SINGAPORE: An executive flat at Ang Mo Kio sold on March 5 for S$1,350,000. According to the property website 99.co, the sale broke a two-year record, which the company takes as a sign that the demand from buyers for bigger Housing & Development Board (HDB) units, regardless of the age of the flats, remains high.
The flat is located at within the Yio Chu Kang Green cluster, on the fifth to seventh storeys at Block 605 Ang Mo Kio Avenue 5. 99.co noted that it belongs to a specific group of adjoined units termed at times as “jumbo flats.”
The company said that the flat is likely to be a combination of two 3-room flats and spans 178 square metres, or around 1,916 square feet. 99.co added that the unit is therefore substantially bigger than regular HDB units and is believed to have six bedrooms and three bathrooms.
Because the lease of the project began in 1980, it is 46 years old and has about 53 years and 4 months of lease remaining. Usually, flats that have a longer remaining lease are the ones that fetch higher prices. However, with the size of the unit at Block 605 Ang Mo Kio Avenue 5, it’s unsurprising that it sold for more than one million dollars.
Record-breaking transaction
In August 2024, an executive flat at Block 422 Ang Mo Kio Avenue 3 set the record selling price of S$1.32 million. That unit, at 1,873 square feet, was not as big as the current record-holder, though both units sold for S$704 per square foot (psf). However, since the most recent transaction was for a bigger unit, it fetched a higher overall selling price.
Nevertheless, 99.co characterised this psf as “relatively modest” in comparison to newer and more modern HDB resale transactions.
Case in point: a 5-room unit at Park Central @ AMK changed hands for S$1.5 million, making it the costliest resale transaction at Ang Mo Kio.
This unit is only about 1,290 square feet, however, meaning that it sold for S$1,100 per square foot, a price difference of more than 56 per cent.
Jumbo flats in Singapore
At 147 to 199 square meters, or 1,582 to 2,142 square feet, jumbo flats are much bigger than even five-room HDB flats, which are usually between 110 and 130 square meters, or 1,184 to 1,399 square feet.
These “supersized” flats are ideal for multi-generational households. Jumbo flats came about a few decades ago when adjacent three or four-room units were merged because of an oversupply at the time. /TISG
Read also: Executive flats in Pasir Ris, Bukit Batok fetch record resale prices over S$1.1 million
