Recently MOP-ed Kallang/Whampoa BTO flat sets all-time-high record in estate, selling for $1.33m

A few weeks ago, we wrote about how two recently MOP-ed units in Bidadari and Ang Mo Kio sold for up to $1.2 million, with sellers likely netting around $700k in a short holding period. Shortly after, we reported on a four-room flat in Toa Payoh Crest that fetched $1,200,888, largely due to its nearly full lease of 93 years. In the same vein, a five-room resale unit in a recently MOP-ed project has set a new estate record in Kallang/Whampoa, selling for $1.33 million.

The $1.33M 5-room unit in Kallang Trivista

The property is located in Kallang Trivista, specifically in Block 8C on Upper Boon Keng Road. The flat, sitting on a floor between the 10th and 12th levels, features a spacious 1,216 square feet. With a selling price of $1.33 million, that equates to a price of $1,093 per square foot (psf).

One of the appealing aspects of this property is its relatively long lease. Having commenced in 2017, the flat still has 91 years and 11 months remaining on its 99-year lease.

Location-wise, is Kallang Trivista worth it?

Kallang Trivista's appeal goes beyond its lengthy remaining lease. It's situated in a prime spot in Kallang/Whampoa, close to two MRT stations. The nearest, Kallang MRT Station (EW10), is only a four-minute walk away. This convenience makes commuting a breeze. And if you don't mind travelling a little further - about a three-minute car ride via Boon Keng Road - you'll reach Bendemeer MRT Station (DT23).

Living in Kallang Trivista gives you access to a wide range of amenities right at your doorstep, with its central location between Geylang and Kallang. Upper Boon Keng Market and Hawker Centre is located directly across the road, providing easy access to fresh food and affordable meals. For your grocery needs, there's a Sheng Siong supermarket right nearby. Malls such as Aperia Mall, City Square Mall and PLQ are all a quick drive away, with travel times ranging from three to nine minutes.

For nature lovers, Kallang Trivista offers the added bonus of being located next to Kallang River. You'll enjoy scenic river views and easy access to the Kallang Park Connector, perfect for cycling or leisurely walks. For even more greenery, you can head to Kallang Riverside Park, which is just a 13-minute walk or a three-minute drive from the project.

While the location seems ideal for most, one downside worth noting is the lack of primary schools within a one kilometre radius. However, for those who aren't concerned about proximity to schools - such as retirees downsizing or singles - this won't be an issue. There are several schools located within a one to two kilometres radius, including Bendemeer Primary School, Canossa Catholic Primary School, Geylang Methodist School (Primary), Hong Wen School, Kong Hwa School, and St. Andrew's Junior School. Additionally, there are international schools nearby, such as Olympiad International School and EtonHouse International School.

Kallang Trivista sales trend analysis

The sale of this $1.33 million unit is not an isolated case. In fact, Kallang Trivista has seen 20 sales above the $1 million mark, making it a hot spot for high-value HDB resale transactions. Of these, six sales have surpassed the $1.2 million threshold, including the most recent record-breaking sale.

Here's a quick rundown of the top transactions at Kallang Trivista:

Interestingly, the previous record-holder in the project wasn't even a five-room unit but a four-room flat that sold for $1,300,888 in October 2023. The current record sale of $1.33 million is only $30,000 (2.24 per cent) more but came from a unit nearly 200 square feet larger. One possible reason for this difference in pricing could be the higher floor level of the previous unit (between the 28th and 30th floors), which likely offered stunning unblocked views of Kallang River.

In fact, that $1.301 million sale is also the second most expensive four-room flat in all of Singapore, just behind SkyTerrace @ Dawson's $1.38 million sale.

When comparing the current sale price to the average in Kallang Trivista, it's clear that the buyer paid a premium. The average price for five-room units in the project stands at $1,206,667, meaning the $1.33 million sale represents a 10.22 per cent premium. However, for some buyers, the location, size, and views justify the added cost.

Over the past three years, average price trends at Kallang Trivista have seen some fluctuations. From 2021 to 2022, there was an 8.83 per cent increase, followed by an 11.85 per cent rise from 2022 to 2023. However, between 2023 and 2024, prices dipped slightly by 3.53 per cent. Currently, the overall average price for units in the development is $942,933, though some units are listed on 99.co for as low as $828,000.

Kallang/Whampoa estate at large

Looking beyond Kallang Trivista, there have been other notable sales in the Kallang/Whampoa estate, particularly those surpassing the $1.3 million mark. Apart from the $1.33 million and $1.301 million sales at Kallang Trivista, two other sales have come from the DBSS units at City View @ Boon Keng. Additionally, an HDB Executive flat at 46 Bendemeer Road fetched $1.318 million.

However, these DBSS units are slightly smaller in size, ranging from 1,173 to 1,152 square feet, compared to the more spacious 1,216 square feet of the Kallang Trivista unit. The key tradeoff for these high prices seems to be the floor level - most of the units sold for over $1.209 million were located on floors 15 and above.

As the property market continues to develop, especially in prime areas like Kallang/Whampoa, it's likely we'll see even more high-value transactions, driven by the premium location and limited supply of available units.

ALSO READ: $1.2m Toa Payoh flat ranks among Singapore's top 10 most expensive 4-room sales

This article was first published in 99.co.