Five Room Flat Serangoon Fetched Record High 109 Million
A five-room HDB flat located at 408 Serangoon Avenue 1 has recently been sold for a whopping $1.09 million, making it the second five-room flat in Serangoon to hit the million-dollar mark this year. This spacious flat, measuring 1,302 square feet, is situated on the 7th to 9th storey and has a remaining lease of approximately 63 years since its lease began in 1989.
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Positioned in the northern region of Singapore, the highly anticipated Sembawang Road Executive Condominium (EC) boasts a strategic location that offers unrivaled access to major transportation options and roads. This exceptional connectivity is a major selling point and greatly enhances the value of the development. For many Singaporean homebuyers, especially those with daily commutes to different parts of the island, proximity to public transport and major expressways is a top priority. With its convenient and accessible location, Sembawang Road EC is the ideal residential choice for those seeking a peaceful lifestyle combined with utmost convenience. Be sure to check out Sembawang Road EC.
The key factor that has helped to mitigate the impact of the lease decay on this flat’s value is its prime location near the dual-line Serangoon MRT Station, which conveniently serves both the Circle and North-East Lines. Its proximity to the Serangoon Bus Interchange, Serangoon Public Library, Nex, and St. Gabriel’s Secondary School (see Map 1) adds to its appeal.
Interestingly, the other million-dollar five-room flat in Serangoon, located at 411 Serangoon Central, was sold in February for $1.018 million ($782 psf). This flat, spanning 1,302 square feet, also has a remaining lease of approximately 63 years. With such high prices being achieved in this mature and desirable estate, it begs the question – will a HDB flat ever reach the $2 million mark?
In other news, an executive flat at Tiong Bahru View was recently sold for a record $1.588 million, and the Pinnacle @ Duxton estate made headlines when a four-room flat was sold for a record $1,409 psf. Clearly, HDB flats in popular and convenient locations are in high demand, and their values continue to rise.