Soaring above market expectations, a Bidadari homeowner recently secured a substantial profit margin of approximately $600,000 through the sale of a three-room flat at Alkaff Lakeview, which fetched an impressive $900,000 in the current robust resale market. This transaction exemplifies the remarkable appreciation of property values in the Bidadari estate, where resale prices have climbed 9.6% in 2024, considerably outpacing the previous year’s 4.9% increase.
The transaction, while notable, is not isolated in the Bidadari landscape; another record-breaking sale involved a four-room flat at the same development, commanding $1,258,888 and generating nearly $800,000 in profit for its owner. These figures represent substantial returns on investment, considering that initial BTO prices in 2015 ranged from $297,000 to $550,000 for units in this development. The record-setting flat is located between the 10th and 12th storeys of Block 118A, Alkaff Crescent Road.
Market analysis indicates that four-room HDB units in Bidadari typically transact between $937,500 and $1.17 million, effectively doubling their launch prices and setting unprecedented benchmarks in the public housing sector. The most expensive three-room flat sale reached approximately $1,178 per square foot, considerably exceeding the average resale price of $560 to $580 per square foot typically observed in comparable developments. The previous record price for a three-room flat was $860,000 in Tiong Bahru.
The Bidadari estate, characterized by industry professionals as a “tranquil urban oasis,” derives its premium valuation from strategic urban planning elements, including proximity to Woodleigh MRT station and prestigious educational institutions such as Cedar Girls’ Secondary School.
Additional value drivers include the newly developed Bidadari Park and surrounding commercial infrastructure, which collectively enhance residential appeal and justify the premium pricing structure. Prospective buyers should be aware of the Ethnic Integration Policy when considering these high-value properties, as it may affect eligibility for specific units based on neighborhood demographic quotas.
Demographic trends reveal an increasing cohort of buyers aged over 55 downsizing to smaller units, thereby intensifying demand for three-room flats and contributing to price inflation in this segment.
Market projections suggest three-room flats in prime locations like Bidadari may eventually exceed the $1 million threshold, a scenario previously considered improbable for units of this size category.
