Sellers' windfall? 3-room Bidadari HDB flat transacts for nearly $1 million

A 3-room HDB flat in Bidadari has just been sold for a record price of $930,000.

According to property news portal EdgeProp, the transacted price in October is the highest for three-room flats in Toa Payoh, which the Bidadari estate is part of.

The 764 sq ft unit at Block 115C Alkaff Crescent began its lease in 2020 and has since fulfilled its five-year minimum occupation period (MOP), with approximately 94 years left on its lease to date.

The selling price for the unit, located around the 16th to 18th floor, surpassed the $920,000 fetched by a unit on a lower floor in July this year.

According to HDB data, another unit within the same block and located around the 13th to 15th floors changed hands for $900,000 in December last year.

Potential windfall

When it was first launched in the November 2015 Build-To-Order exercise, the indicative starting price for a 3-room HDB flat in the Bidadari estate was from $297,000, excluding grants.

This means the sale could translate to a potential windfall for sellers of the record-breaking unit. Assuming the seller bought the unit at around $350,000 — their gross profit would be in excess of $550,000.

According to Google Maps, the block is within walking distance of about 10 minutes to amenities such as Woodleigh MRT station, Woodleigh Mall, Woodleigh Village Hawker Centre as well as the Bidadari Park and Alkaff Lake.

It is also near schools such as Cedar Primary School, Maris Stella High School (Primary and Secondary) and Cedar Girls' Secondary School. 

Based on HDB data, it appears that a total of 24 3-room flats along Alkaff Crescent have changed hands since reaching MOP.

A search on the HDB site also showed that the highest price fetched by a 4-room flat in the estate was $1,258,888, transacted in February this year for a unit located at Block 118A.

Slowing resale price growth

According to the resale price index of HDB flats, prices rose at a slower pace of 0.4 per cent in the third quarter of 2025.

HDB had said on Oct 1 that this marked the "fourth consecutive quarter of slowing resale price growth and the lowest quarter-on-quarter increase since Q2 2020".

Minister for National Development Chee Hong Tat had also posted these figures on Facebook earlier this month, noting that both the MND and HDB will continue to ensure that public housing "remains affordable and accessible to Singaporeans".

The number of million-dollar flats from January to September was at 1,243, which surpassed the record 1,035 transactions for the whole of 2024, reported The Straits Times (ST) on Oct 1.

An expert interviewed by ST stated that while prices are expected to moderate in the last quarter of 2025, prices of well-located flats with sought-after attributes will continue to be elevated due to the demand for such flats.

candicecai@asiaone.com