5-room Holland Drive flat fetches $968,000, most expensive in the area this year

SINGAPORE - Another Housing and Development Board (HDB) flat in the Queenstown estate has been sold for more than $900,000, becoming the sixth in the area to cross that mark this year.

The high-floor, five-room flat at Buona Vista Court fetched $968,000 in May, according to figures published on the HDB website, making it the most expensive transaction for a public flat in the area so far this year.

The 1,259.38 sq ft unit was completed in 2012, and is located between the 31st and 33rd storeys of Block 18C.

The price tag works out to approximately $769 per sq ft.

The property is close to both the Buona Vista and Holland Village MRT stations. The Star Vista shopping mall and the restaurants and bars in Holland Village are also nearby.

According to real estate portal The Edge, this is the highest transaction for a HDB flat this year excluding units at the Pinnacle @ Duxton, maisonettes and Design, Build and Sell Scheme (DBSS) units.

This is the second unit at the same block to fetch a high price in the past few weeks, continuing the recent trend of sky-high home prices in the area. In April, another five-room unit at Block 18C fetched $945,000.

This transaction also exceeds the $955,000 for another five-roomer at Block 18D of Buona Vista Court that was resold in March.

Meanwhile, May also saw another unit at Strathmore Avenue in Queenstown sold for $925,000, The Edge reported.

In 2015, a total of 15 five-room flats in the Queenstown area were sold for $900,000 or more.

seanyap@sph.com.sg