Chitchat Queenstown SERS HDB Flat Sold for $1.1M! Buyer Wants To Downgrade, Seller Wants To Upgrade!

[JohnTan]

SINGAPORE - A five-room Housing Board flat in Queenstown has been sold for $1.1 million this month, setting a new record for the area.

The 38th-floor resale unit at Block 18C Holland Drive has a floor area of 1,259 sq ft. This works out to about $874 per sq ft (psf) on the built-up area.

Built under the Selected En Bloc Redevelopment scheme, the unit has a remaining lease of 93 years and has an unblocked view.


The unit was transacted at 16 per cent above the price of a similar unit on the 37th floor at the same HDB block, which was sold at $945,000, or $751 psf, in November last year.

ERA Realty's Ms Joyyce Goh, the seller's agent, said: "Holland is a prime area for both private and public housing. This unit is located between two MRT stations, Buona Vista and Holland Village.

"Any high price for a resale flat will likely come from the Commonwealth and Holland areas because of their proximity to Orchard Road and the city."

The Straits Times understands that the buyer is a Singaporean family who had previously lived in a private property and is looking to downgrade.

"They wanted to buy in Districts 9 and 10, which is a premium area next to Holland Village. You can't find anything of this size with this unblocked view, and it was a renovated unit," PropNex agent Stanley Ho said.

The seller of the HDB flat has plans to upgrade to private property, ST understands.

Just three months ago, an executive apartment at Block 148 Mei Ling Street sold for a record $1.08 million.

Close to Queenstown MRT station and Anchorpoint Shopping Centre, the 1,615 sq ft unit, which is situated on a higher floor, has a balance lease of about 76 years and sold for about $669 psf on the built-up area.

https://www.straitstimes.com/singap...setting-new-record-for-queenstown?xtor=CS1-10

 

[zhihau]

altogether now!!! huat ah!!!

 

[winnipegjets]

HDB flats are not worth a million. Why sinkees don't get it?

 

[JohnTan]

HDB flats are not worth a million. Why sinkees don't get it?

A free market repeatedly says they were worth more than a million. HDB flats at Duxton, Queenstown, Bishan have changed hands for $1 million regularly.

 

[kryonlight]

With the mini ice age approaching, sinkie property prices can only soar.

 

[winnipegjets]

A free market repeatedly says they were worth more than a million. HDB flats at Duxton, Queenstown, Bishan have changed hands for $1 million regularly.

Those buyers are moron. After 40 years, the price will be less than half of the purchase price. HDB flat depreciates after a decade or so. It is not an asset but a liability.

 

[JohnTan]

Those buyers are moron. After 40 years, the price will be less than half of the purchase price. HDB flat depreciates after a decade or so. It is not an asset but a liability.

Not according to the article.

After 40 years, the old flats in Queenstown were demolished and rebuilt under SERS. The new owners sold 5 years later, giving the next owner a flat with a 93 year lease. And the cycle will repeat. I predict more HDB flats will undergo SERS regardless of what Lawrence Wong claims.

 

[eatshitndie]

it’s a good sized flat, in a great location and desirable area, and most important of all neighbor to froggy. sure have good makan all around 24 by 7.

 

[winnipegjets]

it’s a good sized flat, in a great location and desirable area, and most important of all neighbor to froggy. sure have good makan all around 24 by 7.

Maybe you are right. Must keep froggy alive forever to maintain value of these HDB flats.

 

[winnipegjets]

Not according to the article.

After 40 years, the old flats in Queenstown were demolished and rebuilt under SERS. The new owners sold 5 years later, giving the next owner a flat with a 93 year lease. And the cycle will repeat. I predict more HDB flats will undergo SERS regardless of what Lawrence Wong claims.

Every forty years, HDB flats get demolished and rebuild? Sure or not?

 

[eatshitndie]

Maybe you are right. Must keep froggy alive forever to maintain value of these HDB flats.

thanks to froggy the area remains high ses and carries high value. good makan all day and night is a bonus.

 

[eatshitndie]

Every forty years, HDB flats get demolished and rebuild? Sure or not?

in 40 years shit can accumulate on walls of sewage pipes like plaque in arteries and corrosion and rodents can eat away wiring in electrical ducts. must replace, upgrade or change anyways. may as well tear down entire blocks and rebuild again to modern standards and appeal. otherwise get nostalgic shitty bahu from pipes and unsafe wiring which may cause fires. nonetheless sinkie clutter is the worst compared to shit and short circuits.

