Recently sold a Housing Board five-room loft property on the 16th floor for $1.198 million, with a cash over valuation of over $200,000, with a cash over valuation of around $200,000.
It is the first million-dollar purchase for a HDB resale unit in Punggol, an unusual feat given that most million-dollar HDB flats are in mature estates like Bishan, Ang Mo Kio, and Queenstown.
The flat was beautified by putting in a new sofa and dining set, painting the walls, and adding home furnishings to make it feel more homely.
A ten-year-old apartment at Punggol Sapphire, a HDB complex near Punggol Field, was sold for a million dollars. The 1,603-square-foot top-floor property has three bedrooms and a study space. Aside from the distinctive loft layout, another selling point is the floor to ceiling windows that flood the house with natural light during the day.
Treelodge@Punggol, a five-room loft apartment in Punggol, sold in December 2021 for $970,000, far short of the million-dollar mark.
While the high asking price may raise eyebrows, Ms Lim points out that million-dollar flats constitute for a negligible proportion of total HDB transactions.
The number of HDB sales looks to be decreasing.
The shortage of houses and construction delays of Build-To-Order flats due to the pandemic have encouraged buyers to look at the resale market. As a result, the demand for resale flats rises.
The increase in the Total Debt Servicing Ratio from 43% to 55% in December 2021 has not impacted demand for attractive properties.
“People are also more likely to pay a premium for homes in desirable locations or with distinctive features,” she adds.
The sale of HDB homes for $1 million recently made headlines. In August, 33 million-dollar sales occurred, while resale HDB flat prices increased for the 26th straight month.
These relatively new flats are always in demand because of the extended lease term remaining on their 99-year lease and the possible cost savings on HDB upgrades. She also mentions that executive apartments, jumbo flats, and executive maisonettes are in strong demand, despite the fact that HDB has terminated these flat plans.
With many HDB units selling for more above $1 million, why not check at the new Jalan Anak Bukit development? The Reserve Residences is the name of the project. Far East Organization and Sino Group are jointly developed on this upcoming integrated development.
The project is close to the Beauty World MRT station. It will be part of the Beauty World precinct, which will include mixed-use elements such as an integrated transportation hub, residential, retail, food and beverage, and other appropriate uses. The condo is close to Upper Bukit Timah Road and Jalan Jurong Kechil and is located in a GLS zone. The Beauty World MRT station is just a short walk away.
In the center of Tampines is a brand-new construction called Tenet EC by Qingjian Realty. An executive condominium building on Tampines St. 62 has been the subject of a public tender announced by the housing and development authority.
Tenet is situated in District 18, which provides its people with a wide range of amenities. If you’re seeking for an elite apartment in Tampines, you’ve found the right spot! City workers may easily access the property because of its convenient location on Tampines Street.
Lentor Hills Residences are located in a lovely, well-connected area near Lentor MRT. It has a lot of conveniences, but you can also access more important amenities. Families may play and work close to home at Lentor Hills Residences since everything is accessible on foot.
Lentor Hills Residences is accessible to several lines of transit, making travel simple. Lentor MRT, which travels on the Downtown Line and takes passengers to the CBD in a matter of minutes, is close by. Additionally, it has connections to Dunearn Road, Bukit Timah Road, and important expressways including the BKE, PIE, and KJE.
Please register or call 6100 3487 if you wish to view the Tenet showflats, The Reserve Residences, or Lentor Hills Residences.