A 5-room HDB flat in Sengkang was sold for S$928,000 in February 2023, according to property portal 99.c0.
The 1,206 square foot flat is located in Block 216C at the Compassvale Mast estate along Compassvale Drive.
It is located somewhere between the 10th and 12th floor.
This is the second instance where a flat in the estate was sold at a similar price.
In November 2022, a similarly-sized flat at Block 216A of the same estate, but on a higher floor range, was sold at the same price, 99.co wrote.
Prime location
A check on Google Maps revealed that the flat is located right in the central area of Sengkang, with a diverse set of amenities situated close by.
Block 216C sits across the road from Compass One, with a Cold Storage located inside.
Compass One shares its space with transport nodes such as Sengkang MRT and LRT stations and Sengkang bus interchange, making it easy for residents to get around.
The block is also within spitting distance from Kopitiam Square, which features an indoor food court and wet market.
Sengkang Community Club, which houses Sengkang Polyclinic and a Singapore Post branch, is located right behind Kopitiam Square.
Sengkang General Hospital is just six minutes away by foot.
The estate is also within one kilometre from schools such as Nan Chiau Primary School, Sengkang Primary School and Nan Chiau High School.
93 years left on lease
Compassvale Mast is a relatively new estate, having launched as a BTO project back in 2012.
The project was completed in 2017, and units were handed over to owners the same year, according to 99.c0.
This suggests that owners of the recently sold flat had only just met their Minimum Occupancy Period of five years.
The unit is likely to have around 93 years left on its lease, 99.co wrote.
The lengthy remaining lease, as well as its convenient location, possibly adds up to the high price tag.
Data found on PropertyGuru shows that flats at Block 216C has sold for upwards of S$570,000 since 2021.
The property site also indicates that it is not uncommon for flats in the block to fetch between S$700,000 to S$900,000.
https://mothership.sg/2023/02/sengkang-flat-high-price/
