Just a couple of days after covering a 3-room HDB record in Kallang and the whole of Singapore, another neighbouring HDB terrace has shattered all previous records. This recent sale has set a new high, surpassing the previous record by a significant margin. This is the second major HDB terrace transaction we've seen in less than a month. The sale..
PHOTO: 99.coJust a couple of days after covering a 3-room HDB record in Kallang and the whole of Singapore, another neighbouring HDB terrace has shattered all previous records. This recent sale has set a new high, surpassing the previous record by a significant margin.This is the second major HDB terrace transaction we've seen in less than a month. The sale occurred within two weeks of the previous record-breaking S$1.33M transaction, which was reported just a day before.
Had the recent SkyOasis sale not occurred, this transaction would have come close to beating the previous national all-time high for all resale HDBs in Singapore, which stood at S$1,588,000. Interestingly, while the overall price of the unit is significantly higher, its S$397 psf is 71.89 per cent lower than the S$682.40 psf of the S$1.33M unit. For comparison, another large HDB terrace sold this year for S$1.28M, spanning 2,239 square feet, with a psf of S$572 - and even that sale is still about 30.61 per cent higher than the current S$1.568M transaction in question.The property, dating back to 1972, has only 47 years left on its lease.
Additionally, the maintenance fees for HDB terraces are relatively low, with conservancy charges around S$55 monthly or S$165 per quarter, significantly lower than the maintenance fees of private properties.Another advantage is the potential for en-bloc redevelopment. HDB terraces are eligible for the Selective En-bloc Redevelopment Scheme , which can lead to significant windfalls for homebuyers if the site is redeveloped.
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