Just weeks after a record-setting S$1.73 million sale for a 5-room flat in Queenstown made headlines last month, a neighbouring town has now joined the ranks of Singapore’s top HDB transactions. A 5-room flat in Bukit Merah recently changed hands for a record S$1.648 million, placing the estate among the few towns that have recorded resale deals above S$1.6 million.
Table of contents
- S$1.648 million HDB flat in Bukit Merah
- Bukit Merah’s 5-room resale price range
- Recent transactions in Tiong Bahru View
- Behind the high-value resale deals
- Large HDB homes with city-fringe access
- Most expensive HDB flats in Singapore
S$1.648 million HDB flat in Bukit Merah
In mid-March 2026, a 5-room flat at Tiong Bahru View changed hands for S$1.648 million, or about S$1,367 psf. The Improved-type unit measures 1,206 sqft and sits between the 25th and 27th storeys at Block 9A Boon Tiong Road. The flat still has around 88 years and 10 months remaining on its lease.
This transaction surpasses the previous record for a 5-room resale flat in Bukit Merah. That earlier deal involved a similar 1,206 sqft unit at the neighbouring Block 9B, which sold for S$1.588 million (S$1,317 psf) in June 2024. While that unit sat higher, between the 34th and 36th floors, the latest transaction still managed to push the price benchmark further.
Tiong Bahru View was built under the Selective En-bloc Redevelopment Scheme (SERS). The project serves as replacement housing for former blocks at 110, 111, 113 and 114 Bukit Merah View. Under SERS, affected residents receive new replacement flats, often located nearby, on a fresh 99-year lease. As a result, these blocks carry a relatively recent lease commencement of 2016 despite being located in a mature estate.
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Bukit Merah’s 5-room resale price range
Based on data from the Housing and Development Board, around 40 5-room flats in Bukit Merah have been sold so far in 2026. Prices range from about S$690,000 to S$1.648 million. At the time of writing, only two 5-room flats in the town have crossed the S$1.5 million mark this year.
Besides the recent record-breaking deal, the other transaction above this threshold took place at City Vue @ Henderson. In January 2026, a 1,216 sqft unit at 96A Henderson Road sold for S$1.53 million, or roughly S$1,258 psf. The flat sits between the 34th and 36th storeys and has about 92 years remaining on its lease.
Transactions above S$1.5 million are still relatively uncommon in Bukit Merah. However, several such deals have appeared across 2024 and 2025, which suggests that prices in the area have gradually moved into a higher bracket in recent years.
Recent transactions in Tiong Bahru View
Resale activity at Tiong Bahru View has remained active since the development’s flats reached their Minimum Occupation Period (MOP) in 2020. Since then, the estate has steadily produced a number of million-dollar transactions, although the latest deal marks the first time a unit there has crossed the S$1.6 million mark.
Over the past year, prices at Block 9A ranged from about S$1.26 million for a low-floor unit sold in April 2025 to S$1.58 million for a high-floor unit that changed hands in September 2025, excluding the latest record sale. A similar unit on the same 25th to 27th floors previously sold for S$1.53 million in August 2025.
Neighbouring Block 9B has recorded comparable transactions. In July 2025, a 5-room unit on the 19th to 21st floors fetched S$1.57 million, while another unit on the 10th to 12th floors sold for S$1.44 million two months earlier.
The other two blocks in the development, 10A and 10B, mainly consist of 3- and 4-room flats. 4-room units have also crossed the million-dollar mark, with prices reaching about S$1.24 million at Block 10A and S$1.23 million at Block 10B. Meanwhile, 3-room flats in the estate have sold for as much as S$910,000 — the highest-priced 3-room HDB resale ever recorded in Bukit Merah.
Behind the high-value resale deals
Apart from its long remaining lease, location also plays a significant role in why resale prices at Tiong Bahru View have trended higher in recent years. The development sits within walking distance of Tiong Bahru MRT Station, which connects residents directly to the city centre.
Daily amenities are also plentiful nearby, including Tiong Bahru Plaza, Beo Crescent Market, Havelock Road Cooked Food Centre, and the well-known Tiong Bahru Market and Food Centre. Green space is also close by at Tiong Bahru Park. In addition, the estate sits just a short drive from major employment and lifestyle districts such as Orchard Road and the Central Business District (CBD).
More importantly, families may also find the area appealing due to the presence of several schools nearby, including Alexandra Primary School, Zhangde Primary School, and Gan Eng Seng School, all located within a 1km radius.
Large HDB homes with city-fringe access
Large HDB flats in city-fringe estates continue to see strong demand in the resale market. One reason is the limited supply of larger units in central locations through HDB’s Build-To-Order (BTO) programme. In recent years, most BTO launches have prioritised 4-room flats, while 5-room units appear less frequently.
When 5-room BTO flats are offered, they often appear in newer towns located further from the city centre. As a result, buyers who want a larger home closer to the city, with good transport access and a relatively long remaining lease, often have to turn to the resale market instead.
The recent record-breaking transaction at Tiong Bahru View reflects this trend. The S$1.648 million deal now ranks as the third most expensive HDB resale transaction recorded in Singapore so far. The top two transactions were both recorded at SkyTerrace @ Dawson in Queenstown, a development that also carries a relatively new lease starting from 2016.
Most expensive HDB flats in Singapore
| Date | Project | Address | Size (sqft) | Price (S$) | PSF (S$) | Type | Lease Start |
| 02/2026 | SkyTerrace @ Dawson | 92 Dawson Road | 1,313 | 1.7 M | 1,294 | 5RM Loft | 2016 |
| 06/2025 | SkyTerrace @ Dawson | 92 Dawson Road | 1,313 | 1.659 M | 1,263 | 5RM Loft | 2016 |
| 03/2026 | Tiong Bahru View | 9A Boon Tiong Road | 1,206 | 1.649 M | 1,367 | 5RM (Improved) | 2016 |
| 11/2025 | Natura Loft | 275A Bishan Street 24 | 1,292 | 1.632 M | 1,263 | 5RM DBSS | 2011 |
| 08/2025 | The Pinnacle @ Duxton | 1G Cantonment Road | 1,130 | 1.6 M | 1,415 | 5RM | 2011 |
| 01/2025 | The Peak @ Toa Payoh | 138A Lorong 1A Toa Payoh | 1,259 | 1.6 M | 1,270 | 5RM DBSS | 2012 |
| 11/2025 | Bishan Green | 135 Bishan Street 12 | 1,755 | 1.6 M | 911 | EXE | 1986 |
Only a small number of HDB resale flats have crossed the S$1.6 million mark as of March 2026. Almost all of these deals involve 5-room flats in relatively newer developments, with the oldest among them carrying a lease that started in 2011. One notable exception is an executive flat at Bishan Green, which fetched S$1.6 million despite the project being close to 40 years old.
Most of these top-tier HDB transactions tend to cluster in towns such as Queenstown, Bishan, Toa Payoh, and the Central Area. Many of the record-setting deals also come from the highly sought-after projects, such as SkyTerrace @ Dawson and The Peak @ Toa Payoh, which tend to command stronger premiums due to their more attractive attributes.
While these standout transactions may raise concerns about public housing affordability, they still represent a small segment of the overall resale market. In fact, many 5-room flats in these same towns can still be found listed for under S$1 million in the resale market.
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The post A 5-room flat in Bukit Merah was sold for record S$1.648M — the third most expensive HDB in Singapore appeared first on .
