Owner of newly MOP-ed 5-room Clementi flat likely walked away with over 100% profit!

SINGAPORE: A Clementi homeowner has likely doubled their money after selling a five-room flat in Clementi Crest at Block 445B Clementi Avenue 3 for a record-breaking S$1,458,888 or S$1,199 per square foot (psf).

While record-breaking resale deals are common in this neighbourhood, the Clementi Crest flat — whose minimum occupation period (MOP) has just ended — has become the most expensive Housing & Development Board (HDB) resale in Clementi.

The flat spans 1,216 square feet (sq ft) and sits between the 25th and 27th floors of a 40-storey block, likely giving it unblocked views for the new owner.

With Clementi Crest’s lease starting in 2021, the unit also comes with 94 years and 10 months left on the lease.

Back in 2016, when the project was launched as a Build-to-Order (BTO), five-room units were priced from about S$576,000 before grants, although buyers of higher floors paid extra premiums of around S$5,000 per floor. This means a unit this high could have cost between S$696,000 and S$706,000.

With the middle range at S$701,000, the seller’s gain comes to roughly S$757,888, or more than 108% in just five years. Even after factoring in grants or renovation costs, the profit stays substantial.

According to 99.co, the unit’s price soared probably for three main reasons: the height of the building, the age of the project, and its location.

Although Clementi Cascadia is just about 700 metres away, Clementi Crest is one of the taller developments in the area, providing buyers unblocked views.

The development is also younger, which makes it more attractive. Newly MOP-ed flats often command higher prices, and with the Voluntary Early Redevelopment Scheme (VERS)—a scheme where ageing flats can be bought back and redeveloped by the government before the lease fully runs out— younger leases are seen as safer bets.

In addition, it is close to MRT stations, schools, and malls, with the Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE) just minutes away for drivers.

There are also hawker centres and markets nearby, as well as access to green spots like West Coast Park and Clementi Woods Park.

Major growth areas like the Jurong Lake District, Singapore’s upcoming second CBD, and One-north are also nearby.

Earlier this month, a high-income earner sparked debate after likening potential profits from flipping a BTO flat to winning hundreds of thousands in the lottery—a win that seemed to have played out for the Clementi flat seller. /TISG

Read also: Singapore’s HDB resale flat price growth continues to slow at 1.6% in Q1 2025