HUDC unit sale breaks record

[YellowRibbon]

By Romesh Navaratnarajah:A spacious maisonette at Shunfu Road has broken the record for the most expensive HUDC unit. The house was sold to a young Singaporean couple for S$1.33 million beating the previous record of S$1.28 million set in September for a similar unit in the area, reported The Straits Times.

Located at Block 316 (pictured), the mid-level unit achieved a psf price of S$800, notably lower than that of condominium units in the vicinity, and offers views of the green lawn in front of the building.

Sited in the centre of the estate insulating it from traffic noise, the block is also within close proximity to various amenities including eateries, a market, good schools and Marymount MRT station.

The seller is reportedly an engineer who purchased the flat 16 years ago. Back then, such homes went for less than S$400,000.

According to Tejaswi Chunduri, Regional Analyst at PropertyGuru, this means that the unit has recorded a price appreciation of more than 200 percent. She added: "Some buyers are willing to pay any price for spacious and strategically located housing units."

HUDC units were launched in the 1970s to cater to middle-income households. But they were phased out 10 years later due to a drop in demand. Of the 18 HUDC projects, 12 have been privatised while the remainder are pending privatisation.

The privatisation of the Shunfu estate is already underway. A guardhouse and car park entrance barrier are being built, and the estate is being fenced up. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email [email protected] Related Stories:Home prices fall for five quarters claim is trueS'pore real estate outlook encouraging

Overseas property still popular in 2013: report

 

[YellowRibbon]

Think when i turn 35 in 2014, must quickly go buy a house.... if this goes on i will never have another roof over my head.

 

[tonychat]

Think when i turn 35 in 2014, must quickly go buy a house.... if this goes on i will never have another roof over my head.

go to malaysia and buy, you will have a freehold unit or a house there. screw sinkieland, there is not a need to get a home in sinkieland, malaysia is good enough.

 

[YellowRibbon]

go to malaysia and buy, you will have a freehold unit or a house there. screw sinkieland, there is not a need to get a home in sinkieland, malaysia is good enough.

I like to ask something.... If a singaporean go in to JB, how long can he stay there ? Then if he lets say come back SG for one day then next day go JB again for many days can ? How about a Singapore registered vehicle ?

 

[hairylee]

Either the market is siao or sinkies are siao.

 

[laksaboy]

One day it will all come crashing down. And then what?

 

[garlic]

I like to ask something.... If a singaporean go in to JB, how long can he stay there ? Then if he lets say come back SG for one day then next day go JB again for many days can ? How about a Singapore registered vehicle ?

max consecutive stay 30 days, come back chop passport, can stay another 30 days. This practice long time liao and jb customs close one eye on sinkies... thais or indons different story.

 

[GOD IS MY DOG]

One day it will all come crashing down. And then what?

precisely.........i expect prices to crash by minimum 70%..........prices crashed by 50% in the late 90's and the current bubble is far far bigger than back then.........once deep recession comes, and foreigners start leaving and locals start having problems servicing existing home loans.............things going to get really bad really fast.........


these type of HDUC, EC will die damn jialat jialat..........followed by ''normal'' private condos............


only safe havens will be 3-4rm flats............you can't get any lower than that !

 

[Devil Within]

go to malaysia and buy, you will have a freehold unit or a house there. screw sinkieland, there is not a need to get a home in sinkieland, malaysia is good enough.

Hey, retarded Tony-lanjiaoless-chat, you are the only sinkied fuckers here. Trying to infract me 6 times cos I speak the truth about you? Keep dreaming lah. You haven't thank me for doing the fucking for you, you faggot!

 

[The_Hypocrite]

The problem is when?? I have been hearing that for years,,and year on year the record keeps getting broken,,,

precisely.........i expect prices to crash by minimum 70%..........prices crashed by 50% in the late 90's and the current bubble is far far bigger than back then.........once deep recession comes, and foreigners start leaving and locals start having problems servicing existing home loans.............things going to get really bad really fast.........


these type of HDUC, EC will die damn jialat jialat..........followed by ''normal'' private condos............


only safe havens will be 3-4rm flats............you can't get any lower than that !

 

[GOD IS MY DOG]

The problem is when?? I have been hearing that for years,,and year on year the record keeps getting broken,,,

if you really need to get a home then get 4-rm lor...........safer..........

we're not talking about a market correction here............but a crash...........if you're ok with a 50% drop in value of a house that you're still going to pay for then ok lah.............banks will increase monthly payments when home prices go down.............