Friday, November 13, 2009

HDB 4-room Flat for S$653,000.00

Record $673 per square foot for Queenstown HDB flat

As posted in on 13 Nov 2009 by Francis

An Indonesian Permanent Resident (PR) and a Singaporean woman paid $674 per square foot (psf) or $653,000 in total for a 4rm flat in Queenstown. This breaks the earlier record of $609psf made in January 2008.

Are we surprised? Nope. With the flexible PR policy, lack of immediate supply, skyrocketing mass market condo prices and most importantly location...this was bound to happen sooner or later.

The unit is found along Strathmore Avenue, and if you are wondering why it sounds so familiar...that's because it is shares the same street address as the much anticipated Dawson Build-To-order next month. Even if we exclude the $68,000 cash-over-valuation, we are guessing the previous owners would still have made a killing from the difference of the original don't say we didn't tip you on whats hot! (Editor: Application for TOTO BTO is only $10...)

But before everyone starts asking their agent to sell their flats at $674 psf, here are some prices to put that price into perspective:

So with $653k, you could get a brand new 4rm Sengkang flat plus a brand new Mercedes-Benz E200 Class Saloon and $100k+ to spend on rims the wife.

*Average Price October '09
** URA September '09
via Straits Times