Despite two rounds of property cooling measures, the fire-hot housing market continues to break new records. In 2022, 370 flats were sold at $1 million or higher, completely surpassing the past records of 259 million-dollar flats in 2021 and 82 in 2020. The demand for HDB flats has never been higher, and as such, prices are skyrocketing. But where are these record-breaking transactions located?
1. Central – 5-Room Loft Unit in SkyTerrace@Dawson for $1.4M
The recent sale of a 5-room loft penthouse unit in SkyTerrace@Dawson at a record-breaking high price of $1.418 million has put the spotlight on this truly unique condo. Here are some reasons why this hit a record high.
Rare Unit Type
HDB loft units are a rare breed typically only found in private condos. These unique homes boast 5.4-metre floor-to-ceiling windows that flood the apartment with abundant natural light, offering spectacular views to the lucky homeowner.
In the case of SkyTerrace@Dawson, there are only 26 5-room loft penthouse units out of 758 units in the development, making them even more in demand.
As soon as one of these units hit the market, buyers are known to eagerly pay a premium for the privilege of owning these units. In fact, there have been 18 flats in SkyTerrace@Dawson that have exchanged hands for over a million dollars, further showcasing the desirability of these rare homes.
Prime Location
Located on the higher 42nd and 43rd floors, this unit in SkyTerrace@Dawson offers breathtaking views of the lush greenery and exclusive Tanglin Good Class Bungalows (GCB) area. The project makes for a good location as it is situated in the central region of Singapore, with easy access to Queenstown MRT and Redhill MRT, and just a short drive to Orchard Road.
Renowned schools like Queenstown Primary School, Queenstown Secondary School, Queensway Secondary School, and Crescent Girls’ School are all also just within a short walk. There’s also the added convenience of ten supermarkets within a 1km radius – which includes popular chains like Sheng Siong, Giant, FairPrice, and Cold Storage.
The unique advantage of SkyTerrace@Dawson is also that it isn’t bound by Prime Location Housing (PLH) rules and this adds to its appeal as owners are able to place their units in the market right after the 5-year Minimum Occupancy Period.
2. Woodlands – 4-Room Executive Flat in Block 834 Woodlands Street 83 for $1.1M
The executive flat at Block 832 Woodlands Street 83 recently sold for a record-breaking price of $1.1m, raising questions about whether the high price was justified.
The is located in the 10-12th storey, a fairly middle-aged unit, with 71.5 years left on the lease. In terms of size, it has an approximate floor area of 2,034 sq ft, making it one of the largest executive flat sales recorded in the last 6 months.
Spacious Unit
One significant factor contributing to the high price point of the unit is its spacious interior. Unlike typical 4-room HDB flats, this unit boasts a separate living and dining area, a large kitchen, and even its own family room, providing ample living space for its residents. Furthermore, the unit’s prime location on a higher floor adds to its exclusivity.
These larger HDB units, with floor spaces ranging from 1,346 sq ft to 2,379 sq ft, offer luxurious living space similar to jumbo flats, which are no longer in production, further enhancing the appeal of these units in HDBs like SkyTerrace@Dawson.
3. Punggol – 5-Room Loft Unit in Punggol Sapphire for $1.19M
A DBSS 5-room loft unit on the 16th floor of Punggol Sapphire sold for $1.198M.
Rare Unit Type
Out of a total of 760 units, the estate boasts 23 loft 5-room units, making up the majority of the 37 loft units in the area. These loft units are highly valued due to their unique features which set them apart from regular 5-room HDB flats:
- Duplex layout
- Double-volume living hall
- Floor-to-ceiling windows
Moreover, the unit that was sold was only 10 years old and had a substantial remaining lease, adding to its appeal. The loft unit also offers ample living space spread across its 2 floors, with 3 bedrooms and a study, making it an attractive choice for potential buyers.
The owner even engaged an interior decorator to beautify the unit which likely contributed to the property’s premium valuation as well.
4. Tampines – Executive Maisonette in Block 856D Street 82 for $1M
Located at Blk 856D Tampines Street 82, this spacious Tampines flat is the first ever million-dollar HDB to be sold in Tampines. The unit type is an executive maisonette with a generous 1,657-sq ft located on the 10th to 12th storey and was sold for $1.013 million.
