Holland Drive five-room HDB flat sold for S$1.1 million
The unit was transacted at 16% above the price of a similar unit on the 37th floor at the same HDB block
A FIVE-room Housing Board flat at Holland Drive has been sold in June for S$1.1 million, setting a new record for the area.
The 38th-floor resale unit at Block 18C Holland Drive has a floor area of 1,259 sq ft, which works out to about S$874 per sq ft (psf).
Built under the Selected En Bloc Redevelopment scheme, the unit has a remaining lease of 93 years and has an unblocked view.
It was transacted at 16 per cent above the price of a similar unit on the 37th floor at the same HDB block, which was sold at S$945,000, or S$751 psf, in November last year.
ERA Realty's Joyyce Goh, the seller's agent, said: "Holland is a prime area for both private and public housing. This unit is located between Buona Vista and Holland Village MRT stations.
"Any high price for a resale flat will likely come from the Commonwealth and Holland areas because of their proximity to Orchard Road and the city."
The Straits Times understands that the buyer is a Singaporean family that had previously lived in a private property and is looking to downgrade.
"They wanted to buy in Districts 9 and 10, which are premium areas next to Holland Village. You can't find anything of this size with this unblocked view, and it was a renovated unit," said PropNex agent Stanley Ho.
The seller of the HDB flat has plans to upgrade to private property, ST understands.
Just three months ago, an executive apartment at Block 148 Mei Ling Street sold for a record S$1.08 million.
Close to Queenstown MRT station and Anchorpoint Shopping Centre, the 1,615 sq ft unit, which is situated on a higher floor, has a balance lease of about 76 years and sold for about S$669 psf on the built-up area.
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