A three-room HDB flat at 818A Choa Chu Kang Avenue 1 was recently sold for a record-high price of $530,000 ($735 psf). The 721-sq ft flat is located on the 16th to 18th storeys. This surpasses the previous record-high set last month by another three-room flat at 571 Choa Chu Kang Street 52, which was sold for $516,000 ($715 psf) (see Table 1).

So far this year, 36 three-room flats in Choa Chu Kang have been sold, but the subject flat is the only one to fetch more than $520,000. Including this transaction, only eight three-room flats in Choa Chu Kang have crossed the $500,000 mark this year.

The high price achieved for the subject flat could be attributed to its close proximity to Keat Hong LRT Station, which is just two stops from Choa Chu Kang MRT Station (see Map 1). The MRT station serves as an interchange station for the LRT and North–South Lines.

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Other amenities within walking distance include Keat Hong Shopping Centre and Choa Chu Kang Market. Furthermore, the subject flat is part of Keat Hong Mirage, which has several shops within the HDB project itself. Schools within a 1km radius include Choa Chu Kang Primary School, South View Primary School, Teck Whye Primary School, Choa Chu Kang Secondary School, ITE College West and Jurong Pioneer Junior College.

The long remaining lease of approximately 91 years may also have contributed to the record-high price paid for the subject flat. The lease of the flat commenced in 2017.