Newly MOP-ed 3-room HDB flat in Bedok sold for record $730k, Money News
A 3-room flat in Bedok has just changed hands for $730,000, breaking the previous town record by a considerable margin. The earlier high — $689,000 — was achieved only a month prior, also within the same block but on a lower floor.
This recent transaction represents a jump of $41,000 and marks the first time a 3-room HDB in Bedok has crossed the $700,000 mark.
The unit is located in Block 429B Bedok North Road, on a higher floor of the 17-storey building. At 743 sq ft, it translates to approximately $982 psf.
Yes, it is creeping toward the four-digit psf club, which is rare for a flat of this size and configuration. However, the buyer walks away with a "fresh" unit that has a remaining lease of 95 years and one month, essentially as good as new. Newly MOP-ed Bedok North Woods HDB
The sale took place within Bedok North Woods HDB, one of the projects launched during the May 2016 Build-To-Order (BTO) exercise. Completed in 2020/2021, the Minimum Occupation Period (MOP) was just recently fulfilled, making the $730,000 unit among the first ones to enter the resale market.
To date, there have been seven resale transactions in Bedok North Woods, three of which involve 3-room flats. These 3-room flats have transacted at an average price of $699,000. In terms of psf, they command a price point of $940.
That's a steep premium when compared to Bedok's average 3-room HDB psf of around $615. In fact, it's also well above the national average, more than 30 per cent higher than the $640 psf recorded.
From a cost-to-value standpoint, the original BTO prices for these 3-room flats in Bedok North Woods started from just $272,000 (excluding grants). That puts the $730,000 sale at nearly triple the original price, all within just five years. It's one of the "successful" stories of selling right after the MOP.
Of course, not all of that gain is net profit. The actual return would depend on the initial purchase price, eligibility for HDB grants, and other resale-related expenses. Still, it's a strong example of how more Singaporeans are now seeing BTO as a stepping stone instead of a home.
We've seen this pattern before: the recent Queenstown ATH of $935,000 also came from a newly MOP-ed unit at SkyParc @ Dawson, which carried a similarly fresh 95-year lease. Location overview
While a fresh 99-year lease plays a big role in this record-setting sale, location clearly matters too. Fengshan Primary School is right at your doorstep, and within minutes, you can walk to Heartbeat @ Bedok and Bedok Central.
The HDB project is situated within the town centre area, placing residents just a short walk away from virtually all essential amenities — Bedok Reservoir MRT Station, Bedok MRT Station, Bedok Mall, Bedok Reservoir Park — you name it.
For families with school-going children, the area offers several reputable schools as well. According to OneMap, Bedok North Woods HDB is located within 1km of: Fengshan Primary School
Red Swastika School
Yu Neng Primary School
More schools can be found within a 1-2 km radius, including: Bedok Green Primary
St Anthony's Canossian Primary School
Juyuan Primary School
Opera Estate Primary
This mix of convenience, lifestyle offerings, and educational access has long made this part of Bedok a favourite among homebuyers. With the town undergoing gradual revitalisation, newer projects like Bedok North Woods are perfectly positioned to attract young families, first-time buyers, and, apparently, investors. Comparative analysis: 3-room vs. bigger flats in Bedok
Now here's where it gets interesting. Buyers shelling out over $700,000 for a 3-room flat in Bedok could, on paper, opt for bigger flats at similar prices. Case in point: a 4-room unit at 807C Chai Chee Road with over 90 years of lease remaining recently transacted for $740,000, or around $739 psf. So why pay more for less space?
The answer may lie in buyer psychology and market shifts. Smaller units, especially those with new leases, appear to be outperforming larger, older flats in terms of both price growth and price resilience.
Over the past five years, the psf prices of 3-room flats in Bedok have climbed by 53.52 per cent. In contrast, 4-room and 5-room flats saw slower growth at 41.50 per cent and 31.27 per cent, respectively.
This year, 3-room HDB flats in Bedok average $615 psf — only slightly lower than the 4-room average of $642 psf. Meanwhile, 5-room flats actually average the lowest at around $600 psf. What's driving the 3-room price growth in Bedok?
This narrowing gap between 3-room and 4-room pricing suggests that some buyers are willing to sacrifice space for tenure, convenience, or resale value.
In an era where space efficiency and location matter more than ever, newer 3-room flats are becoming increasingly desirable.
Some 5-room flats in Bedok have crossed the million-dollar mark, such as the relatively new unit at Block 747A Bedok Reservoir Crescent that fetched $1.18 million ($1,044 psf) in November 2024. But these are outliers found within rare, newer developments like Belvia HDB, which still enjoy long remaining leases.
In contrast, the majority of 5-room flats in Bedok belong to older projects with fewer years left on the lease, making them less attractive to younger buyers or those concerned about long-term asset value.
And with fresh, spacious flats now commanding premium prices, many buyers may find themselves leaning toward smaller, newer units that are priced more competitively by comparison.
To add more perspective, a 4-room flat within the Bedok North Woods HDB estate has also recently sold for a record high at $960,000, getting closer and closer to the million-dollar threshold.
The shift from viewing BTO flats as forever homes to appreciating them as stepping stones for future resale potential is more evident than ever.
As younger buyers and savvy investors continue to chase value, the combination of fresh leases, mature estates, and accessible locations like the Bedok town centre area could continue to draw growing interest.
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This article was first published in 99.co.
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