4-room resale flat sells for a million dollars in record deal

SINGAPORE: A four-room Housing and Development Board (HDB) flat located at Ang Mo Kio Street 51 has been resold for a whopping $1 million. This marks the first time a four-bedroom HDB unit in Ang Mo Kio has reached a million-dollar price point.

The transaction was reported to have taken place last month, as per information available on the HDB website.

According to real estate portal 99.co, the flat is situated between the 31st to 33rd floors of Block 591A, Ang Mo Kio Street 51, and boasts an area of 93 square meters. This HDB unit is under a 99-year lease and is less than six years old, making it a relatively new property that was likely sold after the first owner completed their minimum occupancy period.

It’s worth noting that this isn’t the first high-value transaction in the building, as earlier this year, in January, another four-bedroom unit in the same HDB complex was resold for approximately $960,000.

Presently, 20 units are available for sale within the same block, with the lowest asking price starting at $870,000, showcasing a rising trend in property values in the area.

According to data released by 99.co and SRX for HDB resale transactions in September, the median resale price for a four-room HDB flat in Ang Mo Kio stands at $520,000. Furthermore, the median resale price for all housing types in the area hovers around $500,000.

A notable observation from the data is the difference in resale prices based on the age of the HDB flats. A four-room HDB flat in Ang Mo Kio that is less than 20 years old commands a median resale price of $945,000, while those over 20 years old have a lower median resale price of $514,000.