Singapore’s Skyscraping Real‑Estate Milestone
Picture this: a sprawling 1,765‑square‑foot family haven, perched on the 10th to 12th floors of a 1987 flat at 666 Yishun Avenue 4, just hit a fresh all‑time high in the resale market. When the final signed paper slipped through the bank’s hands on October 19, the price tag read $1,063,000 — that’s a slice of a whopping $601 per square foot. Indeed, name a more jaw‑dropping figure, and you’ll hear the house of cards crack soundfully.
Two Record‑Breaking Firsts, One Anomaly
- First: The first million‑dollar multi‑generation flat in Singapore’s resale arena.
- Second: The first-ever multi‑generation unit to eclipse the $600 psf threshold.
Both milestones were achieved at the same time, a perfect storm of high‑floor, high‑price, and maybe a splash of luck.
Timing Matters
It’s worth noting that the sale was sealed just 20 days after the new cool‑down measures went live on September 30. Because the unit sits on a higher floor (10‑12 range), there’s a good chance the option‑to‑purchase (OTP) got signed well before the policy took effect. In other words, Singapore’s anti‑celebrity‑wealth power‑play might have already been a thing of the past, at least for this particular unit.
Past Record Watch‑Out
Before this record‑breaker blew the roof off, the previous high‑water mark was held by a 1,787‑sqft flat at 460 Tampines Street 42, sold for $990,000 ($554 psf) back in October 2018. That unit tucked in on the lower floors (fourth to sixth) and didn’t become the talk of the town in a 6‑figure price punch.
So, if you’re living the “make it or break it” HDB dream, keep a watchful eye: the next big leap could very well happen on a floor that’s higher than your expectations.
What is the difference between a multi-generation “granny” HDB flat (from the late 1980s) with the newer 3Gen flat?
Inside the HDB Granny Era: A Walk Back in Time
Before the slick 3Gen flats rolled out in 2013, Singapore’s Housing & Development Board (HDB) was already experimenting with multi‑generation living. Back in the late 1980s, they turned 3‑ and 4‑room blocks into what folks later called “granny flats.”
What Went Into the Mix?
- Size Matters: 133‑165 square metres (1,432‑1,776 sqft) of real premium space.
- Studio + Main Unit: A separate 40‑sqm studio attached to the main house, designed so grandparents could live right next door.
- Extra Doors and Kitchens: Some houses got a brand‑new entrance, a second kitchen, and three toilets—because splitting units meant more bathrooms, right?
How It All Happened
There’s an interconnecting door linking the studio and the main apartment—think of it as a secret portal that lets the family “right‑over” the next room without ever stepping outside.
A Bit of Humor and Heart
Imagine hosting your grandparents in a place that feels less like a “just a granny’s pad” and more like a real home where they don’t feel awkward about dropping by for a morning coffee.
The Quirky Tale of Singapore’s “Granny Flats”
Where These Hidden Gems Hides
- Bishan Streets 11 & 12
- Tampines Street 42
- Yishun Street 61
- Yishun Avenue 4
Back in 1987‑88: How Much Was It Worth?
When the concept first rolled out, the price tag hovered between $80,700 and $140,700. Think of it as the “Affleck‑level” price for a tiny, but oddly handy, apartment.
Why The Original “Concept” Was a Bust
Despite sounding fancy, the extra studio apartment was never used by the “grannies” it was meant for. The house‑hold’s grand strategy kicked into “Plan B” for long story short: they moved their parents inside the main home and spruced up the spare studio for a bunch of other things.
What the Residents Actually Did
- Studied hard (turned it into an office)
- Hardened the body (used it as a workout room)
- Unleashed the creativity (converted to a workshop)
- Chilled out (made it a relaxing pad)
Old‑Style Granny Flats vs the 3Gen Modern‑Day Play
Let’s be clear: these 1980s gems aren’t the same 3Gen units we’ve seen at Canberra Vista or Central Weave. The newer 3Gen flats are a tad shrunken – only about 1,292 sqft – but they outpace the current five‑room BTO flats just barely.
Why Modern Households Still Love the Old Shearch
The big draw? Extra entrances, spaciousness, and, honestly, a “grandparent on standby” vibe. Even decades later, many families are still head over heels for these multigenerational housing options.
<img alt="" data-caption="Like what we saw at the recent August BTO 2022 launch of Ang Mo Kio's Central Weave, a new 3Gen flat has four bedrooms (two masters) and three bathrooms (two ensuites).
It covers about 120 square metres (1292 sqft) of floor space (115 sqm internal excluding aircon ledge). The price range for a 3Gen flat at Central Weave was $713,000 to $842,000. PHOTO: 99.co” data-entity-type=”file” data-entity-uuid=”56d34dec-5ece-4ff2-b984-492f2b2c96b8″ src=”/sites/default/files/inline-images/20222010_3gen_floor_plan_99co.jpg”/><img alt="" data-caption="Comparatively, Ang Mo Kio Central Weave's five-room flats has 113 square metres of floor area (1216 sqft) – 110 sqm internal excluding air-con ledge.
