This HDB Just Crossed $1.3M For The First Time — In An Unexpected Area

A five-room flat at 7 Pine Close in Mountbatten has set a new record price for a resale five-room HDB flat in Geylang. The 1,184 sq ft unit, which is between the 19th and 21st floors, transacted for $1.375 million ($1,161 psf) when the sale was lodged on Dec 30, 2025.

Previously, the record price for a five-room resale flat in Geylang was $1.31 million ($1,015 psf). This involved a 1,291 sq ft flat at 28 Cassia Crescent, a nearby block that is less than 200m away from 7 Pine Close.

However, the island-wide record for a resale five-room flat was lodged in July 2024. The 1,180 sq ft unit on the 45th floor at SkyOasis @ Dawson transacted for an eye-watering $1.73 million ($1,466 psf).

Turning back to 7 Pine Close, the lease on the 25-year old block started in June 2000, giving it a remaining lease of 73 years. The block comprises four- and five-room flats that range from 1,023 sq ft to 1,216 sq ft.

Based on HDB transaction data, this is the first time a unit at 7 Pine Close has changed hands for more than $1.3 million. There were five resale transactions at the block in 2025:

Based on transaction data, it seems that some of the HDB blocks surrounding 7 Pine Close have begun to cross the $1 million threshold. The neighbouring block 11 just recorded its first million-dollar sale last June when a 1,216 sq ft five-room unit fetched $1.038 million ($853 psf).

Meanwhile, 5 Pine Close registered the sale of a 1,195 sq ft five-room flat, between the 10th to 12th floor, that was sold for $1.3 million ($1,088 psf) last September. The previous price high at that block was just over a million-dollars when a diffeent 1,195 five-room flat was sold for $1.068 million ($894 psf) in June 2024 – but this unit was located on a higher floor, between the 19th to 21st floors.

There are several reasons why resale prices at 7 Pine Close and its neighbouring blocks have seen a sustained price increase in recent months. The view is probably a good reason, and considering that the flat with the record sale is on a high floor, it’s a strong likelihood that this unit faces a pretty spectacular view towards Kallang and Marina East.

The area is also centrally located and the proximity to Mountbatten MRT station on the Circle Line (CCL) enhances public transport accessibility. The station is two stops away from Promenade Interchange which connects the Downtown Line and CCL; meanwhile, Dhoby Ghaut Interchange, along the Orchard Road shopping belt, is six stops away.

Mountbatten also hasn’t seen a lot of new BTO supply coming its way. The latest BTO project was Dakota Crest, a 443-unit development along Old Airport Road, which launched as part of the February 2022 BTO sales exercise.

The project was drastically oversubscribed by over 6.3 times at the close of the BTO application period. Check out our past article where we spoke to a couple who successfully balloted for a unit at Dakota Crest, and why they chose a three-room flat.

However, the supply situation around Mountbatten might change in the coming years. Last month, when the Master Plan 2025 was gazetted, several sites around Mountbatten Square and Mountbatten Centre, collectively spanning at least 7ha, were re-zoned for future residential development.

The sites currently house the Singapore Association for the Deaf and a number of preschools. If these sites are redeveloped, they could yield up to 2,500 new BTO flats with the first project offered as early as 2027.

Price growth in the HDB resale market has finally flattened, with the latest housing statistics showing a near 0% q-o-q change in 4Q2025. And, with more than 13,800 flats expected to reach their MOP this year, it looks like price growth across most HDB towns will be much more moderate as buyer’s will have a wide range of newer resale flats to pick.