5-room Punggol flat sold for $760,000

[krafty]

A premium five-room flat in Punggol fetched $760,000 on the resale market last month, setting a new record for the non-mature estate.

The price was possible as the flat is not only larger than usual, but also has a rare loft design, said the agents behind the deal. "The unit itself is unique," said PropNex agent Godfrey Chan, who marketed the flat with his partner Rosalind Teo.

According to SRX Property's records, it is the biggest sum paid for a Housing Board (HDB) five-room flat in Punggol. Such prices are more usual for popular mature estates such as Queenstown.

The previous Punggol record, set in 2012, was $650,000. But the resale market has cooled since then.

In the past 12 months, five-room units in Punggol have been resold for as little as $355,000 and no more than $544,000, until now.

As a premium flat, the $760,000 unit is larger than usual, at 147 sq m compared to the typical 110 sq m.

- See more at: http://business.asiaone.com/property/news/5-room-punggol-flat-sold-760000#sthash.WFC1gwHT.dpuf

 

[krafty]

punggol is so out of place, more likely the pricing is driven by greed than anything else. i have said that in s'pore, rates and pricing are driven by greed, there is no basis for such pricing. just proven wise words.

 

[frenchbriefs]

i would rather live in a tent before i buy a hdb in singapore.but i may buy a hdb for investment purposes,like subletting to 12 ah tiongs.i would choose an area which is full of tiongs so nobody will notice anything fishy.is punggol full of PRCs?

 

[krafty]

it really make no sense, even property auctions in australia is slowing, except for some spoil market by ah tiongs.

what is so special about s'pore property market!?!!

 

[zhihau]

Mai Tu Liao!!!

Altogether now!!! HUAT AH!!!

 

[po2wq]

... what is so special about s'pore property market!?!!

bcoz sinkielan is world crass! world bestest! world lumpar 1! ...