new flats in mature estates like Bukit Merah and Queenstown will be reaching minimum occupation period (MOP) in the coming months”.

OrangeTee & Tie added that demand for HDB resale flats remains resilient, with sales volume for Q1 2019 hitting a seven-year high of 4,835 units sold.

The figure is 8.5 percent higher compared to the same period last year, but down 14.2 percent on a quarterly basis.

“The quarter-on-quarter decline is within expectation as the number of resale applications is usually lowest in the first quarter of the year due to slower marketing activities immediately after the year-end holidays and during the Chinese New Year period,” it explained.

Looking ahead, OrangeTee & Tie expects the HDB resale volume to increase “in tandem with more flats reaching five-year MOP this year”.

Resale prices may also continue “to stabilise as the HDB price index declined marginally by 0.3 percent in Q1”.

Find HDB flats for sale or read our HDB guides to make better-informed decisions. Can you afford a million-dollar HDB flat? Check your affordability now. 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

John Lim
May 10, 2019
This is great news
Robert Lim
May 10, 2019
Well done,seller !!!

You may also like these articles

Are million-dollar HDB flats becoming the norm?

The iconic Pinnacle @ Duxton has led to an uptick in million dollar flats sold per quarter.As we see recurring headlines of sky-high resale HDB transactions, should Singaporeans worry that such prices

Continue Reading26 Aug 2016

Queenstown HDB flat sold for $1.1m, setting new record for 5-room flats outside Pinnacle @ Duxton

View of Block 18C Holland Drive.An HDB resale flat at Holland Drive in Queenstown has been sold for a sky-high price of $1.1 million in June, setting a new record for the most expensive 5-room unit so

Continue Reading8 Jun 2018

71 HDB flats changed hands for over $1mil in 2018

The number of HDB resale deals has increased significantly from just two in 2014 and 46 in 2017.A record number of HDB resale flats were sold at over $1 million for the whole of 2018, even though the

Continue Reading28 Jan 2019