Bookmark & Share
A four-bedroom HDB flat in Queenstown was sold for $653,000. The sale sets a new record for price per square foot (psf), amid the continuing demand for resale units.
The buyers, an Indonesian male residing permanently in the country and a Singaporean woman, could have purchased a condominium unit in the suburbs for the same price.
But the couple was won over by the location, which is just five minutes walk from Queenstown MRT station. The unit is also on the 40th floor, with unblocked views of the surrounding greenery from all windows.
The four-year-old 969 sq ft flat located at Forfar Heights in Strathmore Avenue, was sold above valuation for $68,000 - a level determined by an independent appraiser.
The price works out to $674 psf, which is 10 percent higher than the previous record of $609 psf achieved in January last year.
Search Property News
Reader Comments: (10 comments)
crazy! these are the ppl who have $ but don't want to spend in private house but buy the HDB and push up the prices. Too much!
COV is in line with the market rate. What's overprised is the valuation done by HDB approved appraiser.
How is this so? Your argument is completely baseless. HDB themselves have reported that only 5% of its units are occupied by PR. Here is the link to that report: http://www.propertyguru.com.sg/news/2009/11/26798/prs-occupy-less-than-5-of-hdb-flats
Agreed Tvlinus. Singaporean beware...ur gd lands are taken by foreigner and we moved to suburb? In future our children may not be able to afford these land anymore. Think again what happen to district 9, 10, 11?
cant wait for the day the prices come tumbling down!
WOW. how i wish to be tat very lucky agent!
Wow ... $1 Million for a HDB flat is not very far away =)
Why no one is publishing those HDB sold under valuation or without any COV? This is just an odd case, 1 over millions case.
WOW!!!HOW I WISH THAT I'M THAT PROPERTY AGT!!!
Who is the broker? I would like him to sell my HDB flat also!