HDB Reviews Jumbo Flat Scheme After S$2.18 Million Listing
Singapore's Housing Board is reviewing its jumbo flat conversion scheme after a combined Telok Blangah unit was listed at S$2.18 million, a price over 40%
HDB is reviewing its jumbo flat conversion scheme after a combined three-room flat in Telok Blangah was listed for S$2.18 million. The agency stated the asking price is 'significantly higher' than comparable area transactions, triggering a policy reassessment.
Recent three-room flat transactions in Telok Blangah ranged from S$673,000 to S$771,000 over the past six months. Taking the upper figure, the combined price for two standard units would be about S$1.54 million. HDB said the current listed price is more than S$600,000 or over 40 per cent above this amount. The sale would shatter the current HDB resale record of S$1.73 million, set by a five-room flat in Henderson in April, by S$450,000.
Unit Formation and Ownership
The flat at Block 93B Telok Blangah Street 31 was formed by combining two adjoining three-room flats. The owners purchased the first unit directly from HDB in December 2017. They acquired the neighboring unit in August 2021 when that owner received approval to sell during the minimum occupation period due to family circumstances. HDB confirmed it has not yet received a resale application for the combined jumbo flat.
Features and Market Appeal
The jumbo flat offers 1,465 square feet with five bedrooms and four toilets. It retains two separate entrances and two bomb shelters from its original layout and has approximately 91 years remaining on its lease. Agent Thomas Tong noted the unit's rarity due to its size, central location, and long lease. He said its layout appeals to multi-generational families and investors. "Some buyers are thinking about renting out one side while living on the other side," Tong said.
Market Context and Potential Impact
If sold at the asking price, the transaction would set a new HDB resale record and require a substantial cash-over-valuation (COV) payment. COV is the cash amount paid upfront when a flat sells above its official valuation. The listing has generated very positive interest, though the final transaction price remains unknown.
For context, recent sales in the same block, Telok Blangah Parcview, show a clear premium for the jumbo unit.
| Flat Type | Size (sq ft) | Sale Price (Period) |
|---|---|---|
| 4-room | 1,001 | S$945,890 - S$1M (Jun-Aug 2026) |
| 3-room | 732 | S$695,000 (Jun-Aug 2026) |
| Jumbo (listed) | 1,465 | S$2.18M (Asking) |
Approximately 2,900 jumbo flats remain in Singapore, mostly concentrated in Woodlands. The current jumbo flat record is S$1.53 million, set by a four-room unit in Bukit Merah with a shorter 45-year lease. HDB's review of the conversion scheme may lead to updated eligibility rules or valuation guidelines for combined units.
