Bukit Merah 3-room flat sells for record S$860,000, over 90 years remaining on lease

A three-room HDB resale flat in Bukit Merah has been sold for a cool S$860,000.

According to HDB resale statistics, the flat in 10A Boon Tiong Road is located between floors 34 to 36 and occupies 62 sq m (667 sq ft), which works out to a psf of S$1,289.

It was sold in August, with 90 years and 6 months left on its lease.

According to 99.co, the lease started in 2016.

Previously, the most expensive 3-room flat in the Bukit Merah area was a Havelock Road unit sold for S$818,000 in May.

Great views and location

According to a 99.co report, the high floor flat offers "panoramic" views.

It is also situated in the Tiong Bahru View estate, which has proximity to the city, amenities within the estate and easy access to the Tiong Bahru MRT station.

Tiong Bahru View comprises blocks 9A, 9B, 10A and 10B.

It is a stone's throw from Tiong Bahru Plaza.

The building has 40 storeys of flats.

Not the first time

This is not the first time the Tiong Bahru View estate has made headlines for record high resale prices.

A five-room flat in Tiong Bahru View previously held the record for the most expensive resale HDB flat sold in Singapore.

It was sold for S$1.588 million in April 2024.

That record is now held by a 5-room resale HDB flat at Margaret Drive which changed hands for S$1.73 million on Jun. 26.

PropNex Realty previously disclosed that since July 2018, 43 HDB flats in Tiong Bahru View have sold for at least S$1 million, based on their sales data as of Apr. 30.

Flats with very high resale prices a minority

On Aug. 19, Minister for National Development Desmond Lee addressed concerns about record HDB resale prices that have recently made the headlines.

He said that such transactions make up only 0.5 per cent of all four-room or smaller flats transacted in the last two years.

In September 2023, Lee noted that among the million-dollar HDB flat transactions registered from July 2015 to June 2023, the median age of the buyers was 40 years old.

About 94 per cent of the buyers were Singapore citizens, while about 6 per cent were permanent residents.

Related articles

Top image from Google Street View