The recent million-dollar deal for a HDB flat in Queenstown could soon be broken, as a number of resale flats are currently on the market with asking prices well over S$1 million.
A search of the 10 most expensive HDB listings on PropertyGuru with asking prices above S$1 million showed that the costliest unit, a three-bedroom executive apartment in Geylang, is going at S$1.52 million. Located at Sims Avenue, the 1,800 sq ft unit is within walking distance to Eunos MRT station.
The second priciest is a four-bedroom, 1,776 sq ft executive maisonette in Hougang with a price tag of S$1.35 million. It is within close proximity to Hougang and Kovan MRT stations.
Meanwhile, the other eight flats have an asking price ranging from S$1.06 million to S$1.3 million.
A study of all 10 listings revealed that they are more than 1,000 sq ft each and within one-km from MRT stations. Most are executive maisonettes in the central Hougang area.
A real estate agent who spoke to PropertyGuru was not surprised over the sky-high flat prices, given their attributes such as an ideal location, high floor and unblocked views.
â€śGenerally, units on the high floor which are unblocked command a high asking price, especially in land-locked Singapore,â€ť said Khalil Adis.
He added that units in prime areas such as Redhill, Tanjong Pagar, Tiong Bahru, Holland Village and Bishan could be sold at S$1 million.
In particular, Pinnacle@Duxton is expected to â€śreach the million-dollar mark as the next few years, the units are eligible to be sold in the resale market after the five year Minimum Occupation Period (MOP) is fulfilledâ€ť, noted Adis.
Prices would depend on unit facing, floor location, amenities and proximity to MRT stations.
Going forward, million-dollar resale flats would â€ścertainly generate a lot of interest particularly from sellers in the area. This is because they will take this transaction as a benchmark and will want to equal or ask for a higher selling priceâ€ť, said Adis.
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