Jurong West flat sold for $695k, record price for 4-room HDB resale flat in the estate

A four-room HDB resale flat in Jurong West was recently sold for S$695,000. This is the highest price recorded for a four-room HDB resale flat in the estate (at least for now).

Unit is from a SERS replacement project

The record-breaking unit is located within the 13th to 15th floor range (HDB doesn't reveal the actual floor for privacy reasons) of Blk 697B Jurong West Central 3.

The block is one of the six blocks of Jurong West Blossom, a SERS replacement project. Completed in 2017, it's now home to residents of Blk 167 to 172 Boon Lay Drive, which had their units acquired through SERS in December 2011.

JTC had built the Boon Lay Drive flats to house industrial workers, as Jurong started developing into an industrial hub in the late 60s and 70s.

The blocks have since been demolished, with the site being marked as a residential site on the URA master plan. (It won't be surprising if it will be a BTO site in future.)

SERS replacement project is next to Boon Lay MRT and Jurong Point

Meanwhile, one main factor contributing to the record price is its location. For starters, Jurong West Blossom is located right next to Jurong Point, which is integrated with Boon Lay MRT and Boon Lay Bus Interchange.

Blk 697B is also within one kilometre of four primary schools, while River Valley High is around a 13-minute walk away.

Having been completed in 2017, the units in Jurong West Blossom are among the youngest HDB projects available on the resale market in the area. (The record-breaking unit has a remaining lease of 93 years 3 months.)

Sold at S$694 price psf, higher than average in Jurong West

The record-breaking unit spans 93 sqm (1,001 sq ft). This works out to a price psf of S$694.

According to 99.co Researcher data, this is way higher than the year-to-date average price psf of HDB resale flats in Jurong West (S$475) and for four-room flats in the estate (S$470).

Due to the convenient location and longer remaining lease, the average price psf of units in Jurong West Blossom has been way above the average price in the estate, with four-room flats averaging S$690 psf year-to-date.

ALSO READ: 4-bedder at Lentor Modern sold for $3.41m; record price for District 26

This article was first published in 99.co.