View Full Version : HDB (EA) at Mei ling Street sold for S$1mil
Was told there was a recent HDB EA sold for $1million at Mei Ling Street in Queenstown area, COV about $195k, #16 highest floor, anybody knows?
Did some other hdb flat beat pinnacle at duxton to that record first? I always felt that the duxton place will set the first record and make the tanjong pagar ward look good.
Did some other hdb flat beat pinnacle at duxton to that record first?
Pinnacle@Duxton will be pushed higher.
The last record was:
150 Mei Ling St 06 to 10 153.00
Maisonette 1995 $900,000.00 Aug 2012
Maybe will be updated soon with this new transaction.
:beats-me-man:
Pinnacle@Duxton will be pushed higher.
The $1m pyschological barrier is an important level. If it is broken, then sellers would have a lot more room nego on the upside.
phantom_opera
06-09-12, 18:56
it may alert Kenobi-wan and force him to come out to deal with the dark side again ;)
Allthepies
06-09-12, 19:11
HDB is super cheap @ 1mil for tat location and price. for this price u can probably can only a studio or 2 bedder max. to private investor, HDB is dammed cheap, the rental yield is extraordinary.
frankly in todays market a GOOD location HDB flat beats the Shi$ out of an ULU location PC...plus HDB is automatic FREEHOLD can u imagine a hdb block reaching 99 years old and GOVT throw all the occupants out....plus u got free painting upgrade and what NOT...believe in PAP believe in HDB...:D:D:D
it may alert Kenobi-wan and force him to come out to deal with the dark side again ;)
now doing testing in jurong..60yr lease:D
HDB may not even want to publish it....
bargain hunter
06-09-12, 19:42
i think the next hdbs which have a chance of crossing $1m would be those 5-rm flats beside the future havelock mrt, namely the point blocks:
94 and 95 havelock road and
blks 2C and 4A boon tiong road
then when pinnacle completes its 5 year moratorium, all hell breaks loose. :D
ikan bilis
06-09-12, 19:50
HDB may not even want to publish it....
hmm.... when the first hdb appointment comes,... the hdb counter staff will tell the buyer & seller the hdb computer system is unable to take 7-digit number (need to wait for next year's software upgrade)... so ended the flat transacted at $999,999... giving kbw some face and some breathing space/time... he got a weak $8 heart hor... ;)
ikan bilis
06-09-12, 19:54
it may alert Kenobi-wan and force him to come out to deal with the dark side again ;)
are you sure he is not already with the dark side ??... due to some cheapskate $8 heart operation ??... :doh:
deep down inside we all know the day will come...just waiting for some hero who has made tonnes of $$$ from private property maybe thru enbloc or whatever....to buy a top floor panoramic view next to MRT....hdb flat for 1 million...stay there for 5 years...enjoy the view...then he can rent out at PANORAMIC price and go back to invest in private property...TRUST me it WILL happen;)
What is 200k COV...PEANUTS to someone who made millions in enbloc or landed property....;)
ONLY way is for GOVT to STOP this group of people but can they NO they cant...Right...so just sit back and enjoy the show...:2cents:
ikan bilis
06-09-12, 20:15
heya... stirling road/mei-ling 3rm flat already hit S$750K liow.... what's wrong with EA at S$1mil... you guys complaining that EA on firesale izit ??... :hell-hath-no-fury: :D
Allthepies
06-09-12, 20:21
deep down inside we all know the day will come...just waiting for some hero who has made tonnes of $$$ from private property maybe thru enbloc or whatever....to buy a top floor panoramic view next to MRT....hdb flat for 1 million...stay there for 5 years...enjoy the view...then he can rent out at PANORAMIC price and go back to invest in private property...TRUST me it WILL happen;)
What is 200k COV...PEANUTS to someone who made millions in enbloc or landed property....;)
ONLY way is for GOVT to STOP this group of people but can they NO they cant...Right...so just sit back and enjoy the show...:2cents:
+1 tat why I say to the private investors, HDB is really dirt cheap...
+1 tat why I say to the private investors, HDB is really dirt cheap...
only thing if govt not happy then come out more cm aimed at hdb...but what can they do if valuation is 100k....i got money and qualify to buy hdb i want to pay $1 million...:D...they also LL
thats why i always say hdb=highly developed block...:D
Allthepies
06-09-12, 20:42
only thing if govt not happy then come out more cm aimed at hdb...but what can they do if valuation is 100k....i got money and qualify to buy hdb i want to pay $1 million...:D...they also LL
thats why i always say hdb=highly developed block...:D
Ha it would have reached 1 million sooner if not for the government CM tat prevented private owners to buy HDB easily :D :D :D
Ha it would have reached 1 million sooner if not for the government CM tat prevented private owners to buy HDB easily :D :D :D
definately...lets see what else govt does...:confused:
heya... stirling road/mei-ling 3rm flat already hit S$750K liow.... what's wrong with EA at S$1mil... you guys complaining that EA on firesale izit ??... :hell-hath-no-fury: :D
Think those not typical 3rm flat but landed 2-storey terrace...classified as 3rm.
