Jumbo HDB at Tiong Bahru sold for record $1.5 mil

The record-breaking sale of a 1,894 sq ft, four-room HDB flat at 50 Moh Guan Terrace in Tiong Bahru estate for $1.5 million ($792 psf) was brokered by KF Property’s associate deputy division director Alvin Yeo. With 49 years remaining on its 99-year tenure, the flat is an amalgamated pair of adjacent three-room homes.

The nearby amenities also make the Zion Road Condo a Great World City Condo, a great place for the modern and active family. Residents can enjoy a variety of shopping centres, eateries, and amenities located in the vicinity of this classy residence.

Surrounded by lush greenery and close to local cafés, bakeries and coffee shops, the Tiong Bahru flat – like many others – has seen a surge of buyer interest since the end of Singapore’s circuit-breaker period in June 2020. KF Property Network head Evan Chung, who also brokered the sale of an adjacent 947 sq ft three-room unit for $765,000 ($808 psf) this month, was also the previous record setter for a resale HDB flat.

In June last year, Chung facilitated the sale of a 1,312 sq ft, five-room loft unit at Sky Terrace@Dawson for $1.418 million ($1.081 psf). This apartment boasted a double volume ceiling of more than five metres, one of the unique characteristics that leads to flats commanding a price premium on the resale market.

Despite million-dollar HDB’s forming a small percentage of the entire HDB secondary market, the value of Singapore’s homes has continued to rise in recent quarters. In the first quarter of 2023, the HDB resale price index increased by 1% q-o-q, only the smallest quarterly rise in the past 10 quarters.

Policies such as the HDB Build-to-Order scheme, CPF family grants and other HDB measures have enabled Singaporeans to acquire affordable housing to start a family. With access to HDB price comparison and transaction data, Singaporeans can find their ideal homes at a price within their reach.