It comes with three bedrooms (one master) and two bathrooms (one ensuite). At the August 2022 launch, the price range for a five-room flat at Central Weave was $720,000 to $877,000. PHOTO: 99.co” data-entity-type=”file” data-entity-uuid=”f33111e9-6740-4b47-b9cf-ee00da6b8e25″ src=”/sites/default/files/inline-images/20222010_5room_floor_plan_99co.jpg”/>
666 Yishun Avenue 4
A Street‑Smashing Look at 666 Yishun Avenue 4
Lease Lingo
Commissioned in December 1987, this slice of Singapore real‑estate is set to grumble on the market for another 64 years and three months before the lease does its final bow.
What the Block Offers
Picture a multi‑generation pad that’s basically a family vault: 66 cozy units ranging from 1,582 sqft to 1,927 sqft. Think of it as a “big family” apartment where no one is chasing the biggest size.
The Price‑Shock Plate
It’s worth noting that the headline‑grabbing $1.063 million landed on a 1,765 sqft space—not even the block’s absolute grandest flop, yet it flipped the expectation on its head.
Past Deals That Rewind the Timeline
- November 2021: A 1,765 sqft slot sliced through the market for $838,000—\$474.79 per sqft.
- January 2021: A slightly larger 1,927 sqft unit flew off the shelves for $860,000—\$446.29 per sqft.
Million‑Dollar Marvels on Yishun Avenue 4
Just 200 metres from the notorious Blk 666, a 1,948‑sqft executive loft at 664 Yishun Avenue 4 broke the million‑dollar barrier, fetching a sweet $1,000,888 ($514 psf) in May 2022. It’s not just a one‑off; the whole street is buzzing.
Four Floating Fortunes
- 664 Yishun Ave 4 – $1,000,888
- 661 Yishun Ave 4 – $1,078,000
- 652 Yishun Ave 4 – $1,038,000
- 608 Yishun St 61 – $1,000,000
Even though these blocks sit a tad farther from Yishun or Khatib MRT stations, their prices are soaring like rockets. It feels almost, dare we say it, magical—as if Yishun Avenue 4 is sprinkled with a bit of real‑estate sorcery.
Probably the secret sauce is the way the buildings nestle neatly beside key conveniences: Wisteria Mall, Safra Yishun, Yishun Park, and Khoo Teck Puat Hospital. Think of it as a neighbourhood packed with shops, parks, and lifesaving facilities—all in one neat bundle.
What’s the Bottom Line?
So if you’re chasing a million‑dollar home and come across Yishun Avenue 4, you might want to be polite about asking for a spell for the next listing. It’s a place where the hustle, health, and high‑end real estate meet—and the numbers just keep climbing.
The significance of the million-dollar multi-generation HDB resale flat
Singapore’s Landmark HDB Multi‑Gen Flat Sales – A Quick Tour
Since 2012, 18 multi‑generation HDB resale flats have gone for more than $900,000 – and the trend has been nothing short of wild. Let’s break down the highs and where you’ll probably want to keep your eyes peeled.
Key Milestones in Flat Sales
- 2012‑2019: 10 of the 18 record‑shattering sales happened during this span, setting a new bar for what a “cheap” flat can mean.
- 2020: A 1,722‑sq‑ft gem on Bishan Street 11 snagged a $940,000 winning bid – that’s ₹545.88 per square foot of pure Singapore heritage.
- 2021: Four fancy multi‑gen grapplers kicked off the year with sales of $920,000 to $965,000, piling up at Tampines Street 42 and Bishan Streets 11 & 12.
- 2022: Two more beauties made the headlines. The 460 Tampines Street 42 unit sold for $968,000, while the 633 Yishun Street 61 listed for a sticky $980,000.
Why These Numbers Matter (and Why The Yishun Flat is The Talk of the Town)
These high‑priced multi‑generation (3Gen) units aren’t just numbers – they’re a reflection of lifestyle, location, and sometimes a pinch of speculative adventure. Here’s why the market’s buzzing:
- Location,Location,LOCATION! The more central the block, the higher the price tag, and the Yishun Avenue 4 flat sits in an enviable spot.
- Views & Vibes: A well‑positioned flat offers better mood boards – that’s the heart‑catching vibe for a great resale.
- Future‑Ready: Scouts and a forward‑thinking crowd love a property that can adapt – meets the “three‑generation” concept.
- Elevated Perception: Selling price becomes a badge of honor for older residents and new buyers alike.
