By now, we’re all aware of the rite of passage in Singapore. Study hard, get a job, buy HDB, settle down. Balloting for a Built-to-Order (BTO) flat is one way to get to the end goal, but who has time to wait four years for the flat to be ready?
Well, here’s news for you. Prices of resale flats are going up, and Tampines has just joined the million dollar club with its first S$1 million HDB unit.
So unless you have a million dollars lying around for a resale flat, suck thumb and wait for your BTO lah.
The Million-Dollar Flat
The record S$1.013 million sale was for an executive maisonette situated on the 10th storey of Block 856D, Tampines Street 82. At 1,657 sq ft, the flat boasts a p.s.f price of S$611.
Built in 1995, this flat managed to make history in Tampines as a 27-year-old. Even a flat can be a higher achiever than us (sorry, ma).
Our new poster child of Tampines is located within a 1km radius of Tampines MRT Station, St Hilda’s Primary and Secondary School, Our Tampines Hub and Tampines Mall.
Together with Tampines Mall comes of course, the other two malls in Tampines’ Holy Trinity of malls. Tampines 1 and Century Square, being walking distance from Tampines Mall, are nearby the flat as well.
Prior to the million-dollar Tampines flat’s rapid rise to fame, some other HDB flats in Tampines were practically on the doorstep of the million dollar club as well.
In the month of August 2022 alone, six other HDB flats in Tampines transacted for at least S$900,000. Beyond Tampines, six other HDB estates also recorded their first million-dollar flats in 2022.
BTO Town Punggol Has Also Just Joined the Million Dollar Club
If you think that only old estates like Tampines can join the million dollar club, you’ve just been proven wrong recently.
Recently, a loft unit in Punggol was sold for $1.198 million, with a Cash Over Valuation (COV) value of almost $200,000.
The unit is located in Punggol Sapphire, which is an HDB complex situated near Punggol Field.
It is ten years old, and spans 1,603 square feet on the HDB block’s 16th floor, its highest floor. The loft unit also boasts three bedrooms and a study room.
The unit is also fitted with floor-to-ceiling windows, which allow large amounts of natural light to enter the house in the daytime.
In Punggol Sapphire, there are only 23 five-room loft units. 14 such units can also be found in Treelodge@Punggol, which had a unit sold for $970,000 in December last year.
To know more about BTOs, watch this to the end:
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Featured Image: Google Maps
Here's a summary of the Chocolate Finance saga, simplified so even a non-finance kid can understand:
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