Think those not typical 3rm flat but landed 2-storey terrace...classified as 3rm.
yup and they are 40 years old...:doh:
HDB may not even want to publish it....
I think for those agents here you can right, tell whether its true? very curious whether its correct or not.
I think for those agents here you can right, tell whether its true? very curious whether its correct or not.
i mean... 'you can check right'.
ikan bilis
06-09-12, 22:44
i mean... 'you can check right'.
haha... if it is false alarm or fake data... may be kenobi wan will be chasing you with his laser sabre... :luke-and-darth:
Regulators
07-09-12, 01:55
Huh? $750k for 3 room hdb? Did I hear wrongly? :doh: :doh:
heya... stirling road/mei-ling 3rm flat already hit S$750K liow.... what's wrong with EA at S$1mil... you guys complaining that EA on firesale izit ??... :hell-hath-no-fury: :D
Wow, $1m, it is more expensive than some of the pc. Some more, HDB owners enjoys most of the rebates from the govt + free building paintings every 5 yrs + subsidize upgrading + low cons fees etc. So how can govt based on the house to give rebates etc leh.:scared-3: Some HDB owners are really richer than pc owners.:cheers3:
Huh? $750k for 3 room hdb? Did I hear wrongly? :doh: :doh:
1 year back, my nephew bought a 25 yrs old 4 room HDB flat at Serangoon for $500k already.
No wonder Singapore has more and more rich people. If I'm eligible to buy HDB flat, I also want to buy, then later sell high high, hehe.
I always think that HDB flats are supposed to be cheap and for lower income earners only but I don't think so now, it has a mixture of rich, richer & richest people also. So not fair lah, why govt only curb on private ppty and not on resale HDB leh.
very soon the min for private is $1m liao:D
landed already reaching $3m:beats-me-man:
phantom_opera
07-09-12, 09:30
I am waiting for 1m HDB to offload mine, another 2-3y time :tsk-tsk:
欧央行无上限购买债券
美股创5年新高
欧股暴涨
金价破1700美元
We are on ecstasy drugs
1 year back, my nephew bought a 25 yrs old 4 room HDB flat at Serangoon for $500k already.
No wonder Singapore has more and more rich people. If I'm eligible to buy HDB flat, I also want to buy, then later sell high high, hehe.
I always think that HDB flats are supposed to be cheap and for lower income earners only but I don't think so now, it has a mixture of rich, richer & richest people also. So not fair lah, why govt only curb on private ppty and not on resale HDB leh.
very soon many people can only afford to rent hdb only:beats-me-man:
Regulators
07-09-12, 10:01
MM in 2011 already said prices of hdb flat won't come down so why you sell? It is as good as buying freehold pty.
I am waiting for 1m HDB to offload mine, another 2-3y time :tsk-tsk:
欧央行无上限购买债券
美股创5年新高
欧股暴涨
金价破1700美元
We are on ecstasy drugs
phantom_opera
07-09-12, 10:07
MM in 2011 already said prices of hdb flat won't come down so why you sell? It is as good as buying freehold pty.
HDB is meant to be bought, not SOLD ... jlrx :D
phantom_opera
07-09-12, 10:20
THE record for the most expensive HDB flat has been smashed. A 19th storey executive maisonette in Bishan has been sold for $980,000. The buyers are paying cash over valuation of $200,000, which is also believed to be a record
THE record for the most expensive HDB flat has been smashed. A 19th storey executive maisonette in Bishan has been sold for $980,000. The buyers are paying cash over valuation of $200,000, which is also believed to be a record
Got the article? Which street is it on?
bargain hunter
07-09-12, 10:25
so this bishan maisonette is the one which broke the record? or is there another one at mei ling street which really touched $1m? :confused:
THE record for the most expensive HDB flat has been smashed. A 19th storey executive maisonette in Bishan has been sold for $980,000. The buyers are paying cash over valuation of $200,000, which is also believed to be a record
phantom_opera
07-09-12, 10:30
it is in straits times premium edition ...
another stunning news
Singapore REITs yield world's best returns
Growth is twice that of advanced economies including the US, Britain and Japan
no wonder inflation so high :banghead:
ya, the S$1m HDB was sold by cousin of a close friend...
confirmed, confirmed....
