2023 proved to be a significant year for HDB sales, with a record 54 units sold for at least S$1 million in August alone.
In the estate of Ang Mo Kio, a four-room flat recently went for S$1 million, setting a new record for apartments of its kind in the estate.
The flat is located within Cheng San Court, which also houses many other four-room units that sold for just under S$1 million.
The HDB unit offers good views, as well as convenient access to public transport and nearby amenities.
According to HDB’s resale portal, the four-room flat is located between the 31st and 33rd storey of Block 591A, Ang Mo Kio Street 51.
The flat, which had 94 years and four months left on its lease, was sold in Oct 2023. HDB did not state the exact date of the transaction.
Source: Google Maps
Property website 99.co reported that it is the first four-room HDB in Ang Mo Kio to break the S$1 million barrier.
Several four-room units in the estate previously sold for just below the seven-figure price. Two flats in March 2023 went for S$990,000 while another two in May sold for S$980,000.
Interestingly, the four units shared several similarities with the one that recently broke the S$1 million barrier.
Firstly, all five apartments are located in Block 591A, one of the 16 HDB blocks that make up Cheng San Court.
Source: BTOHQ
The units were also located on relatively high floors, providing for good views. The lowest of the five units was on the 25th floor.
Convenience could be another factor that justified the flats’ high prices. Cheng San Court is, after all, about 500m away from Ang Mo Kio MRT Station
The development will also share decent proximity with the future Tavistock and Teck Ghee MRT stations when the Cross Island Line eventually opens.
As another boon, residents can easily access supermarkets or go shopping at AMK Hub or Djitsun Mall nearby.
Source: 99.co
99.co also mentioned a noticeable climb in the average price per square foot (psf) of four-room flats in Ang Mo Kio.
The average price psf stood at S$451 in 2020 but increased to S$642 by 2023.
Source: 99.co
The data apparently indicated that buyers were willing to spend more for more spacious units.
The site also noted a slight decrease in total transactions from 2020 to 2023, perhaps indicating a “stabilisation” in the property market.
While the AMK flat hit the S$1 million milestone, the record for most expensive four-room flat remains a 50-year-old flat in Tiong Bahru, which went for S$1.5 million.
The unit’s size likely played a part — it is substantially bigger than the average four-room.
Source: Knight Frank via EdgeProp
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Featured image adapted from Google Maps.
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