Five-room resales flat in Bukit Merah sells for record S$1.59 million

The HDB unit in Bukit Merah, a five-room flat on Boon Tiong Road, has been sold for S$1,588,000. This is the most expensive HDB unit previously resold in Singapore.

This is based on PropNex Realty, who on Tuesday (Apr 30) declared the fact that one of their property agents was in charge of the transaction April 28.

The real estate agent added that the cost “smashed the previous record” of approximately S$1,569,000 for a five-room Design, Build and Sell Scheme apartment in Lorong 1A Toa Payoh achieved in January 2024.

The 35th floor is located above of the 40-storey 9B Boon Tiong Road, the 112 square metre resale flat has a 99-year lease commencing from January 2016.

The HDB project Tiong Bahru view comprising blocks 9A,9B,10A and 10B, is the one.

Lim Yong Hock, PropNex’s key executive officer, said the unit “essentially meets all the criteria” in light of its “top characteristics” in proximity to city amenities, located situated on a top floor and having a relatively lengthy lease balance.

“Furthermore we have also observed steady demand for five-room resale flats in areas that are a bit more urban because five-room apartments aren’t typically offered in HDB’s Build-To-Order projects in choice locations closer to the city.”

Find out more about: The LakeGarden Residences


Tiong Bahru View is the new housing site in Singapore’s selective en bloc redevelopment program for blocks at 110 111, 113, and 114 Bukit Merah View. They have been demolished since then.

PropNex declared that the HDB information for the Tiong Bahru View flat sold at least S$1,000,000 by July 2018 but does not reflect the S$1,59 million transaction.

Just at 9B Boon Tiong Road A total of 13 million-dollar flats have been sold. It includes three four-roomers, 10 five-roomers, and the latest record-breaking sale.

PropNex noted that the five rooms comprising 10 units in flats for resales in Block 9B were sold for prices that ranged between S$1.05 million and S$1.4 million.

Prior to the latest transaction located at 9B Boon Tiong Road, three other HDB flats had been sold for S$1.5 million. Two of which are situated in Toa Payoh and were resold in January 2024. Another flat was sold in Bukit Merah in June 2023. It is located within Moh Guan Terrace.

PropNex observed a continued increase in million-dollar resale flats in recent years, and predicted that such transactions are likely to remain elevated in 2024, and possibly surpass 2023 when 469 million-dollar HDB units are resold.

Lim commented that the most recent million-dollar flat resale deals “still accounted for a small portion” of overall HDB flat resale transactions.

The general demand for HDB flats that are resold is “healthy” according to his view.

The chief executive stated, “We project that HDB resale volumes will be around 26,000-27,000 units for the entire 2024 period.”

error: Content is protected !!