A luxurious flat having five-rooms in Bishan has been recently sold for a noteworthy price tag of $1.295 million, smashing all the previous records, including a $1.268 million estimate of the previous month.
The 120 sq m housing unit located at 273A Block of Bishan Street 24 was covered under Design, Build and Sell Scheme project, which is widely recognized as Natura Loft. As per the ERA Realty property agent, it was sold almost 3 weeks right after its inclusion in the sale.
This unit has a well-designed 40-storey block which is recognized as the most pricey resale unit, and the said five-room unit sits right above 35th level.
This recent transaction was recorded against the sudden backdrop reported after consistently rising price tags for these HDB resale flats. On similar tracks, a terraced house, designed around 49 years ago, located at Whampoa HDB, grabbed the media spotlight after changed hands for a record price of $1.268 million. It was high from the previous deals by almost $10,000. However, the recent transaction of $1.268 million shows a huge price gap of $27000 which reflects the robust potential of the HDB real estate resale market.
Mr. Wang, who is working in the real estate industry for the past seven years, revealed that the sellers decided on $1.27 as the bottom line for this property, and they were not ready to consider any other offer below this price. Although they didn’t provide any solid reason for expecting this amount, there were so many expectations associated with this unit. Mr. Wang asked the sellers to wait for some time to get the most reliable buyer as per their demands, and during this time, he hosted a visit for five different groups of buyers. Ultimately, the sellers grabbed this handsome offer in the third week of resale listing.
The basic offer they received for this property was $1.25 million, but it appeared too low to the sellers, and after several efforts to negotiate, the price gradually moved up to reach $1.28 million; however, later, they landed on a large figure of $1.295 million.
The seller of this property is a 50 plus years old Singaporean couple with a single child, and these families are now planning to shift to private property. Other than this, Mr. Wang also revealed that they asked buyers to pay COV amounts between $100,000 to $150,000; however, they paid much less than what was expected. They refused to disclose the final amount.
Mr. Wang stated that the well-maintained interior, central location, unblocked view of the city are the main attractive aspects of the property. The sellers have invested around $100,000 in carrying out renovations with repeated touch-ups for maintenance year after year.
As per the recent reports, the deals for almost 124 HDB real estate resale units have been closed this year for around $1 million, and this shows the highest count of million-dollar units that were sold on an annual basis. Out of these 124 units, 18 were transacted in July month. It is expected that the million-dollar transactions for HDB flats are likely to end with a significant mark this year, and the count may even exceed above 180 units as per recent predictions.
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