5-room HDB flat shatters Singapore real estate record

The deal sold for a record SGD960,000 (USD717,400)

The deal sold for a record SGD960,000 (USD717,400)

SINGAPORE — According to Housing Board data, a five-room HDB resale flat at Block 425 Clementi Avenue 1 was sold for a record SGD960,000 (USD717,400) this month, which translates to about SGD769 (USD575) per sqft.

Located next to Nan Hua High and NUS High School, the approximately 1,259 sqft HDB flat is located between the 28th and 30th floors of the HDB block, which forms part of the Casa Clementi precinct, an acclaimed public housing project.

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But there is a small catch: the flat is not within walking distance of Clementi MRT station.

The sale set a new record for five-room flats in Clementi, and is tied with the October 2013 transaction of an executive maisonette at Block 206 Clementi Avenue 6, which sold for SGD960,000, but for a lower SGD571 (USD427) price per sqft.

Prior to this, the most expensive five-room flats in the area were sold in August and November last year. The two units at Block 114 Clementi Street 13 changed hands for SGD888,000 (USD664,000) each.

This also surpasses the recent sale of a five-room flat in nearby Redhill, which was sold in May for SGD950,000 (USD710,000). Another five-roomer at Kim Tian Road in Tiong Bahru was transacted for the same amount in October 2015.


Source : http://www.property-report.com/5-room-hdb-flat-ties-singapore-real-estate-record/

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