Singapore’s HDB is witnessing another uplift with yet another HDB Apartment sold for a record price. Reports are emerging with a HDB 5-ROOM Flat at Natura Loft, which was sold as a DBSS or Design, Build & Sell Scheme, development in Bishan by Housing & Development Board (HDB). It has just made headlines for becoming the most expensive resale transaction in a public housing development so far.
The purchaser splashed out over $1.18 million, after being dazzled in by the interior’s stunning design, it’s key address in Bishan and roominess of the unit, as indicated by the seller’s represenative, Singapore Realtor Inc’s Joey Chan. Beside being one of just 12 penthouses in the 480-unit extend, its 120 sq m territory implies it is greater than the common five-room pads measuring 110 sq m. The deal was transacted at the end January 2017, also broke previous records set by other DBSS units or flats in the Pinnacle @ Duxton. Last August, a DBSS unit at City View @ Boon Keng fetched $1.1 million, while a flat at the Pinnacle was purchased for $1.12 million in September.
Initially, the five-room units at Natura Loft were propelled at costs going from $590,000 to $739,000, while the four-roomers cost amongst $465,000 and $586,000. Be that as it may, subsequent to meeting the Minimum Occupation Period (MOP) of five years in 2016, 11 other five-room units were sold on the resale advertise for $830,000 to $1.04 million, while 14 four-roomers were purchased for $700,008 to $818,000. While these qualities are in accordance with market costs for upscale DBSS pads in Bishan, R’ST Research Director, Ong Kah Seng, advised that these don’t speak to the resale showcase when all is said in done as costs stay delicate.
So do you think Singapore’s HDB is set to boost prices up? Interesting, I’d like to bring up the topic on executive condominiums. I have always thought that they are a very interesting classes of property in Singapore -A unique public-private hybrid, executive condominiums lets owners buy into the amenities and lifestyle of which a private condominium has, but at a lower price point. Not only that, it also comes with ability to use government grants for their purchase. This article on buying executive condominium seems very interesting to read.
What do you think? Share your thoughts on this new executive condominium.