The Singapore property market has been rife with conversations about the $1.295 million resale flat in Bishan. This record-breaker was a Design, Build, and Sell Scheme (DBSS) flat, and it’s the most expensive HDB transaction to date (yes, even more expensive than the HDB terrace house which broke the news, at $1.268 million). While rising resale prices are always a.
5-room HDB DBSS flat in Bishan sold for record $1 295 million asiaone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asiaone.com Daily Mail and Mail on Sunday newspapers.
Completion date: 2011
Notable highlights:
The Pinnacle@Duxton is probably the most prestigious HDB development ever built. A check on HDB transaction records shows 48 transactions that crossed the $1 million mark over the past year (21 were 4-room flats, 27 were 5-room flats).
Pinnacle is the tallest HDB development to date, at 52-storeys; members of the public even pay admission to visit its sky gardens and take in the view.
Besides having one of the best unimpeded views, Pinnacle is also one of the best-located HDB developments to date. It’s only 440 metres, or a seven-minute walk, to Outram Park MRT. This provides access to three different train lines: The East-West Line, North-East Line, and Thomson – East Coast Line.
By now it’s no secret that HDB flats have shrunk over the years. In fact, the size difference between a 4-room unit built in the 1980’s (average of 1,130 sq. ft.) is not far off from a 5-room unit today (average of 1,184 sq. ft.). For Singaporeans with bigger families, it’s a common point of frustration; but not many alternatives.
Experts said the return to phase two Covid-19 curbs will help underpin demand.
Resale prices climbed 1.2 per cent last month compared with March, according to flash data from real estate portal SRX released on Thursday (May 6).
The 21 million-dollar flats sold last month were an increase from March, when 17 such flats were sold. The monthly record so far is 23 million-dollar flats sold in February.
The number of million-dollar flats sold in April accounts for 0.9 per cent of the total resale volume in the month, said SRX.
This brings the total of HDB flats that have sold for more than $1 million to 74 units in the first four months of this year, compared with 14 such units sold during the same period last year.