Jumbo-sized flat in Ang Mo Kio going for $899,000
By Timothy Tay
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - The owner of a HDB executive apartment at 505 Ang Mo Kio Avenue 8 is selling the property for $899,000. But this unit was originally made up of two adjacent three-room flats when the block was built in 1980.
One flat was originally a corner unit of about 882 sq ft, while the other was a corridor unit that has a floor area of about 731 sq ft. The strata title also includes a 139 sq ft access corridor. When the owners bought both three-room flats about 20 years ago, they successfully applied to HDB to merge them under a single title.
An artist’s impression of the access corridor and renovated living room space. (Picture: REZT+RELAX INTERIOR DESIGN)
As a result, this rare executive apartment has a total floor area of 1,755 sq ft. The asking price translates to $512 psf.
The size of this flat puts it in the category of jumbo HDB flats which range from 1,442 sq ft to about 2,000 sq ft. Jumbo flats were offered by HDB during a period of oversupply in the public housing market during the 1990s, and each flat was created by merging two adjacent units.
Jumbo flats are a relatively rare HDB flat type. According to HDB, only about 480 of these flats were created and most can be found in Woodlands, Yishun and Jurong East, and a few are also located in Tampines and Ang Mo Kio.
Conversion scheme
According to Jason Tan, branch division director at ERA Realty who is marketing the executive apartment, flat owners can still apply to HDB to merge adjoining three-room or smaller flats under the HDB Conversion Scheme.
“For buyers who do not want to go through that process, purchasing a flat that has already been merged is the next best option. The fact that most jumbo flats are in non-mature HDB neighbourhoods such as Woodlands and Yishun adds to the rarity and appeal of this particular jumbo flat in Ang Mo Kio,” says Tan.
The living room of the corner three-room flat. The original dividing wall still separates the two flats. (Picture: Jason Tan/ERA)
The block in Ang Mo Kio is 700m away from the Ang Mo Kio MRT Station, which is connected to the Ang Mo Kio bus interchange and AMK Hub shopping mall. Nearby amenities include Ang Mo Kio Public Library and Ang Mo Kio Polyclinic.
The HDB estate is also close to several schools and educational institutions. Across the road from the block is Anderson Secondary School and Nanyang Polytechnic, and other schools in its proximity are Anderson Serangoon Junior College, Jing Shan Primary School, Deyi Secondary School and Ang Mo Kio Secondary School.
Based on the floorplan, the unit still retains the dividing wall that had originally separated the two flats, with separate living rooms, kitchens and toilets as per the original design.
The owners purchased the two flats about 20 years ago and successfully applied to merge the ownership titles. The property is still in its original condition. (Picture: Jason Tan/ERA)
“When we first listed the flat for sale at the start of April 2021, I scheduled 10 different viewings over the first two weekends. I’m in the process of setting up more viewings in the coming days for other interested parties,” says Tan.
He adds that most buyers who have come to view the unit have indicated that they plan to demolish the dividing wall. “Most of the serious potential buyers who have come to view the unit are looking for a new home that can accommodate their immediate family and some extended family members. There are even a few young couples who are considering this flat as their first home,” says Tan.
Need for renovations
The flat is still in its original condition and some renovations would be needed before the new owner moves in, says Tan. Based on his experience, he reckons that renovations for this flat could range from $100,000 to about $150,000, depending on the type and quality of fixtures and the extent of the renovations.
Tan has also worked with interior designer firm Rezt+Relax Interior Design to produce artists’ impressions of what the unit could look like when renovated. He says that this helps potential buyers visualise the space better and helps them decide if it suits their needs.
An illustration of how the kitchen could be renovated. (Picture: REZT+RELAX INTERIOR DESIGN)
According to HDB sales data, the most expensive jumbo HDB flat sold in the past four years was a 1,786 sq ft flat at 460 Tampines Street 42 that fetched $990,000 (or $554 psf) in October 2018. Six jumbo flats have been sold so far this year, and the most expensive transaction was for a 1,786 sq ft unit at 454 Tampines Street 42 that changed hands for $865,000 ($484 psf) on Feb 12.
Based on resale transactions of adjoined flats in the first quarter of 2021, the most expensive adjoined flat sold was a 1,754 sq ft flat at 556 Ang Mo Kio Avenue 10 which changed hands for $950,000 ($541 psf) on Jan 17, 2021.
The next most expensive resale of an ajoined flat so far this year was another 1,754 sq ft flat at 578 Ang Mo Kio Avenue 10 which fetched $860,000 ($490 psf) when it was sold on April 9, 2021.
While the HDB resale market has seen robust transactions over the past few months and more buyers forking out cash-over-valuation on top of HDB valuations to secure their desired home, Tan says that this particular jumbo flat is unlikely to garner a substantial COV.
“Recent resale transactions in the surrounding blocks show that the current guide price for this unit is still within expectations. While it is a relatively old flat, it is also a rare configuration boasting a huge living space,” says Tan.
He expects the jumbo flat to appeal to a range of buyers, including younger, first-time buyers and older homeowners looking to right-size their home.
Check out the latest listings near 505 Ang Mo Kio Avenue 8, Ang Mo Kio MRT Station, Anderson Secondary School, Nanyang Polytechnic, Anderson Serangoon Junior College, Jing Shan Primary School, Deyi Secondary School, Ang Mo Kio Secondary School
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