Resale HDB flat in Boon Keng sold for S$1.185 million

More million dollar houses.

Nyi Nyi Thet| March 11, 03:10 PM

A 5-room Design, Build and Sell Scheme (DBSS) flat in Boon Keng was sold for S$1.185 million at the start of 2019.

The flat is located at City View.

According to Zaobao, S$1.185 million is the highest ever commanded by a resale DBSS flat in Singapore.

This isn't the first pricey Boon Keng flat from City View as well.

One of the units, a five room flat as well, fetched quite a pretty penny in March 2016, just two weeks after being available on the market.

The flat went for S$1.028 million.

According to the property agent who sold the unit, more than 10 people viewed the flat. Among them, another potential buyer offered S$1 million as well.

Despite these eye-popping numbers, the HDB resale price index has been on a declining trend since 2013.

Over 40 million-dollar HDB resale flats in 2017

There have been a number of resale flats that exceeded the million-dollar mark recently.

In 2017, over 40 Housing Development Board (HDB) flats hit the million-dollar mark.

These included a five room flat at the [email protected] (S$1.14 million), and a five room HDB resale flat at Bishan's Natura Loft (S$1.18 million).

The total number of resale flats in 2018 was the highest ever in six years at 23,099.

A Singapore Business Review article mentioned that million-dollar hitters in 2018 included a five room DBSS unit in Toa Payoh (S$1.16 million) and a HDB Terrace in Jalan Bahagia (S$1.185 million) which was priced similar to the City View flat.

The same article highlighted that in Q3 2018, more resale deals were recorded in non mature estates such as Sengkang (528 units) and Punggol (469 units).

A possible reason given was that more flats in these non-mature estates reached the Minimum Occupancy Period allowing its occupiers to sell them.

Image from Google Maps.