Regulators
07-09-12, 10:33
Wonder what happened to Jlrx, now we have the opposite of jlrx, hobo B
HDB is meant to be bought, not SOLD ... jlrx :D
ya, the S$1m HDB was sold by cousin of a close friend...
confirmed, confirmed....
Where's KenoBiWan when you need him? Someone's using Jedi mind tricks on buyers to trick them into parting with $1m for a HDB
phantom_opera
07-09-12, 10:45
Where's KenoBiWan when you need him? Someone's using Jedi mind tricks on buyers to trick them into parting with $1m for a HDB
Kenobi-wan retreated after the Dark Side enbloc the Republic, secretly looking after the young PAP Skywalker, our new hope
beware of the most powerful and costly weapon of the Empire - The Death Star (Sky Habitat) ..:scared-1:
:cheers1:
Kenobi-wan retreated after the Dark Side enbloc the Republic, secretly looking after the young PAP Skywalker, our new hope
beware of the most powerful and costly weapon of the Empire - The Death Star (Sky Habitat) ..:scared-1:
:cheers1:
enjoy reading your postings...including the bear party pic
:cheers4:
This milestone deserves to be on the headlines when it is official.
phantom_opera
07-09-12, 11:16
Oh My God
http://upload.wikimedia.org/wikipedia/commons/thumb/5/55/Mario_Draghi_-_World_Economic_Forum_Annual_Meeting_2012.jpg/220px-Mario_Draghi_-_World_Economic_Forum_Annual_Meeting_2012.jpg
http://upload.wikimedia.org/wikipedia/en/thumb/8/84/Palpatine1.jpg/220px-Palpatine1.jpg
bargain hunter
07-09-12, 11:17
so in a short span of time, we have 2 hdb units transacted at or near $1m? :scared-1:
so in a short span of time, we have 2 hdb units transacted at or near $1m? :scared-1:
more to come
Just realised there is at least 3 Mario bros in the euro zone...
THE record for the most expensive HDB flat has been smashed. A 19th storey executive maisonette in Bishan has been sold for $980,000. The buyers are paying cash over valuation of $200,000, which is also believed to be a record
Heard this on Radio this morning.
more to come
I strongly believe so, more will come.
ya, the S$1m HDB was sold by cousin of a close friend...
confirmed, confirmed....
So its confirm, its just not published on HDB InfoWeb yet? Huat Ah!!!
double confirm only... haven't double chop sign
double confirm only... haven't double chop sign
ya right, unless something happen before completion and the 1st/2nd HDB appointment. This one OTP days over?
bargain hunter
07-09-12, 12:38
interesting huh, u got $1m news but the paper did not or rather, choose not to. instead they report the 980k one first so that when they report the 1m one later, lesser impact? ;)
So its confirm, its just not published on HDB InfoWeb yet? Huat Ah!!!
interesting huh, u got $1m news but the paper did not or rather, choose not to. instead they report the 980k one first so that when they report the 1m one later, lesser impact? ;)
The newspaper got report.. Just that the transaction is still 'in the works' that's why never make headlines yet. But the same article got talk about it
bargain hunter
07-09-12, 13:01
anyone has online version of the article to post here?
i've only got BT, no ST. :ashamed1:
The newspaper got report.. Just that the transaction is still 'in the works' that's why never make headlines yet. But the same article got talk about it
Which one?
Bishan HDB executive maisonette changes hands for record $980,000
Sep 07, 2012
By Daryl Chin
Despite its steep $980,000 asking price, a Bishan executive maisonette was snapped up on the first day of an open house held to sell it.
The buyers are a Singapore citizen and her Chinese-national father, and the seller is a Singaporean woman who is relocating to Shanghai for work.
The price tag makes this the most expensive Housing Board (HDB) resale flat sold. The last record was held by an executive flat in Toa Payoh, which was sold for $910,000 in May this year.
The $980,000 includes a $200,000 cash over valuation (COV), which is a premium paid to the seller in cash. It is also believed to be the highest ever COV reported.
ERA Realty's Cheryl Clare Ng, the agent of the Bishan seller, said 40 people viewed the 25-year-old property in Bishan Street 13 within the first two hours of the open house in June.
Its simple furnishings did not deter the buyers.
Instead, they were won over by how it is a spacious 1,800 sq ft and comes with a rare 150 sq ft open roof terrace.
Other attractions, Ms Ng noted, are its proximity to amenities such as schools.
The Bishan bus and MRT interchange is less than a 10-minute walk away.
"It's also on the 19th floor, has a great view and it is very airy most of the time," she said.
Dennis Wee Group property agent Thomas Hee, who represented the buyers, said such spacious maisonette units with open terrace roofs are hard to come by. There are only 48 such homes islandwide, he said.
In 2005, a unit like this would have cost about $550,000.
