SINGAPORE: A large Housing and Development Board (HDB) executive flat at Bendemeer Road sold for a record S$1.318 million last month,
The 1,572 square foot flat still has 69 years and 4 months remaining on its lease, which real estate company 99.co called “pretty reasonable” for an executive apartment.
The property company added on Sept 4 (Wednesday) that, at the moment, not only is it the most expensive executive apartment in the Kallang-Whampoa estate, but it is also the highest transaction there to date.
The HDB executive flat is located on the 19th to 21st floor of Block 46 Bendemeer Road. It has a size of 1,572 square feet, which means it sold for S$838 per square foot (psf).
99.co added that because the unit perhaps fetched the record-breaking price tag thanks to the fact that it is located on a high floor and has a roomy layout.
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There’s been a spate of executive apartments fetching record high prices of late, with a transaction at Ang Mo Kio for S$1.32 million, another deal worth S$1.005 million in Sengkang, a Toa Payoh unit changing hands for S$1.2 million, and an HDB maisonette in Bukit Panjang selling for S$1.098 million.
The desirability of its location may have played a big role in the high price of the Bendemeer Road flat. The executive apartment is an easy walk from both Boon Keng MRT and Geylang Bahru MRT stations, as well as a quick drive from Potong Pasir MRT station via Serangoon Road.
Conveniently, a number of malls are also nearby, such as Aperia Mall, Zhongshan Mall, City Square Mall, and Kallang Wave Mall.
Also close by are Geylang Bahru Market and Food Centre and Bendemeer Market and Food Centre.
For families, the location of the executive flat is also a plus. Kallang Riverside Park and the Singapore Sports Hub are close at hand, as are numerous schools and childcare centres. These include Charis Montessori @ Elim, Little Footprints Preschool @ Boon Keng, Hong Wen School, St. Andrew’s Junior School, Canosa Catholic Primary School, and Cedar Primary School.
99.co said that while one fewer HDB executive flat has been sold at the Kallang-Whampoa estate this year, the average price increased to S$1,070,143 (S$695 psf) . /TISG