SINGAPORE: Yet another Housing Development Board (HDB) flat has been resold for a record-breaking $1 million, this time. This is the first time a resale flat in Sengkang has reached this price, reflecting a growing demand for spacious homes in prime locations.
The record-setting flat is an Executive Maisonette located on the seventh to ninth floors of Block 205B, Compassvale Lane. According to HDB’s website, the unit measures 1,539 square feet and has 74 years remaining on its lease.
This two-storey layout, which offers ample space, is one of the key features attracting high-end buyers in Singapore’s competitive housing market.
The transaction was handled by SRI Homes. Mohan Sandrasegeran, head of research and data analysis at SRI, commented on the deal, highlighting that this Executive Maisonette shares many of the same characteristics as other million-dollar HDB flats.
He pointed out that the unit offers a spacious layout, which is becoming increasingly sought after, and it’s conveniently located near major transportation hubs and shopping centers.
The flat’s proximity to Buangkok MRT Station, just a short walk away, adds to its value. Accessibility to public transportation has always been a key factor in determining property prices in Singapore, making this unit an attractive option for families and professionals who prioritize convenience.
Beyond transportation, the area around Block 205B, Compassvale Lane, is rich in amenities. Shopping hubs and various educational institutions are located within close range, providing a well-rounded lifestyle for residents. This prime location is a significant factor contributing to the high resale value of the flat.
Real estate experts suggest that the demand for spacious and conveniently located HDB flats will likely continue to rise, driving prices even higher. This record-breaking sale could signal a new trend in the Sengkang area, where property values are expected to appreciate further due to the combination of location, size, and accessibility.
As Singapore’s property market continues to evolve, all eyes are on Sengkang to see how this record sale will influence future transactions and whether it will encourage more homeowners to consider selling their properties at premium prices.