Just earlier this week, we covered how one HDB project accounted for 90% of the million-dollar 4-room flat sales in Geylang.
Now, a recent transaction in Toa Payoh has shifted the focus to the 3-room resale market, with several units selling for nearly double the usual average.
Let’s dive into the article to find out which projects these are and what’s driving buyers to pay such high prices.
Table of contents
-
- The latest 3-room S$800k sale comes from Toa Payoh Crest
- And this isn’t even the most expensive 3-room flat in Singapore
- More than 50 3-room resales sold for S$800K or more
- Islandwide, average prices for 3-room resale flats stand around S$400k
- What do these high-priced 3-room resale flats have in common?
- Will 3-room resale prices continue rising beyond S$900K?
The latest 3-room S$800k sale comes from Toa Payoh Crest
Located at Block 131B, Lorong 1 Toa Payoh, this unit was situated between the 34th and 36th floors of a 40-storey block. At 732 sqft, it was sold for S$815,000, translating to S$1,113 per square foot (psf). Toa Payoh Crest met its Minimum Occupation Period (MOP) in 2022, leaving a healthy lease balance of 92 years and 9 months.
This isn’t the first time Toa Payoh Crest has made headlines for high resale prices, and it likely won’t be the last.
If any of these MOP-approaching homes belong to you and you’re unsure about your next property move, don’t hesitate to book a FREE consultation with our 99 advisors today!
2
2
2
2
2
2
2
2
3
2
3
2
3
2
Where is the most expensive 3-room HDB flat located?
Islandwide, the most expensive 3-room resale flat has not only surpassed S$800K but has reached S$900,000.
This unit is in Alkaff Lakeview, a highly sought-after project in Bidadari. Given that Bidadari falls within Toa Payoh’s planning area, the S$815K sale at Toa Payoh Crest isn’t even the highest in the estate.
Located at Block 115C, Alkaff Crescent Road, this unit sat between the 13th and 15th floors of a 17-storey block. With a size of 721 sqft, its psf came up to S$1,262. Alkaff Lakeview only reached MOP in 2024, leaving a significant lease balance of 95 years and 1 month.
Did you know that Punggol has the most MOP-ing flats in 2025? So, is it the right time to buy? Read more here: Punggol has the most number of MOP flats in 2025 – should you buy?
Besides its long lease, its prime location is a major selling point. It is within a 4-minute walk to Woodleigh MRT and an 8-minute walk to Potong Pasir MRT. The unit is also a 5-minute walk from Woodleigh Village Hawker Centre and a 3-minute walk from Woodleigh Mall for retail and dining options.
While no kindergartens are within 500m, several primary schools are nearby. Within 1km, there are Cedar Primary School, Maris Stella High School, and St. Andrew’s Junior School. Within 1 to 2km, other options include Bendemeer Primary School, Canossa Catholic Primary School, First Toa Payoh Primary School, Paya Lebar Methodist Girls’ School (Primary), Pei Chun Public School, St. Gabriel’s Primary School, and Yangzheng Primary School.
The project is also close to Bidadari Park, featuring a 700-meter Heritage Walk and the scenic Alkaff Lake. If outdoor activities are your thing, Bidadari Park connects to the 5 Nature Ways!
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
More than 50 3-room resales sold for S$800K or more
Project Street Block Floor Area (sqm) Lease Commence Price
Tiong Bahru View Boon Tiong Rd 10A 19 - 21 62 2016 S$800,000
Kallang Trivista Upp Boon Keng Rd 8B 28 - 30 70 2017 S$833,000
McNair Towers Mcnair Rd 113B 34 - 36 68 2017 S$800,008
Kim Pong View Kim Pong Rd 38 1 - 3 75 1974 S$800,888
Kallang Trivista Upp Boon Keng Rd 8B 28 - 30 70 2017 S$828,000
Clementi Cascadia Clementi Ave 3 440A 28 - 30 69 2018 S$820,000
St. George's Towers St. George's Lane 26A 19 - 21 68 2020 S$800,000
St. George's Towers St. George's Lane 25A 13 - 15 68 2020 S$800,000
N/A Kim Cheng St 45 4 - 6 88 1973 S$800,000
St. George's Towers St. George's Lane 26A 28 - 30 68 2020 S$815,000
Bendemeer Light Bendemeer Rd 10B 31 - 33 68 2017 S$800,000
Havelock View Havelock Rd 58 34 - 36 69 2013 S$818,000
St. George's Towers St. George's Lane 26A 19 - 21 68 2020 S$810,000
Toa Payoh Crest Lor 1 Toa Payoh 131B 37 - 39 68 2018 S$800,000
Kallang Trivista Upp Boon Keng Rd 8A 25 - 27 70 2017 S$820,000
St. George's Towers St. George's Lane 26A 22 - 24 68 2020 S$812,000
St. George's Towers St. George's Lane 25A 25 - 27 68 2020 S$800,000
N/A Tiong Bahru Rd 20 4 - 6 88 1973 S$800,000
City Vue @ Henderson Henderson Rd 95A 31 - 33 68 2019 S$800,000
Toa Payoh Crest Lor 1 Toa Payoh 130B 34 - 36 68 2018 S$808,000
Toa Payoh Apex Toa Payoh East 263 25 - 27 68 2019 S$800,000
St. George's Towers St. George's Lane 26A 19 - 21 68 2020 S$826,888
St. George's Towers St. George's Lane 26A 25 - 27 68 2020 S$814,000
St. George's Towers St. George's Lane 25A 31 - 33 68 2020 S$825,000
Havelock View Havelock Rd 57 19 - 21 69 2013 S$800,000
Tiong Bahru View Boon Tiong Rd 10A 34 - 36 62 2016 S$860,000
McNair Towers Mcnair Rd 113C 13 - 15 68 2017 S$800,000
St. George's Towers St. George's Lane 26A 22 - 24 68 2020 S$813,000
