A five-room HDB flat at 7 Boon Keng Road was recently sold for $1.54 million ($1,202 psf). The 1,281-sq ft flat, located on the 25th to 27th storeys, is part of a Design, Build and Sell Scheme (DBSS) project known as City View @ Boon Keng.

The recent transaction surpassed the previous record high of $1.49 million ($1,163 psf) set in May by another five-room flat in the same DBSS project. That flat is located at Block 9 and on the 22nd to 24th storeys. So far this year, these two flats in City View @ Boon Keng are the only ones that have fetched more than $1.4 million for their sellers (see Table 1). They also represent the highest prices paid for a five-room flat in the Kallang/Whampoa HDB town.

The lease of the DBSS project commenced in 2011, leaving it with a remaining lease of approximately 85 years. The long remaining lease likely contributed to the high prices.

Read also: A five-room flat in The Pinnacle @ Duxton hits a record-high of $1.6 million

Another contributing factor could be City View @ Boon Keng’s close proximity to amenities. Boon Keng and Bendemeer MRT Stations are within walking distance of the project, providing residents with easy access to the North-East and Downtown Lines (see Map 1). Other nearby amenities include Bendemeer Market and Food Centre, Bendemeer Shopping Mall, and the Central Expressway.

There are also five primary schools within a 2km radius, which will appeal to parents with young children. The nearby primary schools include St. Joseph’s Institution Junior, St. Andrew’s Junior School, Hong Wen School, Farrer Park Primary School, and Bendemeer Primary School.