{"id":83305,"date":"2018-03-21T18:58:47","date_gmt":"2018-03-21T11:58:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-hdb-flat-with-city-views-sold-for-910000\/"},"modified":"2018-03-21T19:03:22","modified_gmt":"2018-03-21T12:03:22","slug":"geylang-hdb-flat-with-city-views-sold-for-910000","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-hdb-flat-with-city-views-sold-for-910000\/","title":{"rendered":"Geylang HDB flat with city views sold for $910,000"},"content":{"rendered":"


\nThe high floor unit at Pine Close offers unblocked views of the Singapore Sports Hub and city skyline. (Photo: Dulcie Liu)
\nA 5-room HDB resale flat on a high floor in Geylang with sweeping views of the Singapore Sports Hub and city skyline has just been sold for a sky-high price of $910,000.
\nThe sale price for the 1,216 sq ft corner unit works out to about $748 psf on the floor area.
\nMore: 3 HDB flats resold for over $1mil
\nLocated on the 16th floor of Block 3 Pine Close, the 18-year-old flat is close to Mountbatten MRT station, famous eateries, supermarkets and Kallang Wave Mall.
\nThe unit was listed on PropertyGuru with an asking price of $920,000. It was snapped up after two days by a Singaporean couple who recently sold their property in an en bloc sale, said ERA Realty property agent Dulcie Liu, who brokered the deal.
\nAccording to Liu, the couple was willing to pay a premium for the flat due to its ideal location. \u201cSuch well-located flats will never waver in demand and price,\u201d she said.
\nThe area doesn\u2019t usually see such high-priced sales, with over half of the 5-room flats transacted in Pine Close going for below the $850,000 mark since the start of 2014, according to HDB data.
\nHowever, a smaller 1,184 sq ft flat on the same floor changed hands for $910,000 in January this year, which may have encouraged the sellers in the most recent sale to raise their price. \u00a0
\nStill, analysts are of the view that such high prices are not the norm for public housing. In fact, HDB resale flat prices have been declining in the past five years, with a 1.5 percent drop in 2017.
\nDespite this, Liu noted that buyer enquiries have picked up and sellers can look to make a profit, especially with the recent spike in en bloc sales.
\n\u201cMany en bloc sellers are now looking to use their sales proceeds to retire in mature HDB estates,\u201d she said. \u00a0
\nIsmail Gafoor, CEO of PropNex Realty, agrees. \u201cThe en bloc boom in 2017, alongside the positive sentiment in the residential market, is set to increase the demand for HDB resale properties as some of the displaced homeowners might consider purchasing resale flats as their new home,\u201d he said.
\nAs such, he expects HDB resale prices to register growth of 1.0 to 2.0 percent in 2018.
\nCheck out more HDB flats for sale in Geylang!
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Geylang HDB flat with city views sold for 0,000<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The high floor unit at Pine Close offers unblocked views of the Singapore Sports Hub...<\/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-83305","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-lFD","jetpack-related-posts":[{"id":84129,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-march-2018\/","url_meta":{"origin":83305,"position":0},"title":"News Roundup (March 2018)","date":"March 29, 2018","format":false,"excerpt":"\r Our top Singapore property stories. Geylang HDB flat with city views sold for $910,000 A 5-room HDB resale flat on a high floor in Geylang with sweeping views of the Singapore Sports Hub and city skyline was sold in January for a sky-high price of $910,000. The sale price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/03\/The-Berth-resized.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":86150,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/queenstown-hdb-flat-sold-for-1-08m-more-record-breaking-deals-expected\/","url_meta":{"origin":83305,"position":1},"title":"Queenstown HDB flat sold for $1.08m, more record-breaking deals expected","date":"April 23, 2018","format":false,"excerpt":"\r The 1,615 sq ft high-floor unit is close to Queenstown MRT station and Anchorpoint mall. (Photo: Mohamed Ameen) A HDB resale executive apartment at Block 148 Mei Ling Street in Queenstown, which has a balance lease of about 76 years, was sold this month for an eye-popping $1.08 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21660,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/toa-payoh-flat-sold-for-980000\/","url_meta":{"origin":83305,"position":2},"title":"Toa Payoh flat sold for $980,000","date":"August 2, 2016","format":false,"excerpt":"\r View of public housing blocks in Toa Payoh. A 23-year-old executive flat in Toa Payoh was sold for a whopping $980,000 in June this year, reported AsiaOne. Based on figures on the HDB website, the price is comparable to those sold at the iconic Pinnacle @ Duxton. Located between\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":142782,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/about-6830-hdb-bto-june-2024-flats-to-launch-landlord-slammed-for-morgue-like-listing-and-more\/","url_meta":{"origin":83305,"position":3},"title":"About 6,830 HDB BTO June 2024 Flats to Launch, Landlord Slammed for "Morgue-like" Listing, and More","date":"February 26, 2024","format":false,"excerpt":"\r About 6,830 HDB BTO June 2024 Flats to Launch, Landlord Slammed for \"Morgue-like\" Listing, and More20 to 26 February 2024 HDB will launch around 6,830 June 2024 BTO flats. 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The\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":83305,"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. 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