With its lease commencing in 1995, the flat still offers an attractive tenure of 72 years and three months.
Strategic Location
Besides its enviable size, the flat’s allure is further enhanced by its proximity to a multitude of amenities within a 1km radius. These include Tampines MRT Station, St. Hilda’s Primary and Secondary School, and Tampines Mall. Situated across the street from Our Tampines Hub, a vibrant complex featuring sports facilities, retail shops, a hawker centre, and a library, this property boasts a prime location.
It is also just a 10-minute walk from Tampines MRT, and the three malls nearby: Tampines 1, Tampines Mall and Century Square.
5. Jurong East – Executive Maisonette in Block 287D Jurong East Street 21 for $1M
The up-and-coming Jurong East area has also witnessed its first resale flat to surpass the million-dollar threshold. The HDB maisonette at 287D Jurong East Street 21 was transacted at the sale of $1 million. Occupying the 7th to 9th floors, this executive HDB flat boasts a generous floor area of 1,561 square feet.
Having commenced its lease in 1998, the flat has an impressive remaining lease of approximately 74 years and 7 months. But despite its modest size, spanning 145 square meters (1,560 sq ft), this Blk 287D flat is considered relatively smaller among executive maisonettes in Singapore.
A Rare Maisonette Unit In Singapore’s Second CBD
Notably, this sought-after residence is also situated in one of the blocks closest to the heart of Jurong East, boasting a convenient location within a 10-minute walking distance to key establishments such as Jurong East MRT, Westgate, JEM, and IMM.
Once perceived as ‘ulu’, Jurong East is set to become Singapore’s second Central Business District with the rapid development of Jurong Lake District.
Due to its smaller size compared to other executive maisonettes, it’s possible that its price may be influenced by factors such as the floor level, the level of renovation on the unit and its strategic location.
Nevertheless, this residence still surpasses the average size of ‘regular’ HDB flats available in the market.
6. Clementi – 5-Room Flat in Block 441A Clementi Towers Avenue 3 for $1.0M
A five-room HDB flat Block 441A, Clementi Avenue 3 has set a new price record for the Clementi area. On July 5, this spacious 1,248 sq ft unit changed hands for an impressive $1.04 million ($833 per sq f t), surpassing the previous record of $1.038 million ($810 per square foot) set in July 2019 by a 1,280 sq ft five-room flat within the same block.
Finalised Within a Day and Paid In Cash
The transaction was apparently completed swiftly and finalised within a day, with the buyer even opting to pay the entire amount in cash. The buyers were an elderly couple switching properties from their landed property in the West Coast. Additionally, this block of flats stands out due it’s relatively spacious design as five-room HDB flats offer greater affordability compared to private developments.
Notably, these flats also still possess a lease with a remaining term of 91 years. There is also the appeal of the location with Clementi Towers being situated near the Clementi integrated transport hub – which has the Clementi Mall, Clementi MRT Station, and Clementi Bus Interchange. The estate’s central location also situates it nearby to prominent educational institutions such as Clementi Primary School, Pei Tong Primary School, Nan Hua Primary School, and Clementi Town Secondary School.
7. Bishan – 5-Room HDB Flat in Natura Loft Block 273B Bishan Street 24 for $1.36M
The highest transacted unit in the vibrant neighbourhood of Bishan is in a DBSS project called Natura Loft, which has seen several million-dollar transactions over the years. Positioned on the 37th floor of Block 273B, this luxurious unit also offers breathtaking views of the surrounding landscape.
With an impressive transacted price of $1.36 million. This unit, located at Block 273B Bishan Street 24, surpasses the previous record set in July, when another five-room unit in the same project sold for S$1.295 million.
Spanning an area of 1,292 square feet, the sale price equates to a staggering $1,052.63 per square foot.
A Rare DBSS Flat With Excellent Connectivity
One of the most notable features of Natura Loft is its excellent connectivity. Its close proximity to Bishan MRT and Marymount MRT stations ensures seamless travel to various parts of Singapore. It is also located very close to Catholic High School, a renowned educational institution in Bishan. The convenience of a two-minute stroll to this popular school has a likelihood of its appeal.
It is also worth noting that DBSS flats often command premium prices, as they offer distinct features not typically found in standard HDB BTO flats.
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