FoundOnEdgeProp: Live in popular Bukit Merah for under $1 million

and HDB flats in Bukit Merah on EdgeProp.

Bukit Merah is a popular residential neighbourhood because of its central location and various surrounding amenities. And it is expected that the Remaking Our Heartland initiative will bring in even more demand. If you’re interested in living in Bukit Merah, you’ll be pleased to find that there are several options for purchasing a home in the area for under $1 million.

Facilities at Woodlands Condo include an outdoor gym, swimming pool, reading rooms, squash court, cafe and a covered car park. The units are well-appointed with modern appliances and finishes, and are located close to amenities such as restaurants, schools, and shopping malls. Residents can enjoy the convenience of living in the city without the traffic and congestion. The development is also well connected by public transport, giving residents easy access to their workplaces.

Take a look at The Foresta @ Mount Faber. This freehold property has 141 units and was granted Temporary Occupation Permit (TOP) in 2014. The Foresta is close to Telok Blangah MRT Station, VivoCity, Blangah Rise Primary School, Seah Im Food Centre, HarbourFront Bus Interchange, The Southern Ridges, and SAFRA Clubhouse (Mount Faber). We scoured EdgeProp’s list of condos and HDB flats here and found several units before discovering that all listings with an asking price of under $1 million were for one-bedrooms. The lowest asking price was $880,000 ($2,047 psf) for a 430-sq ft unit, while the highest asking price was $990,000 ($2,045 psf) for a 484-sq ft unit, both on ground floor.

Another option could be Spottiswoode 18, a freehold development that obtained its TOP in 2014 and is located along Spottiswoode Park Road in District 2. It’s walking distance to both Outram Park and Cantonment MRT Stations, the latter of which remains under construction but is expected to be completed by 2026.

You’ll find plenty of amenities nearby, such as Cantonment Primary School, Maxwell Food Centre, Tanjong Pagar Plaza, Ayer Rajah Expressway (AYE), and Singapore General Hospital. Following a search of EdgeProp, we found several listings of one-bedrooms in Spottiswoode 18 under $1 million. The lowest asking price was $930,000 ($2,397 pfs), while the highest asking price was $968,000 ($2,495 psf). Both listings were for 388-sq ft units.

Source: EdgeProp Market Trends (as at 9 October 2023)

Since 2016, the average resale price for condo units under 500 sq ft in The Foresta @ Mount Faber has dropped by 2% to the current price of $2,021 psf, while the average resale price for similar units in Spottiswoode 18 has risen by 20% to the current price of $2,426 psf. Meanwhile, freehold condo units under 500 sq ft in Bukit Merah have increased at a slower pace of 13% to the current average price of $2,322 psf.

Families looking for five-room HDB flats near Spottiswoode 18 for under $1 million should take note of 109 and 110 Spottiswoode Park Road. Both blocks were completed in 1979 and are located beside the future Cantonment MRT Station and the AYE. The listing with the lowest asking price of $816,000 ($627 psf) was for a 1,302-sq ft flat at 109 Spottiswoode Park Road, while the listing with the highest asking price of $980,000 ($741 psf) was for a slightly larger 1,323-sq ft flat at 110 Spottiswoode Park Road.

For newer five-room HDB flats in Telok Blangah, there were three listings under $1 million for 86 Telok Blangah Heights and one listing for 85 Telok Blangah Heights. Both blocks were completed in 2003. The lowest asking price on EdgeProp’s list was $860,000 ($726 psf) at 86 Telok Blangah Heights and the highest was $935,000 ($790 psf) for 85 Telok Blangah Heights. Both blocks are within walking distance of each other as well as Blangah Rise Primary School, Depot Heights Shopping Centre, The Southern Ridges, and Telok Blangah MRT Station (CCL).

Source: EdgeProp Market Trends (as at 9 October 2023)

The average resale prices for five-room HDB flats in Bukit Merah and the Central Region have moved in tandem since 2012 and are significantly higher than the average resale price for their islandwide counterparts. Since 2012, the average resale price for five-room HDB flats in Bukit Merah has grown by 22% to the current average price of $724 psf, with resale prices for similar flats in the Central Region and islandwide increasing by 27% to $709 psf and $540 psf, respectively.

If you’re keen to find out more about The Foresta @ Mount Faber, Spottiswoode 18, and HDB flats in Bukit Merah, take a look at the recent EdgeProp listings.