Will $900,000 deals for three-room HDB flats remain the exception?

Those hoping to hit the jackpot should temper expectations in the near term

- Grace Leong

In the first 11 months of 2025, at least four three-room HDB flats, excluding terraced flats, resold at prices of at least $900,000. Three-room flats that transacted for at least $800,000 accounted for just 1.8 per cent of overall resales for this flat type during this period, reflecting that such deals remain a rarity.

(PHOTO: LIANHE ZAOBAO)

In the first 11 months of 2025, at least four three-room Housing Board flats, excluding terraced flats, resold at prices of at least $900,000.

This was up from the first and only such sale in 2024, igniting talk of windfall profits for their sellers.

But those hoping to hit the jackpot should temper their expectations, given that the majority of three-room resale flats transacted for an average of about $470,000 in the first 11 months of 2025.

Three-room flats that command high prices tend to have significantly longer leases and be on higher floors, as well as being centrally located near MRT stations, schools and amenities, analysts say.

One case in point: A 66 sq m premium apartment in SkyParc@Dawson, which had at least 95 years left on its lease, recorded the highest resale price for such units to date, at $935,000.

PropNex, which represented the buyers, said the Singaporean couple in their 50s sought to be nearer their workplace. They were prepared to pay over $900,000 for the Dawson Road unit because similar-sized new private homes nearby would have easily cost double that sum.

In the first 10 months of 2025, such new private homes in Queenstown sold for an average of $1.93 million. Resale condo units of a similar size sold for $1.55 million.