In the month of September, a spacious 1,367 square foot HDB executive resale flat nestled within the heart of the Bukit Panjang estate transacted at a price of $1.02 million. It marked a historic moment as the first resale flat in this estate to break the million-dollar threshold.

This sought-after flat is perched gracefully between the 28th and 30th floors at Block 181, a well-established development along Jelebu Road that reached its completion in the year 2003. The lease commencement date of the flat was in 2003. Hence, the age of the development was about 20 years.

Bukit Panjang has experienced a scarcity of Build-to-Order (BTO) projects in recent years, with the last BTO launch in the estate dating back to 2016. Consequently, resale properties within this coveted estate of Bukit Panjang have likely become a favoured choice among homebuyers in search of a place to call their own.

The strategic positioning of this development adds to its allure. It enjoys close proximity to key amenities, including the Bukit Panjang MRT station on the downtown line (Estimated 148m), the bustling Hillion Mall, and the Bukit Panjang Integrated Transport Hub with about 5 min walk away. This enviable accessibility to public transportation and shopping centers makes this particular resale flat an attractive and practical option for those seeking a convenient and comfortable living experience in Bukit Panjang.

There are a number of schools located within the 1 to 2km proximity of the HDB resale flat. Schools such as West View Primary School, Zhenghua Primary School, Greenridge Primary School, Bukit Panjang Primary School, Chua Chu Kang Secondary School and West Spring Secondary School.

Source: SRI Research, as of 19 Sept

To-date there has been a total of 322-million-dollar HDB resale deals that have occurred this year (within the first 9 months of 2023) as compared to a total of 369-million-dollar deals occurring in 2022. Over the past few years, a significant number of residential estates across the island have borne witness to the phenomenon of million-dollar transactions, apart from Choa Chu Kang, Jurong West, Sembawang and Sengkang so far.

Prepared By:
Mohan Sandrasegeran
Head of Research & Data Analytics

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