SINGAPORE (EDGEPROP) - A five-room HDB flat at Ang Mo Kio Avenue 1, measuring 1,302 sq ft, changed hands for $1,008,888 ($775 psf) in November. It is the second unit in the HDB town of Ang Mo Kio to have crossed the $1 million mark. With a remaining lease of 90 years and 11 months, it is on a floor between 25 to 27 storeys.

The unit is part of the Teck Ghee Vista estate, which comprises a total of 1,221 flats. It was built for residents from Blocks 246 to 252 Ang Mo Kio Avenue 2, 3 and 4, who have gone through the Selective En Bloc Redevelopment Scheme (SERS).

Under the SERS scheme, residents who are living in ageing HDB flats selected for redevelopment are offered priority when buying a new home with a fresh 99-year lease within the same estate, as well as compensation and rehousing benefits. See: VERS versus SERS

The owner of the unit, Derek Yap, who is also a real estate agent, marketed and brokered the unit himself. He says that the unit is very breezy and offers panoramic views towards the park and the city. "Every year, we enjoy the view of fireworks during New Year's Day and National Day," he adds.

Yap says that more than 10 interested buyers have viewed the unit since the flat was put on the market 6 months ago.

Completed in 2011, Teck Ghee Vista is two bus stops from Ang Mo Kio MRT station and AMK Hub shopping centre. It will also be a few minutes' walk to the future Teck Ghee MRT station on Cross Island Line. It faces Bishan-Ang Mo Kio Park, a lush green lung with a skating rink, fenced dog run, cafe and restaurant. Nearby schools include Ang Mo Kio Primary School, Ang Mo Kio Secondary School and Mayflower Secondary School.

The five-room flat at Teck Ghee Vista achieved the second highest psf pricing in Ang Mo Kio, second only to a four-room Design, Build and Sell Scheme (DBSS) unit at 588A Ang Mo Kio Street 52 in the estate of Park Central @ AMK. On a floor between the 28th and 30th storeys, it transacted at $758,888, or $783 psf in November last year.

The DBSS scheme, which has since been phased out, was first introduced by HDB in 2005. Flats under the scheme were developed by private developers. For instance, units at Park Central @ AMK were developed by United Engineers.

Park Central @ AMK is next to Jing Shan Primary School and is within a 10-minute walk to Ang Mo Kio MRT station. Other schools in its proximity include Anderson Secondary School and Deyi Secondary School. Cheng San Market & Cooked Food Centre is right opposite the estate.

In June last year, a jumbo HDB flat comprising two adjoining three-room flats at Ang Mo Kio Avenue 5 was the first to cross the million-dollar mark in the estate. With 59 years left on the lease at the time of sale, the 1,916 sq ft flat changed hands for $1.03 million ($538 psf). Aside from being surrounded by amenities in a mature estate, it managed to fetch such a high price as it was renovated and tastefully furnished by a pair of interior architects.

Highest HDB resale transactions in Ang Mo Kio in the past 12 months 

Source: HDB Resale Flat Prices, EdgeProp Singapore

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