Last month, a four-room HDB flat at 272D Punggol Walk was sold for $835,000 ($843 psf). The 990-sq ft flat is located on the 13th to 15th storeys.

Thus far this year, 479 four-room flats in Punggol have changed hands, but only two have fetched at least $830,000 (see Table 1). The second flat is located on the 13th to 15th storeys of 271B Punggol Walk. The 1,001-sq ft flat was sold for $830,000 ($829 psf) in April. Both flats are a stone’s throw away from each other.

Factors contributing to the record-high prices for both flats could include their close proximity to Punggol MRT Station, Punggol Bus Interchange and Waterway Point (see Map 1). Primary schools within a 1km radius include Compassvale Primary School, Edgefield Primary School, Punggol Cove Primary School, Punggol Green Primary School, Punggol View Primary School and Valour Primary School.

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Another factor could be both flats’ long remaining leases of 88 years, as their leases commenced in 2014.