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A four-room HDB flat in Tiong Bahru has been sold for S$1.158 million.

This works out to S$1,237 per square foot for the 936 sqft unit on the 29th floor at 10B Boon Tiong Road.

The sale was lodged in June 2022, Edgeprop reported.

The unit was reportedly valued at S$1 million by HDB.

The buyer paid a cash-over-valuation (COV) of S$158,000.

The COV is a cash amount that represents the difference between the sale price of the flat and its HDB valuation.

Background

Block 10B is part of four blocks of the HDB development, Tiong Bahru View, which has 700 units, featuring a mix of three- to five-room flats and studios.

The flats are beside Tiong Bahru Plaza shopping mall and Tiong Bahru MRT station on the East-West Line.

Tiong Bahru View is a replacement housing development for Blocks 110, 111, 113, and 114 Bukit Merah View under the Selective Enbloc Redevelopment Scheme.

The north-facing unit was listed for S$1.2 million when it was first put up for sale in September 2021.

There were serious buyers who put in enquiries but the seller waited for a more attractive offer as the HDB resale market was going up in December 2021.

The flat was renovated by the seller for about S$200,000.

At least 30 flats in Tiong Bahru View have transacted for a million dollars or more since the first few units reached their minimum occupation period (MOP) in the fourth quarter of 2018, according to HDB resale caveats compiled by EdgeProp Singapore.

Top photo via Google Maps