2-Room Tiong Bahru Flat Sold For S$585K, Breaks Record For Resale Apartment Of That Size

2-Room Flat In Tiong Bahru With 48.5 Years Left On Lease Sells For S$585,000

A 2-room HDB flat in Tiong Bahru recently changed hands for a staggering S$585,000, smashing the existing record for a resale apartment of a similar size.

While listed as a 2-room flat, the apartment is apparently closer in size to a 3-room flat today.

Earlier in June, a 4-room flat in the same area was sold for a record S$1.5 million. It currently holds the title of the most expensive HDB resale flat in Singapore.

67 sq metre flat in Tiong Bahru sells for S$585K

According to HDB’s resale flat price portal, the 2-room apartment is located between the first and third floors of 43 Moh Guan Terrace and measures 67.00 sq metres or about 721 sq feet.

Property site 99.co states that the flat is just 20 sq feet smaller than a modern-day 3-room flat, which measures about 69 sq metres or 743 sq feet.

The flat reportedly had 48.5  years left on its lease at the time of the transaction.

Not the first time flats in the area have sky-high prices

Interestingly, this isn’t the first time that an apartment from the quaint neighbourhood has changed hands for record prices.

In June, a 4-room flat at Block 50 Moh Guan Terrace — just a stone’s throw away — was sold for S$1.5 million.

The transaction broke the record for the most expensive resale flat in Singapore.

Further back in August 2020, a 4-room flat at Block 43 Moh Guan Terrace went for S$1.088 million despite having just 51 years left on its lease.

HDB’s records also show that a resale apartment at 127A Kim Tian Road — also in Bukit Merah — changed hands for S$510,000 in September 2022.

Do you think the price tag for the HDB home is reasonable? Share your thoughts in the comments.

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Featured image adapted from Google Maps.