Bukit Merah 5-room HDB flat sold for record $1.45m, Latest Singapore News - The New Paper

Bukit Merah 5-room HDB flat sold for record $1.45m

A five-room HDB flat in Bukit Merah has been sold for $1.45 million, setting a new record for similar-sized units in the area.

The 113 sq m flat, located between the 19th and 21st floors of Block 96A in City Vue @ Henderson, has 94 years and nine months left on its lease.

The ERA agent who handled the transaction told Shin Min Daily News that the buyers of the unit were Singapore permanent residents from India. The family liked the flat’s unit number and that it did not need to be renovated and was ready for them to move in.

The sellers, who did not hire an agent, had originally asked for $1.68 million, but reduced the price to S$1.48 million when there were no potential buyers. The family had entertained 10 enquiries about the flat, and six groups of buyers had dropped by to see it, the agent said.

The flat was snapped up within two weeks and the transaction is expected to be completed by the end of November.

Shin Min also reported that since 2021, there have been seven flats in the same block involved in million-dollar deals.

The latest such transaction was last year, when a unit on the 41st floor exchanged hands for $1.4 million.

Experts told Shin Min that with the new classification system for new BTO flats next year, existing HDB flats which are not subjected to restrictions such as the 10-year minimum occupation period for Prime or Plus units would attract homeowners, who would not mind paying more. 

As for Block 96A, Mr Lee Sze Teck, senior director of data analytics at Huttons, said it drew buyers as it was close to the MRT station and offered good views.

For instance, he said the living room of another five-room flat on the 45th floor, which was sold this month for over $1 million, faced Marina Bay Sands, while its kitchen faced Sentosa.