This 5-room HDB flat in Henderson is on sale for $1.8 million

As shocking as the new normal of HDB resale flats may be, the sometimes high price could be justified. Concrete example: this 5 room apartment in City Vue @ Henderson carries an asking price of $1.8 million. If you just look at these numbers, you might laugh like another greedy seller who wants to sell their house for quick cash. But upon closer inspection, this apartment has many reasons why it deserves a million-dollar price tag.

Carrara marble and French terrazzo flooring

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Rest assured that with the price you pay for this unit, you will not be greeted with a cheap vinyl covered floor. The apartment was renovated when the original owners moved in. They replaced the kitchen and living room flooring with premium Carrara marble from Italy and French terrazzo tiles.

Take a look at the French terrazzo tiles in the dining room and the Carrara marble in the living room.
Image credit: Debra Teoh/PropertyGuru

It certainly wasn’t cheap. Plus, as the TOP of the development was in 2018, the unit is super new and the renovation would still hold up quite well.

Image credit: Debra Teoh/PropertyGuru

The rooms, however, were covered in walnut-colored tiles instead of marble or terrazzo. Having high quality flooring ready to go would definitely save you money if you are not planning on doing any major renovation work.

A corner unit on a high floor and a superb view

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This 5-room HDB apartment in Henderson has all the makings of an ideal unit. It offers 1,216 square feet of space, is a corner unit located on a high floor, and offers wonderful views of the surrounding neighborhood.

A look at the brochure of the BTO development also showed that Block 96A has only 4 units on each floor, from the 30th to the 48th floor.

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Looking at past resale transactions in this development, similar units have transacted between $1.2M and $1.45M, although the “cheapest” unit was resold in 2021, before prices do not reach today’s figures.

Lease remaining to run for approximately 94 years

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The lease term is another factor that can determine the price of an HDB resale flat. You wouldn’t see an apartment with a lease term of less than 50 years put on the market for around a million dollars. Conversely, the “fresher” the HDB flat, the more it can command, which is probably why this 5-room HDB flat in Henderson is asking $1.8M.

However, given that many of the recent record-breaking apartment resale transactions only hit the $1.5 million mark, it’s a bit unrealistic for an apartment with 94 years remaining to ask $300,000 more than the most expensive HDB flat ever sold so far.

5-room HDB apartment in Henderson on sale for $1.8 million

Image credit: Debra Teoh/PropertyGuru

This 5-room HDB flat in Henderson may not be a giant fake flat in Sengkang that costs $2 million, but it will still cost anyone at least $1.8 million. Asking at least $300,000 more than the most expensive HDB flat ever sold – to date – is frankly a bit out of pocket.

Even with the newly renovated interior and all the marble, this home would only be considered by a homeowner who can afford to spend nearly $2 million on an apartment and doesn’t want to pay for a renovation. After all, there’s no point paying extra for a converted HDB flat and hacking the results.

You can consult the register on PropertyGuru here.

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Cover image credit: Debra Teoh/PropertyGuru