Million-dollar 3-room flat in next bull run

Who buys pricey 3-room HDB flats?

Most 3-room HDB flats sell around $500k

Property prices outlook

Previous property bubbles

Does sentiment affect flat prices?

At least four three-room resale Housing Board flats were sold for between $900,000 and $935,000 in the first 11 months of 2025. What’s driving these eye-watering prices for smaller units, and how does this affect buyers who see three-room units as an accessible way to own a first home? 

Synopsis: Join Natasha Ann Zachariah at The Usual Place every Thursday as she unpacks the latest current affairs with guests.

In this episode of The Usual Place, host Natasha Ann Zachariah speaks with Mr Nicholas Mak, chief research officer at property portal Mogul.sg, and Mr Patrick Chee, property agent and founder of real estate portal Homeseller SG.

Highlights (click/tap above):

1:49 Million-dollar 3-room HDB flat to happen “in the next ‘bull run”: Patrick Chee

6:13 Who buys pricey 3-room HDB flats? 

8:34 Majority of 3-room HDB flat are still transacted in the range of $500,000

15:14 Property prices outlook

21:36 Previous property bubbles 

30:32 Does sentiment play a role in flat prices

Follow The Usual Place podcast on IG: https://www.instagram.com/theusualplacepodcast

Follow Natasha on LinkedIn: https://str.sg/v6DN

Filmed by: Studio+65

Edited by: Teo Tong Kai, Eden Soh and Chen Junyi

Executive producers: Danson Cheong, Elizabeth Khor & Ernest Luis

Editorial producer: Lynda Hong

Follow The Usual Place Podcast and get notified for new episode drops every Thursday:

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YouTube: https://str.sg/theusualplacepodcast

Feedback to: podcast@sph.com.sg

SPH Awedio app: https://www.awedio.sg

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At least four three-room resale Housing Board flats were sold for between $900,000 and $935,000 in the first 11 months of 2025.&nbsp;What&rsquo;s driving these eye-watering prices for smaller units, and how does this affect buyers who see three-room units as an accessible way to own a first home?&nbsp;
Synopsis: Join Natasha Ann Zachariah at The Usual Place every Thursday as she unpacks the latest current affairs with guests.
In this episode of The Usual Place, host Natasha Ann Zachariah speaks with Mr Nicholas Mak, chief research officer at property portal Mogul.sg, and Mr Patrick Chee, property agent and founder of real estate portal Homeseller SG.
Highlights (click/tap above):
1:49 Million-dollar 3-room HDB flat to happen &ldquo;in the next &lsquo;bull run&rdquo;: Patrick Chee
6:13 Who buys pricey 3-room HDB flats?&nbsp;
8:34 Majority of 3-room HDB flat are still transacted in the range of $500,000
15:14 Property prices outlook
21:36 Previous property bubbles&nbsp;
30:32 Does sentiment play a role in flat prices
Follow The Usual Place podcast on IG:&nbsp;<a href="https://www.instagram.com/theusualplacepodcast">https://www.instagram.com/theusualplacepodcast</a>
Follow Natasha on LinkedIn:&nbsp;<a href="https://str.sg/v6DN">https://str.sg/v6DN</a>
Filmed by: Studio+65
Edited by: Teo Tong Kai, Eden Soh and Chen Junyi
Executive producers: Danson Cheong, Elizabeth Khor &amp; Ernest Luis
Editorial producer: Lynda Hong
Follow The Usual Place Podcast and get notified for new episode drops every Thursday:
Channel: <a href="https://str.sg/5nfm?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/5nfm?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/5nfm</a>
Apple Podcasts: <a href="https://str.sg/9ijX?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/9ijX?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/9ijX</a>
Spotify: <a href="https://str.sg/cd2P?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/cd2P?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/cd2P</a>
YouTube: <a href="https://str.sg/theusualplacepodcast?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/theusualplacepodcast?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/theusualplacepodcast</a>
Feedback to: <a href="mailto:podcast@sph.com.sg?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="mailto:podcast@sph.com.sg?ref=inline-article" aria-label="link" data-testid="custom-link">podcast@sph.com.sg</a>
SPH Awedio app: <a href="https://www.awedio.sg/?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://www.awedio.sg/?ref=inline-article" aria-label="link" data-testid="custom-link">https://www.awedio.sg</a>
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Follow more ST podcast channels:
All-in-one ST Podcasts channel: <a href="https://str.sg/wvz7?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/wvz7?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/wvz7</a>
Get more updates: <a href="http://str.sg/stpodcasts?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="http://str.sg/stpodcasts?ref=inline-article" aria-label="link" data-testid="custom-link">http://str.sg/stpodcasts</a>
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Get The Straits Times app, which has a dedicated podcast player section:
The App Store: <a href="https://str.sg/icyB?ref=inline-article" aria-label="link" data-testid="custom-link"></a><a href="https://str.sg/icyB?ref=inline-article" aria-label="link" data-testid="custom-link">https://str.sg/icyB</a>
Google Play: <a href="https://str.sg/icyX">https://str.sg/icyX</a>
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#tup #tuptr

Natasha and her guests unpack the latest current affairs, every Thursday.

Synopsis: Join host and correspondent Natasha Ann Zachariah every Thursday live at noon, as she unpacks the latest current affairs with guests. 

Podcaster: Natasha Ann Zachariah

Executive producers: Danson Cheong, Elizabeth Khor & Ernest Luis

Editorial producer: Lynda Hong

A podcast by The Straits Times, SPH Media

Synopsis: Join host and correspondent Natasha Ann Zachariah every Thursday live at noon, as she unpacks the latest current affairs with guests.&nbsp;
Podcaster: Natasha Ann Zachariah
Executive producers: Danson Cheong, Elizabeth Khor &amp; Ernest Luis
Editorial producer: Lynda Hong
A podcast by The Straits Times, SPH Media

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