{"id":20898,"date":"2016-07-15T12:01:02","date_gmt":"2016-07-15T05:01:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/experts-urge-calm-amid-record-flat-prices-in-clementi\/"},"modified":"2016-07-26T15:41:23","modified_gmt":"2016-07-26T08:41:23","slug":"experts-urge-calm-amid-record-flat-prices-in-clementi","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/experts-urge-calm-amid-record-flat-prices-in-clementi\/","title":{"rendered":"Experts urge calm amid record flat prices in Clementi"},"content":{"rendered":"


\nView of HDB blocks at Casa Clementi. (Source: Surbana.com)
\nProperty experts have called for calm following instances of sky-high resale HDB prices seen at Casa Clementi, a mega public housing project along Clementi Avenue 1. Last month, a 5-room flat at Block 425 was sold for $960,000, while another 5-roomer at Block 416 recently hit the market for $968,000.
\nClementi flat hits the market for $968,000
\n\u201cThere is no reason to be alarmed because it is uncommon for people to pay such high prices for a HDB resale flat. And with numerous measures such as the Mortgage Servicing Ratio (MSR) cap of 30 percent and Total Debt Servicing Ratio (TDSR), it is even rarer that a buyer can afford to pay such a high amount for a HDB flat,\u201d said Mohamed Ismail, CEO of PropNex Realty.
\nIn fact, sky-high flat prices which have even breached the $1 million mark in other estates such as Bishan and Queenstown are scarce, and do not fully represent the market, experts said.
\nIsmail explained that the high asking prices for flats at Casa Clementi can be attributed to its prime location and large liveable spaces of over 1,200 sq ft.
\n\u201cA major pull factor in that location is the educational institutions,\u201d said Eugene Lim, Key Executive Officer of ERA Realty Network.
\nIn fact, NUS, NUS High School, Nan Hua High School and Singapore Polytechnic are relatively close to the project. As such, parents whose children go to these schools will be attracted to the location.
\n\u201cRentability is also a factor,\u201d Lim said, highlighting that rental demand in the area is quite strong given the significant number of foreign students and staff from nearby schools and universities.
\nThere are also plenty of other amenities within close proximity such as Clementi Mall, City Vibe, 321 Clementi, and Clementi Swimming Complex and Sports Hub, added Lim.
\nAccording to Ismail, some buyers are willing to fork out lots of money for public housing because there are extended families who require a bigger space for a \u201cmore comfortable living environment, and so they have no choice but to purchase a HDB unit with the right size, even if they can buy a similar priced condo with a smaller space\u201d.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Experts urge calm amid record flat prices in Clementi<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of HDB blocks at Casa Clementi. (Source: Surbana.com) Property experts have called for calm...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-20898","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5r4","jetpack-related-posts":[{"id":20914,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-flat-hits-the-market-for-968000\/","url_meta":{"origin":20898,"position":0},"title":"Clementi flat hits the market for $968,000","date":"July 11, 2016","format":false,"excerpt":"\r View of HDB blocks at Casa Clementi. EXCLUSIVE: A 5-room HDB resale flat at Casa Clementi is up for sale at an eye-popping $968,000, nearly a month after PropertyGuru reported that a similar unit at another block within the precinct was sold for a slightly lower price of $960,000.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24001,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-million-dollar-hdb-flats-becoming-the-norm\/","url_meta":{"origin":20898,"position":1},"title":"Are million-dollar HDB flats becoming the norm?","date":"August 26, 2016","format":false,"excerpt":"\r The iconic Pinnacle @ Duxton has led to an uptick in million dollar flats sold per quarter. As we see recurring headlines of sky-high resale HDB transactions, should Singaporeans worry that such prices are becoming mainstream? We take a look in this issue of the Guru View. By Chang\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/08\/GV-104-01.png?fit=530%2C378&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17434,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-room-hdb-flat-shatters-singapore-real-estate-record\/","url_meta":{"origin":20898,"position":2},"title":"5-room HDB flat shatters Singapore real estate record","date":"June 23, 2016","format":false,"excerpt":"\r The deal\u00a0sold for a record SGD960,000 (USD717,400) View of HDB blocks at Casa Clementi According to Housing Board data, a five-room HDB resale flat at Block 425 Clementi Avenue 1 was sold for a record SGD960,000 (USD717,400) this month,\u00a0which translates to about SGD769 (USD575) per sqft. Located next to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22688,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-flat-sold-for-over-1-million\/","url_meta":{"origin":20898,"position":3},"title":"Clementi flat sold for over $1 million","date":"August 12, 2016","format":false,"excerpt":"\r Clementi Towers is the first HDB project to be integrated with a bus interchange and shopping mall. Source: chinaconstruction.com.sg An 18th-storey flat in Clementi Avenue 3 was sold for $1,005,000 on the resale market earlier this month \u2013 a record for a 5-room Housing Board flat outside the iconic\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23996,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-august-2016\/","url_meta":{"origin":20898,"position":4},"title":"News Roundup (August 2016)","date":"August 26, 2016","format":false,"excerpt":"\r A recap of our most read stories for the month of August HDB, DBSS flats sold for over $1m A 5-room HDB resale flat in Clementi Avenue 3 was sold for $1,005,000 in August \u2013 a record price for this flat type outside the Pinnacle @ Duxton project. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-hdb-flats-resold-for-over-1mil\/","url_meta":{"origin":20898,"position":5},"title":"3 HDB flats resold for over $1mil","date":"November 13, 2017","format":false,"excerpt":"\r Despite a steady drop in HDB resale prices, at least three units in Holland Village and Commonwealth have been sold for more than $1 million so far this year, reported the Straits Times. According to PropNex, one of them is a 36th-floor unit at Block 18D in Holland Drive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20898"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=20898"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20898\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=20898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=20898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=20898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}