4-room Clementi flat, 5-room Redhill unit fetch $900,000 and more

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SINGAPORE – The prices of Housing Board (HDB) flats have fallen by more than 10 per cent from their 2013 peaks but the last two months have still seen at least two units sold for record-breaking prices.

The first is a four-room flat in Clementi, which was sold for $900,000 in June this year.

The unit is located between the 22nd and 24th levels at Block 441B Clementi Avenue 3, and has an area of 1,033.34 sq ft, according to data on the HDB website.

It is situated next to the Clementi MRT station, Clementi Bus Interchange as well as the Clementi Mall.

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The first flat in the area to cross the $900,000 mark was another unit at neighbouring Block 441A, which was resold for that price in December last year.

According to data from the HDB website, the two Clementi units are among just four four-room flats outside of the landmark Pinnacle@Duxton that has fetched $900,000 or more in the past year.

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The other two units to have been sold at such a high price are two rare terrace flats located along Stirling Road in Queenstown. They were sold for $980,000 and $940,000 in April and May respectively.

Separately, data on the HDB website also reveals that a 20-year-old five-room flat in Redhill was sold for $950,000 last month.

The 1,496.18 sq ft unit is located at 81 Redhill Lane. It is located beside Redhill Market and Food Centre and close tothe Redhill MRT station, with Tiong Bahru Plaza also nearby.

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According to real estate portal The Edge, the price means that it also matches the most expensive transaction for five-roomers in the area, set by a unit along Kim Tian Road in October last year.

Only one other unit in Bukit Merah town, another five-roomer at Jalan Membina, has hit the $900,000 mark so far this year.

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In 2015, a total of nine five-room units in the area changed hands for $900,000 or more.

On the whole, the month of May saw prices of HDB resale flats increase slightly by 0.2 per cent, with a total of 1,826 units changing hands, according to SRX Property’s flash report.


Source : http://business.asiaone.com/property/news/4-room-clementi-flat-5-room-redhill-unit-fetch-900000-and-more

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