- A 5-room HDB flat in Serangoon sold for S$1.03 million, marking a milestone for the area.
- The unit is located at Block 420 Serangoon Central, spanning 123 square metres.
- The sale reflects rising HDB resale prices in Singapore, especially for larger units.
Serangoon joins the million-dollar HDB club with its first 5-room flat sale, reflecting the rising prices in the property market.
Serangoon’s Million-Dollar Milestone
According to 99.co, a 5-room HDB resale flat in Serangoon has joined the million-dollar club.
The flat sold for S$1.03 million.
It is located at Block 420 Serangoon Central.
The unit is between the 10th and 12th floors.
It measures 1,324 square foot or 123 square metres.
This sale marks Serangoon’s first million-dollar transaction for a 5-room flat.
Breaking Down the Numbers
The S$1.03M works to be S$778 per square foot for this flat.
This is higher than the average price for 5-room HDB resale units in Serangoon, which is S$785,627.
The sale happened when HDB resale prices were going up.
From 2023 to 2024, HDB prices increased by 10.46%.
| Date | Block | Floor Range | Size (sqm) | Price |
|---|---|---|---|---|
| 09/2024 | 420 Serangoon Central | 10-12 | 123 | S$1.03M |
| 04/2024 | 420 Serangoon Central | 4-6 | 121 | S$990,000 |
| 04/2024 | 255 Serangoon Central Drive | 7-9 | 115 | S$990,000 |
Location Matters
The high price of this flat is linked to its good location.
Block 420 is right across from NEX shopping mall.
It is a 4 to 5 minute walk to Serangoon MRT stations.
These factors make the area very tempting for buyers.
As quoted from 99.co, “The answer to this question lies largely in their prime location. Block 420 is situated directly opposite the NEX shopping mall and is within a 4 to 5 minute walk to the Serangoon MRT stations.
This explains why buyers are willing to pay more for flats in this area.
Comparing with Other Estates
Serangoon’s million-dollar sale is a big step, but it’s not the first in Singapore.
Other areas like Bukit Merah have seen more million-dollar sales.
Each area has its own appeal and price trends.
Lease of This 5-Room HDB Flat
One interesting point about this sale is the flat’s remaining lease.
The Block 420 unit started its lease in 1989.
This means it has about 64 years left on its 99-year lease.
Some buyers worry about short leases, but this sale shows location can be more important than that concern.
What This Means for Buyers and Sellers
- Prices for larger HDB flats may continue to rise
- Location is a key factor in flat values
- Buyers are showing interest in 5-room flats over some condos
- Singapore may see more high-value sales in the future
Looking Ahead
This sale could change how people view Singapore’s property market.
It might lead to more million-dollar transactions in the area.
However, those seeking more affordable options should look at other estates.
As 99.co suggests, “If you’re seeking more affordable options, these estates could offer good value.”
It’s important to keep an eye on HDB resale trends when making property decisions.
Do you think more HDB flats in Singapore will hit the million-dollar mark soon?
