Is it a Good Deal?: $415,000 for a 3-room flat near Tiong Bahru MRT Station
So far this year, only two three-room flats along Jalan Klinik have been sold for more than $400,000. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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Earlier this month, a three-room HDB flat at 28 Jalan Klinik was sold for $415,000 ($665 psf). The 624-sq ft flat is located in the HDB town of Bukit Merah and in District 3.
We used our analytics tool, Is it a Good Deal?, to assess the transaction and determine whether the buyer of this flat, located on the 10th to 12th storeys, secured a bargain.
Surrounded by amenities
The three-room flat at 28 Jalan Klinik is a short walk from Tiong Bahru Plaza, Havelock Road Cooked Food Centre, Tiong Bahru Market and Food Centre, Beo Crescent Market, and Tiong Bahru Park. Tiong Bahru and Havelock MRT Stations are within walking distance (see Map 1), giving residents easy access to the East–West and Thomson–East Coast Lines. The flat is also a short drive from Great World City, Orchard Road, and the CBD.
Source: EdgeProp LandLens (as at 21 August 2025)
Additionally, parents will be pleased to know that there are three primary schools within a 1km radius, namely Alexandra Primary School, Zhangde Primary School and River Valley Primary School. If the radius is expanded to 2km, there are five more primary schools.
The main drawback of the flat is its short remaining lease of 43 years, as its lease commenced in 1969 (see Screenshot 1).
Source: EdgeProp Is it a Good Deal (as at 21 August 2025)
Our tool noted that the transacted price of $415,000 for the subject flat is at the high end of the price spectrum for similar flats in the vicinity. However, it is still below the average price for the district (see Screenshot 2).
Source: EdgeProp Is it a Good Deal (as at 21 August 2025)
Lower end of price spectrum for Bukit Merah
So far this year, 250 three-room flats in Bukit Merah have been sold at prices ranging from $302,000 to $860,000. Hence, the transacted price of $415,000 for the subject flat is at the lower end of the price spectrum, likely due to its short remaining lease of 43 years.
In contrast, two three-room flats in Bukit Merah have fetched at least $850,000 this year (see Table 1). This could because both have significantly longer remaining leases than the subject flat. The flats at 58 Havelock Road and 10A Boon Tiong Road have remaining leases of approximately 87 and 90 years, respectively.
Source: EdgeProp Buddy (as at 21 August 2025)
Both flats are also a short walk from the subject flat (see Map 2). 10A Boon Tiong Road is located across the road from the subject flat and nearer to Tiong Bahru MRT Station. 58 Havelock Road is further from the subject flat and Tiong Bahru MRT Station, but it is nearer to Great World City and Zion Riverside Food Centre.
Source: EdgeProp LandLens (as at 21 August 2025)
But higher end of price spectrum for Jalan Klinik
At the time of writing, six three-room flats along Jalan Klinik have been sold this year at prices ranging from $350,000 to $420,000 (see Table 2). While the subject flat’s transacted price of $415,000 is at the lower end of the price spectrum for three-room flats in Bukit Merah, it is at the higher end for such flats along Jalan Klinik.
Source: EdgeProp Buddy (as at 21 August 2025)
Of the six flats, only one fetched a higher price than the subject flat. The flat at 20 Jalan Klinik was sold in March for $420,000 ($661 psf). The 635-sq ft unit is located on the seventh to ninth storeys and has a remaining lease of 45 years; slightly longer than the subject flat’s 43 years. The longer lease could have accounted for its marginally higher price compared to the subject flat.
20 Jalan Klinik is adjacent to Havelock Road Cooked Food Centre (see Map 3) and a short walk from the subject flat. It is also further from Tiong Bahru MRT Station and Tiong Bahru Plaza but nearer to Havelock MRT Station and Havelock Road Cooked Food Centre.
Source: EdgeProp LandLens (as at 21 August 2025)
Price for subject flat is lower than average resale price for Bukit Merah
The average resale price for three-room HDB flats in Bukit Merah currently stands at $726 psf, higher than the transacted price of $665 psf for the subject flat (see Chart 1). The average resale price of three-room flats in Bukit Merah has also consistently trended below that of their four-room ($899 psf) and five-room ($846 psf) counterparts.
Source: EdgeProp Market Trends (as at 21 August 2025)
This could be due to the slower pace of price growth since 2015 for three-room flats in Bukit Merah (32.2%) compared to four-room (42.2%) and five-room (40.1%) flats in the same town.
The lease for the subject flat commenced in 1969, making it 56 years old. Resale prices for three-room flats over 50 years old appear to have held up the best in Bukit Merah ($634 psf) compared to those in the Central Region ($604 psf) and islandwide ($593 psf) (see Chart 2).
Source: EdgeProp Market Trends (as at 21 August 2025)
Five 99-year leasehold condos within walking distance
There are five 99-year leasehold condos within walking distance of 28 Jalan Klinik, namely Emerald Park, Central Green Condominium, Harvest Mansions, Meraprime and Highline Residences (see Map 4). Meraprime is the nearest to the subject flat. Central Green Condominium and Highline Residences are next to each other and across the road from Tiong Bahru MRT Station. Meanwhile, Emerald Park and Harvest Mansions are adjacent to each other and a short walk from Havelock MRT Station.
Source: EdgeProp LandLens (as at 21 August 2025)
None of these five condos are as old as the subject flat. However, Emerald Park is the oldest, having obtained its temporary occupation permit (TOP) in 1993, followed by Central Green Condominium (TOP 1995) and Harvest Mansions (TOP 1996). Meraprime and Highline Residences received their TOP in 2006 and 2018, respectively.
Highline Residences is not only the newest neighbouring leasehold condo, but it is also the largest, with 500 units. This is followed by Central Green Condominium (412 units), Emerald Park (280 units), Meraprime (213 units), and Harvest Mansions (66 units).
Among the older condos, Central Green Condominium commands the highest price. This year, the average resale price for Central Green Condominium is $1,639 psf, higher than Emerald Park ($1,559 psf) (see Chart 3).
Thus far this year, no sale transaction has taken place for Harvest Mansions, likely due to the limited number of units in the development. However, its average resale price was $1,392 psf last year, lower than that of Central Green Condominium ($1,701 psf) and Emerald Park ($1,554 psf).
Notably, the average resale prices for all three condos are above $1,000 psf, and significantly higher than the transacted price of $665 psf for the subject flat.
Source: EdgeProp Market Trends (as at 21 August 2025)
Conclusion
Bukit Merah is a desirable address due to its central location and numerous nearby amenities. As a result, HDB flats in the town tend to command top prices, unless they are older properties with short remaining leases.
The subject flat’s transacted price of $415,000 is at the lower end of the price spectrum for three-room flats in Bukit Merah, making it significantly more affordable than other three-room flats in the same town. In comparison, a three-room flat at 58 Havelock Road was sold in July for $860,000.
The subject flat has a remaining lease of only 43 years, which may make it less appealing to younger buyers. However, older buyers, particularly those without children, might find the short remaining lease less of a deterrent.
To learn more about this transaction, and whether it is a good deal, click here.
Check out the latest listings for Central Green Condominium, Emerald Park, Harvest Mansions properties
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