The Housing and Development Board (HDB) resale market in Singapore has recently witnessed a notable transaction in Sengkang, where an executive flat at Compassvale Lane was sold for S$1,000,000, setting a new all-time high for the town.
This sale reflects the strong demand for properties in Sengkang and may influence future transactions. Due to its impact on the nation’s housing landscape, the HDB resale market has always been an important subject for potential home buyers and market analysts.
About Block 205B Compassvale Lane
Blk 205B Compassvale Lane is a 99-year leasehold HDB block in Sengkang HDB Estate. Completed in 1999, it has 67 units and its MOP year is 2004. The block is conveniently located within walking distance of Buangkok MRT and Ranggung LRT, which provide easy access to other areas of Singapore.
Families with children can find schools like North Vista Primary School, Sengkang Primary School and Palm View Primary School nearby. Nearby amenities such as Compass One and Sengkang Grand Malls are located within minutes away. Also, supermarkets like Fairprice and Giant Express for groceries and household products are near enough.
Residents can access nearby clinics such as Sengkang Polyclinic and Sengkang General Hospital in case of health emergencies or regular health checkups. The Post Box is the nearest post office for postal services. Kumon is available for monetary services.
The local parks – Punggol Park and Serangoon Garden Park Connector is a good option for leisure and entertainment. You can also check the latest price trends and transaction history data for 205B Compassvale Lane HDB Block.
Overview of the Sengkang ATH transaction
On 1 April 2024, a transaction was recorded for an executive flat at Block 205B, Compassvale Lane. The flat has a floor area of 143 square meters and is situated between the 7th and 9th floors. It was sold for one million dollars which is the highest sale price for any resale flat in the town so far.
This sale price indicates a significant change in the market dynamics of Sengkang, taking into account the previous trends and ongoing developments in the residential sector.
Read another recent ATH transaction we covered: Huat ah! Record 4-Room Bedok HDB flat sells for a lucky S$888,888, psf also S$888
Factors contributing to the high sale price
Physical attributes: The flat’s layout is spacious and situated at a mid-level, which could be considered an attractive feature in Singapore’s densely populated urban environment. Its location in Sengkang, a town known for its recent development and modern amenities, could add to its value.
Market conditions: The HDB resale market is experiencing an upward price trend, driven by limited supply and steady demand nationwide. Sengkang’s well-designed public transport infrastructure and community amenities make it an appealing option for families seeking a long-term investment in a home.
Impact of the ATH sale on Sengkang’s property market
Local market dynamics: The recent transaction has set a new record for property sales in the town. It may serve as an indication of the town’s increasing desirability, which could influence the asking prices and market confidence among real estate agents and potential buyers. The long-term impact of this transaction on property values and sales in the region remains to be seen.
Comparison with other HDB towns: It’s worth noting that Sengkang has been setting new records lately. However, it’s important to consider this in the context of broader market trends. Other towns like Woodlands and Punggol are also experiencing changes, though Sengkang’s combination of modernity and accessibility seems to give it a competitive edge.
Check out our HDB listings for Woodlands and Punggol!
Buyer’s perspective and future outlook
Motivations and expectations: Buyers who invest in high-value properties are typically motivated by a range of factors such as location, property features, and potential long-term returns. It is reasonable to assume that the expectation of a high quality of life is a factor, supported by the extensive public amenities and green spaces in Sengkang.
Future projections for Sengkang: Sengkang’s housing market is showing signs of positive growth, with ongoing improvements in public infrastructure and community facilities. These developments are expected to attract more high-value transactions and reinforce its status as a desirable residential area.
Additional reading: Why Singaporeans will be rushing for Sengkang HDB flats
Conclusion
The sale of the executive flat at Compassvale Lane is a notable transaction that could potentially impact the housing market landscape in Sengkang. This event presents an opportunity for residents and investors to evaluate the long-term value of real estate investments in Singapore.
The post Sengkang’s HDB resale breaks S$1,000,000 transaction threshold appeared first on .
