Despite a steady drop in HDB resale prices, at least three units in Holland Village and Commonwealth have been sold for more than $1 million so far this year, reported the Straits Times.
According to PropNex, one of them is a 36th-floor unit at Block 18D in Holland Drive that changed hands for $1.03 million in July. The other two are situated at Block 50, Commonwealth Drive. One fetched $1.028 million in August, while the other sold for $1.035 million in October.
PropNex property agent Michelle Chia, who was involved in the Holland Village deal, revealed that the unit was bought by a couple in their 20s, who were attracted by the “million-dollar view” of the landed properties in the vicinity and the flat’s nearness to many amenities like the Holland Village MRT station.
Surprisingly, the trio are just regular HDB flats and are not among those that have often commanded high prices, such as units in Pinnacle@Duxton, executive apartments and homes constructed under the Design, Build and Sell Scheme (DBSS).
For instance, a DBSS penthouse at Bishan’s Natura Loft was sold for $1.18 million last February.
A Pinnacle@Duxton flat that fetched $1.12 million set a new record for the most expensive HDB resale transaction last year, while a five-roomer at Clementi Towers went for $1,005,000.
While Clementi Towers was the first HDB development fused with a shopping mall and bus interchange, HDB blocks in Commonwealth and Holland Village don’t enjoy such features as they were intended to house those displaced by the Housing Board’s Selective En Bloc Redevelopment Scheme (SERS).
Meanwhile, a representative from PropNex noted that an HDB flat at Block 18C, Holland Drive changed hands for $975,000 in August
“We can expect prices at this block to be around this rate, possibly crossing the million-dollar mark again, in the near future, as buyers are prepared to pay over $1 million for the units’ size and their central location,” added the spokesman.
This article was edited by Keshia Faculin.