New HDB Resale Record: 5-Room Henderson Road Flat Sells for $1.73M

A five-room resale flat at City Vue @ Henderson has set a new national record for the most expensive Housing and Development Board (HDB) flat ever sold in Singapore, fetching S$1.728 million.

The transaction, located on Henderson Road in the Bukit Merah area, surpasses the previous all-time high for HDB resale units previously held by a flat at SkyTerrace @ Dawson.

Record-Breaking Transaction Details

The sale of the five-room unit at City Vue @ Henderson for S$1.728 million marks a significant milestone in the Singapore public housing market. This figure establishes a new ceiling for resale prices, reflecting the increasing valuation of flats in prime locations.

The property is situated within the City Vue @ Henderson development, a project known for its proximity to the central business district and its modern amenities. The sale price exceeds the previous benchmark set by a unit at SkyTerrace @ Dawson, which had previously stood as the most expensive resale flat in the country.

Market Trends in Prime HDB Resales

The record-breaking sale is part of a broader trend involving high-value transactions for HDB flats located in prime districts. These properties often command prices that rival some private condominiums due to their location, lease remaining and the specific attributes of the development.

Analysts have noted that buyers are increasingly willing to pay premiums for flats in areas like Bukit Merah and Dawson, where connectivity to the city center is high. The emergence of million-dollar HDB flats, once a rarity, has become more frequent as demand for centrally located public housing remains strong.

Factors contributing to these price peaks typically include:

• Proximity to major employment hubs and the Central Business District.
• The age of the building and the remaining lease tenure.
• The specific floor level and layout of the unit.
• The availability of nearby transport links and amenities.

Context of the HDB Resale Market

While the S$1.728 million sale represents the extreme upper end of the market, it highlights the widening gap between standard HDB resale flats and those in highly sought-after “premium” locations. The HDB resale market continues to be influenced by government cooling measures and the supply of Build-To-Order (BTO) flats, but prime locations often remain insulated from broader market fluctuations.

The transition of the record from SkyTerrace @ Dawson to City Vue @ Henderson suggests that the market for high-end public housing is continuing to expand, with buyers viewing these assets not only as homes but as high-value real estate holdings within the public housing framework.