$1.49M HDB Sale Breaks Records in Kallang — What It Means for You

Authored by Raymond Tiah

The Highest Monthly Total in a Year — and a Sign of What’s Ahead

In April 2025, Singapore recorded 141 resale HDB flats sold for at least $1 million, the highest in a single month over the past year. This marks a sharp 30% increase from the 108 units transacted in March and signals a return of confidence in public housing as a long-term asset.

While million-dollar flats were once rare headlines, they are now becoming a consistent feature in the resale market.

But what’s really driving this trend, and what should you do if you’re a flat owner or aspiring buyer?

What’s Fueling the Surge in High-Value HDB Sales?

According to 99-SRX flash data, this surge wasn’t just driven by central areas. In fact, nearly 60% of the transactions came from non-mature estates, showing that value is being recognised well beyond the traditional hotspots.

There are a few key factors at play:

• Space matters: Larger 5-room and DBSS flats continue to draw top dollar.

• Location remains king: Central areas like Toa Payoh, Bukit Merah, Queenstown, and Kallang/Whampoa still dominate the list.

• Buyers are paying for lifestyle: Flats with modern renovations, high-floor views, and proximity to MRT stations often fetch the highest premiums.

• Limited supply: With fewer new BTO launches in mature estates, resale flats with rare layouts or favourable lease lengths are in high demand.

Prices Continue to Rise, Even as Sales Volume Slips

Prices rose 0.7% month-on-month and 9.3% year-on-year, with 3-room flats leading price growth at 10.2% YoY.

However, total sales volume dipped 3.3% compared to April 2024, indicating a shift: while buyers are willing to pay more, they are becoming more selective and cautious.

Affordability concerns and a tighter supply of quality units may be starting to cap transaction volume, even as prices climb.

Spotlight: Toa Payoh’s $1.49M Flat

One standout was a 5-room resale flat in Toa Payoh, which fetched $1.49 million, on par with record DBSS transactions seen in other mature estates.

Its appeal?

• A rare large-size layout

• City-fringe convenience

• Long remaining lease

Buyers continue to show that they are willing to pay a premium for space, convenience, and future value, especially in central mature estates.

What This Means for You

If you’re a flat owner in a well-located estate, especially with a high-floor unit, rare layout, or recent renovation — now may be the right time to act.

And if you’re an upgrader or investor, these trends highlight where demand (and future value) is heading:

• Layout and lease length matter more than ever

• Million-dollar prices are becoming the norm in specific neighbourhoods

• Strategic timing can unlock significant gains — but only if you know your numbers

Final Thoughts: The Market Is Evolving: Are You Ready?

The data shows a clear shift: public housing is increasingly viewed as a valuable long-term asset, not just a starter home.

With prices climbing and buyer expectations rising, understanding your property's true market position is key, whether you're planning to sell, buy, or upgrade.

📩 Not sure what your flat is worth? Thinking about your next move?

Let’s have a proper conversation — no pressure, just clarity.
🔴 DM @raytiah318 or follow for timely market breakdowns and personalised advice.

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