5-room HDB loft unit in Punggol sells for $970,000

5-room HDB loft unit in Punggol sells for $970,000

9/12/2021 4:11:00 PM

5-room HDB loft unit in Punggol sells for $970,000

A five-room Housing Board loft unit in Treelodge @ Punggol changed hands for $970,000 last month, the sixth flat in Punggol that has fetched more than $900,000 since...

However, while million-dollar HDB resale deals now regularly make headlines, these flats are in mature estates, and analysts say it may take some time before a similar transaction surfaces in a non-mature estate.High floor, good views, location and the unit's renovations are some factors that typically characterise a million-dollar HDB resale flat, said ERA Realty head of research and consultancy Nicholas Mak.

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"There is also the question of whether there is a buyer who is willing to pay $1 million. If you do have that money to spend, there are plenty of locations to choose from, so outlying non-mature areas like Punggol may not be the first choice," he said.

"Eventually, in many years to come, there will be $1 million flats in all parts of Singapore, simply because of inflation. But in the shorter term, at least for the next one year, I don't think we'll see any million-dollar flats in outlying areas," added Mr Mak. headtopics.com

Read more: The New Paper »

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