- Executive Apartment in Ang Mo Kio sold for S$1.3M, setting new record.
- First million-dollar HDB resale in Bukit Batok achieved.
- Larger HDB units gaining popularity among buyers and investors.
Singapore’s HDB resale market sees record-breaking sales in Ang Mo Kio and Bukit Batok, signaling a shift in buyer preferences.
Record-Breaking HDB Resale Transactions
According to 99.co, Singapore’s HDB resale market has witnessed two significant transactions in July 2024.
An Executive Apartment in Ang Mo Kio was sold for S$1.3M, setting a new all-time high for the estate.
The flat is located at Block 611, Ang Mo Kio Avenue 5 (Yio Chu Kang Green), and measures 1,916 square feet.
This sale price translates to S$678 per square foot for the Ang Mo Kio property.
Here are some key highlights to note:
- The Ang Mo Kio flat is an adjoined unit, combining two separate flats.
- It’s the only transaction from Yio Chu Kang Green project in 2024.
- The flat is near three MRT stations: Lentor, Mayflower, and Yio Chu Kang.
Bukit Batok’s First Million-Dollar HDB Sale
99.co reported, “The first million-dollar sale, a 5-room flat located at Skyline I @ Bukit Batok, sold for S$1M, translating to S$808 psf.”
This sale marks the first million-dollar HDB resale transaction in Bukit Batok.
The 5-room flat at Skyline I @ Bukit Batok (Block 194A Bukit Batok West Ave 6) sold for exactly S$1M.
The unit measures 1,238 square feet, resulting in a per-square-foot price of S$808.
Take a look at this quick table for a clear overview:
| Location | Sale Price | Size (sq ft) | Price per sq ft |
|---|---|---|---|
| Ang Mo Kio | S$1.3M | 1,916 | S$678 |
| Bukit Batok | S$1M | 1,238 | S$808 |
Rising Trends in HDB Resale Prices
The HDB resale market has seen significant price increases over the past five years.
In Ang Mo Kio, Executive Apartments have seen a price rise of about 50% since 2019.
Five-room flats in Bukit Batok have experienced a 24.55% increase in the same period.
These trends suggest a growing demand for larger HDB units in mature estates.
Factors Driving High-Value HDB Sales
99.co stated, “One significant factor is changing family dynamics. As families grow or evolve, there is a greater need for more spacious living areas.”
The COVID-19 pandemic has increased the desire for larger homes among Singaporeans.
Proximity to amenities and transport links plays a crucial role in property values.
Larger HDB units are becoming more appealing for investment purposes.
Here are some factors contributing to high-value HDB sales:
- Changing family dynamics and need for space
- Post-pandemic lifestyle changes
- Proximity to MRT stations and amenities
- Investment potential of larger units
Impact on Singapore’s Housing Market
These record-breaking sales may encourage more sellers to list their properties.
Buyers might face increased competition for larger HDB units in mature estates.
The trend could potentially affect overall HDB resale prices in Singapore.
Housing affordability concerns may rise due to these high-value transactions.
As Singapore’s HDB resale market continues to evolve, buyers and sellers should stay informed about these changing trends and their potential impacts on the housing landscape.
