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A 10-year old HDB unit in Ghim Moh has become the area's most expensive flat, after it was sold on Mar. 23 for a record S$1.223 million.

The 5-room flat at Block 22, Ghim Moh Link, occupies around 1,216 sq feet (113 sqm), which translates to a S$1,005.75 per square foot price, shared Branden Lee, Associate Branch Director of Propnex Realty Pte Ltd.

According to SRX, the unit is also located at a high floor above the 24th storey and has a remaining lease of about 89 years.

The estate, located in District 10, was built in 2013, and has about 89 years remaining on its 99-year lease.

It is the third flat in the Ghim Moh area to be sold for more than S$1 million, based on SRX figures from the past two years.

The unit

The unit is well-maintained, with a chic interior design.

The location

Lee explained that the flat commands such a high price because of its location.

It is a stone's throw away from Buona Vista Interchange, The Star Vista, enclaves such as Holland Village and the one-north business park.

Several popular schools such as Fairfield Methodist Primary School and Henry Park Primary School are also in the vicinity.

Lee also believes the flat's appeal is influenced by a lack of supply of 5-room flats in the surrounding estate.

"There are only 225 [of such] units in the cluster and the cluster right beside (Ghim Moh Edge) has no 5-room [units]," he elaborated.

He pointed out that upcoming Prime Location Housing (PLH) projects in Dover and Ghim Moh do not feature 5-room units either.

Top image from Google Street View and courtesy of Branden Lee.