 

[winnipegjets]

in 40 years shit can accumulate on walls of sewage pipes like plaque in arteries and corrosion and rodents can eat away wiring in electrical ducts. must replace, upgrade or change anyways. may as well tear down entire blocks and rebuild again to modern standards and appeal. otherwise get nostalgic shitty bahu from pipes and unsafe wiring which may cause fires. nonetheless sinkie clutter is the worst compared to shit and short circuits.
View attachment 44113

There is no official policy of rebuilding flats that are 40 years old. When they rebuild, how much more does the flat owner have to pay?

 

[eatshitndie]

There is no official policy of rebuilding flats that are 40 years old. When they rebuild, how much more does the flat owner have to pay?

most likely 69% more than their original flats and blocks selected for sers enbloc are coincidentally timed before the next ge in a hotly contested constituency. makes perfect sense when it cums to buying sinkies’ hearts and minds. sinkies are extremely easy to manipulate. can’t blame the gov. blame sinkies’ gullibility and vulnerability. they get into a vulnerable position at their own free will.

 

[Froggy]

I live in Tanglin Halt, HUAT AHHHHH! Still have 90 more years to go, HUAT ahhhh

 

[JohnTan]

There is no official policy of rebuilding flats that are 40 years old. When they rebuild, how much more does the flat owner have to pay?

Existing flat owners get a new flat in exchange for their old one, with the lease reset to 99 years.

It has happened enough times that most sinkies believe their old flats will get SERSed. Lawrence Wong said that there's no official policy on SERS just to avoid getting painted into a corner. But the hard truth is that most old HDB flats will get SERSed.

 

[musashi]

it’s a good sized flat, in a great location and desirable area, and most important of all neighbor to froggy.

In my opinion, most important of all is that Holland Village is one of the safest neighbourhoods in Singapore, where the:
wikipedia.org/wiki/Special_Operations_Command_(Singapore)
patrol at least once every two weeks (maybe even every week)!
It's also located in the ward:
en.wikipedia.org/wiki/Buona_Vista#Political_history
en.wikipedia.org/wiki/Tanjong_Pagar_Group_Representation_Constituency#Members_of_Parliament
tptc.org.sg/www/mps.html
whose MP has a very good chance of becoming the next Sinkie PM:

wikipedia.org/wiki/Chan_Chun_Sing
facebook.com/ChanChunSing.SG
pmo.gov.sg/cabinet/mr-chan-chun-sing
parliament.gov.sg/mps/list-of-current-mps/mp/details/chan-chun-sing
("Meet-the-People Session" every Monday evening at "Blk 32 Holland Close #01-96 Singapore 270032")

youtube.com/watch?v=1iEQCCUsdHk

mothership.sg/2015/01/chan-chun-sings-reaction-after-hearing-he-could-be-the-next-labour-chief

:p​

 

[winnipegjets]

Existing flat owners get a new flat in exchange for their old one, with the lease reset to 99 years.

It has happened enough times that most sinkies believe their old flats will get SERSed. Lawrence Wong said that there's no official policy on SERS just to avoid getting painted into a corner. But the hard truth is that most old HDB flats will get SERSed.

yeah right ...you tell me there is no flat older than 40 years right now?

 

[winnipegjets]

In my opinion, most important of all is that Holland Village is one of the safest neighbourhoods in Singapore, where the:
wikipedia.org/wiki/Special_Operations_Command_(Singapore)
patrol at least once every two weeks (maybe even every week)!
It's also located in the ward:
en.wikipedia.org/wiki/Buona_Vista#Political_history
en.wikipedia.org/wiki/Tanjong_Pagar_Group_Representation_Constituency#Members_of_Parliament
tptc.org.sg/www/mps.html
whose MP has a very good chance of becoming the next Sinkie PM:

wikipedia.org/wiki/Chan_Chun_Sing
facebook.com/ChanChunSing.SG
pmo.gov.sg/cabinet/mr-chan-chun-sing
parliament.gov.sg/mps/list-of-current-mps/mp/details/chan-chun-sing
("Meet-the-People Session" every Monday evening at "Blk 32 Holland Close #01-96 Singapore 270032")

youtube.com/watch?v=1iEQCCUsdHk

mothership.sg/2015/01/chan-chun-sings-reaction-after-hearing-he-could-be-the-next-labour-chief

:p​

I have not seen him makan at nearby hawker centres leh.

 

[Scrooball (clone)]

The buyer must be a real loser. No common sense to buy an old flat at such a premium. Maybe the buyer is one of those old-timers who managed to make a decent living in the past with a degree (when it was still rare). Now age has caught up w these old geezers and not able to sustain or find a job. Hence, the need to downgrade from condo to old flat.