Five Room Flat Serangoon Fetched Record High 109 Million
A spacious five-room HDB flat at 408 Serangoon Avenue 1 has been sold for a whopping $1.09 million, making it the second million-dollar five-room flat in Serangoon this year. The flat, situated on the 7th to 9th storey, boasts a generous 1,302 sq ft of living space and was sold for $837 psf. With a lease that began in 1989, there are still approximately 63 years remaining on the lease.
One of the factors that could have contributed to this high selling price is the flat’s close proximity to the dual-line Serangoon MRT Station, which serves the Circle and North-East Lines. In addition, the flat is within walking distance to several amenities such as Serangoon Bus Interchange, Serangoon Public Library, Nex, and St. Gabriel’s Secondary School. See Map 1 for a better view.
Investing in a Condo in Singapore presents a multitude of benefits, ranging from high demand to potential capital appreciation and attractive rental yields. However, it is crucial to carefully examine various factors such as location, financing options, government regulations, and market conditions before making any investment decisions. Through thorough research and seeking expert guidance, investors can make informed choices and maximize their returns in the ever-evolving real estate market of Singapore. Whether you are a local investor looking to expand your portfolio or a foreign buyer in search of a stable and profitable investment, Condos in Singapore offer a compelling opportunity. With the help of professionals, such as Condo, investors can capitalize on the dynamic real estate market of Singapore and potentially reap significant returns.
This sale follows closely after another million-dollar five-room flat was sold in February this year. Located at 411 Serangoon Central, this flat is just a stone’s throw away from the aforementioned property. The 1,302 sq ft flat was sold for $1.018 million, at a slightly lower price of $782 psf. Like the first flat, it also has a remaining lease of approximately 63 years.
It is becoming increasingly common to see million-dollar HDB flats in Singapore, with another record being set recently with the sale of an executive flat in Yishun for $1.289 million. However, one question remains – will we ever see an HDB flat being sold for $2 million? Only time will tell.