View Full Version : HDB EM penthouse unit in Bishan sold for $1.05m with $250k COV
princess_morbucks
14-01-14, 10:10
https://www.facebook.com/Official938LIVE/timeline?filter=3
A penthouse unit of an HDB executive maisonette in Bishan was sold for a record 1.05-million dollars in December.
According to the Singapore Real Estate Exchange or SRX, the unit also fetched a record 250-thousand dollar cash premium or Cash-Over-Valuation.
But property analysts stress that such transactions are rare.
The unit's selling agent says the 150-square metre penthouse unit was sold to a young Singaporean couple who are professionals.
SRX data shows the overall median cash premium island-wide fell from a peak of 35-thousand dollars in January last year to five thousand dollars in December.
HDB resale flat prices also declined in the last two quarters of 2013.
I wont be surprise that this kind of apartment will also come with $200k worth of reno
princess_morbucks
14-01-14, 12:07
http://business.asiaone.com/property/news/hdb-maisonette-sells-record-105m-bishan
http://business.asiaone.com/sites/default/files/styles/medium/public/2014/01/14/st_bishan_190_sale.jpg
Must have been an awesome facing or perhaps due to some unique factors like near good school or near parents house etc.
1Million+ :scared-4:
proud owner
14-01-14, 17:35
cheap cheap
many moons ago, a malay family bought a maisonette in Bishan too ..for some 8xxk.
after that prices crashed ... some 10 over years later ... then we see another sale of that level ...
hope this 1xxxk sale can sustain the trend and the buyers stay happy and not look at how price will move from here forth
Young and rich YEAH~
https://www.facebook.com/Official938LIVE/timeline?filter=3
A penthouse unit of an HDB executive maisonette in Bishan was sold for a record 1.05-million dollars in December.
According to the Singapore Real Estate Exchange or SRX, the unit also fetched a record 250-thousand dollar cash premium or Cash-Over-Valuation.
But property analysts stress that such transactions are rare.
The unit's selling agent says the 150-square metre penthouse unit was sold to a young Singaporean couple who are professionals.
SRX data shows the overall median cash premium island-wide fell from a peak of 35-thousand dollars in January last year to five thousand dollars in December.
HDB resale flat prices also declined in the last two quarters of 2013.
proud owner
14-01-14, 17:40
Young and rich YEAH~
for any Professional couple ... 1.0x mio is easy lah ... no need to be rich to pay this price
many moons ago, a malay family bought a maisonette in Bishan too ..for some 8xxk.
after that prices crashed ... some 10 over years later ... then we see another sale of that level ...
hope this 1xxxk sale can sustain the trend and the buyers stay happy and not look at how price will move from here forth
That was before the World Money printing competition.
https://scontent-a-cdg.xx.fbcdn.net/hphotos-ash3/t1/1231673_10200964835936045_846128508_n.jpg
http://www.rapidtrends.com/images-blog/m3b-nov7-2008.png
http://www.rapidtrends.com/2008/11/08/m3-money-supply-chart-baltic-dry-index-chart/
for any Professional couple ... 1.0x mio is easy lah ... no need to be rich to pay this price
They will be buying PC.
for 1mil, what do you get at sky habitat ? smart move if you think about it
proud owner
14-01-14, 18:19
for 1mil, what do you get at sky habitat ? smart move if you think about it
exactly ... 2 professionals ... need not be rich to buy that HDB ...
they are just 'down to earth'
HDB under value. Valuation control by HDB, just ask the Bank to do the valuation and see what happen to the resale price.
They need to start thinking of moving the oversize HDB over to the private otherwise HDB SGD 1 million don't sound great for the next election.
Allthepies
14-01-14, 18:54
good deal I don't know but definitely not investment savvy ; ) 5 year lock in and 1.05mil....
good deal I don't know but definitely not investment savvy ; ) 5 year lock in and 1.05mil....
resale also get 5 years lock-in now?
for those with limited depth of pocket, big sized HDB at a good location is a reasonable choice for ownstay, at least better than those with 4-5 person squeezing in a 2-bedder PC. Just do not know how old that EM is.
good deal I don't know but definitely not investment savvy ; ) 5 year lock in and 1.05mil....
people who buy such apartment are for enjoyment, they dont really care too much about price appreciation. Perhaps they have some to an age where they believe that you cant bring your apartment to the other side when you expire.
clemdale24
14-01-14, 21:42
the article says its on the 20th floor of block 190. check onemap - its rather close to the mrt.
proud owner
14-01-14, 22:06
people who buy such apartment are for enjoyment, they dont really care too much about price appreciation. Perhaps they have some to an age where they believe that you cant bring your apartment to the other side when you expire.
this thinking can be dangerous if applied wrongly
a lot of youngsters think that way ...
what if I die tomorrow ? might as well enjoy here and now ...
that's why they splurge on goodies ... and have very little savings ...
