A three-room HDB flat at 246 Tampines Street 21 in District 18 was recently sold for $450,000 ($624 psf). The 721-sq ft flat is located on the 10th to 12th storeys and has a remaining lease of approximately 57 years.

We used our analytics tool, Is it a Good Deal?, to assess the transaction and determine whether the buyer of this flat secured a bargain.

Walking distance to an MRT station and four malls

The subject flat is conveniently located a stone’s throw away from Tampines MRT Station, Tampines Bus Interchange, Tampines Mall, Century Square, Eastlink Mall and Tampines 1 (see Map 1). Residents enjoy easy access to the East-West and Downtown lines because Tampines MRT Station serves as an interchange for both lines. Additionally, the Pan Island Expressway and Tampines Expressway are a short drive away.

Read also: Is it a Good Deal?: A four-room flat along Redhill Close was just sold for $962,000

There are also a number of schools within a 1km radius of the subject flat, including Chongzheng Primary School, Gongshang Primary School, Tampines North Primary School, Tampines Primary School, Yumin Primary School, Pasir Ris Secondary School and Tampines Secondary School (see Screenshot 1).

The main drawback of the subject flat is its short remaining lease of around 57 years, as its lease commenced in 1984. The short remaining lease could explain why our tool indicates that the transacted price for the subject flat is not only lower than the district’s average, but also on the lower end of the price spectrum compared to similar nearby flats (see Screenshot 2).

Source: EdgeProp Is it a Good Deal (as at 28 January 2026)

On the lower end of the price spectrum

Data from HDB indicates that 31 three-room flats in Tampines HDB town have been sold so far this year. Prices range from $425,000 to $640,000, indicating that the transacted price of $450,000 for the subject flat is on the lower end of the price spectrum.

If only three-room flats along Tampines Street 21 are included in our analysis, just five such flats have been sold thus far this year at prices ranging from $450,000 to $532,888 (see Table 1). Notably, the transacted price for the subject flat is this year’s record low at the time of writing.

Last year, 352 three-room flats in Tampines were sold at prices ranging from $360,000 to $698,000. Notably, the flats involved in last year’s record high and record low were located within a 1km radius of the subject flat.

Last year’s record low of $360,000 ($429 psf) involved an 840-sq ft flat at 144 Tampines Street 12. As the lease of the flat started in 1985, it has a remaining lease of 58 years; one year longer than that of the subject flat. Its lower price compared to the subject flat could be because it is further from Tampines MRT Station.

Read also: Is it a Good Deal?: A freehold condo along Bukit Timah Road fetched a profit of $3.52 million

In contrast, last year’s record high of $698,000 ($1,046 psf) involved a flat with a significantly longer remaining lease of approximately 87 years. The 667-sq ft flat is located at 519C Tampines Central 8. In addition to its longer lease, the higher price paid for the flat along Tampines Central 8 could be attributed to its closer proximity to Tampines MRT Station, Tampines Concourse Bus Interchange, Century Square, Tampines Mall and Tampines 1 (see Map 2).

Average price for three-room flats in Tampines above the East Region and islandwide

Among the different flat types in Tampines, three-room flats ($670 psf) command a higher average resale price compared to four-room ($659 psf) and five-room ($624 psf) flats (see Chart 1). However, four-room flats (54%) recorded the highest price growth since 2020, followed by three-room (49.2%) and five-room (45.5%) flats.

Source: EdgeProp Market Trends (as at 29 January 2026)

The lease of the subject flat started in 1984, making it 42 years old. Three-room flats in Tampines ($620 psf) aged 41 to 50 years command a higher average resale price compared to their peers in the East Region ($594 psf) and islandwide ($583 psf) (see Chart 2). Notably, the transacted price of $624 psf for the subject flat is marginally higher than the average for Tampines ($620 psf).

However, average resale prices across all three areas have grown at a similar pace since 2020. The East Region (51.9%) led the pack, followed by Tampines (49.7%) and islandwide (48%).

No condos within walking distance

There are no condos or executive condos (ECs) within a 500m radius of the subject flat. However, an EC — Citylife@Tampines — and a 99-year leasehold condo — Treasure at Tampines — fall within the radius if the distance is expanded to 1km.

Citylife@Tampines is located along Tampines Central 7 and near Tampines MRT Station. Located along Tampines Lane, Treasure at Tampines is closer to Simei MRT Station (see Map 3). Both developments, as well as the subject flat, are in District 18.

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Unlike the subject flat, both developments are relatively new. Citylife@Tampines obtained its temporary occupation permit (TOP) in 2016, while Treasure at Tampines received its TOP in 2023.

Notably, Treasure at Tampines features 2,203 units, making it the largest condo in Singapore. The 514-unit Citylife@Tampines is significantly smaller.

During its launch weekend in March 2019, Treasure at Tampines drew a 7,000-strong crowd. Of the 490 units released for sale, 272 were sold at an average price of $1,280 psf. By 2022, all units in the mega condo had been sold.

Last year’s average resale price for Citylife@Tampines ($1,514 psf) was higher than that for ECs in District 18 ($1,343 psf) and islandwide ($1,390 psf) (see Chart 3). At the time of writing, no resale transactions have been recorded for Citylife@Tampines this year. In contrast, average resale prices for ECs in District 18 and islandwide have increased to $1,523 psf and $1,496 psf, respectively.

Likewise, last year’s average resale price for Treasure at Tampines ($1,768 psf) was higher than that for 99-year leasehold condos in District 18 ($1,465 psf) and islandwide ($1,707 psf) (see Chart 4). At the time of writing, no resale transactions have been recorded for Treasure at Tampines this year. In comparison, average resale prices for 99-year leasehold condos in District 18 and islandwide have increased to $1,518 psf and $1,767 psf, respectively.

Conclusion

The $450,000 paid for the subject flat at 246 Tampines Street 21 is on the lower end of the price spectrum for three-room flats in Tampines sold this year. This is despite the flat’s close proximity the dual-line Tampines MRT Station and several malls. The relatively low price is likely due to the flat’s age and short remaining lease.

To learn more about this transaction, and whether it is a good deal, click here.

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