5-room DBSS at Park Central @ AMK sells for S$1.268M, setting town record

SINGAPORE: In February, Ang Mo Kio town witnessed a landmark resale flat transaction at Park Central @ AMK, breaking records with a selling price of S$1.268 million for a five-room Design, Build, and Sell Scheme (DBSS) public housing unit.

According to official records, the unit is situated between the 13th and 15th floors in Block 588C Ang Mo Kio Street 52.

Spanning an impressive 1,292 sq ft, the unit boasts a remaining lease of 86 years.

As part of the DBSS scheme, this development is one of 13 projects in Singapore that combines public housing with private developer input.

As reported by Chinese media outlet Shin Min Daily News, the sellers, a couple in their 60s, disclosed that their children had moved out to start their own families. In response to their changing needs, the couple decided to downsize their home.

The buyers of the flat, on the other hand, comprise a family of four.

Strategically located, the HDB flat is near Jing Shan Primary School, Anderson Secondary School, and Nanyang Polytechnic.

Furthermore, it offers convenient access to Ang Mo Kio MRT station, making it an ideal residence.

This resale transaction not only marks a significant milestone but also sets a new record for the highest resale price of HDB flats in Ang Mo Kio, surpassing the previous record set in 2023.

Back then, a 1,894 sq ft HDB flat in Block 418 Ang Mo Kio Avenue 10 was sold for S$1.2 million, with a remaining lease of 55 years.

470 HDB resale flats sold for at least S$1 million in 2023

In 2023, there were 470 HDB resale flats sold for at least S$1 million, up from the 369 units sold in 2022, as disclosed by data from the Singapore Real Estate Exchange (SRX) on 7 January.

These million-dollar transactions constituted approximately 1.8% of the total resale transactions in 2023.

According to statistics released earlier by the HDB, the prices of HDB resale flats experienced a more modest increase of 4.9% in 2023, compared to the substantial 10.4% surge observed in 2022.

The HDB’s Resale Price Index (RPI) for the fourth quarter reached 180.4, reflecting a 1.1% increase over the third quarter of 202.

This growth rate is lower than the 1.3% recorded in the third quarter of 2023 and the average quarterly growth of 2.5% observed in 2022.

In terms of resale transactions, there was a 2.2% decline in the fourth quarter of 2023, with 6,547 cases compared to the 6,695 cases in the third quarter of the same year.

Additionally, when compared to the fourth quarter of 2022, resale transactions in the fourth quarter of 2023 were 0.8% lower.

This volume also represents the lowest fourth-quarter figure since 2020.

For the entire year of 2023, the total resale volume decreased by 4.2%, dropping from 27,896 cases to 26,735 cases, according to HDB.

In January, a five-room DBSS flat at 139A Lorong 1 Toa Payoh set a record, selling for S$1,568,888—the highest price ever for a resale flat in Singapore.