4-room flat in Queenstown sold for close to $1.24m, setting new resale record

The Housing and Development Board (HDB) resale market in Singapore has demonstrated remarkable endurance and expansion in recent times.

The latest record-breaking transaction in Queenstown, where a 4-room flat was sold for an impressive $1,238,000, serves as proof of this thriving market.

This sale not only establishes a new standard but also underscores the constant demand for prime residential locations in Singapore.

Overview of the transaction

A noteworthy transaction occurred on April 1, 2024, in the HDB resale market at 90 Dawson Road in the centre of Queenstown. This flat spans 109 sq m and is on a high floor between the 19th and 21st levels.

What makes this sale stand out is the sale price of S$1,238,000, matching the locality's ATH price, and marking the highest price ever paid for a 4-room flat in Queenstown. Like many other flats in the area, this sought-after asset offers proximity to essential amenities and excellent connectivity.

There was another S$1 million ATH that happened back in January 2024.

About Block 90 Dawson Road

The units available at 90 Dawson Road HDB Block are priced between S$800,000 and S$800,000. This property is conveniently located within walking distance of Queenstown MRT and Queenstown MRT stations, providing easy access to other parts of Singapore. Young couples or families with children will appreciate the proximity to Queenstown Secondary School, Ignite Tennis Academy, and MindChamps PreSchool @ Tanglin.

If you're looking for nearby grocery stores, check out Sheng Siong-Dawson Supermarket or Our Indian Grocery Store. You'll also have access to medical care with nearby clinics such as The Dental Gallery Dawson. Alexandra Post Office is the closest, while ABL ASIA offers monetary services.

For leisure and entertainment, visit the local park — Kids Playground — and enjoy the fresh air.

Analysis of Queenstown's real estate market

Queenstown, a highly desirable residential area in Singapore, is renowned for its prime location. It provides unmatched convenience to the Central Business District, prominent retail destinations, and a plethora of leisure activities. The region is also recognised for its reputable educational institutions, making it a popular choice among families.

Over time, Queenstown has consistently experienced an increase in real estate values. The fact that a 4-room flat in this area has previously achieved an all-time high emphasises the sustained appeal of the neighbourhood, with prices reflecting the strong demand. This latest transaction further affirms the trend, indicating a thriving local market that supports elevated property values.

Implications of the ATH price

The ATH transaction in Queenstown represents more than a mere transaction — it is a reflection of the larger market trends. The high resale value signals a robust appetite for quality homes in prime locations. This demand is fueled by several factors, including urban redevelopment initiatives, infrastructure improvements, and government policies aimed at enhancing living standards.

While this presents an attractive prospect for prospective homeowners and investors, it also poses affordability challenges. Residents and investors must consider these dynamics carefully when making decisions about buying or selling property.

Conclusion

The recent sale of a 4-room flat in Queenstown at a record-breaking price serves as a significant indicator of the robustness and dynamism of Singapore's HDB resale market.

The transaction underscores the appeal of Queenstown as a residential destination and sets a benchmark for future resale activities in the area. The sale price has important implications for market participants, as it reflects the prevailing supply and demand dynamics, as well as the broader economic conditions that shape the real estate sector.

As such, the sale is likely to be closely monitored and analysed by researchers, policymakers, and industry professionals seeking to gain insights into the trends and drivers of Singapore's property market.

ALSO READ: HDB resale prices up for 6th straight month - are million-dollar flats to blame? Analysts weigh in

This article was first published in 99.co.