Last month, a five-room HDB flat at 279B Sengkang East Avenue was sold for $1.058 million ($878 psf), making it the first million-dollar transaction for five-room flats in Sengkang this year. The 1,206-sq ft flat is located on the 13th to 15th storey. The flat also has a long remaining lease of approximately 89 years, as its lease commenced in 2015.
We used our analytics tool, Is it a Good Deal?, to assess the transaction and determine whether the buyer of this 10-year-old HDB flat in District 19 secured a bargain.
Short walk to Buangkok MRT Station and Sengkang Grand Mall
The five-room flat, located at 279B Sengkang East Avenue, is part of Compassvale Ancilla. It is located opposite Buangkok MRT Station and Sengkang Grand Mall (see Map 1). Other nearby amenities include Compass One, Kopitiam Square, Rivervale Plaza, Rivervale Market and Food Centre, and Hougang Green Shopping Mall.
Source: EdgeProp LandLens (as at 5 May 2025)
There are six primary schools within a 1km radius, namely Anchor Green Primary School, Nan Chiau Primary School, North Vista Primary School, Palm View Primary School, Punggol Primary School, and Seng Kang Primary School (see Screenshot 1).
Source: EdgeProp Is it a Good Deal (as at 5 May 2025)
Another plus point for the flat is its long remaining lease of approximately 89 years. However, the transacted price is higher than the average prices of nearby HDB flats and those in District 19 (see Screenshot 2). This is unsurprising, as the transaction marks Sengkang’s first million-dollar sale transaction of a five-room flat this year.
Source: EdgeProp Is it a Good Deal (as at 5 May 2025)
Three million-dollar five-room flats in Sengkang
Thus far, three five-room flats in Sengkang, including the subject flat, have changed hands for at least $1 million. The other two million-dollar transactions took place last year, and both five-room flats are located at 216B Compassvale Drive. One of the flats was sold in November last year for $1.05 million ($871 psf), while the second was sold in July last year for $1 million ($829 psf) (see Table 1). Hence, the $1.058 million ($878 psf) paid for the subject flat is a record high for five-room flats in Sengkang.
Source: EdgeProp Buddy (as at 5 May 2025)
The number of million-dollar five-room flats in Sengkang is a mere fraction of the total number of such flats islandwide. So far this year, 171 five-room flats in Singapore have fetched at least $1 million for their sellers. Last year, the number of million-dollar transactions for five-room flats islandwide reached a record high of 402 (see Chart 1).
Source: EdgeProp Shortlist (as at 5 May 2025)
Similar to the subject flat, both million-dollar flats along Compassvale Drive also measure 1,206 sq ft. Their leases commenced in 2017, making them two years younger than the subject flat.
The flats along Compassvale Drive are located a short walk from Sengkang MRT Station, Sengkang Bus Interchange, Compass One, and Kopitiam Square (see Map 2). Primary schools within a 1km radius include Nan Chiau Primary School, Anchor Green Primary School, Compassvale Primary School, North Vista Primary School, Palm View Primary School, Seng Kang Primary School, and Springdale Primary School.
Source: EdgeProp LandLens (as at 5 May 2025)
This year’s transactions fetching higher prices
So far this year, six five-room flats along Sengkang East Avenue, including the subject flat, have been sold at prices ranging from $941,000 to $1.058 million (see Table 2). In comparison, seven five-room flats along the same street were sold at lower prices ranging from $818,000 to $960,000 last year.
Source: EdgeProp Buddy (as at 5 May 2025)
Of the six transactions that have taken place this year, three are for flats at 282C Sengkang East Avenue, which is located a stone’s throw from the subject flat. These three flats are the same size and have the same remaining lease as the subject flat.
The popularity of the flats at 282C Sengkang East Avenue could be due to their closer proximity to Buangkok MRT Station and Sengkang Grand Mall, compared to the subject flat. Furthermore, 282C Sengkang East Avenue overlooks Sengkang Ancilla Park (see Map 3).
