Flat is most expensive 4-roomer in Clementi, has almost 95 years of lease left
A four-room flat in Clementi has become the most expensive of its kind in the estate after being sold for a stunning S$1.28 million.
It’s the second four-roomer in Clementi to have crossed the S$1.2 million mark this month, according to property portal 99.co.
Source: Google Maps
Clementi flat sold for about S$1,278 psf
The latest entry in the ranks of record-breaking flats is located in Block 445B Clementi Avenue 3, according to HDB resale flat records.
It’s located on the 34th to 36th floor of a block whose residents obtained their Temporary Occupation Permit (TOP) in 2021, meaning it has a remaining lease term of 94 years and 11 months.
Source: HDB
As the flat is a four-room apartment, it has a floor area of 93 square metres (sqm), or approximately 1,001 square feet (sq ft).
That works out to a per-square-foot (psf) price of about S$1,278 psf.
Flat part of Clementi Crest
The flat is part of the Clementi Crest Build-To-Order (BTO) project, which comprises just two blocks of 385 units and up to 40 floors each.
Source: Google Maps
Thus, the flat in question is located on a high floor and should have an unblocked view of the surrounding area, possibly driving up its price.
The development is relatively new, with its Minimum Occupation Period ending just recently.
The remaining lease period would make it quite attractive for buyers looking for a long-term home.
Block is near MRT station, market & childcare centres
Besides its high floor and lengthy lease, the flat is also attractive due to its location in Clementi Central.
According to HDB, the block is just 197m away from Clementi MRT station, which will be an upcoming interchange with the Cross Island Line.
It’s also just 59m away from the sprawling Clementi 448 Market & Food Centre and a short walk farther from a FairPrice supermarket.
Source: Google Maps
Better yet for young families, there are no fewer than six childcare centres and one kindergarten within about 400m of the block.
Clementi Mall is also a stone’s throw away from the development.
Most expensive 4-roomer in Clementi just S$73K cheaper than another flat in adjacent block
The sale of the flat in Block 445B, which closed this month, made it the most expensive four-room flat in Clementi.
It beat out another flat in adjacent Block 445A, which was sold in the same month for S$1,206,888 — just about S$73,000 cheaper.
Source: HDB
However, the unit in Block 445A may also be located in Clementi Crest, but it is situated on a lower floor (22nd to 24th), which could account for the disparity.
Notably, in June, a five-room flat in Block 440C Clementi Avenue 3 — Clementi Cascadia — changed hands for S$1.3 million, just S$20,000 more than the flat in Block 445B.
Seller could have made S$802K profit
The record-breaking sale possibly greatly benefited the seller.
The flat’s original price may have started from about S$478,000 excluding grants, according to 99.co.
That means the seller could have made a profit of about S$802,000 — an increase of about 167.78% from the initial outlay.
Also read: 5-room Queenstown flat sold for S$1.66M, becomes S’pore’s priciest resale HDB on record
5-room Queenstown flat sold for S$1.66M, becomes S’pore’s priciest resale HDB on record
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Featured image adapted from Google Maps.