"When they are put up for sale, they're always snapped up," said Mr Hee. "In this case, the buyer was able to meet the owner's expectations very quickly."
Yesterday, buyer and seller met at the HDB Hub for staff to vet documents and do eligibility checks.
The process is expected to be finalised within two months, and both parties parted ways with smiles on their faces.
Ms Ng said the buyers got a good deal: "If you compare it to a similar condo unit, you are effectively paying half the price for twice the space."
The $980,000 price equates to about $550 per sq ft.
A similar-sized condominium unit nearby would fetch at least $1,300 psf.
Property analysts, however, were quick to point out that the record-breaking deal is a one-off that is unlikely to drive up resale flat prices or COV quantums.
ERA Realty key executive officer Eugene Lim said he is not surprised that the Bishan unit fetched a high price since such homes are rare and flats in the area usually command a premium.
Most home hunters The Straits Times spoke to, however, baulked at the small fortune paid for the Bishan unit.
Said receptionist Agnes Ho, 34: "It is a very big investment to fork out, particularly if it's in cash."
But some saw it as a sound investment. Civil servant Andrew Wong, 28, said: "Essentially, you are also getting all the conveniences of a good location at a fraction of the price."
Many more to come, just like bro opera said. Look below. in fact, supposedly many of the valuations ALREADY CROSSED MILLION.
http://www.propertyguru.com.sg/singapore-property-listing?listing_type=sale
hmmm all are EA or EM or Jumbo la....
eg.
Property Info
Description
Serious Seller!
Tenanted, Viewing by Appointment only!
Renovated Executive Maisonette 3 1. (Duplex)
Nearby like Changi Airport, Changi Business Park, Changi Hospital, etc.
Suitable to rent out to Pilots, Stewards, Stewardess, Nurses, IT Professionals, Banking Staff
Do not hesitate. Hurry Call 92354014 now
DetailsProperty Name: 119 Tampines Street 11
Property Type: HDB Apartment
Price: S$ 1,100,000
Valuation Price: S$ 1,150,000
Price (psf): S$ 642.15 psf (built-in)
Floor Area: 1,713 sqft / 159.14 sqm (built-in)
Condition: Fully Furnished
Developer: Housing
ikan bilis
07-09-12, 14:22
in 2009 mbt time, when economy future was very unstable/unpredictable, queenstown SkyVille@dawson, SkyTerrace@Dawson already seling around $600K for 5rm BTO flat....
http://www.h88.com.sg/article/HDB+finally+launches+Dawson+BTO+along+with+Bukit+Panjang+and+Sembawang+projects/
so,....
- that was $600K for 5rm BTO price, what would the resale price be ??
- that was 5rm flat only, what would be the resale price for EM/EA ??
- that was 2009 financial crisis time... what would be the price now 3yrs later in 2012 ??..
:beats-me-man: :(
phantom_opera
07-09-12, 14:23
The Ponzi scheme will end one day, humans never learn from history
Can we escape this curse?
hmmm all are EA or EM or Jumbo la....
eg.
Property Info
Description
Serious Seller!
Tenanted, Viewing by Appointment only!
Renovated Executive Maisonette 3 1. (Duplex)
Nearby like Changi Airport, Changi Business Park, Changi Hospital, etc.
Suitable to rent out to Pilots, Stewards, Stewardess, Nurses, IT Professionals, Banking Staff
Do not hesitate. Hurry Call 92354014 now
DetailsProperty Name: 119 Tampines Street 11
Property Type: HDB Apartment
Price: S$ 1,100,000
Valuation Price: S$ 1,150,000
Price (psf): S$ 642.15 psf (built-in)
Floor Area: 1,713 sqft / 159.14 sqm (built-in)
Condition: Fully Furnished
Developer: Housing
Its all these big units have to move first, then the 5-rooms and 4-rooms will catch up, and the Pte Pty follow as well. Knew one day HDB will cross $1mil, just didn't know it will come so fast.
phantom_opera
07-09-12, 14:26
Its all these big units have to move first, then the 5-rooms and 4-rooms will catch up, and the Pte Pty follow as well. Knew one day HDB will cross $1mil, just didn't know it will come so fast.
yeah, if EM asking too high then EA, if EA asking too high then 5r HDB
the poor SCs/SPRs hit the 3r HDB resale, the rich dad Chinese throws cash at EM/EA
Japan here we come :eek:
ikan bilis
07-09-12, 14:27
The Ponzi scheme will end one day, humans never learn from history
Can we escape this curse?
bro... normally you join the ponzi scheme party bcoz of greed...
but this 1 is public housing hor... you need a roof and got no choice die die forced to join in.... :beats-me-man: :(
Not if the public housing scheme is built upon this same foundation....