Source: EdgeProp LandLens (as at 5 May 2025)
Lowest average price for five-room flats
The average resale price for five-room flats in Sengkang ($598 psf) has consistently trended below that of their three-room ($739 psf) and four-room ($658 psf) counterparts (see Chart 2). In addition to having the highest average price, three-room flats in Sengkang also recorded the strongest price growth of 56.6% since 2020, compared to 51.3% for four-room flats and 46.6% for five-room flats.
Source: EdgeProp Market Trends (as at 5 May 2025)
According to HDB’s latest annual report, there are only 4,800 three-room flats in Sengkang, significantly fewer than the 33,596 four-room and 25,710 five-room flats in the same town. The limited number of three-room flats in Sengkang could have contributed to its high average resale price and strong price growth.
The average resale price for five-room flats aged 10 years or younger in Sengkang ($670 psf) trends in tandem with similar flats islandwide ($683 psf) (see Chart 3). Additionally, the average resale prices for such flats in Sengkang (45.3%) and islandwide (43.2%) have grown at a similar pace since 2020.
Source: EdgeProp Market Trends (as at 5 May 2025)
Notably, the subject flat at 279B Sengkang East Avenue transacted at $878 psf, a significantly higher price than the average resale prices for similar flats in Sengkang ($670 psf) and islandwide ($683 psf).
One EC and one condo within 500m radius
There are only two residential developments within a 500m radius of 279B Sengkang East Avenue, namely Sengkang Grand Residences and Esparina Residences (see Map 4).
Source: EdgeProp LandLens (as at 5 May 2025)
Sengkang Grand Residences is a 99-year leasehold condo that obtained its temporary occupation permit (TOP) in 2023, while Esparina Residences is a 99-year leasehold executive condo (EC) that obtained its TOP in 2013. Since Esparina Residences obtained its TOP more than 10 years ago, the development would have been privatised, allowing the owners to transact their units as if the development were a condo.
In addition to being newer than Esparina Residences (573 units), Sengkang Grand Residences (680 units) is also a larger development. Furthermore, Sengkang Grand Residences is integrated with Sengkang Grand Mall and Buangkok MRT Station, providing its residents with much convenience. During its launch weekend in November 2019, the condo achieved a take-up rate of 32%.
Notably, the average resale price for Esparina Residences ($1,623 psf) has consistently trended above that for ECs in District 19 ($1,501 psf) and islandwide ($1,378 psf) (see Chart 4). This is despite the weaker price growth since 2020 recorded for Esparina Residences (47.7%) compared to its counterparts in District 19 (65.7%) and islandwide (60.2%).
Source: EdgeProp Market Trends (as at 5 May 2025)
Likewise, the average price for Sengkang Grand Residences ($2,016 psf) has consistently trended above that for 99-year leasehold condos in District 19 that are 10 years old or younger ($1,958 psf), but below that for similar condos islandwide ($2,331 psf) (see Chart 5).
The high average price for such condos islandwide could have been driven by their significantly stronger price growth of 34.4% since 2020, compared to a price increase of 27.1% for their counterparts in District 19 and 16.4% for Sengkang Grand Residences.
Source: EdgeProp Market Trends (as at 5 May 2025)
Conclusion
The transacted price of $1.058 million ($878 psf) for the five-room HDB flat at 279B Sengkang East Avenue is a record high for five-room flats in Sengkang. So far, only three five-room HDB flats in Sengkang have fetched at least $1 million for their sellers. However, these transactions are the exception, as the average price for five-room HDB flats in Sengkang, aged 10 years or younger, is below that for similar flats across the island.
The completion of infrastructure and amenities tends to boost the demand and prices of surrounding residential properties due to improved convenience and connectivity. Prices for the subject flat and neighbouring flats could have been given a boost by the opening of nearby Sengkang Grand Mall in 2023.
To learn more about this transaction, and whether it is a good deal, click here.
