Earlier this month, Bukit Merah saw a new national HDB resale record when a flat changed hands for S$1.728 million. Now, just a couple of weeks later, the mature estate is back in the spotlight once again. This time, however, the spotlight is on Singapore’s 4-room HDB segment.
A resale transaction at Block 50 Moh Guan Terrace has officially set a new national benchmark for 4-room flats, after the unit was sold for S$1.53 million in May 2026. While million-dollar HDB transactions are no longer rare in central locations, this latest sale still stands out for one major reason: the flat only has about 45 years remaining on its lease.
Even so, buyers continue to show strong interest in unique homes located in mature estates, especially those offering large floor plates, character, and city-fringe convenience. In many ways, this latest transaction also reflects how some buyers are increasingly prioritising space, heritage, and location over lease tenure alone.
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The S$1.53M flat at Moh Guan Terrace
The latest national record comes from a 4-room adjoined jumbo flat located at Block 50 Moh Guan Terrace in Tiong Bahru, Bukit Merah. The unit spans approximately 1,615 square feet, making it significantly larger than a typical 4-room HDB flat today.
The project itself is only about four storeys high, and the unit is located somewhere between the 1st and 3rd floors. At a transacted price of S$1.53 million, the deal works out to roughly S$947 psf. While that psf figure is not the highest seen among HDB flats, the overall quantum pushed the flat to a new national record for 4-room units in Singapore.
This is also not the first time Moh Guan Terrace has made headlines. Back in June 2023, another 4-room adjoined flat within the same project was sold for S$1.5 million. At that point in time, the transaction even became the most expensive HDB resale flat ever sold in Singapore.
Later, in December 2024, a 3-room unit in the same project also achieved a record when it was sold for S$750,000. Although both benchmarks were eventually surpassed by younger projects elsewhere, these transactions continued to highlight the project’s strong pricing power and buyer appeal.
From a lease perspective, the development is not especially young. Since the lease began in 1973, the flats currently have around 45 years and 9 months remaining. Still, for a centrally located and mature estate like Bukit Merah, transactions involving older flats at elevated prices have increasingly become part of the market narrative.
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Why 50 Moh Guan Terrace continues to attract buyers
One of the key reasons behind the project’s strong pricing lies in its rarity. Jumbo flats in central locations are extremely limited today, especially in heritage districts like Tiong Bahru.
Unlike newer HDB developments, many of these older homes were designed with noticeably larger layouts. As a result, buyers who prioritise interior space may see value in these homes despite the shorter remaining lease.
In addition, Moh Guan Terrace sits within one of Singapore’s most recognisable heritage neighbourhoods. Tiong Bahru has long been known for its pre-war architecture, independent cafes, local eateries, and strong community atmosphere. Consequently, the estate appeals not only to owner-occupiers, but also to affluent buyers who appreciate heritage charm and unique urban living.
At the same time, the surrounding area has continued to evolve. While the estate retains much of its old-world character, newer MRT lines, retail offerings, and lifestyle amenities have improved accessibility and convenience over the years.
50 Moh Guan Terrace’s location and nearby amenities
50 Moh Guan Terrace sits right in the heart of Tiong Bahru within Bukit Merah. Due to its central location, residents enjoy excellent connectivity to both the CBD and nearby city-fringe districts.
The development is around a 6-minute walk to Tiong Bahru MRT Station on the East-West Line. Meanwhile, Havelock MRT Station on the Thomson-East Coast Line is also within walking distance at roughly 10 minutes away.
For daily essentials, residents have easy access to supermarkets, wet markets, and hawker centres located nearby. Some of the closest food centres include:
- Tiong Bahru Market, approximately 172m away
- Havelock Road Cooked Food Centre, approximately 432m away
Families with young children may also find the area convenient due to the number of childcare centres nearby. Several preschools are located within 500m of the development, including:
- PCF Sparkletots Preschool @ Tanjong Pagar-Tiong Bahru Blk 130
- MY WORLD Preschool
- SUPER TALENT Childcare
- SUPERLAND Pre-School
- The Orange Academy
In terms of schools, the property falls within 1km of:
- Alexandra Primary School
- CHIJ (Kellock)
- Zhangde Primary School
Meanwhile, schools located within 1km to 2km include:
- Cantonment Primary School
- Gan Eng Seng Primary School
- Radin Mas Primary School
- River Valley Primary School
Beyond schools and daily necessities, the location also offers strong lifestyle appeal. Residents can reach Tiong Bahru Plaza, Great World, and VivoCity within a short drive or MRT ride. The area is also close to the well-known Yong Siak Street enclave, which is home to cafes and independent stores such as Plain Vanilla.
