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by OrangeTee & Tie Pte Ltd.

Ang Mo Kio five-room flat sells for $1,008,888

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SG, 03 Dec 2020

Mr Derek Yap sold his five-room HDB unit in Ang Mo Kio for$1,008,888. This is only the second time a flat in the estate has been sold for more than a million dollars, according to Edgeprop.sg.

Fifty-nine flats were sold for more than a million dollars in the first 10 months of this year. Ms Christine Sun, head of research and consultancy at OrangeTee & Tie, told TNP that this year's numbers may surpass last year's total of 64. 

She said: "The high number of million-dollar HDB transactions may have coincided with the collective sale fever. Some are able to pay the flats in full after collecting their payouts from the collective sales." Ms Sun added that government measures such as the Voluntary Early Redevelopment Scheme may have boosted market sentiment.

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