What This Means for Buyers & Investors
Dreaming of a legendary flat? Look beyond just the numbers: horizontal for the last floor. It’s all about aligning your lifestyle with iconic design plus a packed sense of community.
In short, if your next home is a multi‑generation starter with star‑rated views, grab it in a 2022 context – the market is welcoming such sizzling finds!
Eligibility criteria
Who Can Grab Those Old Multi‑Generation Flats?
These cozy, family‑friendly units were built before the 3Gen craze of 2013, yet they still live under the same strict eligibility rules that govern the newer releases.
The Family Angle
Because these homes are meant for extended families, the application form must include at least one parent—you can’t just bring in one tiny grandkid.
Resale Rules
When it comes to selling one, the process is a bit tougher: you must be a Singapore Citizen (SC) or Permanent Resident (SPR), and the buyer must have at least one of the same status living in the flat.
Why Selling is a Real Challenge
- They’re older and pricier than the newer models.
- The pool of eligible buyers is much smaller.
- Deals often slip away like a banana peel on a slick floor.
So, re‑selling an older, more expensive multi‑generation flat is no mean feat. If you’re poised to flip one, keep your optimism high and your negotiating skills sharp. Good luck, and may the odds be ever in your favor!
Full SPR households can buy resale multi-gen flats
What This Means For SPR Families
Got an SPR household and thinking you’re stuck in the same apartment bucket for years? Think again. If your entire crew qualifies for SPR and you’ve been around the Singapore housing boat for at least three years—including the parent—there’s a golden ticket waiting for you.
The Rules In Plain English
- No Singapore Citizen (SC) owners? No problem. Your whole household can still play the resale game.
- All SPR owners and essential occupants. Each of them must have lived under the SPR umbrella for a minimum of three years.
- Parent included. Even if the parent is just a grandkid’s teacher, they need to meet the same three‑year SPR stamp.
Said another way: a full SPR household—with a three‑year SPR track record—and a parent who’s also an SPR holder can hop into a multi‑generation resale flat.
Why This Is a Game-Changer
- Unlike the brand‑new 3‑Gen flats that pop up during BTO launches, which demand that at least one applicant be a Singapore citizen, this resale rule breaks that SC barrier.
- Extended families can finally picture a bigger collective home without waiting on BTO eligibility.
- If your family’s plans don’t involve taking a 3‑Gen BTO shot, this resale route offers a “sneak‑in” opportunity that was previously impossible.
Bottom Line
So, grip that “house‑sharing” vibe, gather your family, and remember that your SPR status can open doors you didn’t even know existed. It’s all about pulling the family together, not the country together.
No income ceiling for resale multi-gen flat (unless applying for grants)
Parent Power: How Family Help Makes Home Loans a Breeze
Ever wonder why lots of folks end up buying larger resale units rather than the fancy new 3Gen flats? One simple answer: budget limits. New 3Gen apartments come with a $21,000 household income ceiling for the first-time fancy slab. If your combined family income tops that number, you hit a brick wall.
When Parents Step In
But here’s the twist: even if you’re locked out of the 3Gen deal, you can still snag a resale unit—especially a bigger one—if you bring in a parent. The rental‑squeeze is lessening thanks to:
- Stress‑test interest rate cooling – lower rates make loans feel less brutal.
- Lower loan‑to‑value ratio – HDB now lets you borrow 80% instead of 85% of the flat’s value.
- Shared footing – when a parent co‑owns the flat, the financial load feels lighter.
Think of it like a family reunion in the living room: the parent and child share the space, and thus the mortgage. This joint ownership boosts the applicant’s affordability meter when the lender checks the numbers.
Who Gets the Sweet Spot?
Applicants who can’t pull a loan on their own might find the parent’s backing a lifesaver:
- Higher down‑payments become doable because the parent’s contribution ramps the funds up.
- Subsidies and grants often require the parent’s income as part of the application, meaning extra help becomes available.
And here’s the kicker: even if your household income, including your parents’, breaches that $21,000 ceiling, you can still qualify for a resale flat. It’s all about the partnership. The families go home together in a bigger, more comfortable setting rather than fighting over a tiny 3Gen slice.
Bottom Line
Co‑ownership with parents doesn’t just make financing smoother—it opens doors to residence options that would otherwise be closed. So if you’re looking to dive into HDB land, consider inviting your folks to the table. Their support could be the key to a comfy, joint home.
Having a parent live with them also means eligibility for the Proximity Housing Grant (and other benefits)
Multi-Generation & 3Gen Homes: Your One-Stop Grant Pipeline
Want more than just a new home? If you’re buying a multi‑generation or a 3Gen resale flat, you can tap into four awesome grants that will keep your wallet happy.
Grab These Grants:
- CPF Housing Grant (Families) – A neat boost for the whole clan.
- Enhanced CPF Housing Grant (Families) – Even more cash to smooth out the purchase.
