Remember when the $2M HDB flat listing in Anchorvale shook you to the core? Yes, you do. Turns out, a bunch of homes in the heartlands are being listed for over $1M on property sites. As of 13th May, 7 4-room HDB flats are now on sale for as high as $1.3M, with a jumbo unit listed for a whopping price of $1.58M.
4-room HDB at 590B Ang Mo Kio St 51 sold for all-time-high of $1.02M
Image credit: Land
According to 99.co, on 1st May 2024, a 4-room HDB unit at 590B Ang Mo Kio St 51 was sold for $1,029,991. Prior to this, there were only 2 other units in block 591A which were sold for exactly $1M in late 2023.
In comparison to the average price of a resale flat, which is much lower, these million-dollar sales certainly raise some eyebrows. They also set the tone for the housing market in this residential area, which might not be as affordable as it used to be.
Image credit: PropertyGuru
Here’s another unit that’s currently listed on the market for $1.3M. Located at 588C Ang Mo Kio St 52, the 4-room penthouse unit is roughly 1,001 sqft. It has 3 bedrooms, 2 bathrooms, high ceilings, and modern fittings, plus the ability to open up the terrace door for some tropical breeze to blow through. Not only that, but tenants will also get an unblocked city view from 30 floors above the ground and close proximity to Ang Mo Kio MRT station.
Image credit: PropertyGuru
Now, all the perks above seem to justify the hefty pricetag of $1.3M. However, when compared to a recent transaction of a similar unit that was sold for $930,000 in March 2024, an increase of $370,000 in just 2 months is a lot.
An increase in million-dollar listings in Ang Mo Kio
Since the sales of two $1M flats at the end of 2023, there’s been an increase in million-dollar listings in Ang Mo Kio. And for good reasons.
Image credit: TheSmartLocal
Known as one of the most popular matured estates in Singapore, Ang Mo Kio sits high on many homebuyers’ lists. For once, it’s a homely and relaxing neighbourhood with a thriving network of public transportation, as well as an abundance of malls, stores, and eateries.
Jumbo unit at 557 AMK Ave 10 listed for $1.58M
If you think $1.3M is outrageous for a 4-room flat in Ang Mo Kio, wait till you see this $1.58M jumbo unit. And it’s located just a few blocks up the street at 557 Ang Mo Kio Ave 10.
Image credit: PropertyGuru
According to PropertyGuru, the listing comprises two 3-room units which consists of 4 bedrooms and 2 bathrooms that span 1,440sqft that offer unblocked views of the ‘hood from a high floor. According to the Housing & Development Board, this is allowed upon application approval. The inside is decorated like a trendy urban condo with hardwood floors, wall paneling, modern showers and kitchen appliances like a dishwasher and an oven.
Image credit: PropertyGuru
The adjoined flat sits in between Ang Mo Kio MRT station and Tavistock MRT, both within 15 minutes by foot.
More million-dollar 4-room HDB flats in AMK
Gone are the days when you can get a 4-room HDB flat in the heartland for around $400,000. Judging by the look of it, one would need to have enough cash and cache to finally move into one of these units—somewhere in the millions. This is starting to feel like a real version of Selling Sunset, isn’t it? Perhaps the increase in resale flats’ price is also the reason why locals build homes abroad, like this stunning villa in Bali.
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Cover image adapted from: PropertyGuru
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