3 resale flats sold break S$900k mark

Three resale HDB flats transacted recently have hit the S$900,000 mark, according to data from HDB's website.

Last month, an executive apartment located at Block 148, Mei Ling Street changed hands for S$900,000, while an executive maisonette at Bishan was sold for S$900,000. Over at Upper Boon Keng Road, a five-room flat was transacted for S$903,000 back in December.

However, these prices pale in comparison to the S$1.1 million sale of a HUDC flat in Shunfu Road two years ago.

Property experts have noted that these prices are exceptional and do not represent current HDB prices.

The property at Bishan is about 1,600 sq ft and is located on the 20th floor of Block 173, Bishan Street 13.

David Siah, 42, bought the flat for S$610,000 in 2008. The valuation for the property was S$740,000 but Siah was confident to ask for S$950,000 due to its good location and view.

The Queenstown property, which is around 1,700 sq ft, lies between the 16th and 20th storeys of a block at Mei Ling Street.

The flat, which was listed on PropertyGuru in December, belonged to an 80-year old Singaporean who died last year, so his siblings sold the four-bedroom and two-bathroom unit.

Initially, the asking price for the unit was S$950,000, or about S$560 psf, although it was valued at S$800,000.

"It took over a year to sell. I was very scared that it wouldn't be sold. The price was simply too high," said the agent.

Fortunately, a buyer was willing to pay about S$900,000, approximately S$100,000 more than its valuation.  

Meanwhile, the Queenstown flat's high selling price did not surprise neighbours as it has a convenient location.  Related Stories:HDB working to speed up lift upgrading works

New flats oversubscribed by over 3 times

BTO bumper supply takes toll on resale flats

More from PropertyGuru:
HDB working to speed up lift upgrading works
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