HDB flat in Yishun first to sell for more than S$1 million, but analysts say such sales there won’t be common

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SINGAPORE — A Housing and Development Board (HDB) executive flat in Yishun fetched more than S$1 million when it was sold last month on the resale market, the first time it has happened in the HDB town and the second ever for a non-mature estate.

The block is near amenities such as Khoo Teck Puat Hospital, Safra Yishun recreation club and Yishun Park.Data from HDB showed that the flat is located somewhere between the fourth and sixth floor of the block.

Ms Melly Leong Xia Mei, a 43-year-old resident of the block and an employee at a fast-food restaurant, said she was surprised that buyers were willing to pay such a high price given that flats there are “quite old”. Other residents said that amenities around the area such as schools, hospital and parks could be other draws for buyers.

“For this, I was confident we could get a high price. We just needed to wait for the right buyer to come along,” Ms Tan, who is with real estate agency PropNex Realty, said.

Source: News Formal (newsformal.com)

 

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