PRC new citizen buys million-dollar HDB in Queenstown!!!-投资理财-新加坡狮城论坛

Following reports of a Bishan maisonette sold for S$980,000, a resale executive maisonette at Mei Ling Street in Queenstown has topped the record for being the first public housing unit to reach the million-dollar mark, according to The Business Times.

The buyer and seller have already agreed on the price but the first appointment with the Housing and Development Board (HDB) has yet to take place, said Lee Sze Teck, Senior Manager for Research and Consultancy at DWG, the agency brokering the deal.

It is understood that the naturalised Singaporean buyer and her China citizen father paid a cash premium of S$195,000 for the unit near Queenstown MRT station. Its size has not been revealed.

Once the sale is completed, the property will top HDB’s list of apartments that fetched prices close to S$1 million this year.

Despite the recent high prices, property experts said that there is no property bubble as these expensive units are often located in popular areas and offer sought-after design features uncommon in public housing.

For instance, the Mei Ling Street flat offers an “unblocked view and it is very near the MRT station”, said Lee.

He added that buyers are usually drawn to homes that offer good views and layout, and in some cases, good feng shui.

As for the executive maisonette in Bishan, it offered a roof terrace that’s unique in public housing, noted Eugene Lim, Key Executive Officer at ERA Realty.

Lim said that buyers are willing to spend huge amounts, especially for homes located in “hot areas” such as Bishan, Marine Parade, Toa Payoh and Queenstown.

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shichengati LV10

发表于 10-9-2012 13:08:43 | 显示全部楼层

Bishan maisonette sold for record S$980,000

A Housing and Development Board (HDB) executive maisonette in Bishan has been sold at a whopping price of S$980,000 or S$550 psf, a new record for the costliest HDB resale flat.

Sold by a Singaporean woman, the unit was bought by a Singaporean and her China national father, reported The Straits Times. The sale price of S$980,000 is inclusive of S$200,000 in cash-over-valuation (COV), reportedly the highest.

It beats the former record set in May when an executive flat in Toa Payoh was sold for S$910,000.

According to Cheryl Clare Ng of ERA Realty who marketed the property, a total of 40 people viewed the 25-year old unit at Bishan Street 13 over two hours during an open house in June.

Even though the maisonette had simple furnishings, buyers were attracted to the spacious 1,800 sq ft living area and the unique 150 sq ft open roof terrace. Ng added that the property is close to amenities and transport links.

“It’s also on the 19th floor, has a great view and it is very airy most of the time.”

Property agent Thomas Hee from Dennis Wee Group, who represented the buyers, acknowledged that there are only 48 of such spacious maisonettes in Singapore.

In 2005, a similar unit would have changed hands for approximately S$550,000.

“When they are put up for sale, they're always snapped up,” added Hee.

Ng noted that the buyers got a good deal and “if you compare it to a similar condo unit, you are effectively paying half the price for twice the space”.

Meanwhile, a quick search on PropertyGuru revealed that there are currently over 10 active listings for resale HDB executive flats, each with an asking price ranging from S$900,000 to S$1 million. Most notably, there are 19 active listings in the same flat category asking more than S$1 million each.

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mumbaby LV7

发表于 10-9-2012 13:27:37 | 显示全部楼层

本帖最后由 mumbaby 于 11-9-2012 13:20 编辑

There should be some mistake here. Both 980k HDB in Bishan and 1 million HDB in Queenstown were bought by "a Singaporean and her China national father"?