S1E74: Why are buyers willing to pay $900,000 for 3-room resale HDB flats?

At least four three-room resale Housing Board flats were sold for between $900,000 and $935,000 in the first 11 months of 2025. What’s driving these eye-watering prices for smaller units, and how does this affect buyers who see three-room units as an accessible way to own a first home? 

Synopsis: Join Natasha Ann Zachariah at The Usual Place every Thursday as she unpacks the latest current affairs with guests.

In this episode of The Usual Place, host Natasha Ann Zachariah speaks with Mr Nicholas Mak, chief research officer at property portal Mogul.sg, and Mr Patrick Chee, property agent and founder of real estate portal Homeseller SG.

Highlights (click/tap above):

1:49 Million-dollar 3-room HDB flat to happen “in the next ‘bull run”: Patrick Chee

6:13 Who buys pricey 3-room HDB flats? 

8:34 Majority of 3-room HDB flat are still transacted in the range of $500,000

15:14 Property prices outlook

21:36 Previous property bubbles 

30:32 Does sentiment play a role in flat prices

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Filmed by: Studio+65

Edited by: Teo Tong Kai, Eden Soh and Chen Junyi

Executive producers: Danson Cheong, Elizabeth Khor & Ernest Luis

Editorial producer: Lynda Hong

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