_Knight Frank S$1.5 million sale of HDB Jumbo flat in Tiong Bahru Estate
Singapore, 23 June 2023 - KF Property Network has set another new resale transaction record in Singapore with the sale of a HDB Jumbo flat at 50 Moh Guan Terrace for S$1.5 million. In June 2022, the record of S$1.418 million was also set by KF Property Network for a 5-room loft at SkyTerrace@Dawson.
Mr Alvin Yeo (姚伟明), Associate Deputy Division Director, KF Property Network (房产中介 副团长) and Mr Evan Chung (钟恩汶), Head, KF Property Network (主管, KF产业网络) brokered the respective transactions.
Chung said, “We were elated to represent the sellers of these transactions as the record prices have ventured into an uncharted territory. Flats that command a premium generally feature unique characteristics or have sought-after addresses.”
“In this instance, the sold Jumbo flat sits in the quaint Tiong Bahru Estate surrounded by lush greenery. Its proximity to artisanal cafes, bakery and old local coffeeshops had also increased its appeal to buyers. On the other hand, the sold apartment at SkyTerrace@Dawson was the first-of-its-kind HDB Premium Loft apartment with a double volume ceiling of more than 5 metres. It had featured full designer renovation with marble floors and a custom-made art light installation in the loft space.”
Since the end of circuit breaker in June 2020, there has been an increase in buyer interest for bigger homes. COVID-19 pandemic has altered the way people utilise their home space and contributed to the increased market demand and inadvertently, prices for larger-sized units.
Chung added, “Notwithstanding headlines of million-dollar HDB apartments being sold, it is reassuring to know that most flats remain within reach. Policies like the HDB Build-to-Order (BTO) scheme, CPF family grants and various other measures by the Housing Development Board have been helpful in enabling Singaporeans to acquire affordable housing to start a family.”
50 Moh Guan Terrace transaction
- Brokered by: Mr Alvin Yeo, Associate Deputy Division Director, KF Property Network
- Date: May 2023
- Sale Price: S$1.5 million
- Unit details: Level 4 Walk-up apartment
- Flat Type: 4-room Jumbo flat
- Strata area: 176 sqm
- Tenure: 99-years leasehold, starting 1973
Click here to view the interactive map
SkyTerrace@Dawson transaction
- Brokered by: Mr Evan Chung, Head of KF Property Network
- Date: June 2022
- Sale Price: S$1.418 million
- Unit details: Level 37-39
- Flat Type: 5-room loft
- Strata area: 122 sqm (includes strata void of 17 sqm)
- Tenure: 99-years leasehold, starting 2015
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