Sengkang records first million-dollar HDB flat after sale of executive maisonette in April

Sengkang records first million-dollar HDB flat sale

Following the sale of a double-storey executive maisonette in April, Sengkang recorded its first-ever S$1 million HDB flat.

It surpasses the estate’s previous record-breaking S$968,000 sale earlier in March.

Sengkang HDB flat sold for almost S$1 million, all-time high resale price in area

The flat, which is strategically located near several prime amenities, has a remaining lease of 74 years and one month.

Million-dollar Sengkang flat cost S$650 per square foot

According to the Housing & Development Board (HDB) website, the 143 sqm maisonette is located between the seventh and ninth floors of Block 205B Compassvale Lane.

Source: Google Maps

With its selling price of exactly S$1 million, the flat fetches a pricey rate of S$650 per square foot.

Mr Mohan Sandrasegeran, Head of Research & Data Analytics at Singapore Realtors Inc (SRI) said in a media release that the sale is a key milestone for Sengkang.

Since the first quarter of 2022, data showed the estate’s resale transactions inching consistently upwards to the million-dollar mark.

He added that the demand for bigger flats among “a specific niche of buyers who prioritise ample living space” is a crucial driver behind million-dollar HDB resale transactions.

In particular, such executive flats are perceived to be rare as HDB stopped building them since 1995. Their scarcity thus also explains their exorbitant resale prices.

Located near key services & amenities

Apart from its spacious layout, the maisonette is in close proximity to a number of services and amenities, further adding to its appeal.

The closest train stations are the Ranggung LRT station and Buangkok MRT station, both of which are within a walking distance of 500m from the block.

Source: Google Maps

The nearby Sengkang Grand Mall — which opened in 2023 and houses more than 90 stores — also offers residents plenty of food and shopping options.

Source: CapitaLand

Several schools such as Seng Kang Primary School and North Vista Secondary School are within a 1 to 2km radius, making them accessible for families with school-going children.

Noting Sengkang’s impressive transformation over the years, Mr Mohan said:

These enhancements not only meet the daily needs of the residents but also substantially improve the quality of life in the area.

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Featured image adapted from Google Maps

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