Singapore Property Scene Discussion

[inlinesix]

Based on Google Map, i think it is 7 Margate Road

[Windwaver]

It seems like females more than males everywhere I point my cursor on the map 

[Windwaver]

https://stackedhomes.com/editorial/900k-sale-of-3-room-hdb-flat-in-bidadari-sets-a-new-record-in-2024-heres-why/

$900k Sale Of 3-Room HDB Flat In Bidadari Sets A New Record In 2024: Here’s Why

Usually, when a resale flat comes close to $1 million, the expectation is that it’s a big older flat; hence the higher square footage and quantum. Or perhaps we’d expect a rare DBSS unit, or other such “special” flats. But as of December 2024, a “mere” standard 3-room flat managed to hit the record-breaking (for its size) price of $900,000. To be fair, this isn’t exactly surprising given that several 3-room HDB flats have already surpassed the $800,000 mark last year in 2024.

The most expensive 3-room flat took place at block 115C Alkaff Crescent

The 3-room flat is in Alkaff Lakeview, somewhere between the 13th to 15th floor, with a size of about 764 sq. ft (71 sqm). This would come to about $1,178 psf, as opposed to the average of about $560 to $580 psf for resale 3-room flats. 

This is a highly desirable location, and it was one of the most oversubscribed areas during its BTO launch. It’s within walking distance of Woodleigh MRT station (NEL). This also means being close to the recently built Woodleigh Mall, and just one stop from Serangoon, where residents have access to NEX Megamall. Also in terms of immediate convenience, there’s a commercial block at 115B nearby, which includes a food centre. 

School access is also excellent, with Maris Stella High, Cedar Primary, and Cedar Girls’ Secondary all being within a close distance. 

Given the price point, the unit likely faces the greenery view of Bidadari Park and Alkaff Lake:

A corner unit with a dumbbell layout

The unit’s layout may have a role to play here:

This 3-room flat is a corner unit, with a very efficient dumbbell layout. Note how there’s no need for a long corridor space, as the living/dining area acts as the connecting point between the different rooms. This is a trait common to newer projects. 

Being a corner unit is also seen as an advantage, as it provides greater privacy.

One other notable highlight is how new the flat is 

This 3-room flat had its lease begin in 2020, so it has just barely reached its Minimum Occupancy Period (MOP). Flats sold right after MOP tend to be at a premium, as they’re ready to move in, and yet the lease decay is almost negligible. The demand is compounded by the accessibility and convenience of the location.

Million-dollar resale flats are often associated with higher square footage, or ageing designs like double-storey maisonettes, but this transaction proves that even 3-room HDB flats have the potential to reach this price point. 

In the immediate surroundings, only Alkaff Vista has recorded transactions so far; and Alkaff Vista has no 3-room units. As such, this is one of the first 3-room transactions in this location; and it’s definitely setting a high bar. 

If we were to look for the closest other location with 3-room transactions, this would be Joo Seng Green. The highest 3-room flat transaction here is just $673,000, for a 16th to 18th floor unit. This was for a 731 sq. ft. unit, with a lease beginning back in 2017. That’s older but still less than a decade old though; and we’d say that’s a rather large price disparity. 

The next highest 3-room flat transaction, islandwide, was $860,000.

This was at 10A Boon Tiong Road, in August 2024. This particular flat had its lease beginning in 2016. It’s also in a highly desirable location, close to Tiong Bahru MRT station. So if we consider the locations to be equal, the distinguishing factor here is the lease, and $900,000 is quite the leap, as we’d expect smaller premium differences for just a four-year lease difference. 

We don’t know the circumstances behind the buyer though

This can make sense under certain niche conditions. For example, a couple who don’t expect to have children, and who prize the newness and location over spaciousness. It may also appeal to those who want the most convenient location, and have no interest in issues like resale gains (they’re never intending to move) or rental. 

It is, however, unusual for buyers to agree to such a high quantum, when it could buy them a 4-room or 5-room flat. Hopefully, for resale buyers, this is a quirk in the market, and not a sign of things to come. 

[13177]

If this is the price direction that 3 rm resale can fetch next time, really a bad news for buyers. Really cannot believe HDB can become like private, can sell near to 1 mill or 1 mills plus.

Public housing and car price in sg really getting crazy and out of hand.

[macrosszero]

Good luck to all of us - either borrowing from banks or from your own retirement funds to purchase depreciating assets.

Much hot money pumped into the system trickling down and reaching public housing already

[inlinesix]

On 1/3/2025 at 10:54 PM, macrosszero said:

Good luck to all of us - either borrowing from banks or from your own retirement funds to purchase depreciating assets.

Much hot money pumped into the system trickling down and reaching public housing already

The bigger problem is your tax dollars is used to subsidise land purchase from SLA.

It is not a left hand right hand thingy

[Throttle2]

Totally ridiculous.

