5-room flat in Ghim Moh fetches $963,888, 2nd most expensive in area this year

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SINGAPORE – A five-room flat at Ghim Moh recently became the second most expensive public flat ever in the Queenstown area.

According to data published on the Housing and Development Board (HDB) website, the unit at Ghim Moh Link fetched $963,888 in June.

It is located between the 19th and 21st storey at Block 23, and has an area of 1,216.32 square feet. The price tag works out to approximately $792 per square foot.

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Ghim Moh Link is conveniently located within 400m from both the Buona Vista and Holland Village MRT stations.

It is also close to The Star Vista shopping mall, while the trendy bars and restaurants at Holland Village are just 10 minutes away by car.

Schools nearby include Ghim Moh Primary School, Henry Park Primary School, Fairfield Methodist Primary School, and Anglo Chinese Junior College.

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According to the HDB website, this is the tenth five-room flat in the Queenstown estate to fetch $900,000 or more so far this year. In 2015, 15 such flats in the area changed hands for prices in the same range.

Another Ghim Moh Link five-roomer was the first in the area to be sold for over $900,000 this year, when it fetched an auspicious-sounding $948,888. In December last year, two other flats at Block 22 and Block 28 were sold for $955,000 and $930,000.

Prices of flats in the estate have remained in the high range despite news of a weaker property market this year. The most expensive so far this year was the $968,000 high-floor unit at Buona Vista Court along Holland Drive.

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Mr Zavier Zhang, associate senior marketing director at Huttons Asia, told AsiaOne that the high prices in Queenstown were not surprising due to the estate’s central location and limited supply of land.

“Units along Ghim Moh Link, in particular, will be pricey as it is a new development and is fairly well-connected, being within walking distance to the Buona Vista MRT station,” he said.


Source : http://business.asiaone.com/property/news/5-room-flat-ghim-moh-fetches-963888-2nd-most-expensive-area-year

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