HDB prices have been appreciating steadily for a while now, with record million-dollar HDB transactions for resale flats being made everywhere from Bukit Batok and Ang Mo Kio, to Punggol and Clementi.
Queenstown flat has recently even snagged the title of most expensive resale flat at an eye-watering $1.73M, easily surpassing the units in our recent mid-year roundup of the most expensive HDBs by a cool $200K-$300K.
This time, we’re covering Kallang and Bukit Merah, 2 estates that have recently taken up a significant amount of the million-dollar transactions in the past month.
Contents
Top Transactions and sales performance
Bukit Merah
Image credit: Housing & Development Board
Bukit Merah holds 21 units sold above the $1M mark in July alone, 13 of which are 5-room flats. Whilst perhaps still expensive enough to warrant a double take when considering a unit in the estate, these are all decently-sized homes that have a rather long lease remaining.
Had these flats been located in other estates, they would likely still have fetched a high price by virtue of those 2 qualities alone.
Image credit: City Vue at Henderson
Top resale unit is a 5-room HDB at City Vue @ Henderson, which went for $1.588M back in June. In fact, it was the highest recorded transaction for a brief few weeks, at least until Queenstown’s unit surpassed that price tag about a month later.
Kallang/Whampoa
Image credit: Housing & Development Board
Kallang holds the largest single share of July’s million-dollar transaction pie, with 23 transactions, a large portion of which are actually extra-large 4-room HDBs such as the Model A series.
Image credit: Google Maps
Image credit: HDB
That said though, the highest ticket HDB transaction isn’t actually a flat at all, but rather a rare HDB terrace. This roomy 366.7 sqm unit is unique as well for being a rather old property to acquire, with only 47 years left in its lease.
Key reasons for the million-dollar HDB transactions
Central location
Image credit: Wikimedia Commons
To be honest, the number of million-dollar HDB transactions in these 2 estates starts making sense when you realise they are both adjacent to the Core Central Region of Singapore. This means proximity to the CBD as well as all of the best that the country has to offer, as far as amenities and shopping are concerned anyways.
The other big reason would be the new amenities and future developments for Kallang/Whampoa and Bukit Merah as part of URA’s master plan.
URA Master Plan: Bukit Merah
Image credit: Urban Redevelopment Authority
For Bukit Merah, some of the highlights would be the plans to expand the Thomson-East Coast Line (TEL) through the area, adding 4 new stations to the estate. Alongside this development are the expansion of the Singapore General Hospital as well as improvements on green areas such as park connectors and Mount Faber itself.
URA Master Plan: Kallang/Whampoa
Image credit: Urban Redevelopment Authority
The Kallang/Whampoa area might arguably get more exciting changes than Bukit Merah, with promises that Kampong Bugis will be transformed, providing jobs and places for recreational activity, all nestled within a lush waterfront park.
On top of that, you’d also have access to the TEL here in the form of Tanjong Rhu, as well as more sports facilities at Kallang sports hub.
Unique amenities in estates that would drive up prices
Image credit: TheSmartLocal
Both estates definitely have some very unique offerings beyond just a local market for groceries and convenient access to public transport. With Bukit Merah, it means being close to VivoCity, the largest mall in Singapore, as well as plenty of parks, such as the aforementioned Mount Faber but also the Southern Ridges and Henderson Waves.
There is also the old Tiong Bahru estate nearby, which provides a place to experience quaint cultural nostalgia and really good hawker fare in equal measure. Those who are taking care of family members in their silver years would likely also appreciate the proximity to Singapore General Hospital.
Image credit: @designboom
Image credit: Pinterest
The Kallang area has a slew of places to see and places to be, especially if you’re the outdoorsy type. You definitely have Suntec City close by which will function both as a large shopping area and an event venue, but the real draw for living in this estate would be the proximity to the largest collection of sports facilities at the Singapore Sports Hub.
Image credit: ArchDaily
Sitting upon a whopping 35 hectares of land is the National Stadium, a venue for both large sporting events and concerts. And with 6 indoor sports halls, an aquatic centre, facilities for water sports like kayaking and dragon boating, amongst many others, the Singapore Sports hub is very much going to cater to any athletic hobby that you partake in.
Million-dollar HDB transactions in Kallang & Bukit Merah
Whilst we will continue to see yet more million-dollar HDB transaction records broken for the rest of the year, units in the Kallang & Bukit Merah estates, with all that they have to offer, look like they might continue to make up most of the 7-figure sales.
That said, we’ve also made a list of other estates with million-dollar HDB transactions to KIV for, so perhaps you can see what options you’d have if you feel so inclined to snag one of these units as an asset.
Read our other articles here:
- Bishan Street HDB lists for $1.88M
- Hacks to get a BTO faster
- Should I opt for an HDB white flat?
- Guide to HDB’s Home Improvement Programme
Cover image adapted from: Google Maps, MSNews
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