By Romesh Navaratnarajah: Less than a week after an executive flat in Queenstown was sold for S$1 million, it has been reported by The Straits Times that a HUDC flat at Shunfu Road in Bishan was sold in July at an eye-popping price of S$1.28 million, or around S$762 per sq ft.
This sets a new record for a HUDC flat, beating last year's sale of a 1,668 sq ft unit in the same neighbourhood for S$1.22 million.
According to property agent Sherry Tang, who brokered the deal, the unit was sold to a Singaporean family and is a very rare corner maisonette located on the top floor. She added that the property had been on the market since May this year and around 30 people had viewed it.
Meanwhile, Tang said that there are two to three HUDC flats in the Shunfu Road area currently asking for around S$1.3 million. She feels there is a chance the owners could sell at that price.
Tejaswi Chunduri, Regional Analyst at PropertyGuru, said this reinforces the fact that some buyers are willing to pay any price for spacious, strategically located public housing flats with quality interiors. "If home buyers are looking for units in private homes located in Bishan, the price could be twice as much," added Chunduri.
She noted that as the Shunfu Road HUDC flats are set to be privatised in the near future, they will no longer be bound by HDB's resale and sublet restrictions.
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