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Four-room flat at City Vue @ Henderson sells for $1.08 mil

August 1, 2023 4:59 PM SGT

The four-room flat, located between the 30th to 33rd floor at 95C Henderson Road was sold in less than five weeks.

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A 1,001 sq ft, four-room flat at City Vue @ Henderson has set a record in the estate for the sale of a four-room flat on the resale market, selling for $1.08 million ($1,087 psf) on June 11 when the buyer and seller signed the option to purchase. This trumped the previous record set by a four-room of the same size, which was sold for $1.04 million ($1,038 psf) on March 16. Another 1,001 sq ft four-room flat was sold for $1.039 million ($1,038 psf) on Oct 25, 2022.

Jermain Eu, PropNex Realty’s associate advisor and the seller’s agent, closed this deal. It is his first successful resale transaction since becoming an agent at the start of this year, and he is also a member of a division headed by veteran agent Aaron Wan.

Eu had the opportunity to sell the four-room flat while going door-to-door around City Vue @ Henderson in May this year. He says that many units in the estate have reached their minimum occupation period over the last few months.

This was how he encountered the seller of the flat, who was looking to move to a different area since her flat had reached its MOP last year. Eu says the owner was a beneficiary of the Selective En bloc Redevelopment Scheme (Sers) exercise

The four-room flat, located between the 30th to 33rd floor at 95C Henderson Road, features views of the River Valley and Orchard Road areas. Eu says he started actively marketing the flat sale at the end of May and facilitated 15 separate viewings for prospective buyers.

The view from the living room of the four-room flat at City Vue @ Henderson that fetched $1.08 mil in June. (Picture: Jermain Eu/PropNex Realty)

The seller had put up an initial asking price of $1.04 million to match the previous high in the estate. However, a buyer approached them with an offer of $1.08 million after the flat had been on the market for less than five weeks.

Eu noticed that the potential buyers he met were mainly interested in the neighbourhood’s four- and five-room flats. He adds: “I found that most of these buyers were willing to pay a million-dollar sum for a flat in what they consider a prime HDB estate.”

Despite the strong buying interest, many City Vue @ Henderson owners are reluctant to sell their flats now, says Eu, adding that several owners intend to enjoy the benefits of living in such a central location for at least 10 years. “It is just a matter of time before we see the four-room flats at City Vue @ Henderson breach the $1.1 million threshold. This could happen before the end of this year.”

Details on recent sales and unit mix at City vue @ Henderson can be found on EdgeProp Singapore.

Eu predicts that the limited new BTO supply and increasing number of flats reaching their MOP will drive up prices in this area. He also believes that sellers will have the advantage in negotiations due to the area’s appeal, allowing them to ask for higher prices confidently.

In the area, five-room flats are already priced above $1.3 million. Last year, a record-breaking sale of a 1,216 sq ft unit on the 41st floor was sold for $1.4 million ($1,151 psf) on May 18, making it the most expensive HDB resale transaction. However, this record was later surpassed by the sale of a jumbo flat in Tiong Bahru, reportedly sold for $1.5 million in June.

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