First 3-room flat in Sembawang sells above S$900 psf, beating average 5-room prices in the same month

SINGAPORE: A three-room flat at 131A Canberra Crescent in Sembawang has been sold for a record S$673,000, or about S$919 per square foot (psf), making it the first three-room flat in the town to sell above S$900 psf, pricing typically seen in smaller flat types like two-room units.

The sale also exceeded the average transaction value of five-room flats in the town during the same month.

The unit is on a high floor in the 12-storey EastLink I @ Canberra project and comes with about 93 years and 10 months of lease left.

The 600-unit development was launched under the May 2015 Build-To-Order (BTO) exercise and offers two-, three- and four-room flats. The development and the nearby EastLink II are within walking distance from Canberra MRT station on the North–South Line (NSL), which is directly linked to Canberra Plaza, a New Generation Neighbourhood Centre.

The development is also within a one-kilometre radius of Ahmad Ibrahim Primary School and Chongfu School.

According to property portal 99.co, if launched today, the project would likely fall under the Plus model due to its proximity to main transport and amenities.

The record sale is around 30% higher than the average price of three-room flats in Sembawang, which currently stands at about S$719 psf. 

Since January, three-room flats in the town have been on an upward trend, rising more than 5% on a psf basis. /TISG

Read also: Toa Payoh four-room HDB flat sold for record S$1.32M

Featured image by Depositphotos (for illustration purposes only)