It has been less than three months since we reported on the last record-breaking HDB resale transaction, but that bar has been smashed yet again.
This time, the top spot has been clinched by the sale of a 1,215 sq ft five-room flat at City Vue @ Henderson, a 1,232 development on Henderson Road in Bukit Merah. The unit, which sits between the 46 - 48th floors, was sold for $1.728 million ($1,381 psf) this week.
This trumps the previous record of $1.7 million which was lodged when a 1,313 sq ft five-room flat at SkyTerrace @ Dawson was sold in February. The sale price of the unit, which sits between the 19 - 21st floors, translates to $1,295 psf.
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This is not the first time that a resale flat at the iconic City Vue @ Henderson has set record-breaking prices. Read our comprehensive review of the HDB development to find out why it has continuously commanded sky-high prices.
It was less than four years ago when we previously wrote about a 1,215 sq ft five-room flat at City Vue @ Henderson which fetched a record-breaking price of $1.4 million in May 2022. The psf price for the record sale back then was $1,152 psf.
The HDB project smashed records again when another five-room flat, this time spanning 1,236 sq ft on the 46 - 48th floors, changed hands for $1.588 million ($1,285 psf) when it was sold in June 2024.
City Vue @ Henderson sits at the junction of Henderson Road and Tiong Bahru Road. The entire development comprises five blocks that range from 40- to 48-stories tall, with a mix of two- to five-room flats.
The record-setting transaction is a unit in Block 96A Henderson Road, and it is a point-block that faces the road junction. Given the unit’s estimated floor - it could be the highest floor unit on the 48th floor - and the prominent orientation of the block, these are strong attributes that likely supported the eye-watering price that has just been recorded.
When Stacked visited the development in 2021, it was clear that the views overlooking the surrounding neighbourhood - especially towards Tiong Bahru and River Valley - greatly contributed to the appeal of the various units there.
Moreover, the development’s architecture and design has clinched several top awards, including the HDB Design Award in 2019. You can read about the facilities and amenities found throughout the development in our review.
According to transaction data, it appears that the highest resale transactions at City Vue @ Henderson, that involve sales of more than $1.5 million, tend to be concentrated in the East-facing blocks (Blk 96A, 95B, and 95C).
Excluding the record-setting deal that was recently lodged, the other top resales at these blocks are:
- 95C: $1.5 million ($1,234 psf) for a five-room flat on the 40 - 42nd floor, sold in June 2024
- 95B: $1.2 million ($987 psf) for a four-room flat on the 40 - 42nd floor, sold in May 2025
Recently, the government released the housing statistics for the first quarter of this year, and the figures indicate that the public housing market recorded the first quarterly price decline since 2Q2019, nearly seven years ago. The resale index, a measure of average resale HDB prices, fell by 0.1% q-o-q, after a flat reading in 4Q2025.
While this might seem a relatively insignificant drop in the average price, it is a soft landing for the public housing market after consecutive quarterly price increases since the end of the Covid-19 pandemic.
But don’t take these averages at face value. In our article covering the latest statistics, we explain that while the average resale price is moderating, the chance of a two-tier market emerging is growing.
In particular, the number of million-dollar flats as a total proportion of all quarterly resale transactions is increasing, and it reached a new high of 412 of these transactions in 1Q2026. This is a 17.7% increase compared to the 350 million-dollar resale transactions in 4Q2025, and a 23.4% increase compared to the figure in 1Q2025.A possible side-effect of a possible two-tier market in the HDB resale segment is a growing attention towards smaller three-room flats. Stacked recently covered the sale of a three-room flat in Geylang that sold for $872,000, where the buyer paid a $52,000 cash over valuation (COV).
At Stacked, we like to look beyond the headlines and surface-level numbers, and focus on how things play out in the real world.
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