Ang Mo Kio 5-bedroom flat sells for record-high price at $1.48M

SINGAPORE: A five-room flat at Ang Mo Kio fetched a record price for resale flats in the area, having been sold for an eye-watering $1.48 million, according to a report on Monday (Mar 3).

The flat is located at DBSS Park Central @ AMK, 588A-D Ang Mo Kio Street 52 and has an area of 119 sq m. Its remaining lease term is 85 years and 7 months.

Previously, the most expensive resale flat transaction had been for an HDB flat in Teck Ghee Vista. This five-room unit, reported in The Independent Singapore (TISG) on Sept 11, 2024, exchanged hands for a cool $1.3 million. TISG noted at the time that a surge in the resale property market in the vicinity had been triggered by the construction of the Cross Island Line MRT.

Ang Mo Kio saw its first million-dollar transaction for a four-room resale flat in October 2023. The flat, located between the 31st and 33rd floors of Block 591A, Ang Mo Kio Street 51 at the time, had 94 years and four months remaining on its lease.

The new record-setter is significantly more expensive than other resale flats in the area, although, as a report in The New Paper pointed out, this does not mean that other would-be homebuyers would be willing to shell out the same amount for similar-sized flats located there.

The lease start date of the 578 units at Park Central @ AMK DBSS is July 2011. Its show flat immediately attracted a lot of attention, according to a report in Stacked Homes, which noted the desirability of its location, given that both the MRT and AMK Hub were within walking distance. A park and good amenities are also close by.

Among the units, 278 have already been resold, Shin Min Daily News said. Thirty-three of the five-room resale units have fetched prices above one million dollars. Like the record-breaking unit, seven others are also located at Block 588D and had price tags between $1 million and $1,188,800.

The $1.48 million resale flat was last resold in August 2018 for $850,000, showing a significant price increase in under seven years.

99.co has another five-room unit in the area listed on its site priced at $1,338,000, or $1,109 per square foot. Located at 588C Ang Mo Kio Street 52, it is partially furnished, has marble flooring and a marble feature wall, and has been extensively renovated. /TISG

Read related: 5-room flat in Ang Mo Kio sold for record $1.3M, as Cross Island line boosts resale market