SINGAPORE: A three-room HDB flat in Bidadari has been resold for an impressive $900,000, setting a new local resale price record for such flats, excluding terrace houses.
The unit, which changed hands in December 2024, is located at Block 115C, Alkaff Lakeview, within the Alkaff Crescent development. Situated between the 13th and 15th floors, the flat has a total area of 71 square meters.
The Alkaff Lakeview project has just reached its Minimum Occupation Period (MOP), meaning that it is now eligible for resale. The unit still has 95 years and one month remaining on its lease, further boosting its appeal to potential buyers.
This new record-breaking resale comes as no surprise to industry observers, given the flat’s prime location. A recent report by real estate platform Stacked Homes highlighted that the area was one of the most sought-after when the project was first launched. Notably, the flat is within walking distance of Woodleigh MRT Station, and there are several prestigious schools in the vicinity, adding to its desirability.
The flat’s location offers a scenic view of Bidadari Park and Alkaff Lake, and as a corner unit, it enjoys increased privacy, which may have contributed to its higher-than-expected price tag. The rarity of such units in the area is another factor that could have driven the demand, as only Alkaff Vista in the surrounding area has a comparable transaction record. However, Alkaff Vista does not have any three-bedroom units, making this particular sale significant.
This sale breaks the previous record for the highest resale price for a non-landed three-room HDB flat, excluding terrace houses, which had been held by a unit sold for $860,000 at Block 10A, Boon Tiong Road, in August 2024. The Boon Tiong Road flat, located near Tiong Bahru MRT station, had a total area of 62 square meters and a remaining lease of 90 years and six months at the time of sale.
It is important to note that the record set by the Bidadari flat still pales in comparison to the resale prices of three-room landed HDB flats in Jalan Ma’mor, which sold for prices upwards of $1.2 million last year. These flats, built in 1972, are now rare, with less than 50 years left on their leases. Their larger size and unique status as landed properties in a city primarily dominated by high-rise buildings have made them increasingly valuable.