Bishan EM sold for $980K.. read post 'up up and away...."
phantom_opera
07-09-12, 14:54
40 parties view the flat in first 2h ... demand is so great and these ppl are SO RICH that they have at least 400k cash to foot the 200k COV + 20% upfront payment
Where is Obiwan Kenobi .... Prince Leia needs your help :scared-3:
phantom opera today become phantom menace lol
bargain hunter
07-09-12, 15:24
thanks bro. only one article rite? :)
hmm, did they have to highlight that an ex chinese national and her chinese national father bought it? :rolleyes:
Which one?
Bishan HDB executive maisonette changes hands for record $980,000
Sep 07, 2012
By Daryl Chin
Despite its steep $980,000 asking price, a Bishan executive maisonette was snapped up on the first day of an open house held to sell it.
The buyers are a Singapore citizen and her Chinese-national father, and the seller is a Singaporean woman who is relocating to Shanghai for work.
The price tag makes this the most expensive Housing Board (HDB) resale flat sold. The last record was held by an executive flat in Toa Payoh, which was sold for $910,000 in May this year.
The $980,000 includes a $200,000 cash over valuation (COV), which is a premium paid to the seller in cash. It is also believed to be the highest ever COV reported.
ERA Realty's Cheryl Clare Ng, the agent of the Bishan seller, said 40 people viewed the 25-year-old property in Bishan Street 13 within the first two hours of the open house in June.
Its simple furnishings did not deter the buyers.
Instead, they were won over by how it is a spacious 1,800 sq ft and comes with a rare 150 sq ft open roof terrace.
Other attractions, Ms Ng noted, are its proximity to amenities such as schools.
The Bishan bus and MRT interchange is less than a 10-minute walk away.
"It's also on the 19th floor, has a great view and it is very airy most of the time," she said.
Dennis Wee Group property agent Thomas Hee, who represented the buyers, said such spacious maisonette units with open terrace roofs are hard to come by. There are only 48 such homes islandwide, he said.
In 2005, a unit like this would have cost about $550,000.
"When they are put up for sale, they're always snapped up," said Mr Hee. "In this case, the buyer was able to meet the owner's expectations very quickly."
Yesterday, buyer and seller met at the HDB Hub for staff to vet documents and do eligibility checks.
The process is expected to be finalised within two months, and both parties parted ways with smiles on their faces.
Ms Ng said the buyers got a good deal: "If you compare it to a similar condo unit, you are effectively paying half the price for twice the space."
The $980,000 price equates to about $550 per sq ft.
A similar-sized condominium unit nearby would fetch at least $1,300 psf.
Property analysts, however, were quick to point out that the record-breaking deal is a one-off that is unlikely to drive up resale flat prices or COV quantums.
ERA Realty key executive officer Eugene Lim said he is not surprised that the Bishan unit fetched a high price since such homes are rare and flats in the area usually command a premium.
Most home hunters The Straits Times spoke to, however, baulked at the small fortune paid for the Bishan unit.
Said receptionist Agnes Ho, 34: "It is a very big investment to fork out, particularly if it's in cash."
But some saw it as a sound investment. Civil servant Andrew Wong, 28, said: "Essentially, you are also getting all the conveniences of a good location at a fraction of the price."
Oh, it's one of those with a roof terrace. That means it should be one of those point blocks.
phantom_opera
07-09-12, 16:06
phantom opera today become phantom menace lol
sooner or later we need to face the music of the night
http://www.youtube.com/watch?v=jZTsIljP9RQ
All I Ask Of You.... is keep em comin
interesting huh, u got $1m news but the paper did not or rather, choose not to. instead they report the 980k one first so that when they report the 1m one later, lesser impact? ;)
The news is out, just saw it on channel 8 news, $1mil HDB in Queentown.
Bishan was on page 2 of the papers. This can be on tomorrow's page 1.
Bishan was on page 2 of the papers. This can be on tomorrow's page 1.
Maybe they want to time it with Prince will & kate's visit to queenstown...see what a $1m HDB looks like...:D
bargain hunter
07-09-12, 22:37
yeah, saw it. :)
The news is out, just saw it on channel 8 news, $1mil HDB in Queentown.
bargain hunter
07-09-12, 22:38
i doubt so. they still said "COULD BE", ie option yet to be exercised?
Bishan was on page 2 of the papers. This can be on tomorrow's page 1.
I think only a nuclear event would stop someone who paid about $200k over valuation from exercising his/her option.
Bishan was on page 2 of the papers. This can be on tomorrow's page 1.
Now the neighbor (same unit type) of that 980k unit in Bishan will go ask for $1.1mil, highly possible.
:banghead: :banghead: :banghead: everytime when people talked about Bishan, my heart ached, do you know, my previous 5 room HDB flats was at St 13 too. It is near to MRT and Junction 8.