For residents who enjoy outdoor walks or exercise, Tiong Bahru Park is located about 11 minutes away on foot.
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The previous national record holder at Pinnacle @ Duxton
Before this latest transaction at Moh Guan Terrace, the national record for a 4-room HDB flat belonged to a Type S1 unit at Pinnacle@Duxton. That unit was sold in March 2025 for S$1.518 million, which already pushed expectations higher for centrally located HDB flats with unique attributes. Comparatively, the latest S$1.53 million deal at Moh Guan Terrace exceeded the previous benchmark by only around S$12,000.
However, the two homes differ greatly in terms of layout and lifestyle offering. The Pinnacle @ Duxton unit measured around 1,012 square feet. Based on its transaction price, the flat achieved an eye-watering S$1,500 psf, which still remains the highest psf ever recorded for a HDB flat in Singapore.
By comparison, the Moh Guan Terrace flat measures around 1.6 times larger at 1,615 square feet. This shifts the experience from a standard-sized apartment into something far more expansive and uncommon within the HDB market. That said, the Pinnacle unit compensated with height and views. The home was located somewhere above the 49th floor and offered panoramic views of Chinatown and the city skyline.
When Pinnacle @ Duxton was first launched, the project was designed to blur the line between public housing affordability and private condominium-style living. Unlike typical HDB projects, many units feature full-height glass windows and more design-focused interiors. As a result, these homes tend to attract a niche group of buyers who place strong value on architecture, views, and design quality.
The lease at Pinnacle @ Duxton started in 2011, leaving roughly 84 years remaining today, which is still considered relatively healthy by HDB standards.
Transactions at 50 Moh Guan Terrace remain relatively rare
Although transactions at Moh Guan Terrace often attract attention, sales activity within the project remains quite limited. In fact, there have only been five recorded transactions in recent years.
| Date | Floor | Size (sqft) | Price | Price (psf) | Type |
| 05/2026 | 1-3 | 1,615 | S$1.53M | S$947 | 4R (Adjoined) |
| 12/2024 | 1-3 | 947 | S$750,000 | S$791 | 3R (Standard) |
| 06/2023 | 4 | 1,894 | S$1.50M | S$791 | 4R (Adjoined) |
| 05/2023 | 1-3 | 947 | S$765,000 | S$807 | 3R (Standard) |
| 05/2022 | 4 | N/A | S$693,888 | N/A | 3-Room |
Looking at the data, the latest S$1.53 million transaction represents only a S$30,000 increase from the previous highest transaction in the project, when a unit was sold for S$1.5 million in 2023.
This suggests that buyers are still paying close attention to factors such as remaining lease and pricing sensitivity. At the same time, there also appears to be a segment of buyers whose purchasing decisions are less tied to lease decay concerns. Instead, demand here seems to be driven largely by the rarity of jumbo layouts in central Singapore, coupled with the estate’s architectural identity and heritage appeal. Consequently, these homes continue to attract a very niche but financially capable group of buyers who prioritise space and character over lease longevity.
Read more: A 39-year lease and still in demand – Why are these HDB flats still selling so well?
Based on current figures, average psf prices for 4-room flats at 50 Moh Guan Terrace in 2026 are around 7.76% higher than the average for 4-room units across Bukit Merah. More notably, they are approximately 42.42% higher than the national average psf for 4-room HDB flats across Singapore.
Even so, buyers looking for jumbo flats at lower entry prices can still find options elsewhere on the market. Some jumbo flats are currently listed from around S$740,000 on 99.co, while standard 4-room flats can still be found from S$398,000 onwards.
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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