A premium five-room HDB flat at Skyoasis @ Dawson, on Margaret Drive, has set a new HDB resale record when the 1,195 sq ft unit was sold for $1.73 million on June 26. The selling price translates to $1,444 psf.

According to a press release issued by ERA Realty on July 22, the record-breaking sale was facilitated by Faith Wong, senior marketing director at ERA Realty.

This record-breaking sale trumps the previous record price in the HDB resale market, which was set just last month when a 1,236 sq ft, five-room unit at City Vue @ Henderson changed hands for $1.588 million ($1,285 psf). In April, a five-room flat at Tiong Bahru View, at 9B Boon Tiong Road, was transacted for $1.588 million ($1,317 psf).

Read also: Is it a Good Deal?: $1.568 million for a HDB in Bishan

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According to Wong, the record-breaking unit at Skyoasis @ Dawson is a corner unit on the 45th floor, and the sellers were a local family. She adds that the unit had only been on the market for just under a month before it was sold.

Despite its initial asking price of $1.838 million, the property saw competing bids by two sets of motivated buyers before finally closing at a price of $1,725,888, says Wong.

She adds that the buyers are a family with young children that appreciated the unit’s attributes such as space, modern amenities nearby and strategic location. “For a private property in this area of this size and age, you would typically expect to pay around $3 million,” says Wong.

Notably, the unit sold was only 3.5 years old with 96 years remaining on its 99-year lease. The property’s status as a replacement flat under the Selective En bloc Redevelopment Scheme (SERS) allowed the owners to sell the unit after seven years from registration, or five years from the date of key collection – whichever is earlier, explains Eugene Lim, key executive officer at ERA.

Typically, new Build-to-Order (BTO) units require a mandatory occupancy period of five years from key collection before owners are permitted by the HDB to sell their flats on the secondary market.

Completed in 2021, Skyoasis @ Dawson is a 1,192-unit HDB estate in District 3. It comprises of six residential blocks ranging from 26- to 45-storeys in height and houses two- to five-room flats. The project is within walking distance of Queenstown MRT on the East-West line and adjacent to Queenstown Primary School on Margaret Drive.

Read also: Most expensive HDB in Bishan sold for $1.568M, 4th highest in Singapore

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