5 room Housing Board loft unit in Punggol sells for $970,000

A five-room Real estate Board loft device in Treelodge @ Punggol altered hands for $970,000 last month, the 6th flat in Punggol that has actually brought more than $900,000 given that 2019.

However, while million-dollar HDB resale offers currently regularly make headlines, these flats are in fully grown estates, and also experts state it may take some time prior to similar purchase surface areas in a non-mature estate.

High flooring, great sights, area, as well as the system’s renovations, are some aspects that commonly characterize a million-dollar HDB resale level, claimed ERA Real estate head of research as well as working as a consultant Nicholas Mak.

“There is likewise the question of whether there is a buyer that agrees to pay $1 million. If you do have that cash to invest, there are lots of areas to pick from, so afar non-mature locations like Punggol may not be the first choice,” he claimed.

“Eventually, in many years to find, there will certainly be $1 million apartments in all parts of Singapore, merely due to inflation. However in the shorter term, a minimum of for the next one year, I do not assume we’ll see any million-dollar apartments in outlying areas,” added Mr Mak.

Ms Christine Sun, senior vice-president of research study and also analytics at OrangeTee & Connection, shared comparable beliefs, noting that thus far, only six systems in Punggol have sold for greater than $900,000.

“The numbers are not big. We might see one (resale device) in non-mature areas crossing the $1 million mark yet it may still take a while,” she said.

Till now, there has been just one-million-dollar deal in a non-mature estate.

In January 2018, a 177 sq m maisonette unit at Block 851 Hougang Central altered hands for $1 million. The level, on one of the highest possible floorings in the 15-storey block, had 78 years left in the 99-year lease.

HDB loft space units are a kind of premium apartment or condos that are extremely desired for their larger space like Parc Greenwich and also double-storey height, which are unusual features for public housing.

November likewise saw 29 HDB resale apartments altering hands for at least $1 million, smashing the previous month-to-month document of 26 in August.

This brings the overall number to 223 in the first 11 months of this year, in what has already been a record year for million-dollar apartments. All remain in fully grown estates such as Bishan, Queenstown, and also Toa Payoh.

There were 82 million-dollar resale apartments for the entire of last year.

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