Earlier this month, a four-room HDB flat at 70 Redhill Close in Bukit Merah was sold for $962,000 ($894 psf). Located on the 19th to 21st storeys, the 1,076-sq ft flat has a remaining lease of approximately 74 years.

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

Short walk to amenities

The subject flat is a short walk to a variety of amenities, including Redhill MRT Station, Redhill Market and Food Centre, Sprout Hub, Gateway Theatre, Bukit Merah Bus Interchange, as well as Delta Swimming Complex and Sports Hall (see Map 1). The subject flat is also a short drive to the Ayer Rajah Expressway and the Central Expressway.

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Schools within a 1km radius include Alexandra Primary School, Gan Eng Seng Primary School, Zhangde Primary School, Bukit Merah Secondary School, Crescent Girls’ School, Gan Eng Seng School (secondary), and Queenstown Secondary School (see Screenshot 1).

Twelve million-dollar transactions this year

Although 39 four-room flats in Bukit Merah have been sold so far this year, the subject flat represents this year’s first transaction for a four-room flat along Redhill Close. Four-room flats in Bukit Merah were sold for prices ranging from $485,000 to $1.36 million this year. Hence, the $962,000 paid for the subject flat is significantly below the million-dollar price tags of similar flats in the same HDB town (see Screenshot 2).

According to data from HDB, 12 four-room flats in Bukit Merah have been sold for at least $1 million so far this year. Prices for these 12 million-dollar flats range from $1.001 million to $1.36 million (see Table 1).

This year’s highest price of $1.36 million ($1,373 psf) came from the sale of a flat at 9B Boon Tiong Road last month. The price tag for the 990-sq ft flat surpassed last year’s record high of $1.338 million ($1,351 psf) for four-room flats in Bukit Merah. Interestingly, last year’s record high was also set by a flat at nearby 9A Boon Tiong Road.

The high prices paid for these flats along Boon Tiong Road could be due to their close proximity to Tiong Bahru MRT Station, Tiong Bahru Plaza, Havelock Road Cooked Food Centre as well as Tiong Bahru Market and Food Centre (see Map 2). Additionally, the leases of the flats along Boon Tiong Road commenced in 2016, leaving them with a long remaining lease of around 89 years.

This year’s average resale price for four-room flats in Bukit Merah dipped below Central Region

This year, the average resale price for four-room flats in Bukit Merah ($872 psf) is marginally lower than that for the Central Region ($888 psf). This is in contrast to last year, when the average resale price for Bukit Merah ($894 psf) was higher than that for the Central Region ($865 psf) (see Chart 1). This could be due to a 2.5% y-o-y price decline for flats in Bukit Merah this year. In contrast, the average resale price for flats in the Central Region rose by 2.7% y-o-y.

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Notably, this average resale price of $872 psf for four-room flats in Bukit Merah is lower than the $894 psf paid for the subject flat.

Despite the recent dip in prices, the long-term trend indicates that the average resale price for four-room flats in Bukit Merah is on the rise, increasing by 31.7% since 2020. However, similar flats in the Central Region reported a stronger price growth of 44.9%.

Meanwhile, this year’s average resale price for four-room flats islandwide stood at $660 psf, an increase of 49% since 2020.

Five condos within walking distance

There are five condos within a 500m radius of the subject flat, namely Alex Residences, Artra, Ascentia Sky, Echelon and The Metropolitan Condominium. All five are 99-year leasehold developments and offer a combined total of approximately 2,000 units. Among the five, Echelon is the largest, with 508 units, while Ascentia Sky is the smallest, with 373 units.

Notably, all five condos are located in District 3 and the Bukit Merah Planning Area. They are also clustered together along Alexandra View, a short walk from the subject flat (see Map 3).

Among the five condos, The Metropolitan Condominium is the oldest, having obtained its temporary occupation permit (TOP) in 2009, while Artra is the newest, having obtained its TOP in 2020 (see Table 2). Interestingly, these two condos are also the only ones among the five neighbouring condos that have not recorded any resale transactions so far this year.

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Based on last year’s transactions, Artra commanded the highest average resale price of $2,395 psf, which is unsurprising given that it is the newest among the five condos. Meanwhile, the oldest condo — The Metropolitan Condominium — had the lowest average resale price of $1,912 psf last year.

Last year’s average resale price of The Metropolitan Condominium ($1,912 psf) is also lower than that of 99-year leasehold condos of a similar age in District 3 ($2,156 psf) and the Central Region ($2,031 psf) (see Chart 2). However, The Metropolitan Condominium (31.2%) chalked up the strongest price growth from 2020 to 2025, compared to similar condos in District 3 (20.6%) and the Central Region (8.3%).

Conclusion

The recent sale of the four-room flat at 70 Redhill Close for $962,000 indicates that it is still possible to purchase a four-room flat in popular Bukit Merah for less than $1 million. In addition to being near several amenities, the subject flat also has a relatively long remaining lease of around 74 years.

So far this year, 39 four-room flats in Bukit Merah have been sold, with 12 of them fetching at least $1 million. The highest price of $1.36 million ($1,373 psf) was paid for a flat at 9B Boon Tiong Road, followed by $1.24 million ($1,252 psf) for a flat at nearby 10A Boon Tiong Road. The close proximity of these two flats to Tiong Bahru MRT Station and Tiong Bahru Plaza, as well as their long remaining leases of around 89 years, probably contributed to their high transacted prices.

To learn more about the transaction for the subject flat, and whether it is a good deal, click here.

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