The sale of a five-room flat at City Vue @ Henderson has fetched an eye-watering $1.588 million. Based on HDB resale caveats, the 1,236 sq ft unit is located between the 46th to 48th floors of 96A Henderson Road and was sold earlier this week. The price translates to $1,285 psf on the floor area.

The sum of $1.588 million is the same absolute price that a buyer paid for a five-room flat in Tiong Bahru back in April. That 1,206 sq ft flat at 9B Boon Tiong Road was sold for $1.588 million ($1,317 psf).

Thus, these two resale HDB transactions now share the top spot as the priciest resale HDB flat to date.

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This is not the first time that a resale flat at City Vue @ Henderson has made headline news. Two years ago, the sale of another five-room flat on the 41st floor was the most expensive resale flat at the time. That 1,216 sq ft unit fetched $1.4 million ($1,151 psf) when it was sold in May 2022. It is in the same block, 96A Henderson Road, as the recent $1.588 million transaction.

City Vue @ Henderson, located at the junction of Henderson Road and Tiong Bahru Road, comprises five HDB blocks with a mix of two- to five-room HDB flats. The block where the $1.588 million flat was recently sold is a 48-storey block that boasts panoramic views of the neighbourhood.

Based on the latest resale data as of June 7, there are 349 million-dollar flat transactions so far this year, and the HDB resale market could end the year with more than 700 million-dollar resale flat transactions, says Lee Sze Teck, senior director of data analytics at Huttons Asia. "The higher number of flats sold for a million dollars and more could be due to buyers looking for flats that do not have resale restrictions and could be in demand in the future," he says.