St. George's Towers St. George's Lane 25A 25 - 27 68 2020 S$819,000
Toa Payoh Crest Lor 1 Toa Payoh 131A 37 - 39 68 2018 S$810,000
Bendemeer Light Bendemeer Rd 10A 37 - 39 68 2017 S$820,000
St. George's Towers St. George's Lane 25A 28 - 30 68 2020 S$815,000
Buona Vista Court Holland Dr 18A 31 - 33 67 2012 S$802,000
Buona Vista Court Holland Dr 18B 31 - 33 67 2012 S$838,000
Kallang Trivista Upp Boon Keng Rd 8B 22 - 24 70 2017 S$838,000
St. George's Towers St. George's Lane 25A 28 - 30 68 2020 S$815,000
Bendemeer Light Bendemeer Rd 10A 34 - 36 68 2017 S$838,000
Clementi Cascadia Clementi Ave 3 440A 22 - 24 69 2018 S$840,000
Skyville @ Dawson Dawson Rd 87 31 - 33 65 2016 S$800,000
Forfar Heights Strathmore Ave 53 25 - 27 62 2020 S$800,000
N/A Lim Liak St 35 1 - 3 88 1973 S$850,000
St. George's Towers St. George's Lane 26A 31 - 33 68 2020 S$830,000
St. George's Towers St. George's Lane 26A 22 - 24 68 2020 S$850,000
Havelock View Havelock Rd 54 34 - 36 69 2013 S$850,000
St. George's Towers St. George's Lane 26A 25 - 27 68 2020 S$838,000
Alkaff Lakeview Alkaff Cres 115C 13 - 15 71 2020 S$900,000
Toa Payoh Crest Lor 1 Toa Payoh 131B 34 - 36 68 2018 S$815,000
Toa Payoh Crest Lor 1A Toa Payoh 138A 7 - 9 70 2012 S$805,888
Alkaff Lakeview Alkaff Cres 115C 7 - 9 71 2020 S$820,000
Skyville @ Dawson Dawson Rd 87 40 - 42 65 2016 S$800,000
City Vue @ Henderson Henderson Rd 95C 22 - 24 68 2019 S$800,000
Ghim Moh Edge Ghim Moh Link 32 19 - 21 68 2018 S$808,000
Islandwide, average prices for 3-room resale flats stand around S$400k
The reason these sales are considered almost double the national average is because, in 2024*, the average resale price for a 3-room HDB flat stood at S$439,312. However, the trend over the past three years has shown steady price increases.
From 2021 to 2022, there was a 9.58% increase, followed by a 5.41% increase from 2022 to 2023, and a further 6.73% increase from 2023 to 2024. Overall, 3-room resale prices have surged by 23.28% over the past three years.
Given this, it’s unlikely that prices will decline in 2025 – especially in areas like Toa Payoh and Bidadari.
*Note that since we’re still early in the year, there isn’t enough data to determine 2025’s price trends yet.
What do these high-priced 3-room resale flats have in common?
If you’ve been following all-time high (ATH) HDB resale transactions, some of these projects might look familiar. Some even have million-dollar 4-room sales, so it’s not surprising that their 3-room units command equally competitive prices.
A key reason behind their high valuation is their prime location. Many of these flats are within walking distance of MRT stations, hawker centres, and shopping malls – factors that significantly drive up demand. Convenience plays a major role in homebuyers’ decisions, and it’s clear that buyers are willing to pay a premium for it.
Beyond location, these units tend to be on higher floors, which generally fetch a higher price. While there are some exceptions, the majority of these 3-room resales are on higher floors. They also have a substantial lease balance remaining, making them more attractive to buyers looking for long-term value. Some of these projects, such as Alkaff Lakeview, Toa Payoh Crest, Toa Payoh Apex, and St. George’s Towers, are also recently MOP-ed, which tends to draw strong demand.
Looking for more HDB flats that MOP-ed recently besides Toa Payoh Crest and Alkaff Lakeview? Check out our article here: Full list of BTO projects hitting MOP in 2024/2025 & Our top picks near the MRT
Another factor driving prices could be right-sizing buyers. Under the October 2022 cooling measures, seniors above 55 moving from private property to a 4-room or smaller resale flat are exempted from the 15-month wait-out period.
This means some of these buyers, with substantial funds at their disposal, may have turned to 3-room resale flats, driving up transaction values.
Will 3-room resale prices continue rising beyond S$900K?
With 3-room resale flats already selling for nearly double the average price, and a record-breaking unit hitting S$900K, the big question is – should you expect more sales at this price point?
Looking at recent data, the second-highest 3-room resale came in at S$860K, making the leap to S$900K a little abrupt. However, while steep jumps like this have happened in the past, it doesn’t necessarily mean prices will keep climbing at the same pace.
It’s also worth noting that buyers paying close to S$900K for a 3-room flat could have opted for a larger 4-room or even a 5-room unit at similar price points. That’s why this sale stands out – it’s not common to see buyers willing to pay such a high price for a smaller unit. For those in the resale market, the hope is that this was an exception rather than a sign of a continuing trend.
Would you pay S$800K for a 3-room flat? Let us know in the comments section below.
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.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
Join our social media communities!
Facebook | Instagram | TikTok | Telegram | YouTube | Twitter
Leave a comment