A five-room HDB flat in Ang Mo Kio has been resold for a record-breaking price of S$1.268 million.

The unit, located between the 13th and 15th floors in Block 588C Ang Mo Kio Street 52, was sold for S$1.268 million in February 2024, according to official records.

The unit has an area of 1,292 sq ft and has a remaining lease of 86 years.

The block is a Design, Build and Sell Scheme (DBSS) development.

Flats built under the DBSS scheme are meant for public housing and developed by private developers.

Shin Min Daily News reported that the HDB flat was sold by a couple in their 60s.

They revealed that their children had moved out to start their own families, and since they did not need as much living space, they chose to downsize their home.

The buyers of the flat were a family of four.

The HDB flat is located near Jing Shan Primary School, Anderson Secondary School and Nanyang Polytechnic.

It is also within walking distance of Ang Mo Kio MRT station.

The resale transaction has also broken the record for the highest resale price of HDB flats in Ang Mo Kio.

The previous record in Ang Mo Kio was established in 2023 when a 1,894 sq ft HDB flat in Block 418 Ang Mo Kio Avenue 10 was sold for S$1.2 million.

It had a remaining lease of 55 years.

However, million-dollar flats form a minority of transacted prices.

Top photo via Google Maps