:banghead: :banghead: :banghead: everytime when people talked about Bishan, my heart ached, do you know, my previous 5 room HDB flats was at St 13 too. It is near to MRT and Junction 8.
Someone has to sell in order for price to go up mah. :D
News out..deal still in progress
S$200,000 COV record could be broken soon
By Wong Siew Ying | Posted: 07 September 2012 2153 hrs
SINGAPORE: The cash-over-valuation (COV) component in HDB resale transactions is rising and it could hit over S$200,000 soon.
COV refers to the sum of cash that needs to be paid by a buyer over and above the market valuation of a flat.
Real estate agents said the median COV paid for HDB resale flats has risen by about 12 percent to S$30,000 in the third quarter so far.
But for a Bishan unit, the COV has hit a record high of S$200,000. The executive maisonette at Bishan Street 13 was sold for S$980,000 including the S$200,000 COV.
Mr Lee Sze Teck, senior manager of training, research and consultancy at Dennis Wee Group, said: "Our agents actually closed a couple of deals in Bishan, one with about S$200,000 COV, the other S$250,000 COV. Both are for executive maisonettes."
Once the sale is completed, the S$250,000 COV will surpass the S$200,000 paid for the Bishan unit at Street 13.
"There is another on-going transaction in Queenstown, where an executive maisonette is transacted at S$1 million and the COV is S$195,000. According to the buyer, he has bought into this unit because of the fengshui and also for the unblocked view from the bedroom," added Mr Lee.
Property agents said those who pay high COVs are typically buyers who are downgrading from private landed properties.
Six-figure COVs are very rare and only for choice units with excellent attributes, they said.
Market watchers said these large price tags are not likely to swing HDB resale prices significantly, because there are not many such cases.
Overall, they said HDB resale prices are inching up because valuation has been climbing. Prices could go up by some 1.5 percent this year, they added.
The COV portion is also likely to trend higher, as more buyers are entering the market, especially for attractive units in mature towns, said property agents.
ERA's key executive officer, Eugene Lim, said: "We do see significant increases. For example, in towns like Bishan, Queenstown, Toa Payoh, you can see COV increase at a median level of between 30 and 40 percent between the second quarter and third quarter. This is more than double of the norm."
For the third quarter, analysts expect a total of 6,800 to 7,000 units of HDB resale flats to be sold - similar to the number of deals done in the second quarter.
Real estate agents advise buyers to be prudent and consider the upside potential of any home purchase as it is a long-term commitment.
Another consideration is the large supply of new HDB flats that will come on-stream in the next few years.
ERA's Mr Lim said: "If you factor in the 3-year construction, 5-year minimum occupation period (before an owner can sell his flat), in about 8 years, you are going to see a lot more flats which will be eligible for resale. So, what impact will that have on resale prices in the years to come?"
Home buyers should also think about whether they will be able to ride out the market cycle if the economy hits a bad patch.
- CNA/ir
any cooling measure for HDB on the way? :o
any cooling measure for HDB on the way? :o
Where the wealth of 70% to 80% of your voter base is concerned, you think they want to mess with that ?
Allthepies
07-09-12, 23:59
any cooling measure for HDB on the way? :o
All players with >10K income cannot buy HDB, new and resale inclusive!? :scared-3:
Hdb new owners huat ah.
future generation siao liao ah
Allthepies
08-09-12, 09:43
future generation siao liao ah
Only high floor large sized HDB in prime locations with good attributes can command this price. The rest of HDB can tan ku ku ;)
Buyer is a china chinese national who. Is now a Singapore citizen.
SEPTEMBER 08, 2012
Fancy a million-dollar HDB apartment?
Executive maisonette on Mei Ling Street could cross that figure in just-concluded deal
BY FELDA CHAY
An executive maisonette on Queenstown's popular Mei Ling Street could become the first public housing apartment to be sold for a million dollars.
The first appointment with the Housing & Development Board (HDB) has yet to be completed, though the buyer and seller have come to an agreement on the price, said Lee Sze Teck, senior manager at DWG's research and consultancy division.
DWG is brokering the deal, under which the Singaporean buyer has agreed to pay a cash premium of $195,000 for the flat, which is located near the Queenstown MRT Station. No details were given on the size of the apartment.
If the sale goes through, the home will sit at the top of a list of HDB apartments that have been sold at prices close to $1 million this year. At least 19 homes have changed hands for over $800,000, with nine of them crossing the $900,000 mark, data from SRX and ERA Realty showed.
Experts, however, say there is no bubble in the market. Homes transacting at such prices are usually located in popular areas, and may have highly sought-after design features that are rare for public housing.
