Tiong Bahru HDB Flat Sold For S$1.5M, Becomes S’pore’s Most Expensive Resale Unit

Tiong Bahru 4-Room HDB Flat That Was Sold For S$1.5M Is Already 50 Years Old

As HDB resale flat prices go ever higher, million-dollar flats have already popped up everywhere, with benchmarks constantly being raised.

While many had threatened to hit the halfway mark to S$2 million, none had done so — until now.

A flat in Tiong Bahru has reportedly been sold for a cool S$1.5 million, setting a new record.

Source: Google Maps

It’s now the most expensive HDB resale flat in Singapore.

Flat located in Block 50 Moh Guan Terrace

The flat in question is on the top floor of 50 Moh Guan Terrace, a four-storey block in the quaint Tiong Bahru neighbourhood, according to real estate portal 99.co.

It’s one of a few clusters of iconic four-storey HDB blocks in the estate.

The blocks are typified by their lack of lifts, making those on higher levels unsuitable for the elderly and disabled.

Source: Google Maps

While they’re near amenities like Tiong Bahru Market & Food Centre and a community club, the biggest draw of the area is undoubtedly its old-school charm and cool cafes.

Tiong Bahru resale flat built in 1973

According to 99.co, Block 50 was completed in 1973 — meaning that it’s already 50 years old.

It also has just 48 years and eight months left on its 99-year lease.

On the surface, the short lease might seem to be a minus point that doesn’t justify the unit’s steep price.

Flat has massive floor area

However, one reason for the buyer being willing to fork out a huge sum might be the flat’s size.

It has a massive floor area of 1,894 square feet (sq ft), much bigger than the average four-roomer — typically about 1,000 sq ft, according to HDB.

Source: Knight Frank via EdgeProp

This also means that the flat is S$792 per square foot (psf) — lower than the average price psf for an HDB resale flat in Tiong Bahru.

The “adjoined flat”, as labelled by HDB, is one of only three four-roomers in Block 50.

Tiong Bahru flat is Singapore’s most expensive resale unit

Whatever reasons the buyer had, their outlay of S$1.5 million has made the new home Singapore’s most expensive resale flat.

Knight Frank Singapore, which brokered the deal, said the transaction beat the previous record holder — a five-roomer in SkyTerrace@Dawson that went for S$1.1418 million.

This record had stood for almost a year from July 2022.

That’s not all, though — the Tiong Bahru flat has also become the most expensive four-room flat in Singapore.

The previous crown was held by a unit in Pinnacle@Duxton that was sold for S$1.4 million.

While both these units had higher views and longer leases, they were also smaller at 1,313 sq ft (SkyTerrace@Dawson) and 1,023 sq ft (Pinnacle@Duxton).

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Featured image adapted from Google Maps.