{"id":22688,"date":"2016-08-12T10:45:42","date_gmt":"2016-08-12T03:45:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-flat-sold-for-over-1-million\/"},"modified":"2016-08-12T12:29:18","modified_gmt":"2016-08-12T05:29:18","slug":"clementi-flat-sold-for-over-1-million","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-flat-sold-for-over-1-million\/","title":{"rendered":"Clementi flat sold for over $1 million"},"content":{"rendered":"


\nClementi Towers is the first HDB project to be integrated with a bus interchange and shopping mall. Source: chinaconstruction.com.sg
\nAn 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 Pinnacle @ Duxton project, reported The Straits Times.
\nResale prices for HDB flats rarely breach the $1 million mark. The exceptions are those found at Pinnacle @ Duxton and rare types like HDB terrace homes or executive maisonettes.
\nSuch prices have also been achieved in Design, Build and Sell Scheme (DBSS) developments \u2013 public housing projects that are developed and sold by private developers and not the HDB.
\nThe Clementi flat, on the other hand, belongs to a unique development: Clementi Towers, which is the first HDB project to be integrated with both a bus interchange and a mall.
\n\u201cThe location is so good, just above Clementi MRT station and the shops in the mall. That is how we managed to get this level of pricing,\u201d revealed LHG Properties agent Rose Har, who represented the seller in the transaction.
\nClementi Towers features two 40-storey HDB blocks of 3- to 5-room units, linked to The Clementi Mall as well as Clementi bus interchange, which is connected to the MRT station.
\nThe two blocks are notable for being replacement flats under the HDB\u2019s Selective En bloc Redevelopment Scheme, and were offered to residents from the former Blocks 436 to 438.
\n\u201cIt is a unique project. In that sense, it is like the Pinnacle \u2013 you cannot compare it to other HDB projects nearby,\u201d said Nicholas Mak, Research Head at SLP International Property Consultants.
\nChris Koh, Director of property firm Chris International, noted that the 116 sq m unit may have been renovated well, which allowed it to fetch a premium.
\n\u201cI don\u2019t think you will see $1 million flats in other estates,\u201d he added.
\nMeanwhile, the HDB expects to complete another integrated development, Kampung Admiralty, in 2017.
\nSituated next to the Admiralty MRT station, the development features public housing, childcare and eldercare facilities, a medical centre as well as eateries and shops. However, the flats in the project are all studio apartments, intended for buyers who are at least 55-years-old.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Clementi flat sold for over million<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Clementi Towers is the first HDB project to be integrated with a bus interchange and...<\/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-22688","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\/p75ss1-5TW","jetpack-related-posts":[{"id":71623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-hdb-flats-resold-for-over-1mil\/","url_meta":{"origin":22688,"position":0},"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":[]},{"id":24001,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-million-dollar-hdb-flats-becoming-the-norm\/","url_meta":{"origin":22688,"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":23996,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-august-2016\/","url_meta":{"origin":22688,"position":2},"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":20898,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/experts-urge-calm-amid-record-flat-prices-in-clementi\/","url_meta":{"origin":22688,"position":3},"title":"Experts urge calm amid record flat prices in Clementi","date":"July 15, 2016","format":false,"excerpt":"\r View of HDB blocks at Casa Clementi. (Source: Surbana.com) Property 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17434,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-room-hdb-flat-shatters-singapore-real-estate-record\/","url_meta":{"origin":22688,"position":4},"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":20914,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-flat-hits-the-market-for-968000\/","url_meta":{"origin":22688,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22688"}],"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=22688"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22688\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=22688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=22688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=22688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}