408 jumbo flats sold in past 10 years, median price $910,000 in 2025: Chee Hong Tat

A total of 408 converted HDB flats were sold between 2016 and 2025, said Minister for National Development Chee Hong Tat on Wednesday (Oct 7).

These flats were transacted at a range of prices, depending on the prevailing market condition, and the flat's location and attributions, he added.

He was responding to a parliamentary question from MP David Hoe (Jurong East-Bukit Batok GRC), who had asked for the number of such sales.

The first-term MP also asked if HDB assesses such resale prices, and whether they remain within reach of larger households seeking more space while remaining in their existing estate.

Converted flats — commonly referred to as jumbo flats — fall under the HDB's Conversion Scheme.

Under the scheme, eligible owners of three-room or smaller HDB flats who require more living space can apply to combine their flat with an adjoining three-room or smaller unit, to form a bigger unit.

HDB's assessment on the structural feasibility of combing the units must also be obtained before a purchase application can be submitted.

If approved, the two units can then be combined into a single flat under one lease.

Such converted flats can only be sold on the open market after the new minimum occupation period is met.

In his reply, Chee stated that the median resale price for such flats in 2025 was $910,000.

Turning to the question of resale prices, the minister encouraged prospective buyers to conduct thorough research.

They should also evaluate their housing options carefully, and plan their finances prudently. This, he said, would help them avoid overpaying for the flat.

$2.18m Telok Blangah jumbo flat

The parliamentary question filed by Hoe comes after a jumbo flat in Telok Blangah was recently listed for sale at $2.18 million .

The asking price has since been reduced to $1.99 million and the listing remains live as of Thursday morning.

According to listing agent Thomas Tong, the adjustment was made to facilitate a sale and shift the focus away from the media attention surrounding the home. The revised price is also negotiable.

In a statement issued to AsiaOne on Sept 25, HDB said that the listing price of $2.18 million is "significantly higher" than what comparable transactions in the area suggest.

It pointed out that transactions for individual three-room flats in the area currently range from $673,000 to $771,000.

"Based on the upper end of this range, the total price of two such flats would amount to around $1.54 million," HDB said, highlighting that the current listed price is more than $600,000 or over 40 per cent above this amount.

This means that should a transaction proceed at the listed price, a substantial cash-over-valuation, which must be paid fully in cash upfront, will be incurred.

The board also said that it is now reviewing the conversion scheme , reiterating the Government's commitment to keeping public housing affordable and accessible.

'Not unrealistic': Agent

Speaking to AsiaOne on Sept 20, Tong pointed out that while a jumbo flat is not uncommon, one with 91 years remaining on its lease, and in Telok Blangah is "probably one of its kind now".

He pointed out that a new four-room flat at prime areas such as Belayer is already offered at nearly $800,000.

This, along with transaction data showing that four-room flats at nearby Dawson Road achieved an average gain of 75.3 per cent upon their MOP, indicates that a $2 million HDB resale transaction is a matter of time, Tong said.

He acknowledged that it will take time for people to understand and accept the eventuality of this new price benchmark.

"HDB prices hitting $2 million is an eventuality, it's just a matter of when. When HDB resale prices first crossed the $1 million mark, there was this same response of disbelief," Tong added.

The current record for jumbo flats in nearby Bukit Merah is $1.53 million set in May 2026.

国家发展部长徐芳达周三（10月7日）表示，2016年至2025年间，共售出408套改建组屋。

他补充说，这些公寓的成交价格各不相同，取决​​于当时的市场状况以及公寓的位置和配套设施。

他是在回应国会议员David Hoe（裕廊东-武吉巴督集选区）的议会质询，David Hoe询问此类销售的数量。

这位第一任议员还询问建屋发展局是否会评估此类转售价格，以及这些价格是否仍在希望在现有组屋区内拥有更大空间的大家庭的承受范围之内。

改建组屋（通常被称为巨型组屋）属于建屋发展局的改建计划。

根据该计划，符合条件的拥有三房式或更小组屋的业主，如果需要更大的居住空间，可以申请将自己的组屋与相邻的三房式或更小的组屋合并，形成更大的组屋。

在提交购买申请之前，还必须获得建屋发展局对合并单元的结构可行性的评估。

如果获得批准，这两个单元可以合并成一套公寓，并签订一份租赁合同。

此类改建公寓只有在满足新的最低入住期限后才能在公开市场上出售。

Chee在回复中表示，到2025年，此类公寓的转售价格中位数为910,000美元。

谈到转售价格问题时，部长鼓励潜在买家进行彻底的调查研究。

他们还应该仔细评估各种住房选择，并谨慎规划财务。他说，这将有助于他们避免为公寓支付过高的价格。

218万美元直落布兰雅巨型公寓

Hoe提出的议会质询，源于最近位于Telok Blangah的一套巨型组屋以218万新元的价格挂牌出售。

截至周四上午，要价已降至 199 万美元，该房产仍挂牌出售。

据房产经纪人托马斯·唐（Thomas Tong）称，此次价格调整是为了促进房屋出售，并转移人们对该房屋媒体关注的注意力。调整后的价格还可以商议。

建屋发展局 (HDB) 在 9 月 25 日向 AsiaOne 发表的声明中表示，218 万美元的挂牌价格“明显高于”该地区类似交易的价格。

报告指出，该地区三房式公寓的交易价格目前在 673,000 美元至 771,000 美元之间。

“按照这个价格区间的上限计算，两套这样的组屋总价约为154万美元，”建屋发展局表示，并强调目前的挂牌价格比这个价格高出60多万美元，也就是40%以上。

这意味着，如果交易按标价进行，将会产生大量的现金溢价，这笔溢价必须预先以现金全额支付。

董事会还表示，目前正在审查改造方案，重申政府致力于保持公共住房价格合理且易于获得。

“并非不切实际”：经纪人

9 月 20 日，Tong 在接受 AsiaOne 采访时指出，虽然巨型组屋并不罕见，但位于直落布兰雅 (Telok Blangah) 且还有 91 年租期的巨型组屋“现在可能是独一无二的”。

他指出，在贝莱尔等黄金地段，一套新的四房式组屋的售价已经接近 80 万美元。

Tong表示，这一数据，再加上交易数据显示附近道森路的四房式组屋在达到最低居住年限后平均收益率达到75.3%，表明200万新元的组屋转售交易只是时间问题。

他承认，人们需要时间来理解和接受这一新的价格基准最终会成为现实。

“组屋价格达到200万新元是必然的，只是时间问题。当组屋转售价格首次突破100万新元大关时，人们也同样难以置信，”Tong补充道。

附近武吉美拉的巨型组屋目前的最高成交价纪录是 153 万美元，于 2026 年 5 月创下。