Bukit Panjang’s first million-dollar HDB unit is located on Jelebu Road

Read related post: The largest bungalow tract on Melrose Drive is for sale for $16.8 million

In September, a 127 square meter (1,367 sq feet) executive residence on the 29th level of Block 181 Jelebu Road changed hands as a resale deal for $1.02 million ($746 per sq ft). This was the very first HDB apartment located in Bukit Panjang that crossed one million dollars, as per the data compiled in the Edgeprop Shortlist which includes HDB multi-million dollar deals. The sale was handled through Abel Hwang, senior marketing director at ERA Realty, who represented the sellers.

The executive residence located on Jelebu Road is right across from the Bukit Panjang integrated transport hub, Bukit Panjang Plaza and Hillion Mall, which could be the reason for the hefty price for the flat, claims Lee Sze Teck, senior director of data analytics for Huttons Asia.

Block 181 belongs to eight 30 story blocks of housing for the public located on Jelebu Road built in 2003. The executive residence has a 99-year lease that began in 2003. As such the remaining agreement of 78 year, eight months, as per Huttons’ Lee.

The apartments in Block 181 comprise in the form of five-room, four-room as well as executive apartments. Schools that are within 1 to 2 km radius of Block 181 Jelebu Road comprise West View Primary School, Zhenghua Primary School, Greenridge Primary School, and Bukit Panjang Elementary School according to Mohan Sandrasegeran, head of research and data analytics at SRI.

This month there were 36 million HDB Resale deals surpassed the threshold of $1 million by Sept 23. The HDB town with the highest number of million-dollar deals in this month has been Bukit Merah, which reported five transactions.

In the last 12 months, August was the month that saw the largest million-dollar HDB deal resales (55). By 2023, there were 322 HDB sales of minimum $1 million as compared to 367 similar transactions in 2022 as per SRI’s Sandrasegeran.

Many HDB towns have signed million-dollar deals over the past few years including Bukit Panjang the most recent. One of the few HDB towns yet to get million-dollar deals is Choa Chu Kang, Jurong West, Sembawang and Sengkang as per SRI.