Recently MOP-ed HDB and SORA Condo that have sold double of BTO price

With HDB flats, after completing the five-year Minimum Occupation Period (MOP), owners have the option to put the whole flat for rent or for sale on the resale market. They can also choose to buy SORA Condo after the MOP.

Additionally, SORA Condo at Lentor Hills Road is close to a number of medical facilities, including the Ang Mo Kio-Thye Hua Kwan Hospital and Tan Medical Care Pte Ltd. Besides that, the condominium is near the upcoming Lentor MRT station, which is part of the Thomson-East Coast Line.

In light of the recent record transaction of a Canberra BTO flat, we decided to look through even more HDB resale transactions of recently MOP-ed BTO flats.

More specifically, we focused on the BTO flats with leases starting in 2018. Through our findings, we found several flats that were sold at double the BTO price (some even more!). This also means that if we exclude costs like the Buyer’s Stamp Duty (BSD) and renovation costs, these flats have made a paper profit of 100% (or even more for some).

Here are the recent MOP-ed BTO projects with these transactions.

Punggol Vue

Address Flat type and floor area Storey range Resale transaction date Remaining lease when sold  Resale price BTO price Paper profit*
327A Sumang Walk  2-room, 506 sq ft 10 to 12 Nov 2022 95 years 1 month S$350k S$111k – S$141k  S$209k – S$239k

 

(~178%)

327B Sumang Walk  2-room, 506 sq ft 13 to 15 Nov 2022 95 years 1 month S$341k S$111k – S$141k  S$200k – S$230k

 

(~171%)

327A Sumang Walk 3-room, 732 sq ft 7 to 9 Oct 2022 95 years 2 months S$430k  S$179k – S$218k  S$212k – S$251k

 

(117%)

*Paper profit is calculated by deducting the BTO price from the resale price. The percentage is calculated based on the median of the BTO price and the median of the paper profit. 

Punggol Vue caught our eye because of the S$341k transaction for a 2-room flat here, which was an all-time high for a 2-room at Punggol at the time of the resale registration date. But this flat held the record for a short time only, before another 2-room flat at a different block and lower floor sold for S$350k this month.

Location-wise, it’s not near the centre of Punggol. But having the Nibong LRT at a four-minute walk away and Punggol Cove Primary right next to the BTO might be a few attributes that drew the buyers to these flats.

Fern Grove @ Yishun

Address Flat type and floor area Storey range Resale transaction date Remaining lease when sold  Resale price BTO price Paper profit
675B Yishun Ave 4 2-room, 506 sq ft 7 to 9 Nov 2022 95 years 1 month S$328k S$94k – S$118k S$210k – S$234k

 

(~209%)

675B Yishun Ave 4 2-room, 506 sq ft 13 to 15 Nov 2022 95 years 1 month S$325k S$94k – S$118k S$207k – S$231k

 

(~207%)

677A Yishun Ave 4  4-room, 1,001 sq ft 4 to 6 Nov 2022 95 years  S$580k S$252k to S$302k  S$278k – S$328k

 

(~109%)

673A Yishun Ave 4 5-room, 1,206 sq ft 13 to 15 Sep 2022 95 years 3 months S$740k S$316k to S$386k S$354k – S$424k

 

(~111%)

Next on our list is Fern Grove @ Yishun. Like what we’ve seen with Punggol Vue, the S$325k 2-room transaction here was a record for the flat type in Yishun for a short while. Soon after, another unit of the same type at the same block (but on a lower floor) was sold at S$328k.

Located around a 13-minute walk to Khatib MRT, it’s not the nearest to the MRT. But it’s located between amenities such as Wisteria Mall, Yishun Park and SAFRA Yishun.

What’s even more interesting to us is that this BTO is also located along Yishun Avenue 4, aka Yishun’s millionaire row.

You see, here’s where a few resale executive apartments in the estate have breached the million-dollar mark. The most recent one is the multi-gen flat at Blk 666, sold for a record S$1.063 million.

EastCrown @ Canberra

Address Flat type and floor area Storey range Resale transaction date Remaining lease when sold  Resale price BTO price Paper profit
129B Canberra St 2-room, 506 sq ft 10 to 12 Aug 2022 95 years 3 months S$358k S$89k to S$109k S$249k – S$269k

 

(~262%)

Further north in Sembawang, we have another recently MOP-ed flat that fetched an all-time high resale price.

Over at EastCrown @ Canberra BTO, a 2-room flat was sold for a record S$358k, making a paper gain of around S$249k to S$269k. This is approximately 2.5 times of the BTO price!

