Clementi HDB flat sold for record S$1.28 million after just meeting five-year MOP requirement

SINGAPORE: A four-room Housing and Development Board (HDB) flat at Block 445B Clementi Avenue 3 has been sold for S$1.28 million (S$1,279 per square foot), marking a record-breaking transaction in Clementi. The sale took place on 15 July 2025 and was first reported by property portal 99.co. This transaction now holds the record for the most expensive four-room HDB flat sold in Clementi. The previous record was held by another four-room unit in the same area at Block 441B Clementi Avenue 3. That flat was sold for S$1.16 million in May, which means the new record surpasses it by S$120,000.

The record-setting flat is located within the Clementi Crest estate and occupies 1,001 square feet. It is situated between the 34th and 36th storeys of a 40-storey block, offering high-floor views. The unit's lease commenced in 2021, and the seller had only just fulfilled the five-year minimum occupation period (MOP) requirement before putting it up for sale. This leaves the flat with a remaining lease of approximately 94 years, a key factor likely contributing to its high resale value. Clementi Crest was launched during the Build-To-Order (BTO) exercise in May 2015, when four-room flats were priced from S$478,000, excluding any housing grants. Based on current sale prices, the seller could have earned a profit of up to S$802,000. However, 99.co cautioned that this is an estimated figure, as other undisclosed costs could lower the net gain. The recent sale is not an isolated case within Clementi Crest.

Another 4-room flat sold for S$1.207M in the same month

According to 99.co, another four-room unit in the estate's second block changed hands for S$1.207 million in July. Additionally, a similar transaction took place in June for S$1.18 million. These sales suggest sustained demand for flats in the estate, likely driven by location and amenities. Clementi Crest is located just a four-minute walk from Clementi MRT station and Clementi Mall, offering strong accessibility. It is also surrounded by multiple educational institutions. Within a one-kilometre radius, there are four primary schools, one secondary school, and NUS High School of Mathematics and Science. The concentration of educational options is seen as a strong appeal for families seeking long-term residences in a mature estate.

2024 saw record HDB resale activity and price growth

In June, a five-room resale flat at Dawson Road in Queenstown fetched nearly S$1.659 million, marking the highest recorded resale price for an HDB flat. The 122-sq m premium loft unit was located between the 22nd and 24th floors. While it marks the highest 5-room HDB resale transaction on public record, the most expensive flat remains a S$1.73 million unit at SkyOasis @ Dawson in June 2024. According to HDB data released on 24 January 2025, resale flat prices increased by 9.7% in 2024, following gains of 4.9% in 2023 and 10.4% in 2022. Despite strong demand, the number of resale transactions fell by 21.1% in the last quarter of 2024. However, the full-year total reached 28,986 units. A record 1,035 HDB resale flats crossed the S$1 million mark in 2024, highlighting continued demand for well-located, large, or premium units. At a 5 March 2025 budget debate, Singapore’s then-Minister for National Development, Desmond Lee, warned that such headline-grabbing prices could distort market expectations. Lee noted that these high-priced flats represented just 0.5% of transactions involving four-room or smaller flats over the past two years. “These flats are usually in central locations, high floors, and close to MRT stations and amenities,” Lee said, cautioning that inflated expectations could lead to a market misaligned with economic fundamentals.