A 27-year-old three-room Housing Board flat in Upper Cross Street was sold for $382,000 last month - some $100,000 above valuation.
That same month, a 31-year-old unit at Marine Drive was sold for $350,000 - about $75,000 above valuation, according to a report in The New Paper on Tuesday. The owner had bought it for $250,000 about five years ago, and forked out another $70,000 for renovation.
The unit, with a sea-view is on the ninth floor of a 13-storey block.
The buyer, who was downgrading from a private property, bought it as her retirement home
Industry watchers said they are believed to have set a record for three-room HDB prices here, and are more expensive than many five-room flats in the market.
For comparison, a five-room flat of about 31 years old in central Toa Payoh was sold for $337,000 in November.
PropNex's chief executive Mohamed Ismail told The New Paper that these prices are even higher than those sold during the property peak in the mid-1990s.
Generally, prices of three-room flats rarely fetch more than $300,000, he said, but added that the new record-breaking prices are not a benchmark of the entire and are "an anomaly."
Last month, two five-room flats in Marine Parade were sold at record breaking prices of $750,888 and $730,000.
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