In a report by The Straits Times on 5th August, HDB resale prices rose for the 13th straight month with more flats changing hands despite the tightened Covid-19 phase 3 heightened alert measures.
Compared to July 2020, resale prices have gone up by 13.2%, which is just 1.2% off the all-time peak recorded in April 2013.
The increase for the resale prices was across both mature and non-mature estates and for all flat types except executive flat, which dropped slightly by 0.6%.
There were also a total of 87 Housing Board flats transacted for at least $1 million in the first five months of the year.
This number is already higher than the 82 units sold for at least that amount in the whole of 2020.
In today’s article, we will look at the 5 most expensive areas for HDB resale flats.
It is little wonder that the 5 most expensive areas are all in “good” locations or located near the city centre, such as Central, Queenstown, Bukit Merah, Kallang and Toa Payoh.
However, there were also resale flats in other areas that sold for record prices.
In Bishan (just next to Toa Payoh), a unit transacted at $1.21 million and another unit in Toh Yi Drive (in Upper Bukit Timah) also transacted at $1.21 million.
Bishan also recorded the second-highest resale flat when a Design, Build and Sell Scheme (DBSS) flat transacted at $1.25 million.
The highest transacted resale flat is located in the Central area, where a 5 room flat in the Pinnacle@Duxton sold for $1.258 million in 2020.
According to industry experts, many buyers are willing to pay a premium for flats that are centrally located, on a high floor that comes with unblocked views.
So if you are eyeing a flat in a certain location and want to know how much the flats there are transacting, you can find out all the information by using the HDB resale website.
On this website, you can search by HDB town, flat type and resale registration date. You can even go deeper into the details such as street name, block number and even the range of the transacted resale prices. You can check for transacted prices within the last 2 years and the data is updated daily, so you will find the latest and most accurate information.
The following table shows the median resale prices by town and flat type for resale cases registered in the 2nd quarter of 2021:
Source
Legend:
(-) indicates no resale transactions in the quarter
Asterisks (" * ") refer to cases where there are less than 20 resale transactions in the quarter for the particular town and flat type. The median prices of these cases are not shown as they may not be representative
The data excluded transactions that may not accurately reflect the market price, i.e. resale of part shares, resale between related parties, cases under the Conversion Scheme, resale of terrace flats, and converted flats
The figures are rounded to the nearest hundred dollars
For a clearer picture of which areas are the most expensive by flat type, here are the top 5 areas.
3 room flats
1. PUNGGOL
$393,000
2. SENGKANG
$372,000
3. CHOA CHU KANG
$360,000
4. QUEENSTOWN
$358,000
5. BUKIT MERAH
$357,000
4 room flats
1. CENTRAL
$941,000
2. QUEENSTOWN
$800,000
3. BUKIT MERAH
$760,000
4. CLEMENTI
$695,000
5. KALLANG/WHAMPOA
$685,000
5 room flats
1. QUEENSTOWN
$932,500
2. BUKIT MERAH
$816,000
3. MARINE PARADE
$796,000
4. KALLANG/WHAMPOA
$780,000
5. TOA PAYOH
$760,400
As you can from the above tables, the property is all about location, location, and location.
Many buyers are willing to pay top dollar for a convenient location, near amenities, coupled with an unlocked view.
For more property news, resources and useful content like this article, check out Mogul.sg blog here.
Comments