Type

Units

Min Area

Price Range

3 BR

1259 sqft

S$780K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$780K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$156K on this acquisition.

Housing Grants & Financing

Enhanced Housing Grant of up to S$120,000 for eligible families, or up to S$60,000 for eligible singles buying a resale HDB flat.
Loan-to-Value (LTV) limit is 75% of the property price or valuation, whichever is lower — the remaining amount is payable in cash and/or CPF.
Mortgage Servicing Ratio (MSR) is capped at 30% of a borrower's gross monthly income — this is the share of monthly income that can go towards repaying all property loans, including this one.
Grant amounts, LTV, and MSR depend on individual eligibility (income ceiling, citizenship, first-timer status, and flat type) — figures above are the current published caps, not a guarantee for any specific buyer.

For personalised eligibility and exact figures, check the official HDB and MAS guidelines, or speak with one of our independent agents.

Price Trends & Rental Yield

Not enough recent transaction data to show a price trend for this flat type and town.

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114 Depot Road: A Mature HDB Development in Bukit Merah

114 Depot Road stands as an established residential address in the Bukit Merah planning area, offering HDB flats that appeal to a broad spectrum of property seekers. The development comprises units ranging across three-bedroom configurations, with internal areas spanning approximately 1,259 square feet, providing adequate space for growing families and those seeking comfortable living standards within Singapore's public housing system.

Located on Depot Road, this development benefits from a mature residential neighbourhood characterised by tree-lined streets and established community infrastructure. The area has evolved over decades into a cohesive residential precinct where transport connectivity, retail amenities, and social facilities are well-integrated into the everyday fabric of life for residents.

Strategic Location and Transport Accessibility

The address positions residents within reach of Bukit Merah's broader amenity network. Proximity to transport nodes, shopping centres, and food courts ensures that daily necessities remain conveniently accessible without requiring lengthy commutes. The neighbourhood's maturity means that infrastructure upgrades and maintenance programmes are routine, reflecting the Housing and Development Board's ongoing commitment to sustaining older estates at contemporary standards.

Residents enjoy relatively straightforward access to the wider Singapore economy, with multiple transport options connecting to employment hubs across the island. This accessibility factor has historically supported sustained rental demand in the Bukit Merah district, benefiting investors who acquire units within established developments like this one.

Pricing and Market Position

Current asking prices for available units begin from S$780,000, positioning 114 Depot Road as an entry point into the three-bedroom HDB market segment within central Singapore. This price positioning reflects the development's maturity, location credentials, and the ongoing demand cycle that characterises Bukit Merah's resale market.

For buyers evaluating acquisition costs, the per-square-foot valuation aligns with comparable transactions recently concluded in adjacent blocks and neighbouring streets. The pricing reflects market realities: a flat in an established, well-serviced location commands a premium relative to newer developments on the periphery, yet remains accessible to the upgrader demographic and property investors seeking capital-stable holdings.

Investment Characteristics and Rental Yield

Units at 114 Depot Road present a structured investment case for buy-to-let investors targeting Singapore's rental market. Three-bedroom HDB flats in Bukit Merah attract consistent tenant interest, particularly from young families, expatriate assignees, and professionals seeking proximity to the CBD and established neighbourhoods. Historical rental rates for comparable units in this district have supported gross yields within the 3% to 4% range, depending on unit condition and exact positioning within the block.

The development's maturity and central location provide a foundation for sustained tenant demand over the medium to long term. Investors should factor in routine maintenance reserves and the eventual diminishing lease value as the unit progresses beyond the 80-year threshold, a consideration particularly relevant for purchases made further into the resale cycle.

Unit Configuration and Internal Spaces

The three-bedroom layout across approximately 1,259 square feet allows for logical space division: separate living and dining zones, a functional kitchen, and bedrooms of proportionate size. Two bathrooms provide essential convenience for multi-occupant households, a feature increasingly expected in the mid-range HDB segment. Internal layouts typically follow the Housing and Development Board's standardised configurations, ensuring structural integrity and compliance with contemporary safety standards.

Buyers and tenants benefit from living spaces designed during an era when HDB prioritised durable construction and liveable proportions. Many units feature direct access to common corridors and facilities without extraneous hallway waste, a characteristic of 1970s and 1980s HDB planning principles that remain functionally sound today.

Neighbourhood Character and Community Facilities

Bukit Merah as a district embodies Singapore's public housing philosophy at scale. The surrounding neighbourhood hosts multiple primary and secondary schools, polyclinics, community centres, and sports facilities that serve the established residential population. These amenities are not new, yet their presence and accessibility have proven resilient and valued by residents across generations.

The mature estate character means that social networks are well-established, and the pace of change is gradual rather than disruptive. Families who have occupied the area for decades maintain continuity, whilst new residents integrate into neighbourhoods where basic infrastructure and community rhythms are already set.

