Another resale flat has clinched the title for being the most expensive HDB flat this month, just two months after a new record was set.
A five-room resale flat at Blk 96A of City Vue @ Henderson was sold for S$1.4 million, breaking the previous record of S$1,388,888.88 set in March for a five-room flat at Pinnacle @ Duxton.
Spanning 1,216 sq ft, this translates to a price psf of S$1,151.
Development is a SERS replacement site
CIty Vue @ Henderson is a replacement site for the Redhill Close SERS project that HDB announced back in 2011.
Likewise, the site at Henderson Road used to be occupied by two blocks that were part of a SERS project announced earlier in 2007.
The blocks were then demolished in 2012 to be redeveloped into what is today City Vue @ Henderson.
Besides serving as replacement flats for those who were displaced by SERS, HDB sells the surplus through the Sale of Balance Flat (SBF) exercise. However, it is unlikely that this record-setting flat was bought through SBF, given its high-floor location (it ranges between 40 and 42). On the other hand, flats bought through SBF tend to be less desirable.
The record-breaking transaction is not the only million-dollar-flat transaction at City Vue @ Henderson
Notably, the lease of these flats only started in 2019. This means that the flat sold so far has technically not hit their five-year Minimum Occupation Period (MOP) yet. Maybe it’s due to one of these reasons?
Nevertheless, there have been resale transactions recorded in the project since November last year.
Besides this S$1.4 million flat, other million-dollar-flat transactions recorded so far include a 4-room flat sold in December for S$1.03 million and a 5-room flat sold in November 2021 for $1.256 million.
99.co understands that there was also another sale at S$1.38 million in the same block that was recently exercised in April. The deal was closed by Jeremy Yong & Christina Tan from Property Lim Brothers of Propnex.
What do you think of this million-dollar flat transaction? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, 99.co recommends Bishan HDB with 64 years left sold for $1.18m, with a record S$750 psf for the neighbourhood and 600 households over 4 blocks in Ang Mo Kio picked for SERS.
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The post Breaking: The most expensive HDB unit, sold for S$1.4m, is now a SERS replacement flat appeared first on 99.co.
