2 HDB executive apartments in Yishun cross $1m mark

PHOTO: Google Maps

While Yishun doesn't have the best reputation - think cat abuse, stabbings and wild boar attacks - it seems like the HDB flats in the area are still in demand. 

Just recently in May and June, two flats in Yishun were sold for at least $1 million. 

The first flat, a 1,980 sq ft executive apartment (EA) located at Blk 664 Yishun Avenue 4, was sold for an auspicious $1,000,888.00. Its resale registration date was in May and it has 69 years and two months left on its lease, according to HDB's resale flat price data

The second flat, another EA, is located at Blk 608 Yishun Street 61.

The 1,765 sq ft apartment was sold for $1 million. It has 68 years and 11 months left on its lease. This sale was closed in June. 

This comes after an executive flat in Yishun was sold for $1.038 million in February, the second flat in a non-mature estate to cross the million-dollar mark. 

The first time a flat in a non-mature estate ever joined the million-dollar club was back in January 2018, when an executive maisonette in Hougang was sold for $1 million. 

However, it is still too soon to determine if there is a growing trend of million-dollar transactions emerging in non-mature estates as the number of million-dollar flat transactions in such areas is still small, says a report by real estate platform OrangeTee

Additionally, based on the current price trend for Yishun, while more flats were sold for at least $800,000 in the estate last year, this is not a huge number, the report said. For some context, the median price of five-room flats in Yishun was $582,500 in the first quarter of this year. 

More HDB flats joining the million-dollar club 

These two Yishun HDB flats aren't the only ones that are fetching high prices. 

In the last quarter, a whopping 83 flats were sold for at least a million dollars.

Additionally, of all the million-dollar transactions, more flats breached the $1.3 million mark and could be breaking the $1.4 million mark soon. 

One example is a flat at Pinnacle@Duxton, which made headlines back in March after it was sold for a record $1,388,888. 

ALSO READ: Sold for $1.4m: Sellers of Singapore’s most expensive HDB flat may be walking away with a cool $650k profit

melissateo@asiaone.com