10-year-old Sengkang flat sold for S$1.06 million

A Housing and Development Board (HDB) flat located at Block 279B Sengkang East Avenue was sold for S$1.06 million in April 2025.

According to EdgeProp, this is a new record price in Sengkang.

The unit is located on the high floor of the HDB block, according to Kayden Siow, an associate division director at Huttons Asia who facilitated the transaction.

The flat spans 1,206 sqft, which means it was sold at around S$878 psf.

As the HDB block attained its Temporary Occupancy Permit (TOP) in January 2015, the flat had around 89 years left on its lease at the time of the transaction.

5th million-dollar HDB resale flat in Sengkang

Speaking to Mothership, Siow shared that the flat in question was the fifth HDB resale unit to fetch a seven-figure sum in Sengkang.

In April 2024, the town recorded its first million-dollar transaction when a maisonette unit at Block 205B Compassvale Place was sold for S$1 million.

As the flat spans 1,539 sqft, this means that it was sold at S$650 psf.

Following the transaction, another maisonette unit of the same size at Block 102 Rivervale Walk was sold at around S$1 million in August 2024.

Two five-room units at Block 216B Compassvale Drive, both spanning 1,206 sqft, were sold at S$1 million in July 2024 and S$1.05 million in November 2024, respectively.

Possible reasons for transaction price

For the unit at Block 279B Sengkang East Avenue specifically, Siow shared that several factors might have contributed to its record-breaking transaction price.

The first factor will be the unblocked view the flat offers, as it sits on a high floor.

Second, the flat is a corner unit, comes in a regular layout, has minimal wear and tear, and is in move-in condition.

The third factor will be the HDB block's location, as it is situated next to Sengkang Grand Mall and within walking distance from Buangkok MRT station.

HDB flats with very high resale prices 'a minority'

At a media briefing on Aug. 20, 2024, Minister for National Development Desmond Lee shared that while record HDB resale prices have frequently made headlines, HDB flats with very high resale prices make up "a very small proportion of all transactions".

Lee added that such transactions make up only 0.5 per cent of all four-room or smaller flats transacted in the last two years, are very central, and are well served by transport connectivity and comprehensive amenities.

Lee noted that more than half of them are also located on very high floors, above 30 storeys, and have good views.

However, they have caused Singaporeans to be concerned about "the affordability of resale flats as a whole":

"Flat sellers who are reading such news raise their expectations about how much the flat could bring, while flat buyers become anxious to secure flats before prices get higher.

If we are not careful, such market dynamics can cause the resale market to run out of line with economic fundamentals and cause a bubble."

Lee also noted that flats that cross the million-dollar mark make up about 2 per cent of all resale transactions over the last 1.5 years.

Top images via Kayden Siow & Google Maps