Asked by Mr. Michael Chan
Hi,
I recently applied for a BTO for a 3 room flat in Whampoa, and the price listed is about $328,000 - $388,000
I went on to research a little bit about the selling price of the same flat in the resale market. HDB sets it as $465,000 - $500,000.
But most of the resale flats listing(in the same area) I have seen is, surprisingly, around 300k to max 400k for 3 room flats. I am little baffled as to why flats in areas such as Towner road or Saint George Road is going for such low prices, considering the fact that they are in a mature estate, and so near to Boon Keng Mrt, and being so close to Town.
I am also a bit concerned that if I do buy the HDB BTO 3room flat at 388k, it will turn out to be a bad investment for me to sell after 5 years of staying.
Could someone please help to explain to me the pricing system used? Much Thanks in advance.
I recently applied for a BTO for a 3 room flat in Whampoa, and the price listed is about $328,000 - $388,000
I went on to research a little bit about the selling price of the same flat in the resale market. HDB sets it as $465,000 - $500,000.
But most of the resale flats listing(in the same area) I have seen is, surprisingly, around 300k to max 400k for 3 room flats. I am little baffled as to why flats in areas such as Towner road or Saint George Road is going for such low prices, considering the fact that they are in a mature estate, and so near to Boon Keng Mrt, and being so close to Town.
I am also a bit concerned that if I do buy the HDB BTO 3room flat at 388k, it will turn out to be a bad investment for me to sell after 5 years of staying.
Could someone please help to explain to me the pricing system used? Much Thanks in advance.
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thanks for the reply. It has always been one of my belief that a first time home buyer is much better off buying a BTo (due to the much lower price). Are you telling me that, the current resale market is so bad that I can actually get a better deal buying a resale flat than a BTO?