SINGAPORE: Two recently MOP-ed (Minimum Occupation Period) projects have achieved significant resale values.
As per reported by Singapore’s property portal 99,co, a unit at Alkaff Vista in Bidadari sold for S$1.2 million, while a flat at Cheng San Court in Ang Mo Kio fetched S$1.08 million.
A check on HDB website indicated that the S$1.2 million 5-room unit located at Block 106A, Bidadari Park Drive.
This particular unit, situated between the 7th and 9th floors of the 17-storey building, spans 1,216 square feet.
Launched in 2010 and completed in 2019, Alkaff Vista boasts nearly 95 years remaining on its 99-year lease, contributing to its substantial market value.
When Alkaff Vista’s BTO units were initially launched, 4-room flats began at S$433,000.
Alkaff Vista offers a range of amenities, including a children’s playground, fitness stations, and a roof garden on the 8th storey, appealing to families and individuals alike.
Its location adds further allure, being a mere 5-minute walk from Potong Pasir MRT Station and conveniently close to various shopping hubs and schools, such as Cedar Primary School and St. Andrew’s Junior School.
Interestingly, the S$1.2 million sale stands as the highest resale not only in Alkaff Vista but across Bidadari.
This project is the first in the area to reach MOP, and its current lack of competition may have contributed to the elevated prices.
As more projects in Bidadari reach MOP, it is anticipated that additional million-dollar sales will follow.
This S$1.2 million sale is not an isolated event; in fact, three other transactions from the project were also sold at impressive prices, with two of them exceeding the S$1 million mark.
4-Room unit at Cheng San Court Achieves S$1.08 Million Sale
Meanwhile, a unit at Cheng San Court (Block 590B, Ang Mo Kio Street 51) recently sold for S$1.08 million.
This flat, located between the 28th and 30th floors of a 32-storey block, measures 1,001 square feet and achieved a price of S$1,078 psf.
Cheng San Court, launched in 2019, is one of the youngest resale projects in Ang Mo Kio, with approximately 93 years and 6 months left on its lease.
Original buyers of this Cheng San Court unit also experienced a notable capital gain.
When the project was launched, 4-room flats were priced from S$435,000, making the recent resale price a 59.72% increase, or S$645,000.
Cheng San Court has seen a surge in million-dollar transactions since recording its first such sale in November 2023, marking Ang Mo Kio’s first-ever million-dollar sale for a 4-room flat.
With this latest S$1.08 million transaction, it stands as the most expensive 4-room HDB resale not only within Cheng San Court but throughout Ang Mo Kio.
The post Newly MOP-ed projects in Bidadari and Ang Mo Kio fetch S$1.2M and S$1.08M appeared first on The Online Citizen.
