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A five-room HDB flat in Pine Close was sold for over S$1,000,888 on Jul. 20, 2022, making it the second flat to be sold for more than S$1 million within the estate in 2022, according to the seller's agent, Lixon Mui from ERA Realty Network.

The 1,292 square feet flat is located on the 11th storey of Block 9 Pine Close.

This translates to a price of around S$775 per square feet.

Second million dollar transaction in 2022 within Pine Close

In response to Mothership's queries, Mui said the buyer for the flat is a young couple with a toddler.

In addition, the flat was sold with a Cash Over Valuation (COV) of S$90,000, Mui added.

Cash Over Valuation refers to the difference between the sale price of a resale HDB flat and its actual valuation by HDB, according to PropertyGuru.

This particular flat at Pine Close was valued by HDB at S$920,000, Mui said, quoting the agent for the young couple.

The lease for the flat began in 1997.

It is also not the first flat within the estate of Pine Close to have been sold for more than a million.

Mui said that in January 2022, another five-room flat at Block 5 Pine Close on the 19th floor was sold for S$1.02 million.

This flat was built in 2000 and has an area of 1,184 square feet.

Located within 1km of another estate with million-dollar flats sold

These Pine Close flats are located within a 300m radius of Mountbatten MRT station and Old Airport Road Food Centre.

They are also located within a 1km radius of Dakota Crescent, which also saw two flats sold for more than a million dollars.

On Sep. 19, a HDB maisonette at Block 60 Dakota Crescent was sold for a new record price of S$1.05 million.

Another maisonette in the same block at the 10th floor was sold for S$1,008,888 in December 2020.

Background

Nine HDB estates have recorded their first million-dollar flats in 2022.

Yishun, Woodlands, Pasir Ris, Marine Parade, Bukit Batok, Tampines and Punggol recorded their first million-dollar flats over the past eight months.

Top screenshot via Google Streetview