3-room flats fetch record prices: S$935K at Queenstown, S$730K in Bedok

SINGAPORE: HDB flats continue to fetch high prices, with two three-room units, one in Queenstown and another in Bedok, recently setting records.

In Queenstown, a resale unit at Block 95 Skyparc@Dawson was sold for under a million dollars. The property portal and real estate technology company 99.co called the S$935,000 transaction a new national all-time high.

Meanwhile, the unit on one of the top floors of Block 429B Bedok North Road changed hands for S$730,000. The portal noted that the previous record for Bedok, S$689,000, had only been set the month before. This unit is located on the same block, albeit on one of the lower storeys.

“This recent transaction represents a jump of S$41K and marks the first time a 3-room HDB in Bedok has crossed the S$700K mark,” noted 99.co.

The portal pointed out, however, that the buyer of the new record-setting Bedok unit has a good thing on their hands for several reasons. It called it a “fresh” unit that is practically new, with a remaining lease of 95 years and one month.

The 743 sq ft unit means it sold for S$982 per square foot (psf), which means that it almost breached the S$1,000 mark psf. In comparison, 3-room units in Bedok go for an average of S$615 psf, and the average around the city-state is S$640 psf.

It very recently completed its MOP (Minimum Occupation Period), and was one of the first among units at Bedok North Woods HDB to be put up for resale.

“From a cost-to-value standpoint, the original BTO prices for these 3-room flats in Bedok North Woods started from just S$272K (excluding grants). That puts the S$730K sale at nearly triple the original price, all within just five years,” 99.co noted, calling it a success story for a unit sold just after MOP.

In Queenstown, meanwhile, the Premium unit that set the new record for 3-room flats measures 710 sq ft and is located on the 34th to 36th storeys of the block. It has 95 years and 7 months left on its lease, as  SkyParc @ Dawson is part of the SERS exercise at Tanglin Halt.

While the new owners may have been more than happy to pay a top price for gorgeous city views and that unit’s exceptional location, the price the new owner paid is substantially higher than the average price of the area’s 3-room flats, which is S$559,327.

Shin Min Daily News recently noted that in 2025, new records have been set in 18 out of 26 towns with resale flats. /TISG

Read also: 5-room HDB loft at Queenstown sells for S$1.658 million