In our recent analysis of the most expensive HDB flats sold in 2022, we realised that most of these record-hitting flats are located around Central and East Singapore. Housing on the Western side of our little red dot has still maintained some semblance of affordability. Until recently, that is.
In December 2022, a 5-room flat in Jurong West – specifically a high-floor unit at the Lake Vista DBSS development – was sold for $858K. It might not be one of those fabled HDB flats that sold for over $1 million dollars, but this number makes this transaction the most expensive HDB resale flat in Jurong West.
At 1,163sqft, the unit is one of the biggest available when the Lake Vista DBSS project launched back in October 2011. This would also mean the new homeowners paid $737psf for their new home. This is a fair bit over the average of all previous sales at Lake Vista of 5-room flats at the same square footage at $611psf.
An example of the floor plan at Lake Vista.
Image credit: lakevistajurongdbss.wordpress.com
But let’s take a look at what they got out of the deal. The remainder on the lease is almost 91 years, and the unit is located on one of the top floors of Block 138C. And since the stack faces north, the unit has unblocked views of Jurong Lake Gardens; the park is also a couple of minutes away by foot.
SuperBowl Jurong is also 2 roads away from Lake Vista, and it’s home to a couple of restaurants and McDonald’s, so getting your grub on will be an easy convenience. And the biggest plus point – this is a DBSS flat, which means a more premium build quality and features like balconies and a security gate.
Image credit: Google Maps
On the flip side, Lake Vista’s location is a bit isolated from the train stations, with none of the Jurong Region Line stations even coming close during its construction in the next few years. Thankfully, there is a direct bus from Lake Vista’s doorstep all the way to Lakeside MRT Station.
5-room DBSS flat in Jurong West breaks a resale record
At first glance, the “record-setting” price of this DBSS resale transaction might be quite alarming. But when you consider all the factors, it looks like the new homeowners paid a fair price for what they’re getting: top-floor views of a vista, condo-like build, gated access, and a lengthy 90-year lease. Remember, the devil’s in the details.
For more housing news:
Cover image credit: Google Maps