A 4-Room HDB Flat Just Set A New Geylang Price Record At $1.1M — Despite Being On A Lower Floor

A four-room flat at MacPherson Spring has set a record resale price for a four-room flat in Geylang. The 1,001 sq ft unit at 82B Circuit Road, between the seventh and ninth floors, changed hands for $1.1 million ($1,099 psf) when it was sold earlier this week.

This edges past the previous town record for a resale four-room flat in Geylang by $12,000. Both record-setting flats are located in Macpherson Spring.

That sale involved a unit at the neighbouring block 82A Circuit Road, a similarly sized 1,001 sq ft flat between the 16th and 18th floors, which was sold for $1.088 million ($1,087 psf) in July 2025. 

This is not the first time resale flats at Macpherson Spring have set record prices. In April, a three-room flat in that HDB development transacted for a record $872,000 ($1,191 psf). That sale was even more noteworthy because the buyer paid an additional cash-over-valuation (COV) of $52,000.

But what makes the new four-room resale record notable is the floor on which it sits. The record-setting unit at 82B is on the seventh to ninth floors, well below the 16th to 18th floors of the previous record-holder at 82A. Usually we see units on higher floors command a price premium over lower-floor units. But in this case, the dynamic appears to have flipped.

What Makes This Transaction Stand Out

MacPherson Spring is a Build-To-Order (BTO) development that was included in the February 2015 BTO sales exercise. The 750-unit development was completed in 2019, making it a relatively new development when compared against other HDB projects in Geylang.

With about 92 years left on its lease, the HDB flats there all sit comfortably clear of the lease-decay thresholds that tend to give buyers pause.

The previous four-room resale record in Geylang was a unit at the neighbouring block 82A, and the flat is situated on the 16th to 18th floors. But the latest record-setting sale at 82B involved a flat that is nine floors lower, on the seventh to ninth floors.

For the same $1,001 sq ft floor plate and a near-identical lease length, a lower-floor unit has now pushed through a higher price ceiling.

Looking at the transaction history within 82B itself, the price progression in recent months is clear. A 1,001 sq ft unit on the 13th to 15th floors fetched $1,080,000 in June 2024, followed by a unit on the 16th to 18th floors went for $1,070,000 in June 2025. This culminated in November 2025 and again in June 2026, when two units on the 10th to 12th floor units each transacted at $1,080,000.

This block has 234 units in total, with a mix of 72 three-room and 162 four-room flats across 19 storeys. The four-room units at 82B are all 1,001 sq ft, which means buyers are essentially comparing identical floor plates. The key differentiators come down to facing, floor, and timing.

Other Top Sales in Block 82B Circuit Road

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

Top 5 Highest Four-Room Transactions in Geylang

Based on these transactions, a pattern seems to emerge. All five of the highest four-room resale prices in Geylang have come from blocks along Circuit Road, specifically within the MacPherson Spring cluster. No other part of Geylang has come close to these price levels for four-room flats.

We should also consider how high these flats are situated. The top five transactions span floors from the seventh to ninth up to the 19th to 21st, and prices are clustered tightly between $1.083 million and $1.1 million.

The spread across this entire range is just $16,500, which suggests that how high a unit is is not the primary driver of price within this cluster. We think that lease length and block identity appear to matter more to buyers there.

Most Recent Four-Room Transactions in Geylang (July 2026)

The most recent transactions across Geylang for four-room flats illustrate just how much of a premium the MacPherson Spring blocks command within the town. The next highest transaction in July 2026 is the 83B Circuit Road unit at $1.065 million, also within the same cluster. After that, prices drop noticeably. A unit at 18D Circuit Road on the 10th to 12th floors fetched $992,222, and the gap widens further for units at Pine Close and Geylang Serai.

The $1.1 million record is $382,500 higher than the 12-month median resale price of $717,500 for four-room flats in Geylang, based on 280 transactions lodged over that period. The full price range across those 280 transactions ranges from $451,888 to the new record of $1.1 million. That is a relatively wide price band, and it reflects the two-tier nature of the four-room resale market in this town.

Why The Price Held Up

We think that the most straightforward explanation for the record price is the lease. With about 92 years remaining at the time of sale, the unit at 82B Circuit Road effectively offers a near-fresh tenure in the context of the HDB resale market.

For buyers taking a bank loan, a lease of this length removes the restrictions that shorter-lease flats can impose on maximum loan tenure and eligible buyer profiles.

MacPherson Spring is also one of the newer HDB developments in Geylang, a town where most of the resale flats are much older. The newer build quality, the point-block or slab design, and the unit layouts typical of post-2015 BTO projects carry a meaningful appeal for buyers who want newer fittings and finishes without paying private property prices.

The unit mix at the block is also relevant. With 162 four-room units in a 234-unit block, and all four-room units sharing the same 1,001 sq ft floor plate, the pool of directly comparable units is relatively contained. Fewer competing floor plans means that when a buyer and seller agree on a price, there is less ambiguity about what the unit is worth relative to its neighbours.

The concentration of record-setting transactions along Circuit Road, spanning blocks 82A, 82B, 83A, and 83B, suggests that buyer demand for this specific cluster of newer BTO blocks within Geylang has been consistently strong for at least the past 12 to 18 months. Over that period, the price ceiling has moved upward from $1.080 million in mid-2024 to $1.1 million today, a gain of $20,000 in terms of the resale price ceiling in this part of Geylang.

Across the wider Geylang resale market, resale activity is still heavily influenced by older flats with shorter leases and different locational attributes, with the 12-month median price sitting at $717,500 across 280 transactions.

The flats at MacPherson Spring are apart from this resale group in almost every measurable way: newer lease, newer construction, and a demonstrated track record of buyer willingness to pay above the $1 million threshold.

In order for the resale price to continue climbing there, we will have to see if other mid-floor or lower-floor units can also fetch a million-dollar price tag, or we might see buyer appetite begin to taper at this price point.