Mei Ling Street, for instance, is just opposite Queenstown MRT Station, said Mr Lee.
"This is a very popular area. Many residents say they enjoy an unblocked view and it is very near the MRT station."
Buyers of homes along the street have given reasons such as the good view and home layout as reasons for their willingness to splash on their apartment of choice, added Mr Lee. Some have even cited good fengshui as a reason.
For an executive maisonette in Bishan that was sold at close to $1 million, the home came with a roof terrace, which is rare for public housing, said ERA Realty key executive officer Eugene Lim. "There are not many of such units (that come with a roof terrace). So they are a highly sought-after commodity," said Mr Lim. "But the majority of transactions are not like that".
He noted that homes in "hot areas" - such as Bishan, Toa Payoh, Queenstown and Marine Parade - generally see buyers who are willing to fork out top dollar. But in other areas, prices are far more moderate.
"So what you see (for these homes that are sold at over $800,000) is top-of-the-range pricing. If you draw a bell curve, they will be right at the top, but they are not reflective of the general market."
According to an SRX report issued yesterday, the median resale price of homes in Bishan compiled on Aug 5 was $520,000, and in Marine Parade it was $532,500. The median resale price of HDB apartments in Queenstown was $517,500.
In contrast, homes in Ang Mo Kio fetched a median resale price of $398,000, while for those in Bedok it was $412,000.
Homes in highly sought-after areas also tend to see higher cash premiums, noted Mr Lee.
When it comes to median cash over valuation (COV), Bishan homes had a $47,000 cash premium, based on data compiled on Aug 5, said the SRX report. In Marine Parade, this was $45,000, and in Queenstown, $38,944.
Houses in Ang Mo Kio and Bedok registered a median COV of $30,000.
Someone has to sell in order for price to go up mah. :D
That's why now I :banghead: :banghead: :banghead: :scared-3: :scared-3: :scared-3: lor. Actually I quite like my previous home (121 sqm), corner house, it was spacious, squarish in shape, all the rooms and kitchen are big, main door facing East but no west sun (block by my neighbour), near to CC, NTUC, coffeeshop, schools, swimming complex, the most important is, it is near to MRT/bus terminal. But no choice lor, that time no guts to commit PC and instead went for EC (a dream for pte ppty). Haha, as though I am selling my house. My agent was new in this field, I was her 1st client, she was my husband's colleague wife, almost everyday, bring people to view my house, made me so busy, I had to keep on rushing back from work (I work part-time), total I think also got >30 people. Quite a few of them looked interested, some even came to view 2 or 3 times, in the end I sold it to a PRC. First time, selling house, also no experience, should know this forum earlier so that I can get some advise, sign.... I still keep my old house photos, have sentimental value.:o
phantom_opera
08-09-12, 11:19
Agents all snakes, quickly say such deals are rare, when EM is 1m what u think 5r price will be next door?
Agents all snakes, quickly say such deals are rare, when EM is 1m what u think 5r price will be next door?
My agent told me that I could not sell at my stated price, kept on asking me to lower my price, I think she was trying to clinch the 1st deal, 1st deal is important for a "businessman". Learn from my lesson, never engage an inexperience agent and some more is friend, difficult to reject them and bargain with them, paseh lor.
How come she not paiseh when asking you to lower price?
Always tough to ask related party to market for you.
Regulators
08-09-12, 12:39
http://www.propertyguru.com.sg/real-estate-video/758
That's why now I :banghead: :banghead: :banghead: :scared-3: :scared-3: :scared-3: lor. Actually I quite like my previous home (121 sqm), corner house, it was spacious, squarish in shape, all the rooms and kitchen are big, main door facing East but no west sun (block by my neighbour), near to CC, NTUC, coffeeshop, schools, swimming complex, the most important is, it is near to MRT/bus terminal. But no choice lor, that time no guts to commit PC and instead went for EC (a dream for pte ppty). Haha, as though I am selling my house. My agent was new in this field, I was her 1st client, she was my husband's colleague wife, almost everyday, bring people to view my house, made me so busy, I had to keep on rushing back from work (I work part-time), total I think also got >30 people. Quite a few of them looked interested, some even came to view 2 or 3 times, in the end I sold it to a PRC. First time, selling house, also no experience, should know this forum earlier so that I can get some advise, sign.... I still keep my old house photos, have sentimental value.:o
Just to share,
It is easier to fire a person that you dun know than to engage someone that you know. Director level at least as they normally have a team of agents (but depend also lah), better networking, more experience in 'closing deals'. One of my pte was sold 8% higher than the last peak in 2 weeks.
