SINGAPORE: A five-room flat at Skyoasis @ Dawson, located on Margaret Drive, has set a new record in the HDB resale market with a sale price of $1.73 million.
The transaction, which took place on June 26, involved a 1,195 sq ft unit, equating to approximately $1,444 per square foot (psf).
This latest sale surpasses the previous record set just last month when a 1,236 sq ft, five-room unit at City Vue @ Henderson was sold for $1.588 million, or $1,285 psf.
Another notable transaction occurred in April when a five-room flat at Tiong Bahru View, located at 9B Boon Tiong Road, fetched $1.588 million at $1,317 psf.
According to a press release by ERA Realty on July 22, the record-breaking sale was managed by Faith Wong, a senior marketing director at the real estate agency.
Ms Wong disclosed that the Skyoasis @ Dawson unit, a corner flat on the 45th floor, belonged to a local family. It was on the market for less than a month before selling for $1,725,888, slightly below its initial asking price of $1.838 million.
The sale concluded after competing bids from two sets of motivated buyers. The new owners, a family with young children, were attracted to the unit’s spacious layout, modern amenities, and prime location.
Ms Wong remarked, “For a private property in this area of this size and age, you would typically expect to pay around $3 million.”
The Skyoasis @ Dawson flat, completed in 2021, is only 3.5 years old and has 96 years remaining on its 99-year lease.
As a replacement flat under the Selective En bloc Redevelopment Scheme (SERS), the owners were permitted to sell after seven years from registration or five years from the key collection, whichever came first, explained Eugene Lim, key executive officer at ERA.
This is in contrast to new Build-to-Order (BTO) units, which typically require a mandatory occupancy period of five years from the key collection before they can be sold on the secondary market.
Skyoasis @ Dawson is a notable estate in District 3, consisting of 1,192 units spread across six residential blocks, each ranging from 26 to 45 storeys.
It offers a mix of two- to five-room flats and is conveniently located within walking distance of Queenstown MRT on the East-West Line and adjacent to Queenstown Primary School on Margaret Drive.
The latest million-dollar flat resale highlights the ongoing demand and high valuation in Singapore’s HDB resale market, particularly for well-located, modern flats with ample amenities. /TISG