SINGAPORE: A five-room Housing & Development Board (HDB) flat sold for an eye-watering S$1.728 million last month. The unit is located at 96A Henderson Road and is part of City Vue @ Henderson.
The sale set a new record for resale units in Singapore, according to property portal and data analytics platform EdgeProp.
The flat, located on the 46th to 48th floor, spans 113 sq m (around 1,216 sq ft), which comes out to approximately $1,421 per square foot (psf). Importantly, because the flat’s lease started in 2019, the unit still has 92 years and one month on its lease, which is likely to have contributed to the high price it fetched.
This sale broke the previous resale record held by a unit of a similar size at SkyTerrace @ Dawson at 92 Dawson Road, which changed hands in February for S$1.7 million ($1,295 psf). While this unit was bigger, at 1,313 sq ft, it had slightly fewer years left on its lease (around 89 years).
“Less space, higher price per square foot. The trajectory here is hard to ignore. S$1.4 million in May 2022. S$1.588 million in June 2024. S$1.728 million now. Each time the market seemed to have found a ceiling, this development pushed past it.
This is also happening while the broader resale market just posted its first quarterly price dip since 2019. The average is softening. The top end is not,” noted Stacked Homes regarding the sale on May 1.
Prime location
The unit’s location appears to have played a big part in its high price tag as well. While not actually central, it is still within an easy distance to the Central Business District and Orchard Road, as well as the Greater Southern Waterfront area.
City Vue @ Henderson is also close to Redhill, Tiong Bahru, and Outram, and Bukit Merah is easily accessible, as are Redhill MRT Station and Tiong Bahru MRT Station. There are also a number of well-known primary schools, including Alexandra Primary School and Gan Eng Seng Primary School, nearby. /TISG
Read also: 46-year-old ‘jumbo’ executive flat in AMK sells for S$1.35 million
This article (S$1.73 million Henderson Road flat breaks Singapore resale record) first appeared on The Independent Singapore News.