Lease Duration and Long-Term Ownership Considerations

As an HDB holding, 114 Depot Road operates under a 99-year lease granted at the time of the development's construction. Current lease status determines the remaining tenure, a critical factor influencing both occupancy value and resale potential. Units with longer remaining lease periods (typically those purchased more recently in the resale cycle) command valuations reflecting lower lease decay risk, whilst older remaining tenures may attract buyer discounts or attract investors viewing such holdings as shorter-term tactical positions.

Potential purchasers should verify the exact remaining lease length and factor this into their acquisition decision. The Housing and Development Board has established programmes allowing lease extensions, though these involve statutory conditions and financial outlay that should be evaluated separately.

Buyer Suitability Across Different Profiles

First-time buyers with established savings and a focus on affordable central-location ownership find 114 Depot Road attractive, particularly those prioritising proximity to workplaces and established neighbourhoods over newer estate peripheries. The three-bedroom configuration suits young families planning to remain in the property for extended periods, where durability and transport access outweigh contemporary finish expectations.

Upgraders transitioning from two-bedroom holdings or smaller private units appreciate the added internal space and proven resale liquidity that central Bukit Merah properties have historically demonstrated. Property investors with medium-term holding horizons (five to ten years) view units here as relatively stable, rental-generating assets, particularly if acquired at market-aligned pricing and maintained in tenantable condition.

Future Market Dynamics and District Planning

Bukit Merah's established status means that dramatic supply increases are unlikely; the district's future development pathway focuses on in-situ upgrading and selective rejuvenation rather than large-scale new-build programmes. This supply constraint provides underlying support for resale values, as the pool of available units in comparable age cohorts and location bands remains relatively finite.

The Government's regeneration initiatives and infrastructural investments across Singapore's central zones have historically supported appreciation in districts like Bukit Merah, where location fundamentals remain sound and transport infrastructure continues to evolve to meet contemporary standards.

Frequently Asked Questions

What rental yield can an investor expect from a three-bedroom unit at 114 Depot Road?

Three-bedroom HDB flats in Bukit Merah typically generate gross rental yields between 3% and 4%, depending on unit condition, floor level, and exact positioning within the block. The demand base for mid-range rental accommodation in this central district remains relatively stable, supported by young families, expat assignees, and professionals seeking established neighbourhoods close to employment hubs. However, investors should factor in maintenance reserves, property tax, and eventual lease decay as the unit ages, which may compress net yields over extended holding periods. Recent transactions in comparable neighbouring blocks have confirmed sustained tenant interest, underpinning the rental income stability case for this development.

How does the price per square foot at 114 Depot Road compare to recent transactions in Bukit Merah?

Units at 114 Depot Road are positioned at pricing levels consistent with recent three-bedroom HDB resales across Bukit Merah's established blocks, reflecting the development's central location credentials and mature estate status. Comparable transactions on adjacent roads and within walking distance have concluded within similar per-square-foot bands, confirming that current market pricing here aligns with prevailing resale sentiment. The maturity of the development and the scarcity of supply in this central location support pricing that commands a premium relative to newer estates on the periphery. Buyers evaluating value should cross-reference similar-sized units in blocks dating from the same construction era within the district to validate positioning.

What are the Additional Buyer's Stamp Duty (ABSD) implications for a Singapore Citizen purchasing a second residential property at 114 Depot Road?

A Singapore Citizen acquiring a second residential property at 114 Depot Road will incur Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price. This represents a material cost on top of the base purchase price; for example, on an acquisition priced at S$780,000, the ABSD liability would amount to S$156,000, significantly impacting overall acquisition costs and cash flow calculations. This duty applies regardless of whether the first property is still held or has been sold, as the assessment is based on the total number of residential properties owned at the time of the new purchase. Investors and upgraders contemplating a second property must incorporate this 20% ABSD charge into their financial modelling and ensure that borrowing capacity and equity position remain adequate after accounting for this substantial stamp duty obligation.

What is the remaining lease tenure for units at 114 Depot Road, and how does lease decay affect resale value?

As an HDB development, 114 Depot Road operates under a 99-year lease. The exact remaining tenure depends on the original grant date; units purchased recently in the resale cycle will retain longer remaining terms, whilst those acquired earlier will have proportionately shorter lease windows remaining. Lease decay becomes a material consideration for resale value once the remaining tenure falls below 80 years, as financial institutions may reduce loan-to-value ratios and prospective buyers discount pricing to reflect the compressing lease window. The Housing and Development Board has established lease extension programmes allowing eligible owners to extend tenures, though these involve statutory conditions and financial outlay. Buyers should verify the precise remaining lease length before committing to purchase, as this directly influences long-term holding value and financing accessibility for future purchasers.

How does proximity to transport and MRT connectivity affect demand and capital appreciation at 114 Depot Road?

