Serious HDB Terrace House At Queenstown With 47 Years Lease Left Selling For $980k! Who Says 99-Year HDB Prices Will Decline After 20 Years?

[JohnTan]

Ever seen photos of a home online and feel like moving in on the spot?

Instead of regular snapshots, a property agent has uploaded magazine-worthy photos of a terrace house recently listed for sale.

From the photos, it's probably hard to tell that this is a public housing residence.

The four-room HDB unit at Block 50, Stirling Road is on the market for $980,000 (furnishings excluded).

At 111 sqm, the two-storey house has three bedrooms, two bathrooms, extensions on the front and back porches, and a car park right behind the backyard.

The flat is also a few minutes' walk away from Queenstown MRT station and close to amenities such as Queenstown swimming complex and sports complex.

Although the terrace flats in the block only have 47 years of lease left — with prices ranging between $880,000 and $980,000 — they're considered to be more affordable than their private counterparts.

Rare 'landed' public housing property in mature estate
It may have been built in 1959, but this terrace flat is all modern on the inside, sporting an eclectic design that the seller splashed $200,000 on renovations back in 2018.

Even with a price tag that's nearing $1 million, the house is located in Queenstown, one of Singapore's most popular mature estates.

The terrace flats, along with a few surrounding blocks, are among the first homes built by the Singapore Improvement Trust.

They were designed to give Queenstown’s skyline some variety as well as a more "kampung" feel, the National Heritage Board explained.

A civic group approached the Urban Development Authority (URA) last year, seeking conservation status for these blocks.

After all, there are only 285 HDB terrace properties in Singapore.

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https://www.asiaone.com/money/magazine-worthy-hdb-terrace-flat-queenstown-market-nearly-1-million

 

[Balls2U]

But which idiot will pay that kind of price for it?

 

[zhihau]

But which idiot will pay that kind of price for it?

DINKs? Plenty of folks willing to splurge as they don’t have kids anyway.

 

[myfoot123]

But which idiot will pay that kind of price for it?

May get enbloc. You never know. Queenstown hot zone.

 

[JohnTan]

But which idiot will pay that kind of price for it?

People are not idiots just because they think differently from you. Oppies are forever saying that the singapore property market is artificially inflated, or that HDB flats are grossly overpriced. So this article shows you that there is huge value in HDB leasehold properties, even when there is less than 50 years left on the lease.

 

[bobby]

He paid cash ?

 

[eatshitndie]

has great privacy as a chicken coop. after ccp virus is defeated, can reach payback in 6.9 years with higher end chickens.

 

[Balls2U]

He paid cash ?

It's not sold yet.

 

[Balls2U]

People are not idiots just because they think differently from you. Oppies are forever saying that the singapore property market is artificially inflated, or that HDB flats are grossly overpriced. So this article shows you that there is huge value in HDB leasehold properties, even when there is less than 50 years left on the lease.

Why buy a leasehold property with less than 50 years left and subject to HDB shitty rules, when you can buy a freehold one or a condo by paying a bit more?

 

[bobby]

It's not sold yet.

No CPF can be used if the remaining lease of a property is less than 30 years....so that means how ah ?

 

[shittypore]

Just a Gimmick to fool Sinkies on the value of Govt Pigeon Holes.

 

[whoami]

But which idiot will pay that kind of price for it?

Is he an idiot too? 1.1million and u need to climb up.

https://www.straitstimes.com/singap...oom-flat-with-51-year-lease-left-sold-for-11m

 

[Balls2U]

Is he an idiot too? 1.1million and u need to climb up.

https://www.straitstimes.com/singap...oom-flat-with-51-year-lease-left-sold-for-11m

View attachment 89656

At least this idiot gets to work out everyday. Good for health.

 

[whoami]

At least this idiot gets to work out everyday. Good for health.

Wait till hes told to go for knee replacement.

 

[kkbutterfly]

every now and lately i will see this fake news of xxx hdb selling for a million..

 

[mahjongking]

Is he an idiot too? 1.1million and u need to climb up.

https://www.straitstimes.com/singap...oom-flat-with-51-year-lease-left-sold-for-11m

View attachment 89656

from outside nice and peaceful,
go inside n inspect
you will realised, old buildings usually windows v small and place not much natural sunlight
sewage pipes more than 50 years old, the smell will rise up everytime you flush the toilet bowl, how to replace sewage pipes embedded in the concrete?

if have 1 million to spare, should buy a new hdb apartment and buy a nice car, lots of change leftover
and most importantly, the clocking is ticking

 

[A Singaporean]

Can't take the punishment don't do the crime.

 

[Balls2U]

If you have lots of cash, stay in a nicely furnished 4 room HDB flat, and buy a shophouse as an investment.

 

[whoami]

from outside nice and peaceful,
go inside n inspect
you will realised, old buildings usually windows v small and place not much natural sunlight
sewage pipes more than 50 years old, the smell will rise up everytime you flush the toilet bowl, how to replace sewage pipes embedded in the concrete?

if have 1 million to spare, should buy a new hdb apartment and buy a nice car, lots of change leftover
and most importantly, the clocking is ticking

Despite all the cons buyer still went ahead with it. He must have very strong reasons to purchase such old flat. Indeed a unique buyer.

 

[Devil Within]

View attachment 89646

Ever seen photos of a home online and feel like moving in on the spot?

Instead of regular snapshots, a property agent has uploaded magazine-worthy photos of a terrace house recently listed for sale.

From the photos, it's probably hard to tell that this is a public housing residence.

The four-room HDB unit at Block 50, Stirling Road is on the market for $980,000 (furnishings excluded).

At 111 sqm, the two-storey house has three bedrooms, two bathrooms, extensions on the front and back porches, and a car park right behind the backyard.

The flat is also a few minutes' walk away from Queenstown MRT station and close to amenities such as Queenstown swimming complex and sports complex.

Although the terrace flats in the block only have 47 years of lease left — with prices ranging between $880,000 and $980,000 — they're considered to be more affordable than their private counterparts.

Rare 'landed' public housing property in mature estate
It may have been built in 1959, but this terrace flat is all modern on the inside, sporting an eclectic design that the seller splashed $200,000 on renovations back in 2018.

Even with a price tag that's nearing $1 million, the house is located in Queenstown, one of Singapore's most popular mature estates.

View attachment 89649

The terrace flats, along with a few surrounding blocks, are among the first homes built by the Singapore Improvement Trust.

They were designed to give Queenstown’s skyline some variety as well as a more "kampung" feel, the National Heritage Board explained.

A civic group approached the Urban Development Authority (URA) last year, seeking conservation status for these blocks.

After all, there are only 285 HDB terrace properties in Singapore.

[email protected]

https://www.asiaone.com/money/magazine-worthy-hdb-terrace-flat-queenstown-market-nearly-1-million

There are fools born every minute. So it is not a surprise that we have fools and their money soon parted.