Kenny's Take
Two data points landed today that tell the same story from different ends of the market. Bukit Merah's new $1,466 psf record on a 4-room flat came in the same week HDB resale prices logged a second straight soft quarter — proof that townwide averages and individual high-floor, long-lease, MRT-linked units are moving in opposite directions. On the investment side, Stacked Homes' rental-yield ranking of 67 D9/D10 condos found the same pattern: compact one-bedders are the only unit type that's gained yield ground in a decade, even as District 9 and 10 overall post some of the island's lowest yields. If you're selling or valuing a well-specified unit in a mature HDB estate, don't anchor to the townwide RPI — get it valued on its own merits. And if you're chasing rental yield in the CCR, size down before you size up.
🏘️ Bukit Merah HDB Flat Sets New PSF Record
- A 4-room flat at 10A Boon Tiong Road in Bukit Merah transacted for $1.468 million — $1,466 psf — on a 1,001 sqft, high-floor (37th–39th storey) unit with 88 years remaining on its lease, surpassing the estate's previous $1,373 psf benchmark set in January 2026.
- The record lands in the same week HDB's Resale Price Index is running its second straight soft quarter townwide, underscoring a split market: the townwide average is cooling while specific high-floor, well-located, long-lease units keep setting fresh highs.
💼 Compact Units Are Where CCR Rental Yield Actually Lives
- Stacked Homes ranked 67 eligible condos across Districts 9 and 10 by rental yield: median rents run $7.49 psf for one-bedders versus $6.29 psf for two-bedders and $5.03 psf for three-bedders, but purchase prices don't scale down at the same rate.
- The result: one-bedroom units are the only segment in prime districts to have gained yield ground over the past decade, even though D9 and D10 overall post some of the lowest rental yields on the island because valuations have outrun rents.
🏗️ A New Care-Housing Category Opens At Rosyth
- Perennial Living, a privately developed assisted-living project at 28 Parry Avenue, began its first phase of operations on 18 August 2026 — 200 assisted-living apartments (studios from around $8,000 a month) with a 100-bed nursing wing due by year-end.
- It's a new category rather than a conventional resale or rental comparison, but worth knowing about for clients weighing options for ageing parents or planning a multi-generational move alongside the usual downsizing conversation.
🏦 Financing & Rates
- No new SORA print since 24 August's sixth straight weekly rise — 1-month at 1.197%, 3-month at 1.137%, 6-month at 1.111% — with Maybank still the best-in-market package at 3-month SORA +0.20% (1.34% all-in).
🔭 What I'm watching
- Whether Bukit Merah's $1,466 psf print pulls comparable high-floor, long-lease stacks in other mature estates toward a re-rating, even as the townwide RPI stays soft.
- Whether the D9/D10 yield data shifts more CCR-focused investor demand toward compact one- and two-bedders over the next few launches.