{"id":86150,"date":"2018-04-23T17:00:43","date_gmt":"2018-04-23T10:00:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/queenstown-hdb-flat-sold-for-1-08m-more-record-breaking-deals-expected\/"},"modified":"2018-04-23T17:06:59","modified_gmt":"2018-04-23T10:06:59","slug":"queenstown-hdb-flat-sold-for-1-08m-more-record-breaking-deals-expected","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/queenstown-hdb-flat-sold-for-1-08m-more-record-breaking-deals-expected\/","title":{"rendered":"Queenstown HDB flat sold for $1.08m, more record-breaking deals expected"},"content":{"rendered":"


\nThe 1,615 sq ft high-floor unit is close to Queenstown MRT station and Anchorpoint mall. (Photo: Mohamed Ameen)
\nA 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, which works out to about $669 psf on the built-up area.
\nThe 1,615 sq ft corner unit located on the 13th floor is close to Queenstown MRT station and Anchorpoint mall.
\nMore: Geylang HDB Flat With City Views Sold For $910,000
\nIt is understood that the sellers have been staying there since 1995 and plan to upgrade to a nearby condominium. \u00a0
\nERA Realty property agent Mohamed Ameen helped broker the sale. He revealed that the unit was listed on PropertyGuru with an asking price of $1.1 million for less than two weeks.
\nMore than five groups of buyers viewed the flat during this period before it was sold to a Singaporean woman who was looking to downgrade after her house went en bloc.
\n\u201cThe buyer was willing to pay a premium for the unit due to its large size and proximity to an MRT station,\u201d said Ameen.
\nComparatively, a 5-room flat at the iconic Pinnacle@Duxton in Tanjong Pagar is smaller at 1,141 sq ft.\u00a0
\nAnother major selling point is the limited supply of HDB executive apartments as such flats are no longer being built, noted Ameen.
\nHe expects to see a pick-up in demand for executive apartments and executive mansionettes this year as many owners of en bloc properties will be looking for big replacement homes.
\nCiting data from HDB, Ameen shared that there have been 10 resale flat deals of more than $1 million concluded so far in 2018; seven at Pinnacle@Duxton, two in Mei Ling Street and one at City View @ Boon Keng, a Design, Build and Sell Scheme development.\u00a0
\nThis is higher than the three million-dollar deals recorded in Q1 2017, all at the Pinnacle.
\nAs such, he expects to see more record-breaking prices in future, especially in Queenstown, once the HDB flats in nearby Dawson estate reach their five-year minimum occupation period in 2020.
\n\u201cThe high-floor flats there offer beautiful unblocked views, and we can expect to see transactions breaching the million-dollar mark,\u201d said Ameen.
\nMeanwhile, PropNex Realty CEO Ismail Gafoor reckons HDB resale prices could rise by 1.0 percent in 2018 due to positive sentiment in the residential market and the ongoing collective sales fever.
\nThis reverses a trend of falling resale flat prices since their peak in 2013 following the introduction of measures to stabilise the public housing market, including the Mortgage Servicing Ratio cap of 30 percent and the maximum loan term of 25 years for HDB mortgage loans.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Queenstown HDB flat sold for .08m, more record-breaking deals expected<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 1,615 sq ft high-floor unit is close to Queenstown MRT station and Anchorpoint mall....<\/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-86150","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-mpw","jetpack-related-posts":[{"id":86787,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-news-roundup-apr-2018\/","url_meta":{"origin":86150,"position":0},"title":"PropertyGuru News Roundup (Apr 2018)","date":"April 30, 2018","format":false,"excerpt":"\r Our top Singapore property stories. Amber 45 To Be Launched At Average Price Of Over $2,000 Psf Property developer UOL Group opened the Amber 45 showflat for preview on Saturday (28 Apr). The freehold condominium will comprise one 21-storey block of 139 units. Located at 45 Amber Road in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/04\/Phase-2-sales-launch-of-Park-Place-Residences-resized.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":90768,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/queenstown-hdb-flat-sold-for-1-1m-setting-new-record-for-5-room-flats-outside-pinnacle-duxton\/","url_meta":{"origin":86150,"position":1},"title":"Queenstown HDB flat sold for $1.1m, setting new record for 5-room flats outside Pinnacle @ Duxton","date":"June 7, 2018","format":false,"excerpt":"\r View of Block 18C Holland Drive. 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