Amenities-wise, the BTO is around an 11-minute walk from Canberra MRT and Canberra Plaza.

Besides EastCrown, another BTO in the area that recently MOP-ed is EastLawn @ Canberra, which is where a 5-room flat was sold for a record S$745k.

Ghim Moh Edge

Address Flat type and floor area Storey range Resale transaction date Remaining lease when sold  Resale price BTO price Paper profit
32 Ghim Moh Link 3-room, 732 sq ft 37 to 39 Sep 2022 94 years 10 months S$730k S$310k to S$374k S$356k – S$420k

 

(~113%)

32 Ghim Moh Link 4-room, 1,001 sq ft 37 to 39 June 2022 95 years 1 month S$1.018 million S$450k to S$594k S$424k – S$568k

 

(~95%)

Ghim Moh Edge is one of the recently MOP-ed BTOs we shortlisted in a previous article because it’s relatively near the MRT (around an 11-minute walk to Dover MRT).

It’s also just a short walk from the Ulu Pandan BTO launching in November.

But we’re including it here because of the huge paper profit made from the above transactions. Especially the 4-room flat that breached the million-dollar mark!

Besides its location and remaining lease, one possible reason the 4-room flat fetched such a high price is its storey height. The flat may also offer an unblocked view of the Holland landed housing estate across the Ulu Pandan Canal.

Skyline II @ Bukit Batok

Address Flat type and floor area Storey range Resale transaction date Remaining lease when sold  Resale price BTO price Paper profit
296B Bukit Batok St 22 3-room, 732 sq ft 16 to 18 Aug 2022 94 years 8 months  S$510k S$200k to S$253k S$257k – S$310k 

 

(~125%)

296A Bukit Batok St 22 5-room, 1,216 sq ft 37 to 39 June 2022 94 years 10 months S$935k S$408k to S$530k S$405k – S$527k

 

(~99%)

Skyline II @ Bukit Batok BTO stood out to us because we have an all-time high for a 5-room flat in Bukit Batok. Sold for almost a million dollars, the owners netted around S$405k to S$527k in paper profit.

Location-wise, it’s around a 10-minute walk to Bukit Batok MRT. But even more eye-opening for us is that this BTO is actually along the Pan-Island Expressway, which people tend to avoid when buying a house.

Waterway View

Address Flat type and floor area Storey range Resale transaction date Remaining lease when sold  Resale price BTO price Paper profit
682C Edgedale Plains 3-room, 732 sq ft 10 to 12 Sep 2022 95 years 1 month S$490k S$181k – S$224k S$266k – S$309k

 

(~142%)

682C Edgedale Plains 3-room, 732 sq ft 13 to 15 Nov 2022 94 years  10 month S$490k S$181k – S$224k S$266k – S$309k

 

(~142%)

684B Edgedale Plains  5-room, 1,216 sq ft 4 to 6 Oct 2022 94 years 11 months S$850.8k S$365k – S$474k S$376.8k – S$485.8k

 

(~103%)

Waterway View is another recently MOP-ed BTO in Punggol with notable transactions in the past couple of months.

It’s also not near the centre of Punggol; the nearest LRT is Oasis LRT, which is a seven-minute walk away from the BTO. But we think one possible reason these flats have managed to fetch such a high price is that they offer unblocked views of the sea. At least for now.

When we looked at the URA master plan, areas north of the BTO have been designated for residential. These future developments may block the view in future.

Bonus: Cheng San Court

Address Flat type and floor area Storey range Resale transaction date Remaining lease when sold  Resale price BTO price Paper profit
590A Ang Mo Kio St 51 3-room, 732 sq ft 28 to 30 Oct 2022 95 years 5 months  S$670k S$282k – S$344k S$326k – S$388k

 

(~114%)

590A Ang Mo Kio St 51 4-room, 1,001 sq ft 28 to 30 Oct 2022 95 years 5 months S$968k S$435k – S$516k S$452k – S$533k

 

(~104%)

Yes, we know that at the beginning of the article, we mentioned that we’re just focusing on the flats whose lease started in 2018.

But as we looked through more resale HDB transactions, Cheng San Court caught our eye because even though the lease only started in 2019, some flats here have already entered the resale market.

Notably, both transactions above are the current record holders for 3-room and 4-room flats at Ang Mo Kio. Even more intriguing is that the 4-room flat here was sold for S$968k, just S$32k away from breaching the million-dollar mark!


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