Is it a Good Deal?: $439,000 for a three-room flat near Holland Village
A three-room flat near Holland Village was just sold for $439,000. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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Earlier this month, a three-room HDB flat at 2 Holland Avenue was sold for $439,000 ($627 psf). The 700-sq ft flat is located in the HDB town of Queenstown and prime District 10.
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 first to third storeys, secured a bargain.
In prime District 10
The three-room HDB flat at 2 Holland Avenue is within walking distance of Holland Village MRT Station, Holland Village, One Holland Village, Chip Bee Gardens, and Holland Drive Market and Food Centre (see Map 1).
The main drawback of its location is the lack of nearby schools, with Anglo-Chinese School (International) being the only one within a 1 km radius. However, when the radius is expanded to 2 km, more schools fall within the radius, including Henry Park Primary School, Nanyang Primary School, New Town Primary School, Fairfield Methodist School (Primary and Secondary), Queensway Secondary School, St. Margaret’s School (Secondary), Hwa Chong Institution (Secondary and Junior College) and Anglo-Chinese Junior College.
Source: EdgeProp LandLens (as at 13 October 2025)
Another drawback of the subject flat is its short remaining lease of 48 years (see Screenshot 1). Its lease started in 1974, making the flat 51 years old.
Source: EdgeProp Is it a Good Deal (as at 13 October 2025)
The subject flat’s short remaining lease could explain why the transacted price of $439,000 is at the lower end of the price spectrum compared to similar flats in the neighbourhood. The transacted price is also below the district’s average (see Screenshot 2).
Source: EdgeProp Is it a Good Deal (as at 13 October 2025)
Lower end of the price spectrum for three-room flats in Queenstown
So far this year, 219 three-room flats in Queenstown have been sold at prices ranging from $300,000 to $935,000. Hence, the transacted price of $439,000 for the subject flat is at the lower end of the price spectrum.
A flat at 83 Commonwealth Close was sold in July for $300,000 ($464 psf); this year’s record-low for three-room flats in Queenstown. The 646-sq ft flat is located on the seventh to ninth storeys. A reason for its low price could be its short remaining lease of 41 years, as its lease commenced in 1967.
Nevertheless, the buyer could have been attracted by the numerous nearby amenities. The flat is within walking distance of Commonwealth MRT Station, Commonwealth Crescent Market, Tanglin Halt Market, Ridout Tea Garden, New Town Primary School, and Queensway Secondary School (see Map 2).
Source: EdgeProp LandLens (as at 13 October 2025)
In contrast, the top price of $935,000 ($1,317 psf) was for a flat on the 34th to 36th storeys of 95 Dawson Road. The 710-sq ft flat was sold in April. Its long remaining lease of 95 years could have contributed to its high price.
Additionally, the flat is within a 1 km radius of Queenstown and Redhill MRT Stations, Margaret Drive Marketplace and Hawker Centre, Dawson Place, Queenstown Primary School, Queenstown Secondary School, and Crescent Girls’ School (see Map 3).
Source: EdgeProp LandLens (as at 13 October 2025)
The flat along Commonwealth Close is within 1 km of the subject flat (see Map 4), whereas the Dawson Road flat is more than 2 km away. Despite this, all three flats are located in Queenstown HDB town. Interestingly, the subject flat and the Dawson Road flat are in prime District 10, while the Commonwealth Close flat is in District 3.
Source: EdgeProp LandLens (as at 13 October 2025)
Among the lowest prices for flats in Holland Avenue
At the time of writing, 18 three-room flats along Holland Avenue have been sold this year at prices ranging from $408,000 to $568,000. The subject flat’s transacted price of $439,000 is among the lowest. Thus far, only five three-room flats along Holland Avenue, including the subject flat, have fetched less than $450,000 (see Table 1).
Source: EdgeProp Buddy (as at 13 October 2025)
The low prices for these five flats could be attributed to their short remaining lease of 48 or 49 years, as their lease commenced in 1974 or 1975.
Average price for older flats in Queenstown higher than the Central Region and islandwide
The average resale price for three-room HDB flats in Queenstown ($740 psf) is significantly lower than that of their four-room ($984 psf) and five-room ($955 psf) counterparts (see Chart 1). However, three-room flats (44%) have achieved stronger price growth since 2020 compared to four-room (29.3%) and five-room (37%) flats.
Notably, the transacted price of $627 psf for the subject flat is significantly below the average resale price of $740 psf for three-room flats in Queenstown.
Source: EdgeProp Market Trends (as at 13 October 2025)
However, the average resale price for three-room flats, aged more than 50 years, is highest in Queenstown ($638 psf), followed by the Central Region ($598 psf) and islandwide ($588 psf) (see Chart 2). This is despite such flats in Queenstown (41.5%) showing the lowest price growth since 2020 compared to their peers in the Central Region (45.5%) and islandwide (44.5%).
Source: EdgeProp Market Trends (as at 13 October 2025)
Only two 99-year leasehold condos within 500 m radius
There are 13 condos, representing approximately 860 units, within a 500 m radius of the subject flat. Of these 13 developments, only two are 99-year leasehold condos, namely The Merasaga and One Holland Village Residences (see Map 5). Like the subject flat, both condos are in District 10.
Source: EdgeProp LandLens (as at 13 October 2025)
In terms of age and size, the two leasehold condos differ greatly. The Merasaga obtained its temporary occupation permit (TOP) in 1995, making it 29 years older than One Holland Village Residences, which obtained its TOP last year. The Merasaga (116 units) also has roughly half the number of units as One Holland Village Residences (296 units).
Due to their age disparity, it is unsurprising that the most recent transactions for One Holland Village Residences ($3,781 psf) yielded a much higher average price than The Merasaga ($2,043 psf). Notably, the average price for The Merasaga is based on transactions concluded last year, as there have been no sale caveats lodged for the condo so far this year (see Chart 3).
Source: EdgeProp Market Trends (as at 13 October 2025)
Conclusion
The transacted price of $439,000 ($627 psf) for the subject flat is not only lower than the average for similar flats in Queenstown but also among the lowest for flats along Holland Avenue sold this year.
At the time of writing, five three-room flats along Holland Avenue, including the subject flat, have been sold for less than $450,000 this year. These flats have short remaining leases of under 50 years, which could have contributed to their low prices.
However, residents of the Holland Avenue flats enjoy close proximity to numerous amenities, including Holland Village MRT Station, One Holland Village, and Holland Village. A drawback would be the limited number of schools within a 1 km radius, which could dampen their appeal for couples with young children. Nevertheless, given its short remaining lease, the subject flat may be more appealing to older buyers who want a convenient home surrounded by amenities.
To learn more about this transaction, and whether it is a good deal, click here.
Check out the latest listings for One Holland Village Residences, The Merasaga properties
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