Serious HDB Loft Flat In Queenstown Sold For S$1.39 Million! New Record! Majulah PAP!

[JohnTan]

Rare HDB flats on the market usually command sky-high resale prices.

This time, a five-room loft unit in SkyTerrace @ Dawson was recently sold for over $1.32 million, setting a new record for resale HDB flats in Queenstown.

The 122 sq metre "penthouse" unit spans over the 42nd and 43rd floor and has three bedrooms and two bathrooms.

But the highlight of the unit is the scenic view from the ceiling-to-floor windows.

While there are a total of 758 units in SkyTerrace @ Dawson, the five-room loft units are in hot demand because there are only 26 of them in the estate.

According to HDB's records, the most recent sale of a similar unit changed hands in June for $1.09m.

"The homeowner had plans to sell the flat earlier this year, but put their plans on hold as they were worried about exposing their elderly mother to the risk of Covid-19," said Lois Ho, PropNex Realty's associate group director, in an interview with Lianhe Wanbao on Saturday (Nov 27).

The unit was put on the market in mid-October and attracted 15 potential buyers in the two weeks of viewing. Seven of them made offers for the flat, Ho said.

With its central location, panoramic view, and airy interior, the flat was very popular among potential buyers, she added.

According to her, a buyer who was very keen on the unit made several offers until they sealed the deal.

However, a five-room flat in Bishan's Natura Loft sold in October still holds the record for the most expensive resale flat at $1.36m.

https://www.asiaone.com/money/hdb-loft-flat-dawson-snapped-132m-breaks-queenstown-resale-flat-record

 

[Pinkieslut]

Huat Ah!

 

[Charlie99]

It is only a leasehold property.

 

[JohnTan]

It is only a leasehold property.

99 year leasehold is a very long time. The property can change hands easily between 4 -5 owners. If it stays within the family, the grandson will be quite old by the time HDB takes back the property for redevelopment.

 

[syed putra]

99 year leasehold is a very long time. The property can change hands easily between 4 -5 owners. If it stays within the family, the grandson will be quite old by the time HDB takes back the property for redevelopment.

Basically. The last guy who owns it is the sucker.

 

[countryman]

Don't know why so many kum gongs in SG?

 

[Charlie99]

99 year leasehold is a very long time. The property can change hands easily between 4 -5 owners. If it stays within the family, the grandson will be quite old by the time HDB takes back the property for redevelopment.

Unlike freehold real property, leasehold real property has no residual value.
This is probably one of the reasons that the Singapore appears to take advantage of its citizens.
It is similar to prepaid rent for the duration of the leasehold.
Perhaps, to be fair and just, the HDB should guarantee a residual value equivalent to 25 to 50 per cent of the initial purchase price, payable at the end of the 99 year leasehold.

 

[rushifa666]

Stupid sinkies again. Any house in johor is bigger than this

 

[millim6868]

The way the clowns letting in PR buy hdb is a mistake to drive property market,in the end the young ones are the one suffering,but 61% still blur blur

 

[zhihau]

Don't know why so many kum gongs in SG?

it’s similar to a ponzi scheme or some say pyramid selling scheme- be the upline, not the downline

 

[shittypore]

it’s similar to a ponzi scheme or some say pyramid selling scheme- be the upline, not the downline

Easiest way to make $$$$$$$$ for tos running it. Sinkiepore business model, head I win, tail u lose. Yet Sinkies all beli proud of their BTO, HAHA!!!

 

[bobby]

1,350 sq ft apartment with cheapo furniture and ceiling fan can call "penthouse"......this is macam call penthouse.

 

[JohnTan]

Unlike freehold real property, leasehold real property has no residual value.
This is probably one of the reasons that the Singapore appears to take advantage of its citizens.

The property market says otherwise. 99 year leasehold condos have appreciated in value better than freehold condos.

Looking at average psf prices in the 15-year chart, the 99-year leasehold condos in the prime district of Novena have had a much bigger upside than freehold condos in far-flung Sembawang. The following two points are also noteworthy:

The price difference between 99-year leasehold and freehold condos in Novena is negligible. 99-year leasehold properties had the higher average psf price in 4 of 10 years (2008-2017)

99-year leasehold property in Sembawang has seen a greater upside than the freehold condo property there

https://www.99.co/singapore/insider/99-year-leasehold-freehold-condo/

It is similar to prepaid rent for the duration of the leasehold.

It is not similar. People who rent apartments for short durations usually don't invest money to improve the premises. Neither are they allowed to sell their rent agreements to others. They also face constraints in subletting, which can be illegal.

 

[red amoeba]

Isn't penthouse full of naked girls ? Why pay 1.3m and no babes.

 

[sweetiepie]

View attachment 127920

Rare HDB flats on the market usually command sky-high resale prices.

This time, a five-room loft unit in SkyTerrace @ Dawson was recently sold for over $1.32 million, setting a new record for resale HDB flats in Queenstown.

The 122 sq metre "penthouse" unit spans over the 42nd and 43rd floor and has three bedrooms and two bathrooms.

But the highlight of the unit is the scenic view from the ceiling-to-floor windows.

While there are a total of 758 units in SkyTerrace @ Dawson, the five-room loft units are in hot demand because there are only 26 of them in the estate.

According to HDB's records, the most recent sale of a similar unit changed hands in June for $1.09m.

"The homeowner had plans to sell the flat earlier this year, but put their plans on hold as they were worried about exposing their elderly mother to the risk of Covid-19," said Lois Ho, PropNex Realty's associate group director, in an interview with Lianhe Wanbao on Saturday (Nov 27).

The unit was put on the market in mid-October and attracted 15 potential buyers in the two weeks of viewing. Seven of them made offers for the flat, Ho said.

With its central location, panoramic view, and airy interior, the flat was very popular among potential buyers, she added.

According to her, a buyer who was very keen on the unit made several offers until they sealed the deal.

However, a five-room flat in Bishan's Natura Loft sold in October still holds the record for the most expensive resale flat at $1.36m.

https://www.asiaone.com/money/hdb-loft-flat-dawson-snapped-132m-breaks-queenstown-resale-flat-record

KNN look like some hdb rooftop for maintenence kind

 

[Majulah]

有 影 無 ??

The 122 sq metre "penthouse" unit spans over the 42nd and 43rd floor and has three bedrooms and two bathrooms.

HDB competing with private developers ? the corrupted company supposed to be building affordable housing for the lower income slaves and those at
the bottom layer of the middle income serfs. u mean h dee bee got land at cheap price through land acquisition act , in the name of providing
housing for the low income then contradicted the mission by building mansion for the rich ?

 

[zhihau]

Isn't penthouse full of naked girls ? Why pay 1.3m and no babes.

Think maybe they got hustler I mean hustled instead

 

[hbk75]

Now ppl just died of heart attack suddenly. Either by mRNA vaccines or other things. So buy so expensive make urself stress and need to force urself to jab for jobs for what?

 

[potato29]

It is only a leasehold property.

someone may later buy it for $5m and say cheep cheep.

 

[Boliao]

someone may later buy it for $5m and say cheep cheep.

https://www.douyin.com/video/7035213633252625667
When that happens, curry puff will cost S$500 a piece. Let's hope we don't become another Turkey.