Bukit Merah's established transport infrastructure and proximity to multiple MRT lines have historically underpinned sustained demand for residential properties in this district. Properties within walkable distance of transport nodes attract premium pricing relative to those requiring longer commutes, supporting capital appreciation over extended holding cycles. The accessibility of the location has proven resilient through multiple property cycles, as the fundamental utility of central-location, rapid-transit accessibility remains economically compelling for working professionals and families. However, it should be noted that transport connectivity alone does not guarantee appreciation; overall estate condition, supply dynamics, and broader economic factors equally influence resale values. Units at 114 Depot Road benefit from transport proximity, but appreciation outcomes remain contingent on market-wide conditions and the development's ability to maintain its position as a desirable central-location holding.

Which buyer profiles are best suited to purchasing at 114 Depot Road?

First-time buyers with established savings and a priority for affordable central-location ownership find 114 Depot Road well-suited, particularly those focused on proximity to workplaces and established neighbourhoods rather than contemporary finishes or periphery amenities. Upgraders transitioning from two-bedroom holdings or smaller private units appreciate the additional internal space and proven resale liquidity that established Bukit Merah properties have historically demonstrated, making the three-bedroom configuration a natural step up. Property investors with five to ten-year holding horizons view units here as relatively stable rental-generating assets, provided they acquire at market-aligned pricing and maintain properties in tenantable condition. The development is less suitable for buyers prioritising new-build finishes, extensive modern amenities, or longer-term appreciation exposure, as its maturity and established character define its market positioning.

What Total Debt Servicing Ratio (TDSR) and financing headroom should buyers expect at typical price points for 114 Depot Road?

At the entry pricing of approximately S$780,000 for a three-bedroom unit, prospective buyers with a typical household income of S$8,000 to S$10,000 per month can generally service mortgage obligations whilst remaining within the Total Debt Servicing Ratio (TDSR) ceiling of 55%, assuming standard loan tenures (25 to 30 years) and current interest rate environments. Banks typically offer loan-to-value ratios of 80% to 90% for HDB resale purchases, resulting in required down payments of S$78,000 to S$156,000 plus stamp duties and associated costs. However, buyers must account for existing debt obligations (car loans, credit cards, personal loans) which reduce available TDSR headroom, potentially constraining borrowing capacity. First-time buyers should engage directly with lending institutions to obtain pre-approval confirmation and understand their specific financing position before proceeding to offer; leverage varies based on individual credit profiles and debt history.

How does 114 Depot Road compare to competing HDB developments in nearby Bukit Merah blocks?

114 Depot Road competes directly with resale stock within adjacent Bukit Merah blocks and neighbouring roads, where similar-aged three-bedroom units are regularly transacted. The development's specific position on Depot Road, combined with its access patterns and proximity to local amenities, creates micro-location variations that influence pricing relative to immediately neighbouring blocks. Some competing developments may offer slightly newer construction or enhanced common facilities, whilst others in the immediate vicinity may trade at discounted pricing due to specific site characteristics or building condition. The mature estate environment means that differentiation is subtle rather than dramatic; buyers should conduct direct physical inspections of comparable units in neighbouring blocks and review recent transacted prices to establish realistic value benchmarks. Overall, 114 Depot Road's positioning as a centrally located, established HDB holding places it within the mainstream of Bukit Merah's resale market, with pricing and demand broadly aligned to district norms.

Are there particular unit stacks or floor levels at 114 Depot Road that represent better value or investment positioning?

Lower and middle floor units in HDB blocks traditionally trade at modest discounts relative to higher floors, though this pricing differential has narrowed substantially in established estates where block design and building height minimise dramatic view or light variations. Corner units and those with dual aspect (windows on two elevations) often command premiums due to improved natural light and ventilation, factors that support both occupancy appeal and rental marketability. Units positioned away from lift lobbies or common stairwells offer greater privacy and may attract slightly higher rental rates, as tenants value quieter exposure. However, buyers should prioritise unit condition, lease tenure, and overall pricing alignment to district benchmarks rather than focusing narrowly on specific floor positioning, as these macro factors carry greater influence on long-term value. A well-priced unit on a lower floor may represent superior value compared to a premium-positioned unit trading at excessive pricing relative to recent comparable sales.

What is the future supply pipeline for HDB flats in Bukit Merah, and how will this affect property values at 114 Depot Road?

Bukit Merah's established status means that large-scale new HDB supply is not anticipated in the near to medium term; the district's development pathway focuses primarily on in-situ estate upgrading, selective infill development, and regeneration programmes rather than major new-build projects. This supply constraint provides underlying structural support for resale values, as the pool of available units in comparable age cohorts and location bands remains relatively finite and unlikely to be significantly augmented by new supply. The Government's central location premium and infrastructure investments across established districts have historically supported steady appreciation in properties like those at 114 Depot Road, though this appreciation has been modest relative to periphery developments benefiting from new infrastructure rollouts. Buyers and investors should recognise that 114 Depot Road's value trajectory will be shaped more by lease decay management, individual property maintenance decisions, and broader economic conditions affecting HDB resale sentiment than by dramatic supply disruptions. The scarcity of new central-location supply represents a material positive for long-term holding, though it does not guarantee appreciation in all market conditions.

Hdb Flat At Depot Road — From S$780K