A five-room flat in Sengkang has recently changed hands for S$928,000, matching the all-time record price for a 5-room HDB resale flat in the estate.
The 1,206 square feet (sq ft) flat is in a block standing directly across Compass One shopping centre and the adjacent Sengkang MRT Station.
Source: Google Maps
Also nearby is the popular Nan Chiau Primary School, which moved from River Valley in the early 2000s.
According to property website 99.co, the five-room flat is somewhere around the 10th and 12th floor of 216C Compassvale Drive.
The 1,206 sq ft home was recently sold for S$928,000, which works out to about S$770 per sq ft.
Source: 99.co
Part of the Compassvale Mast BTO that launched for sale in Nov 2012, the unit’s original price ranged between S$421,000 and S$499,000.
Additionally, the flat’s lease commenced in 2017, which means that the owners only recently completed the five-year Minimum Occupation Period (MOP).
Therefore, this means that the owners likely pocketed between S$429,000 and S$507,000 after holding the flat for just five years.
What perhaps contributed to the flat’s high transaction price is its convenient location opposite Sengkang MRT Station and Compass One shopping centre.
It’s also a five-minute drive away from Nan Chiau Primary School, a ‘popular’ primary school which moved to Sengkang in 2001.
The transaction price of the recently-sold flat matches the record price of a five-room HDB flat in Sengkang.
The record price was apparently set in Nov 2022 by a nearby flat at Block 216A Compassvale Drive, claimed 99.c0.
Both flats are part of the Compassvale Mast BTO with leases that started in 2017.
The flat sold last year, however, was located on the 16th to 18th floors.
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Featured image adapted from Google Maps.
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