A S$1 million HDB apartment with five bedrooms on Old Airport Road.
Another famous vacation destination
A five-room HDB flat in Pine Close was sold for more than S$1,000,888 on July 20, 2022, according to the seller’s agent, Lixon Mui of ERA Realty Network. This makes it the estate’s second flat to sell for more than S$1 million in 2022, and the first flat to sell for more than S$1 million in 2022.
The 1,292 square foot apartment is located on the eleventh level of Block 9 Pine Close.
This works out to roughly $775 per square foot of living space.
In 2022, Pine Close witnessed its second million-dollar transaction.
In answer to Mothership’s questioning, Mui stated that the apartment’s buyers are a young couple with an infant.
Mui also stated that when the condominium was finally sold, it had a Cash Over Valuation (COV) of S$90,000.
The term “Cash Over Appraisal” is used by PropertyGuru to denote the difference between the asking price of a resale HDB flat and the HDB’s official value of the property.
The HDB judged that this particular condominium in Pine Close was worth 920,000 Singapore dollars, according to what Mui learned from the young couple’s real estate agent.
The apartment was rented for the first time in 1997.
Furthermore, it is not the first apartment in the Pine Close estate to be purchased for more than a million dollars.
According to Mui, a fifth five-room flat on the 19th floor of Block 5 Pine Close sold for S$1.02 million in January 2022.
This apartment was built in the year 2000 and has a total square footage of 1,184 square feet.
Within one kilometer of another estate that has sold units for more than a million dollars.
Mountbatten MRT station and the Old Airport Road Food Centre are both within 300 meters of these Pine Close flats in a peaceful residential neighborhood.
They are also within a one-kilometer radius of Dakota Crescent, a street that recently saw the sale of two residences for more than one million dollars.
On September 19, a new record price of S$1.05 million was paid for the acquisition of a HDB maisonette at Block 60 Dakota Crescent.
A different maisonette on the 10th level of the same building was purchased for S$1,008,888 in December 2020.
Nine HDB estates sold their first apartment for a million dollars or more in 2022.
Yishun, Woodlands, Pasir Ris, Marine Parade, Bukit Batok, Tampines, and Punggol have all recorded their first million-dollar flat sales in the last eight months.
Many hdbs have been sold for more than a million dollars over the years. HDB prices will rise further in the near future. Why not have a peek at some of the new launch developments scheduled for 2022?
The Reserve Residences is one of the developments to consider. The Reserve Residences is a new integrated development near the Beauty World MRT station. Enjoy the convenience of shops, MRT, and bus interchange all at one location. Far East Organization and Sino Group collaborated to build the Reserve Residence area on Jalan Anak Bukit. Please contact the sales team at 6100 3487 for more information about The Reserve Residences Price.
Lentor Hills Residences is one of the developments to consider. Lentor Hills Residences is next to a new integrated development called Lentor Modern near the Lentor MRT station. Enjoy the convenience of shops, MRT, and bus interchange all at one location. Guocoland and TID Residential collaborated to build Lentor Hills Residence area on Lentor area. Please contact the sales team at 6100 3487 for more information about the Lentor Hills Residences Price.
Tenet EC is another interesting trend to consider. Tampines North St 62 is the Tenet site. The Pasir Ris MRT station is around a 10-minute drive away. In the future, there will be a cross-island line station called Tampines North MRT, which will be 3 minutes walk from Tenet Ec. Tenet is close to numerous good schools and shopping areas such as Tampines One, Century Square, and Ikea. Please contact the sales team at 6100 3487 for additional information on Tenet Price.