Executive flat in Ang Mo Kio sold for $1.2m, sets all-time-high record for the town

The recent sale of an Executive flat in Ang Mo Kio has set a significant milestone for the Singapore HDB resale market. The flat, situated at Block 616, Ang Mo Kio Ave 4, was sold for S$1,208,888, marking a new all-time high (ATH) for the Ang Mo Kio town.

This article delves into the details of this transaction with some analysis, insights, and comparative analysis.

About Ang Mo Kio

Ang Mo Kio is a well-established HDB neighbourhood located in the central-north region of Singapore. It is known for its rich history and well-developed infrastructure, making it a sought-after residential area. The location offers residents easy access to various amenities and facilities.

The town is conveniently connected by the MRT and a network of bus services, ensuring smooth connectivity to other parts of Singapore. Ang Mo Kio offers numerous shopping centres, hawker centres, and recreational parks, providing a well-rounded and convenient lifestyle for its residents.

The neighbourhood is known for its excellent educational institutions, making it a suitable choice for families.

Schools such as Mayflower Primary School, CHIJ St Nicholas Girls' School, Anderson Primary School, Jing Shan Primary School, Ang Mo Kio Secondary School and Nanyang Polytechnic are well-known and conveniently located within the town.

In Ang Mo Kio, there are various healthcare facilities available, such as the Ang Mo Kio Polyclinic and the nearby Mount Alvernia Hospital, providing residents with access to medical care.

The community in Ang Mo Kio is characterised by a strong community spirit, with multiple community centres and clubs organising a variety of activities and events aimed at fostering a sense of belonging among residents.

About 616 Ang Mo Kio Ave 4

The block is located in a well-connected part of the town, providing residents with convenient access to a variety of amenities. It is within walking distance to MRT stations such as Mayflower MRT, which provide residents easy access to other areas of Singapore.

The surrounding area features numerous shopping options, such as the Ang Mo Kio Hub and Mayflower Market and Food Centre, offering a diverse range of retail and dining choices.

The block is located within proximity to various parks and recreational facilities, including Bishan-Ang Mo Kio Park and Lower Peirce Reservoir Park, providing residents with a balanced mix of urban amenities and natural surroundings.

The architectural design of Block 616 is representative of the HDB flats in Ang Mo Kio, known for their spacious layouts and practical designs. The block accommodates families of various sizes, with units like the recently sold Executive flat offering ample living space.

The low-rise nature of this block, with flats ranging from the first to the third storey, adds to its appeal, offering a more intimate and community-focused living environment.

The proximity of Block 616 to prestigious schools and healthcare facilities increases its appeal, making it a desirable option for families seeking convenience and quality living in Ang Mo Kio.

The record-breaking transaction

On July 1, 2024, an Executive flat located at block 616, Ang Mo Kio Ave 4, was sold for S$1,208,888. This flat has an area of 1,679 sq ft and is situated on a low floor (1 to 3 storeys).

The table below shows the most recent transactions, with the ATH at the top:

Date	Unit	Size (sqft)	Price (S$)	Price (S$, sqft)
07/2024	Floor 1-3	1,679	1,208,000	720
04/2024	Floor 4-6	1,593	970,000	608
08/2023	Floor 7-9	1,604	1,008,000	673
05/2022	Floor 1-3, Unit 1025	1,593	918,000	576
10/2021	Fllor 4-6, Unit 1027	1,604	955,000	595
07/2021	Floor 1-3, Unit 1023	1,593	900,000	564
09/2020	Floor 1-3, Unit 1031	1,593	750,000	470
06/2018	Floor 4-6, Unit 1035	1,593	800,000	502
03/2017	Floor 7-9, Unit 1035	1,604	820,000	511
05/2015	Floor 4-6, Unit 1023	1,593	835,000	524

Recent transactions of 616 Ang Mo Kio Ave 4. Data taken from 99.co Researcher.

Next, we take a look at some insights:

Analytical insights

In this section, we'll cover a few areas of analysis and comparisons, namely the overall and EXE HDB transactions of Ang Mo Kio and Block 616's transactions themselves.

The average price of HDB flats in Ang Mo Kio has increased by 67.40 per cent, reaching S$548,821 in 2024, excluding the ATH covered in this article. The data indicates a general upward trend in prices with some fluctuations, while transaction volumes have varied annually, peaking around 2010 and remaining relatively stable in subsequent years.

The average price of EXE flats increased by 88.64 per cent to reach S$1,080,355 in 2024, indicating an overall upward trend in prices with noticeable market fluctuations. Transaction volumes have shown significant variation each year, with a peak in 2010 and a significant dip in 2024, where only 5 transactions were recorded.

The average price of flats in this block has increased by 87.19 per cent to reach SGD 1,089,444 in 2024. Transaction volumes have fluctuated significantly, with certain years showing low or no activity. The consistent rise in average prices indicates a steady appreciation in value.

The high average price in 2024, despite a low transaction volume of only 2 sales, suggests strong demand and a premium valuation for properties in this block, emphasising its desirability within the Ang Mo Kio estate.

Factors contributing to the high resale price

Several factors have contributed to the record-breaking price of this Executive flat in Ang Mo Kio:

• Prime location: Ang Mo Kio is renowned for its excellent amenities, including top schools, parks, and shopping centres. The town's mature infrastructure and community make it a highly desirable place to live.
• Spacious living: Executive flats offer more space compared to other HDB flat types, making them attractive to families seeking larger living areas. The demand for spacious homes has increased, especially post-pandemic, as more people value comfortable living spaces.
• Connectivity: Ang Mo Kio boasts excellent public transport links, including MRT and bus services, enhancing its appeal to homebuyers who value convenience and accessibility.

Below, we compare Block 616 with its neighbours:

Comparative analysis

The recent transaction has set a record for Ang Mo Kio and is notable compared to other high-value transactions in the town. The national ATH of S$1,500,000 remains unchallenged, and the sale of this flat highlights the increasing trend of high-value transactions in mature estates like Ang Mo Kio.

As such, let's take a look at a comparison of transactions between Block 616 and its neighbours (Blocks 617, 615, and 614):

The data illustrates an overall increasing trend in average prices for all blocks, with Block 616 consistently commanding higher prices, reaching a peak of S$1,080,000 in 2023.

In comparison, Block 617 records the lowest average price at S$704,000 in the same year. Transaction volumes exhibit fluctuations across all blocks, with intermittent spikes indicating varying market activity.

The average prices for Block 616 appear to be higher, indicating that it may be more sought-after than the other blocks, possibly due to specific location advantages or flat characteristics. In contrast, the lower prices and stable trend of Block 617 suggest differing demand dynamics.

Conclusion

The recent sale of an Executive flat in Ang Mo Kio for S$1,208,888 is considered significant in Singapore's HDB resale market.

This sale underscores the desirability of mature estates and the increasing demand for larger residential properties. Such transactions offer valuable insights for buyers and sellers, influencing the trajectory of property investments in Singapore.

ALSO READ: Executive unit in Tampines sold for $1.14m, marking new all-time-high transaction in the estate

This article was first published in 99.co.