Chinese New Year may have come early for the first owners of a 4-room HDB flat in Bendemeer, as the flat was recently sold for S$1 million (huat ah!). Spanning 1,001 sq ft, this translates to around S$999 psf.
This isn’t the only million-dollar 4-room flat in Kallang/ Whampoa. Back in June last year, a 4-room unit in the neighbouring Blk 10A was sold for S$1 million. For now, this is the record price for the flat type in the estate.
Notably, both units are from Bendemeer Light BTO, which is located beside the City View @ Boon Keng DBSS project. In recent years, the project is known for clocking several million-dollar flat transactions.
Capital gain of around S$405k to S$533k
The Bendemeer Light BTO was launched during the May 2012 BTO sales exercise. Completed in 2017, the Blk 10B flat has 94 years of remaining lease when it was resold.
This would also mean that the first owners of the flat had only completed its five-year Minimum Occupation Period (MOP) last year.
4-room units at Bendemeer Light were priced between S$467,000 to S$595,000 during the BTO launch. This means that the resale price of S$1 million has netted the first owners a capital gain ranging from S$405,000 to S$533,000.
Recent record-breaking million-dollar HDB flat transactions
This transaction at Bendemeer follows two other record-breaking transactions in their respective towns.
Earlier this month, a 5-room HDB resale flat at Blk 441A Clementi Avenue 3 was sold for an eye-watering S$1.28 million. It set an all-time high price for 5-room HDB resale flats in Clementi. At 1,249 sq ft, this works out to S$1,025 psf.
More recently, a 5-room HDB loft at Blk 268B in Punggol Field became the second million-dollar flat in the estate when it was sold for S$1.22 million. It also broke the previous record of S$1.198 million for a 5-room resale flat in Punggol.
Notably, the unit is a premium loft with a second floor, measuring 1,604 sq ft. This means the price psf works out to S$761 psf. Premium lofts are among the rarest types of HDB flats, with only 23 of them available at Punggol Sapphire.
Interestingly, unlike the Bendemeer flat, these two units are slightly older at around 10 years old, with the Clementi flat completed in 2012 and the Punggol flat in 2013.
HDB flats for sale
Considering to sell your HDB flat after the MOP? Let us help you by connecting you with a property consultant.
If you found this article helpful, 99.co recommends 1,001-sqft Pinnacle@Duxton flat sold for S$1.37m at record S$1,369 psf – most expensive 4-room HDB resale in Singapore and Full list of HDB BTO projects hitting MOP in 2023 (and should you sell right after MOP?)
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
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