5-room HDB Flat In Bukit Merah Sold For Record $1.2m!!!!!!!!!

[TerrexLee]

Located on a high floor, the 112 sq m flat in Boon Tiong Road has a remaining lease of 95 years.

A standard 5-room HDB flat was sold for $1.2 million in April this year – the first time that a standard HDB flat price surpassed the most expensive non-standard flats (DBSS units, terraces, maisonettes or flats at Pinnacle@Duxton) ever sold, revealed an OrangeTee & Tie report.

Located between the 34th and 36th storeys, the 112 sq m flat in Boon Tiong Road has a remaining lease of 95 years.

Looking to buy an HDB flat? Get more insights on the right locations for your new home at AreaInsider.

It smashed the previous records set by a 5-room DBSS unit at Boon Keng Road sold in January this year and a 237 sq m HDB Terrace at Jalan Bahagia in September 2018, both of which were sold at $1.185 million.

The property consultancy noted that while only 26 standard flats were sold for over $1 million as of April this year, the number has been steadily rising through the years.

In fact, it expects more of such transactions “as many new flats in mature estates like Bukit Merah and Queenstown will be reaching minimum occupation period (MOP) in the coming months”.

OrangeTee & Tie added that demand for HDB resale flats remains resilient, with sales volume for Q1 2019 hitting a seven-year high of 4,835 units sold.

More at https://sg.yahoo.com/finance/news/5-room-hdb-flat-bukit-053636007.html

 

[krafty]

i hope that i don't sound sour grapes but a hdb flat is still a government flat. at this price, buyer can reap much more in foreign property investment.

 

[wontonmee]

Congratulations to the Sucker(s) who bought it .. Haha

 

[laksaboy]

Sometimes it's hard to tell if it's a news article or a real estate agency's newsletter.

 

[whoami]

Congratulations to the Sucker(s) who bought it .. Haha

Target 10 million. 1 million dollar flat may be the norm near future

 

[CPTMiller]

Target 10 million. 1 million dollar flat may be the norm near future

I thought the government target 10million population and with the demand from house rising the prices goes up and bank borrowing increase.
Who will benefit most?

 

[nightsafari]

A standard 5-room HDB flat was sold for $1.2 million in April this year
More at https://sg.yahoo.com/finance/news/5-room-hdb-flat-bukit-053636007.html

 

[rocket]

There be more cross 1M when new bidadari estate reach mop.
Being in prime location has it advantage.

 

[rocket]

Target 10 million. 1 million dollar flat may be the norm near future

Very likely.

 

[rocket]

i hope that i don't sound sour grapes but a hdb flat is still a government flat. at this price, buyer can reap much more in foreign property investment.

U mean like those buying attap house in JB.

 

[zhihau]

altogether now!!! HUAT AH!!!

 

[syed putra]

JB sounds so attractive now in comparison.

 

[JohnTan]

If Singapore was under m&d apartheid, islamist or oppie government instead, public apartments would be worth next to nothing. The fact that many sinkies are willing to pay over $1M for HDB flats with 80-90 year lease shows that sinkies place a premium on property governed by the PAP government.

 

[Hypocrite-The]

It boils down to location, location, location

 

[JohnTan]

It boils down to location, location, location

An apartment in a good location in jiuhu would not fetch $1.2M because it is ruled by incompetent m&ds and stupid, kleptomaniac islamists.

 

[rushifa666]

Theres one born every minute

 

[winnipegjets]

It is the best investment ever ...by the PAP government.

 

[eatshitndie]

no matter what it's huat ah!

 

[zhihau]

no matter what it's huat ah!

definitely will go a lot over 6.9 million folks in this slightly over 6.9 hundred squared km of land.

 

[krafty]

If Singapore was under m&d apartheid, islamist or oppie government instead, public apartments would be worth next to nothing. The fact that many sinkies are willing to pay over $1M for HDB flats with 80-90 year lease shows that sinkies place a premium on property governed by the PAP government.

ah john is right, factoring the good governance also attribute to high property prices.