My agent told me that I could not sell at my stated price, kept on asking me to lower my price, I think she was trying to clinch the 1st deal, 1st deal is important for a "businessman". Learn from my lesson, never engage an inexperience agent and some more is friend, difficult to reject them and bargain with them, paseh lor.
set time frame and expire her if cannot deliver ... then change agent:D
agent cannot max gain and hit higher than your asking is a lousy one ..david cheek to ask lower price somemore:doh:
now is still good time to hit higher:D
How come she not paiseh when asking you to lower price?
That's why she can be an agent, "thick skin" lor. :D
Just to share,
It is easier to fire a person that you dun know than to engage someone that you know. Director level at least as they normally have a team of agents (but depend also lah), better networking, more experience in 'closing deals'. One of my pte was sold 8% higher than the last peak in 2 weeks.
Agree. It is very difficult to negotiate with someone whom you know. That's why now I don't like to buy things from friends or relatives unless I have no choice or that I know about the pricing. I prefer to buy from someone whom I don't know, then start asking for discounts like an auntie, hehe.:D
set time frame and expire her if cannot deliver ... then change agent:D
agent cannot max gain and hit higher than your asking is a lousy one ..david cheek to ask lower price somemore:doh:
repeat post.
set time frame and expire her if cannot deliver ... then change agent:D
agent cannot max gain and hit higher than your asking is a lousy one ..david cheek to ask lower price somemore:doh:
Next time, I'll know what to do. Learn from mistake.:cheers4: Maybe we are too soft-hearted already.:D
Next time, I'll know what to do. Learn from mistake.:cheers4: Maybe we are too soft-hearted already.:D
That was why she seized the opportunity but kind enough for you to gave the chance
That was why she seized the opportunity but kind enough for you to gave the chance
Frankly speaking, this was what I think in the 1st place but never expect to end up like that lor, sign.... :sleep:
News reported, buyer sold his landed.
News reported, buyer sold his landed.
what about the seller... downgrade to smaller HDB or buy Pte?
buttercarp
12-09-12, 21:58
News reported, buyer sold his landed.
Haven't read the news....... The buyer must be an old person?
Seller bought slightly below 800k 5-6 yrs ago, buyer like the reno & deal closed. The agent happy happy like won gold medal.:p
Haven't read the news....... The buyer must be an old person?
30s~40s, maybe u can catch it on ch 8 news.
News reported, buyer sold his landed.
Buyer sold their pte pty (dun know condo or landed), seller bot condo nearby :D Huat Ah!!!
When duxton pinnacle finishes their MOP, I think we will see $1m quite frequently there.
phantom_opera
13-09-12, 09:35
When duxton pinnacle finishes their MOP, I think we will see $1m quite frequently there.
The peak of the cycle will be reached ... good luck for Duxton owners :p
phantom_opera
13-09-12, 09:49
Super crappy Interior
http://www.straitstimes.com/sites/straitstimes.com/files/imagecache/story-gallery-featured/ST_20120913_DCHDB13A_3296705e.jpg
Does not have that million dollar feel outside too
http://www.straitstimes.com/sites/straitstimes.com/files/imagecache/story-gallery-featured/ST_20120913_DCHDB13B_3296651e.jpg
The ceiling looks low and the vicinity looks barren... :D
HDB ceilings are low, after put in false ceiling or ceiling fan will be even lower.
Is this the interior of that $1million flat in mei ling road?
Super crappy Interior
http://www.straitstimes.com/sites/straitstimes.com/files/imagecache/story-gallery-featured/ST_20120913_DCHDB13A_3296705e.jpg
Does not have that million dollar feel outside too
http://www.straitstimes.com/sites/straitstimes.com/files/imagecache/story-gallery-featured/ST_20120913_DCHDB13B_3296651e.jpg
Super crappy Interior
http://www.straitstimes.com/sites/straitstimes.com/files/imagecache/story-gallery-featured/ST_20120913_DCHDB13A_3296705e.jpg
Does not have that million dollar feel outside too
http://www.straitstimes.com/sites/straitstimes.com/files/imagecache/story-gallery-featured/ST_20120913_DCHDB13B_3296651e.jpg
Thats right, why $1mil, reno style looking familiar. Worth it?
phantom_opera
13-09-12, 11:25
I know the Chinese strategy, they will buy out all HDB EMs at hot area and have monopoly
phantom_opera
13-09-12, 11:30
PropNex CEO Mohamed Ismail said: "Although a new milestone has been set, when you look at the upward movement in property prices and taking inflation into account, a $1 million price tag for a flat, perhaps unimaginable 10 years ago, might be common for sought-after flats now.
=> common for sought-after flats now ... singing opposite tune to Kenobi-wan
620psf for that flat :p
More owners in this area area will sell higher than $1m with better furnishing than this one. :scared-4:
its the horrid curtain and baby floor mat.
outside quite alright spick and span
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