Allthepies
14-01-14, 22:09
resale also get 5 years lock-in now?
for those with limited depth of pocket, big sized HDB at a good location is a reasonable choice for ownstay, at least better than those with 4-5 person squeezing in a 2-bedder PC. Just do not know how old that EM is.
If they are a young couple, 500K can buy a nice HDB to stay still have 550K left for investment...but of course if they want to enjoy life first, it is also not wrong...
this thinking can be dangerous if applied wrongly
a lot of youngsters think that way ...
what if I die tomorrow ? might as well enjoy here and now ...
that's why they splurge on goodies ... and have very little savings ...
youngster doesnt have the money for this kind of COV and they certainly wont see the value in living in such old apartment.
At current price, $1.0m can perhaps only get you a 1 or 2 bedder apartment.
rymccondo77
14-01-14, 22:14
the article says its on the 20th floor of block 190. check onemap - its rather close to the mrt.
The Bishan MRT is about 0.5 km away from Block 190 - walkable distance.
The Bishan MRT is about 0.5 km away from Block 190 - walkable distance.
Very convenient indeed. Swimming, stadium, shopping and many other amenities within jalan jalan distance.
Also quite a rare HDB unit so maybe couple so kanchiong quickly offer and grab. Or maybe thanks to the condo launches in Bishan, so small sized and expensive.. lol
proud owner
15-01-14, 15:07
Very convenient indeed. Swimming, stadium, shopping and many other amenities within jalan jalan distance.
Also quite a rare HDB unit so maybe couple so kanchiong quickly offer and grab. Or maybe thanks to the condo launches in Bishan, so small sized and expensive.. lol
I am a bit taken aback by the 250k COV in current mkt condition
I am a bit taken aback by the 250k COV in current mkt condition
the downpayment and cov can easily covered half of a 1mio condo :)
Really rich won't buy HDB lah! :rolleyes:
Young and rich YEAH~
Really rich won't buy HDB lah! :rolleyes:
no so rich will buy CCR because brand and image is more important than substance.
Really? Still, to buy CCR needs significant money, so still have brand, image, and face to display.....................
The worst is CCR can't afford, OCR normal family size also can't afford, can only buy OCR MMs! And pay through the nose for sky high $PSF! (when the OCR family size unit $PSF is so so cheap!) :doh:
Conclusion? Buy the "wrong" thing and the "wrong" price lah! :scared-3:
no so rich will buy CCR because brand and image is more important than substance.
The Bishan MRT is about 0.5 km away from Block 190 - walkable distance.
Actually from Blk 190 to MRT entrance/exit D is only approx. 200m
Really? Still, to buy CCR needs significant money, so still have brand, image, and face to display.....................
The worst is CCR can't afford, OCR normal family size also can't afford, can only buy OCR MMs! And pay through the nose for sky high $PSF! (when the OCR family size unit $PSF is so so cheap!) :doh:
Conclusion? Buy the "wrong" thing and the "wrong" price lah! :scared-3:
All you need is significant debt not cash and you dont really need so much cash if you buy on the wrong side of CCR.
Perhaps for some, the bragging right in social forum is more important than substance in the real world.
rymccondo77
16-01-14, 07:48
Actually from Blk 190 to MRT entrance/exit D is only approx. 200m
According to Property Guru, approximately 0.43 km from Blk 190 to the MRT (did not state to which entrance / exit of the MRT).
Looking at the Street Directory Map, it also measures around 0.43 km.
Allthepies
16-01-14, 07:53
resale also get 5 years lock-in now?
Yes , all BTO + resales subjected to 5 years MOP...
250K COV is small thing, the lost of 5 years of opportunity cost is the big thing......
miss the good old days of 1 year MOP for resale HDB flats.....
Yes , all BTO + resales subjected to 5 years MOP...
250K COV is small thing, the lost of 5 years of opportunity cost is the big thing......
miss the good old days of 1 year MOP for resale HDB flats.....
things change really really fast. I remeber resale had no MOP before but could not be sold in three years time.
BTO must be avoided if can. Although the MOP is 5 years, but it starts from the day one collects keys. Before that, one still needs to wait for 2-3 years for the construction to finish. Therefore, the actual MOP should be 8-9 years.
That was before the World Money printing competition.
https://scontent-a-cdg.xx.fbcdn.net/hphotos-ash3/t1/1231673_10200964835936045_846128508_n.jpg
http://www.rapidtrends.com/images-blog/m3b-nov7-2008.png
http://www.rapidtrends.com/2008/11/08/m3-money-supply-chart-baltic-dry-index-chart/
Velocity of money is declining here. More printed money won't help. More liquidity also kena suck up by ppl paying 50% dp for car and absd and lower LTV
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