Cheng San Court: Decoding the success behind Ang Mo Kio's 4-room HDB flat $1m record-breaking sale

In the realm of property, few feats capture attention like breaking the million-dollar ceiling.

Cheng San Court, specifically, a four-bedder in Block 591A, has recently become the talk of the town for this exact reason.

Behind this record-setting sale stand Jerlyn Ng and Javier Sito. Their journey provides unique insights into the essence of this sale and the vibrant landscape of Ang Mo Kio.

Digital connectivity: A bridge between buyer and seller

In the ever-evolving field of real estate, digital connectivity plays a pivotal role.

Through the strategic use of Google Pay Per Click (PPC), Jerlyn Ng and Javier Sito found a bridge between seller and buyer, laying the foundation for this transaction.

Precision in pricing: A delicate balance of aspirations

Deciding the sale amount was no easy task.

As shared by the agents, "The sale amount was meticulously determined through detailed analysis of surrounding transactions, ensuring an optimal balance between market value and the seller's aspirations."

Why was the buyer so keen on Cheng San Court?

"The buyer's eagerness stemmed from a dual aspiration: to upgrade their living space and explore property investment opportunities. This made Cheng San Court an ideal choice.", shared Jerlyn Ng and Javier Sito.

Cheng San Court's allure: Where convenience meets modernity

Cheng San Court's desirability was rooted in its strategic location and offerings. Nestled in the heart of Ang Mo Kio, it provided access to essential facilities like AMK Hub, Ang Mo Kio MRT, and a bustling wet market.

Yet, its uniqueness lay in being one of the youngest flats in the area, adding a contemporary charm that resonated strongly with potential buyers.

Cheng San Court: A consistent choice

Examining the trend of the last four four-room HDB sales in Ang Mo Kio, all within Cheng San Court's Block 591A, revealed a consistent pattern.

"The block's higher floors offered stunning, unblocked views. Proximity to MRT stations and nearby primary schools also made it an ideal choice for families, further contributing to its appeal.", said the agents.

Riding the economic shift: Factors behind property value surge

The surge in property value from 2020 (S$451 psf) to 2023 (S$642 psf) can be attributed to several factors, as shared by the agents.

Firstly, the pandemic led to government aid and financial support, creating a conducive environment for investments. Additionally, travel restrictions during this time meant that individuals sought alternative avenues for their funds.

Property, with its stability and potential for appreciating value, became an attractive option for investment, leading to the observed increase in property values.

Overcoming challenges: Breaking the million-dollar barrier

Breaking the psychological barrier of a million-dollar price tag for an HDB flat demanded finesse. Objections arose, questioning the value proposition and Cash-over-Valuation.

"Nobody wants to pay a million dollars for an HDB flat", shared Jerlyn and Javier.

Ultimately, it was the belief in the unique offerings of Cheng San Court that helped overcome these hurdles.

Ang Mo Kio's enduring appeal: A market reflection

"This sale was not just a standalone event but a reflection of Ang Mo Kio's real estate market.", they noted.

It spoke volumes about the enduring strength and maturity of the estate. "Residents and potential buyers these days are willing to invest a premium for space, convenience, and scenic views.", they add.

What can Ang Mo Kio residents expect?

Looking ahead, Ang Mo Kio's future appears promising.

With an influx of young couples, families, and retirees seeking comfortable abodes, the demand for quality living spaces is on the rise. As a central area, Ang Mo Kio's appeal remains strong, attracting both existing residents and newcomers.

When questioned about the likelihood of more million-dollar transactions in the area, Jerlyn and Javier confidently affirmed, "Yes, definitely".Ang Mo Kio's enduring appeal: A market reflection

Strategies crucial for sellers looking to maximise the value of their properties in the current Ang Mo Kio market

"Stop waiting for prices to go up", the agents said.

Waiting indefinitely risks the property's age catching up. Additionally, presenting the home in a clean, minimalist manner appeals to buyers, showcasing its potential without overwhelming them. This will help the property fetch a higher price.

ALSO READ: Ang Mo Kio records first million-dollar 4-room flat transaction

This article was first published in 99.co.