Bedok's first million-dollar flat snapped up in a month

PHOTO: Shin Min Daily News

With an asking price of over $1 million for a HDB flat, it would have been understandable for prospective buyers to pause for thought before committing to such a purchase. 

But one month was all it took for a jumbo flat in Bedok to be sold, joining the exclusive and ever-growing 266 million-dollar HDB resale flat transactions in 2022 so far.

This exceeds the 259 units recorded in the whole of 2021, according to HDB data. 

Speaking to AsiaOne on Tuesday (Sept 27), Lee Jun Wei of PropertyLimBrothers, one of the brokers of this deal, shared he was "not surprised at all" about the level of interest shown towards the flat at Block 629 Bedok Reservoir Road.

More than five groups of potential buyers had viewed the flat since it was listed in early August, Lee said, adding that it was sold for around $1.04 million on Sept 17. The seller had an asking price of $1.15 million for that unit. 

"Demand was very healthy, [since] this is a pretty rare find," Lee shared.

While describing how the size of the flat was also an "attraction factor", Lee declined to reveal the identity of the buyers when asked by AsiaOne, citing privacy reasons. 

At 173 sqm, this jumbo flat was formed by merging a three-room flat and a four-room corner unit, Lee said in a walkthrough video shared on YouTube on Aug 29.

PHOTO: Screengrab/YouTube

Completed in 1993, the unit, located on the high-floor, has a remaining lease of around 69 years.

Jumbo flats are a rarity since they are only available in the resale market, with only 2,900 of such units in Singapore, the Straits Times reported in 2017. 

A quick search on HDB's resale website show that the last transacted large HDB unit at Bedok Reservoir was a 150 sqm large executive maisonettes sold at $800,000 in September. That unit has 62 years remaining on its lease. 

Another plus-point of the flat, according to Lee, is its location – Block 629 is a short walk away from Bedok North MRT Station.

The block is also situated opposite a wet market and coffee shops, and a Fairprice outlet is also close in the vicinity.

Other estates had also seen million-dollar resale flats in the same month.

A 154 sqm executive maisonette in Tampines changed hands for a cool $1.013 million, while a five-room unit at Toa Payoh was sold for $1.35 million.

chingshijie@asiaone.com