Bukit Merah house with five rooms goes for S$1,59 million, a record price
The HDB unit located in Bukit Merah which is a five-room apartment on Boon Tiong Road, has been sold for S$1,588,000. This is the most expensive HDB unit that has been sold so far in Singapore.
According to PropNex Realty, who on Tuesday (Apr 30) announced that one of its property managers overseeing the sale of the unit on Apr 28.
The agency also said that the sale “smashed” the previous record of S$1,569,000 for the resale five-room Design, Build and Sell Scheme apartment located in Lorong 1A Toa Payoh in January 2024.
The 112 square-metre resale apartment is located above the 35th storey of the 40-storey building 9B Boon Tiong Road. It has a lease of 99 years, starting in January 2016.
The unit is part of the HDB project called Tiong Bahru View, which includes blocks 9A,9B, 10A and 10B.
Lim Yong Hock, PropNex’s chief executive officer, stated that the company “essentially fulfills all of the requirements” due to its “top attributes” of being close to city amenities, being situated on a top floor and having a relatively lengthy lease balance.
The HDB Build-To-Order developments are generally not offering five-room apartments in the most desirable locations nearer to the city.
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Tiong Bahru is the new housing area for Singapore’s selective En bloc Redevelopment Scheme. The first blocks 110,111,113 and 114 Bukit Merah View are being demolished.
PropNex declared that the HDB data for the Tiong Bahru View flat sold at least S$1,000,000 since July 2018 doesn’t reflect the transaction of S$1,59 million.
Just at 9B Boon Tiong Road A total of 13 million dollars worth of flats have been sold. These include three four-roomers, 10 five-roomers, as well as the most recent record-breaking sale.
PropNex reported that 10 units of five room Resales apartments in Block 9B was sold for between S$1.05 and S$1.4million.
Prior to the most recent sale located at 9B Boon Tiong Road in Singapore, three HDB flats were sold at S$1.5million. Two of them are in Toa Payoh, and they were resold back in January 2024. Another is an adjoining flat in Moh Guan Terrace in Bukit Merah that was sold in June 2023.
PropNex has seen an increase in quantity of million-dollar HDB flats that have been resold in recent years. It expects the trend to continue until 2024, potentially surpassing the 2023 record of 469 million dollars HDB units that are resold.
Lim said that the recent million-dollar flat sales “still only a tiny fraction” of HDB flat resales.
According to him, the overall need for HDB flats is “healthy”.
The key executive said, “We project that HDB sales volumes will range from 26,000-27,000 units for the entire 2024 period.”
