Image credit: Google Maps
In the bustling heart of Ang Mo Kio, a significant milestone has been achieved in the local real estate market, marking a historic moment for 4-room HDB units.
The spotlight falls on a specific property, Cheng San Court, located on the high floors between the 31st and 33rd storey of Block 591A on Ang Mo Kio Street 51. This unassuming property has recently shattered the S$1 million barrier.
1 million milestone for 4-room HDB unit in Ang Mo Kio
Taking a closer look at the data provided in the table below, it becomes evident that the latest transactions in 2023 involving 4-room HDB units in Ang Mo Kio have not just approached the 1 million price tag but have consistently been from the same property and block, Cheng San Court.
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Resale registration |
Address | Block | Unit | Size (sqft) | Price | Price (psf) |
|
March 2023 |
591A Ang Mo Kio Street 51 | 591A | Floor 25-27 unit | 1,001 | S$990,000 | S$989 |
| March 2023 | 591A Ang Mo Kio Street 51 | 591A | Floor 28-30 unit | 1,001 | S$990,000 |
S$989 |
|
May 2023 |
591A Ang Mo Kio Street 51 | 591A | Floor 28-30 unit | 1,001 | S$980,000 |
S$979 |
| May 2023 | 591A Ang Mo Kio Street 51 | 591A | Floor 31-33 unit | 1,001 | S$980,000 |
S$979 |
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What’s behind this 4-Bedder 1 million record?
A key factor contributing to the allure of these 4-room HDB units is their elevated location, situated on floors 25 and above, offering stunning views and convenient accessibility.
Residents of Cheng San Court also enjoy proximity to Ang Mo Kio (NS16 CR11), Tavistock (CR10), and Teck Ghee (CR12) train stations. Families also benefit from nearby schools such as Jing Shan Primary School, Teck Ghee Primary School, and Townsville Primary School.
Additionally, the property’s strategic location provides easy access to essential amenities. Giant (Cheng San Centre) and NTUC Fairprice (Hyper Ang Mo Kio) cater to daily needs, while shopping enthusiasts can explore AMK Hub, Jubilee Square, and Djitsun Mall for a comfortable retail experience.
4-room HDB sales trend in Ang Mo Kio
Analysing the sales trend, a noticeable climb in average price per square foot (psf) is evident.
In 2020, the average price psf stood at S$451, escalating to S$642 in 2023. This aligns with a growing trend, also as seen in the recent Built-To-Order (BTO) launch, where first-time homebuyers displayed a preference for larger units. It appears that buyers are now more willing to invest in spacious accommodations, even if it means paying a premium.
While the price psf numbers indicate a consistent (if not steep) increase, it’s crucial to also consider the transaction volume.
In 2020, there were 321 4-room HDB transactions, which slightly decreased to 310 in 2021 and 309 in 2022. As of the current year, 295 transactions have been recorded, indicating a possible stabilisation in the market – though it’s important to note that, while unlikely, these numbers could grow over the next 2 months.
Check your affordability with 99.co’s affordability calculator!
Read more: “Price pressures expected till end 2023”: HDB resale prices drop for the first time since February
4-Room HDB record holder in Singapore
Notably, the overall record for 4-bedroom units remains held by a property in Tiong Bahru. At 50 Moh Guan Terrace, a 4-room jumbo HDB flat was sold for an astounding S$1.5 million in May, setting a benchmark for HDB resale units.
Read more: Most expensive HDB resale flat: 50-year-old Tiong Bahru flat sold for S$1.5m
HDB flats for sale in Tiong Bahru
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Interested in breaking that record? Connect with a premier property consultant today.
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