When you think about a 3-room HDB flat, you probably picture it as an affordable option in the resale market. Yet, the market has been challenging this perception lately. Just a couple of weeks ago, a 3-room unit in Toa Payoh changed hands for S$920,000 – just S$15,000 short of the national all-time high for the most expensive non-landed HDB resale flat in Singapore.
Not long after that, at the end of July, Bukit Merah saw its own record broken. A 3-room flat there sold for S$860,000, setting a new all-time high for this flat type in the area.
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The S$860,000 sale in Havelock View
The S$860,000 transaction took place at Havelock View, specifically in Block 58 along Havelock Road. The flat sits on a very high floor, between the 34th and 36th levels – the project’s topmost levels – which likely played a role in pushing its value higher. Based on the sale price, the unit’s price works out to about S$1,157 per square foot (psf).
Havelock View’s lease began in 2013, which means it still has roughly 86 years and 10 months remaining. This is a rare find in Bukit Merah, where the average remaining lease for HDB flats is around 60 years.
Curious if your home could be a million-dollar resale? Check its value in under a minute with 99.co’s Property Value Tool.
About Havelock View’s location
When it comes to location, Havelock View is one of those rare projects where you look at the all-time high price and think, “That actually makes sense.” The development enjoys a very central position, with flats located within a 10-minute walk to both Tiong Bahru MRT on the East-West Line (EWL) and Havelock MRT on the Thomson-East Coast Line (TEL). From Tiong Bahru MRT, Outram Park and Tanjong Pagar are just one and two stops away respectively, giving residents quick access to the CBD. Meanwhile, Havelock MRT provides direct connections to Great World and its surrounding amenities. Having two MRT lines within easy reach adds to the overall convenience and accessibility.
Food options are plentiful in the area. Beo Crescent Market is just a 5-minute walk away, while Havelock Road Cooked Food Centre is about 6 minutes on foot. Zion Riverside Food Centre can be reached in roughly 10 minutes. If you prefer a café-hopping kind of weekend, you’ll also find plenty of artisan cafés and eateries within walking distance. Daily conveniences are close at hand too – there’s a 7-Eleven just a couple of minutes away and several clinics in the vicinity.
For shopping and entertainment, Valley Point Shopping Centre is about 8 minutes on foot, and Tiong Bahru Plaza is around 10 minutes away. A slightly longer walk of about 12 minutes takes you to Great World City.
For young families, the childcare and school options are decent as well. Within 500 metres, you’ll find:
- Brighton Montessori Centres Pte Ltd
- My World Preschool Ltd.
- PCF Sparkletots Preschool @ Kreta Ayer-Kim Seng Blk 79
The same PCF Sparkletots branch also serves as the only kindergarten within that radius.
As for primary schools, Alexandra Primary School, River Valley Primary School, and Zhangde Primary School are all within 1 km. Under the 1 to 2 km range, there are Cantonment Primary School, CHIJ (Kellock), Gan Eng Seng Primary School, and Radin Mas Primary School.
While the area is quite built-up, residents still have access to green spaces. The Alexandra Park Connector is about an 8-minute walk away, offering a pleasant outdoor escape from the urban surroundings.
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Havelock View’s prices are on the rise
Havelock View’s strong resale performance isn’t just a one-off. Including this latest record sale, there have already been seven other 3-room transactions in the project falling within the S$800K range, along with 18 others in the S$700K range.
Looking at the price trend over the past five years, the average psf growth has been relatively steady, with prices in 2025 averaging around S$1,069 psf. This is nearly 50% higher than the average psf for 3-room flats in Bukit Merah, which currently stands at S$717 psf. When compared to the broader District 3 average for 3-room flats, the gap narrows slightly but still remains significant at about 42%. Overall, the average price gap for 3-room units in Havelock View has grown by almost 32% over the past five years.
According to 99.co’s Researcher tool the average 3-room price in Havelock View as of 2025 is around S$794K, while the Bukit Merah average for the same flat type sits much lower at S$519K. At the time of writing, there’s currently one 3-room listing in Havelock View priced at S$728K. Beyond that, the next lowest asking price jumps to S$830K, with the highest reaching S$890K – suggesting it may not be long before another all-time high is set here. But if you’re looking at Bukit Merah as a whole, you can still find 3-room flats for as low as S$318K.
What’s driving these numbers?
High floors have always been a key factor behind record-breaking resale prices, and Havelock View delivers on that front. The recent S$860K sale sits on one of the project’s highest floors, but beyond this individual case, the development itself stands out as one of the tallest in the area. The generous spacing between blocks also provides residents with more privacy – another attractive point for buyers.
Age is another major driver. Many flats in the Tiong Bahru and Bukit Merah area are decades old, and lease decay tends to put off younger buyers. In contrast, Havelock View was completed in 2013, giving it the advantage of a newer lease while still being close to Tiong Bahru. That combination of central location and relative youth is clearly reflected in its pricing.
Havelock View also benefits from its proximity to Tiong Bahru. The area’s cluster of artisanal cafés, boutique retailers and homegrown fashion labels has helped transform it into a gentrified, stylish precinct popular with residents and foreign visitors alike.
On top of that, recent changes to the Build-To-Order (BTO) classification have shifted buyer dynamics. Singles are no longer restricted by location when applying for BTO flats, but they remain limited to 2-room units. Those who want a larger space, like a 3-room flat, have to turn to the resale market. For centrally located options like Havelock View, demand from singles seeking more space, alongside interest from other buyer groups, may have added to the competition and helped drive prices upward.
Interested in more All-Time High (ATH) covers? Head on over here!
About Sophiyanah David
Sophi, a seasoned copywriter specialising in Singaporean real estate and property, is one of the minds behind 99.co's informative articles. Like her colleagues at 99.co, Sophi is dedicated to keeping you informed about the ever-changing world of real estate so you can find your forever home. When off the clock, you can find her giggling and kicking her feet as she reads her romance novels, watching anime - if FMBA is not your fave, she might fight you (but you'll probably win) and looking up latest skincare trends.
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