5-room flat second HDB unit in Ang Mo Kio to cross million-dollar mark

A winning combination of view, size and proximity to an MRT station recently made a five-room flat in Ang Mo Kio cross the million-dollar mark. It was sold for $1,008,888 in November.

The unit is located at Block 310b of Teck Ghee Vista estate, which was completed in 2011.

In an interview with Shin Min Daily News, Derek Yap, who is both the owner of the flat and the property agent behind the successful transaction, said it took over half a year for him to sell the unit, no thanks to the disruption caused by the Covid-19 pandemic.

Yap added that he held over 10 separate viewings for potential buyers before he found someone who was willing to fork out a seven-figure sum for it.

He explained that one of the main three attractions of the 25th-floor flat is its breathtaking view of the surrounding area. Teck Ghee Vista overlooks Bishan-Ang Mo Kio park, a lush green area with a skating ring, a fenced dog run, cafes and restaurants.

Homeowners can enjoy the fireworks display during the new year from the comfort of their unit too, he said.

Another selling point is its location, specifically its proximity to nearby MRT stations, he added. The estate is just two bus stops away from Ang Mo Kio MRT station. It's also close to the Ang Mo Kio hub, as well as several schools such as Ang Mo Kio Primary School, Ang Mo Kio Secondary School and Mayflower Secondary School.

"In the future, the [MRT] Cross Island Line's Teck Ghee Station will be near this unit too," Yap said.

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Last but not least is the flat's size. With a floor area of 121 square meters, the unit is bigger than newer BTO 5-room flats that only have a floor area of 110 square meters.

While this is the first five-room flat in Ang Mo Kio to be sold for over a million dollars, it's not the most expensive HDB unit in the area, based on the price per square foot.

Last November, a four-room Design, Build and Sell Scheme (DBSS) flat at Park Central @ Ang Mo Kio sold for $783 psf, besting Yap's price of $775 psf by a hair's width. The DBSS flat was sold for $758,888.

Meanwhile, the first HDB flat in Ang Mo Kio to command a million-dollar price tag is a jumbo flat at Ang Mo Kio Avenue 5. The unit, which combined two three-room flats, was sold for $1.03 million last year despite only have 59 years on the lease at the time of sale.

rainercheung@asiaone.com