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\nFive-Room HDB Flat at Henderson Road Transacted for Record $1.4mil, New Private Home Sales Flat in April Amid Lack of New Launches and More17th\u00a0May to 23rd\u00a0May 2022
\nA 1,216 sq ft five-room flat in Henderson Road emerged as the most expensive resale flat to date after it was sold for a record price of $1.4 million this month. Meanwhile, sales of new private homes, excluding executive condominiums (ECs), held flat in April, amid the lack of new project launches.
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\n1) Five-room HDB flat at Henderson Road transacted for record $1.4mil
\nThe 5-room flat at City Vue @ Henderson now holds the title of \u201cMost Expensive HDB flat ever sold\u201d. Source: Google Maps
\nA 1,216 sq ft five-room flat in Henderson Road emerged as the most expensive resale flat to date, after it was sold for a record price of $1.4 million this month, reported The Business Times.
\nLocated in Block 96A, the unit sits at the 41st level of the 48-storey block, providing it panoramic views of the area. The flat is relatively new as its lease only commenced in 2019.
\n\u201cWith construction delays due to COVID, this almost-new flat offers the opportunity for buyers to move in fast. It is also rare to have new five-room flats in mature estates,\u201d said Huttons\u2019 Senior Director of Research Lee Sze Teck.
\nAmenities within the area include a swimming pool, hawker centre, market and shopping mall. Meanwhile, Tiong Bahru MRT station is just a five-minute walk away while Alexandra Primary School is also nearby.
\nHowever, this record price may be surpassed in the coming months as another five-room flat located in the same block is listed at $1.5 million, said Lee.
\n\u00a0Related article:\u00a0Singapore HDB Resale Flat Price Guide: How Much Should You Pay in Q2 2022
\nIn Q1 2022, 82 million-dollar HDB flats were transacted.\u00a0According to the PropertyGuru\u00a0Singapore Property Market Report Q2 2022,\u00a0asking prices for HDB resale flat prices have continued to increase in Q1 2022, reaching a record-high. However, the price growths are likely to be muted in the coming quarter, and\/or hover at this peak until the BTO supply is restored.
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\n2) New private home sales flat in April amid lack of new launches
\nSales of new private homes, excluding ECs, held flat in April, with developers selling 653 units compared to 654 units in March, amid the lack of new project launches, showed Urban Redevelopment Authority (URA) data.
\nChristine Sun, Senior Vice President of Research and Analytics at OrangeTee & Tie, said new home sales \u201cseem to have stabilised\u201d following the introduction of cooling measures in December last year.
\nIncluding ECs, new home sales rose 19.5% to 839 units in April from the 702 units shifted in March.
\nOn an annual basis, new home sales, excluding ECs, declined 48.6% last month.
\nShe noted that the Rest of Central Region (RCR) accounted for most of the sales at 44.3% or 289 units. The Core Central Region (CCR) came in second at 31.5% or 206 units, while the Outside Central Region accounted for 24.2% or 158 units.
\n\u201cThis is the first time in 12 months that sales in the CCR is higher than the OCR,\u201d said Lee Sze Teck, Senior Director of Research at Huttons Asia.
\nFurthermore, the number of new sales to foreigners has increased,\u00a0from 25 units in March to 59 units in April.
\nAs Singapore eases Safety Management Measures and reopens her borders, expatriates have also begun returning to the city. Aside from driving up rental demand, especially in the non-landed private property rental market, they are also taking up private home units. However, foreigners buying any property in Singapore are subject to a 30% Additional Buyer\u2019s Stamp Duty (ABSD), which serves as a deterrent for those who wish to speculate on local property.
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\n3) URA releases three residential sites in Lentor for sale
\nThe Lentor Central, Lentor Hills Road (Parcel B), and Lentor Gardens sites are located near the Lentor MRT station on the Thomson-East Coast line. Source: URA Space
\nThree residential sites within the Lentor area have been released for sale by the Urban Redevelopment Authority, with the sites expected to yield a total of 1,265 residential units.
\nNotably, two of the sites are launched for tender under the Confirmed List while the other one is available for application under the Reserve List of the Government Land Sales (GLS) programme for the first half of 2022.
\nThe Confirmed List sites at Lentor Central and Lentor Hills Road (Parcel B) span 13,444.3 sq m and 10,819 sq m, respectively. The Reserved List site at Lentor Gardens, on the other hand, measures 21,866.7 sq m.
\nHuttons Asia\u2019s Senior Director of Research Lee Sze Teck expects the Confirmed List sites to receive lukewarm interest \u2013 with three to five bidders and a top bid of between $1,000 and $1,050 per sq ft per plot ratio (psf ppr).
\nAll three sites\u00a0are located in the Lentor Hills estate and are\u00a0served by\u00a0the newly-built Lentor MRT station on the Thomson-East Coast Line (TEL). There are numerous eateries spotted around the area, with great amenities within the neighbourhood such as a\u00a0supermarket and childcare facilities.\u00a0As\u00a0a future sustainable neighbourhood, residents will be\u00a0able\u00a0to\u00a0enjoy the lush greenery\u00a0at the\u00a0upcoming linear parks.
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\n4) Liv @ MB condo sells over 75% of units<\/p>\n