World · Singapore Bureau
Queenstown 5-room HDB flat sets record at S$1.818 million
A five-room Housing and Development Board flat in Singapore's Queenstown estate has fetched S$1.818 million, marking a new high for the mature residential precinct. The property, with 94 years remaining on its lease, reflects continued robust demand for centrally-located public housing.
LSN Singapore ·
The Queenstown flat transaction underscores the sustained appetite among Singapore buyers for well-located HDB units despite their advancing lease maturity. At S$1.818 million, the five-room unit surpasses previous price records for comparable properties in the established estate, which lies within close proximity to the city centre and key transport corridors.
Queenstown, developed in the 1950s and 1960s, remains one of Singapore's most sought-after mature estates due to its strategic location and established infrastructure. The 94-year lease tenure on the property indicates a flat completed approximately 26 years ago, providing buyers with several decades of remaining ownership before lease decline becomes a material consideration.
The transaction reflects broader market dynamics in Singapore's HDB sector, where premium pricing for units in prime locations has become increasingly common. Central and well-connected estates continue to command valuations comparable to or exceeding newer developments in more peripheral areas.
HDB flat prices have demonstrated resilience amid varied economic conditions, with mature estates offering accessibility to employment hubs and established community facilities. The Queenstown sale adds to evidence of sustained investor and owner-occupier interest in the public housing market's upper price segments.