Making history? Singapore jumbo BTO flat with 91 years left on lease listed at S$2.1 million

SINGAPORE: A jumbo flat at Tel Blangah has been listed for resale for over S$2 million, which would make it the costliest HDB flat in Singapore’s history when it changes hands.

In the space-scarce city-state, size is king, and this particular five-room flat is said to span 1,465 square feet (136 square metres). According to Property Guru, where the flat was listed last Monday (Sep 21), its asking price is S$2.18 million, and it has 91 years left on its lease, which is likely a key reason for its high price.

It has five bedrooms, four bathrooms, and is located at Telok Blangah Parcview at 93B Telok Blangah Street 31.

The jumbo flat is actually two three-room flats that have legally been combined into one unit under one title, said Thomas Tong, an Associate Director and Senior Associate Marketing Director at PropNex Realty, in a social media video featuring the flat.

This explains why the unit has two kitchens and two bomb shelters, which are being used for storage. Additionally, it has a nice view where one can see the sea from the living room, and from the master bedroom, Sentosa and the cable cars.

He added that when the owner of one of the units had bought their neighbour’s unit, one of the flats had a higher floor than the other. The new owner has since shaved and retiled the unit for a seamless finish.

In fact, the flat has been fully renovated, which means its new owner can simply move in.

Realistic or not?

It seems that just a few short years ago, discussions revolved around whether HDB resale flats priced at S$1 million were affordable, although this has become more and more normal, with estates joining the million-dollar club.

Prices have yet to breach S$2 million, and the most expensive HDB resale flats have been around S$1.7 million, with a five-room Bukit Merah flat selling for S$1.728 million, and a 5-room loft at SkyTerrace @ Dawson selling for S$1.7 million early this year.

In May 2024, the Ministry of National Development, the Housing Board and the Council for Estate Agencies (CEA) investigated the listings of two HDB flats reportedly priced at S$2 million.  At the time, property agents considered the price to be “unrealistic,” according to a Straits Times report. /TISG

Read also: Million dollar HDB resales could increase with private homeowners no longer subject to 15-month waiting period