Bukit Panjang records 2nd million-dollar flat in less than a year

In less than a year, another flat in Bukit Panjang has changed hands for over a million dollars.

Based on HDB data, the 126 sq m premium apartment, which was sold last month for just over $1m, is located somewhere on the 22th to 24th floor of Block 184 Jelebu Road.

Unlike standard flats, premium apartments come furbished with full-height windows, tiling and built-in wardrobes, according to Stacked Homes. 

Built in 2003, the flat has 78 years on its lease. 

The ERA agent who brokered the deal told Shin Min Daily News that the sellers learnt that a nearby flat in Block 181 was sold for $1.02 million last September, and was confident about asking for a similar amount.

"They are high income white-collar workers and are planning to buy a condominium after selling the flat," he said. "They were not in a hurry to sell and were willing to wait until a suitable buyer came along."

The property agent said that the unit attracted a host of interest from potential buyers due to the nearby amenities.

The flat is located right across from the Bukit Panjang integrated transport hub, Bukit Panjang Plaza and Hillion Mall.

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Eventually, the flat was sold to a young couple, the agent said. Since the unit is close to their parents' home, the first-time buyers can also receive the $20,000 proximity grant.

"They are willing to buy the unit at a higher amount so that they can live there for a long time," he said, adding that the unit has enough rooms and space for them to start a family.

"Their parents can also help take care of their children, and the unit is in good condition. They can move in quickly without spending much time and money on renovations."

Premium apartments 'rare' in resale market

Last September, a 127 sq m executive apartment on the 30th floor of Block 181 Jelebu Road changed hands for $1.02 million.

It was the first HDB flat in Bukit Panjang to cross the $1 million mark.

And in November 2023, another executive apartment on Block 181 Jelebu Road was sold for around $960,000.

Eugene Lim, key executive officer of ERA, told Shin Min Daily News that such flats are rare and expensive in the resale market since the government no longer builds them. 

He added that the high floors, which gives home owners unobstructed views, and an MRT station and shopping malls within walking distance, add to the appeal.

ALSO READ: 4-room flat sold for $1.15m, breaking Toa Payoh resale record

chingshijie@asiaone.com