A 5-Room Pasir Ris DBSS Flat Just Set A New $1.15M Record — $167K Above The Previous High

A five-room unit at Pasir Ris One – a Design, Build and Sell Scheme (DBSS) project – has set a record-resale price for this type of flat in Pasir Ris.

Situated at 530D Pasir Ris Drive 1, the 1,129.8 sq ft unit – which is located between the 10th to 12th floors – was sold for $1.15 million earlier this week. The sale price translates to $1,018 per sq ft (psf) on the floor area.

This trumps the previous resale record for a five-room unit in Pasir Ris, which involved a similarly sized five-room unit in the same block at Pasir Ris One. That unit changed hands for $982,800 ($869 psf) when it was sold in June 2024.

The latest record breaking sale at Pasir Ris One is also the first time that a resale unit at the DBSS project has transacted for at least $1 million, making it the first million-dollar unit in that development.

This transaction comes a few days after a HDB terrace on Stirling Road also fetched over a million dollars when it was sold last week, setting a record in Queenstown for that type of property.

Pasir Ris One is one of just 13 DBSS projects that came into existence, before the government scrapped this hybrid public-private housing scheme in 2011. The 447-unit development was jointly developed by Kay Lim, a local construction firm, and SingXpress Land, renamed SingHaiyi Group in 2013.

We toured Pasir Ris One nearly five years ago, and you can read our comprehensive review of the development at the time: Pasir Ris ONE DBSS Review: A Fantastic Location With Obvious Flaws.

Located along Pasir Ris Drive 1, the development is next to Pasir Ris MRT station on the East-West Line, and close to several familiar landmarks in the area such as White Sands shopping mall, Downtown East, and Pasir Ris Park.

Pasir Ris One was completed in 2015 and the development has approximately 87 years left on its lease. The relatively long remaining tenure means that most buyers shouldn’t have to worry about the negative impact of lease decay, or that the age of the development will limit financing.

Transaction data also suggests that resale prices for five-room flats in Pasir Ris One, especially within block 530D, have been climbing over the years. From a high of $930,800 in 2022, to $970,000 in late 2023, and then landing at $982,800 in 2024 before arriving at the latest $1.15 million price.

Other Sales in Block 530D Pasir Ris Drive 1

However, there are relatively few five-room resale units at Pasir Ris One, compared to the other three- and four-unit configurations. As a result, it’s possible that one or more outlying transactions may skew the overall price trajectory.

While the $1.15 million transaction has set a new price high for five-room units in that block, another sale that saw a similar unit (but on a lower floor) change hands for $920,000 this month as well. This indicates that the price range for resale five-room flats in Pasir Ris One is relatively wide, even for units within the same block.

To put the record in context, here are the five highest five-room resale transactions in Pasir Ris on record.

Top 5 Highest Five-Room Transactions in Pasir Ris

Resale data seems to suggest that the five-room units at Pasir Ris One are leading the pack in this neighbourhood. Three of the five highest five-room transactions in Pasir Ris are from Pasir Ris One, specifically from blocks 530B and 530D.

Block 528B on Pasir Ris Street 51 accounts for the other two entries on this list, with its larger 1,216 sq ft size offering it a size advantage.

We should point out that the transactions at Pasir Ris One are achieving prices of about $970,000, on the basis of the 1,130 sq ft five-room units. Meanwhile, the resale units along Pasir Ris Street 51 seem to be performing at similar or matching price levels despite being 86 sq ft larger.

This suggests that, on a per-square-foot basis, the larger units in Pasir Ris One are capable of outperforming its closest competitors in this area. It is too early to tell if the $1.15 million sale will pull up valuations in neighbouring DBSS blocks, or if buyers will regard it as a one-off premium for a particularly desirable unit.

There is also a chance that the owners of newer five-room flats in Pasir Ris may attempt to use the latest record transaction as a benchmark for their own selling purposes. But we would point out that older flats may not benefit as much because buyers would still be evaluating their decisions based on lease, age and other features.

Most Recent Five-Room Transactions in Pasir Ris (August 2026)

When we take a look at the most recent transactions across Pasir Ris for five-room flats, the data illustrates just how sharply the DBSS blocks at Pasir Ris One are priced above the rest of the district.

In this month alone, another unit at 530D on the first to third floors sold for $920,000. That is $105,000 above the next highest transaction in the month, a larger 1,324 sq ft unit at 567 Pasir Ris Street 51 that fetched $815,000.

On the other hand, the three non-DBSS transactions this month ranged from $778,000 to $815,000, and are more broadly representative of where the five-room resale market in Pasir Ris sits.

Overall, the 12-month median price for five-room resale flats across Pasir Ris is $735,000, based on 257 transactions lodged during that period. And this is based on prices ranging from $643,800 to the new record of $1.15 million.

This also means that the record-setting unit is $415,000 above the district median price for this unit type. There are indicative signs that in the future, Pasir Ris could see an emerging two-tier resale market, where differentiated homes (such as the DBSS units at Pasir Ris One) trade at a substantial price premium over the broader five-room stock in that district.

So, Why Have Prices Held Up At Pasir Ris One?

It is worth taking a closer look at why this 1,130 sq ft unit achieved the area’s highest five-room psf price, despite not being the largest five-room flat in Pasir Ris.

From what we can gather, this is likely due to a combination of factors such as the location, the relatively young age of the property, its tenure, and scarcity of DBSS flats since the scheme ended in 2011.

Pasir Ris One is only about 11 years old, which is a highly attractive age for a residential development in an area like Pasir Ris where the five-room resale stock mostly consists of older flats with shorter remaining leases.

Other factors such as renovation, facing, condition, urgency, negotiation dynamics and other unit-specific factors could have also contributed to the price. Additionally, the project benefits from several strong locational attributes, including its proximity to key amenities such as Pasir Ris Mall, Pasir Ris MRT station and the integrated transport hub.

It is also close to Pasir Ris Central Hawker Centre and Pasir Ris Town Park, with established schools Casuarina and Elias Park Primary Schools and preschools within 1km.

Aside from the headline sale, the housing market in Pasir Ris has gotten more interesting as it has shown how a shortage of comparable, newer resale residential units can fetch a premium within an otherwise much affordable housing market.