As Singapore’s resale residential property market heats up, more HDB flats are selling for S$1 million and above.
While many of them are located in mature estates like Ang Mo Kio, the relatively young estate of Punggol has seen its first million-dollar transaction.
The rare loft unit sold for the princely sum of almost S$1.2 million.
Source: 99.co by way of Now Homes
One of the features that would’ve attracted buyers is its floor-to-ceiling windows.
The million-dollar flat is located in Punggol Sapphire, a cluster of HDB blocks along Punggol Field, reported The Straits Times (ST).
The five-room flat is on the 16th floor — the top floor — so one doesn’t have to worry about noisy neighbours upstairs.
It’s also spacious, with three bedrooms and a study room in a loft layout with two floors — a total of 1,603 sqaure feet (sq ft).
At a price of S$1.198 million, that makes it about S$747 per sq ft (psf). Its cash over valuation was close to S$200,000.
Source: Google Maps
Another selling point: the home’s floor-to-ceiling windows that let in natural light in the daytime.
Location-wise, its a short walk from Soo Teck LRT station and a slightly longer trek to Waterway Point mall.
Though the Punggol flat is 10 years old, it’s a “rare find”, said Ms Yuna Lim from Singapore Estate Agency (SEA) , the real estate agent who clinched the deal.
That’s because there are only 23 five-room loft units in Punggol Sapphire, she told ST.
In the nearby Treelodge@Punggol, there are just 14 of such units, she added.
No wonder the flat was sold just two days after it was opened for viewing.
Ms Lim told 99.c0 that the original asking price was S$1.22 million.
While a flat in Punggol has broken the S$1 million mark for the first time, another flat came close in December last year.
Then, a five-room loft unit in Treelodge@Punggol sold for S$970,000, ST reported at the time.
In June 2021, a 49-year-old HDB terrace house in Whampoa sold for S$1.268 million, becoming the most expensive HDB resale unit in history.
In February this year, a 30-year-old jumbo flat in Yishun made headlines when it went for S$1.038 million.
While the previous transactions involved flats in older estates, the latest sale is notable as Punggol is a newer estate in a less central location.
Ms Lim said million-dollar flats “make up a small portion” of overall transactions of HDB flats.
However, such deals inevitably tend to attract lots of attention, considering how HDB flats are supposed to be attainable for all Singaporeans.
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Featured image adapted from Google Maps.
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