- Step‑Up Housing Grant (Families) – For when you need that extra lift.
- Proximity Housing Grant (Families) – A special treat that saves you the hassle of buying a flat near your parents.
So picture this: you, your partner, and your parents all snug together in one tidy, modern apartment. Why search for a resale flat within 4 km when your grandparents can simply sell their HDB home and move in with you? The Proximity Grant comes for free, and you all get the other grants, too.
It’s a Win‑Win for Everyone
- Save on house hunting expenses.
- Reap all four grants simultaneously.
- Enjoy a built‑in family support system – your parents can help with childcare right at home.
I’m not kidding – this is the perfect way for young couples aiming to raise kids to secure a future where everyone takes turns babysitting, still keeping that extra pocket money for the kids’ first lego set.
Remember These Rules:
- No ownership of any local or overseas private property if you’re going for a buy‑to‑own multi‑generation or 3Gen flat.
- Adhere to the cooling measures: you must not have sold or acquired any private property in the past 15 months.
Now, just picture the joy of bouncing around your new home with all the little ones, the grandparents sharing stories, and you saving money via those grants. That’s the dream of a multi‑generation living scheme!
Analysing the price action of multi-generation HDB resale flats
What’s Happening With Multi‑Generation HDB Prices?
Ever wonder why those cosy 3‑Generation (3Gen) flats seem to be climbing faster than your favourite coffee brand? Let’s break it down in plain English.
Price Trend Snapshot (2007–Present)
The chart you’re looking at pins the average price per square foot (psf) for multi‑generation resales across Singapore. Over the last decade, these flats have gone up by about 5.26 %. That sounds modest, but it’s actually a sneak‑peek at some big market forces.
Why the Numbers Are Different
- Smaller Market: 3Gen resales are a niche market—there simply aren’t as many of them. In 2022, their average price sat around $488 psf, lower than the mainstream resale market.
- Supply & Demand: With fewer houses in the mix and stricter eligibility criteria, the supply dries up while demand stays hot.
- The 2009–2012 Spike: Prices jumped during this period likely because of the new 3Gen flats set to roll out in 2013. The announcement created buzz, giving a push to the resale prices.
What This Means for Buyers
If you’re on the hunt for a 3Gen flat, think of it like a “limited‑edition” item: they’re hot, but you’ll need to act fast to snag one before the next batch arrives.
Bottom Line
Multi‑generation HDB resale flats are on a steady climb—noticeable but not overly dramatic. The market’s tightness and the hype around upcoming launches keep the prices moving. Stay informed, and you’ll be ready to make a move before the next price tick.
Yishun’s Property Boom: A Decade of Surging Prices
Ever wondered why Yishun’s houses have been on a roller‑coaster ride? Over the last ten years, the price per square foot for been‑there‑and‑re‑sold two‑generation flats has surged by a hefty 26.31%.
So Where Does That Put Yishun?
- Yishun’s jump: 26.31 % – a true crowd‑pleaser.
- Nationwide average: a modest 5.26 % – basically a mild breeze compared to Yishun’s thunderstorm.
Why This Matters
All this growth means that if you’re looking to buy or sell in Yishun, you can expect a quicker return on your investment – or maybe even a little extra cash in your pocket. In contrast, the rest of Singapore might still be sipping slow growth.
Bottom Line
Yishun’s real‑estate market has been a rock‑solid performer, turning the city’s average into a mere shadow of its own burning success.
Why Yishun’s 3‑Gen Homes Are Turning Heads – and How Families Are Getting In on the Action
It’s pretty straightforward: the only multi‑generation accounts in Yishun come from older, old‑school units, not the brand‑new 3‑Gen designs like Saraca Breeze or Park Grove. Because those older blocks are rarer and have bigger floor areas, their price per square foot has been climbing steadily.
There’s also a growing buzz around 3‑Gen homes. Families seeing the extra space and “generation‑friendly” layout are craving these big blocks. That demand is magnifying the price trend even further.
The New Twist: “Cool‑Down” Policies and Family Planning
- Recent cooling measures have shaken up the market, pushing some buyers to rethink their original purchase plans.
- Parents who still own an older flat can decide to sell that unit. The proceeds can then finance a larger 3‑Gen home for their whole clan.
- When a parent’s sale and a child’s 3‑Gen purchase happen together, the buyers suddenly become bigger – and the pool of potential buyers for these high‑value flats grows.
Family logistics, especially when juggling finances and childcare, can be a real puzzle. A parent’s willingness to sell their old nest and help fund the new one is often the clever shortcut that makes it all possible.
Bottom Line
With the market cooling down and families looking for a bigger, smarter space, Yishun’s 3‑Gen units are dipping into the spotlight. It’s a win‑win for both seasoned homeowners and the next generation looking for a room that fits the whole family.