Singapore is so f**ked.   Good Luck. 

[Throttle2]

On 1/3/2025 at 4:38 PM, Windwaver said:

https://stackedhomes.com/editorial/900k-sale-of-3-room-hdb-flat-in-bidadari-sets-a-new-record-in-2024-heres-why/

$900k Sale Of 3-Room HDB Flat In Bidadari Sets A New Record In 2024: Here’s Why

Usually, when a resale flat comes close to $1 million, the expectation is that it’s a big older flat; hence the higher square footage and quantum. Or perhaps we’d expect a rare DBSS unit, or other such “special” flats. But as of December 2024, a “mere” standard 3-room flat managed to hit the record-breaking (for its size) price of $900,000. To be fair, this isn’t exactly surprising given that several 3-room HDB flats have already surpassed the $800,000 mark last year in 2024.

The most expensive 3-room flat took place at block 115C Alkaff Crescent

The 3-room flat is in Alkaff Lakeview, somewhere between the 13th to 15th floor, with a size of about 764 sq. ft (71 sqm). This would come to about $1,178 psf, as opposed to the average of about $560 to $580 psf for resale 3-room flats. 

This is a highly desirable location, and it was one of the most oversubscribed areas during its BTO launch. It’s within walking distance of Woodleigh MRT station (NEL). This also means being close to the recently built Woodleigh Mall, and just one stop from Serangoon, where residents have access to NEX Megamall. Also in terms of immediate convenience, there’s a commercial block at 115B nearby, which includes a food centre. 

School access is also excellent, with Maris Stella High, Cedar Primary, and Cedar Girls’ Secondary all being within a close distance. 

Given the price point, the unit likely faces the greenery view of Bidadari Park and Alkaff Lake:

A corner unit with a dumbbell layout

The unit’s layout may have a role to play here:

This 3-room flat is a corner unit, with a very efficient dumbbell layout. Note how there’s no need for a long corridor space, as the living/dining area acts as the connecting point between the different rooms. This is a trait common to newer projects. 

Being a corner unit is also seen as an advantage, as it provides greater privacy.

One other notable highlight is how new the flat is 

This 3-room flat had its lease begin in 2020, so it has just barely reached its Minimum Occupancy Period (MOP). Flats sold right after MOP tend to be at a premium, as they’re ready to move in, and yet the lease decay is almost negligible. The demand is compounded by the accessibility and convenience of the location.

Million-dollar resale flats are often associated with higher square footage, or ageing designs like double-storey maisonettes, but this transaction proves that even 3-room HDB flats have the potential to reach this price point. 

In the immediate surroundings, only Alkaff Vista has recorded transactions so far; and Alkaff Vista has no 3-room units. As such, this is one of the first 3-room transactions in this location; and it’s definitely setting a high bar. 

If we were to look for the closest other location with 3-room transactions, this would be Joo Seng Green. The highest 3-room flat transaction here is just $673,000, for a 16th to 18th floor unit. This was for a 731 sq. ft. unit, with a lease beginning back in 2017. That’s older but still less than a decade old though; and we’d say that’s a rather large price disparity. 

The next highest 3-room flat transaction, islandwide, was $860,000.

This was at 10A Boon Tiong Road, in August 2024. This particular flat had its lease beginning in 2016. It’s also in a highly desirable location, close to Tiong Bahru MRT station. So if we consider the locations to be equal, the distinguishing factor here is the lease, and $900,000 is quite the leap, as we’d expect smaller premium differences for just a four-year lease difference. 

We don’t know the circumstances behind the buyer though

This can make sense under certain niche conditions. For example, a couple who don’t expect to have children, and who prize the newness and location over spaciousness. It may also appeal to those who want the most convenient location, and have no interest in issues like resale gains (they’re never intending to move) or rental. 

It is, however, unusual for buyers to agree to such a high quantum, when it could buy them a 4-room or 5-room flat. Hopefully, for resale buyers, this is a quirk in the market, and not a sign of things to come. 

Buyers are likely to be old couple who sold their private and pocketed money and prefer a smaller 750sft flat.  
$3mil - $1mil = $2mil.  
$2mil is $100k per year for the next 20 yrs if you are 65yrs old.  

Not enough for me, i admit, but definitely enough for regular 65yr olds. Huat ah!  

 

 

[Stary]

On 1/3/2025 at 10:20 PM, 13177 said:

If this is the price direction that 3 rm resale can fetch next time, really a bad news for buyers. Really cannot believe HDB can become like private, can sell near to 1 mill or 1 mills plus.

Public housing and car price in sg really getting crazy and out of hand.

Young people's salary not low thesedays + inheritance money from average SG  parents also quite decent, unlike the generations before them.

Edited January 4 by Stary

[13177]

On 1/4/2025 at 8:33 AM, Stary said:

Young people's salary not low thesedays + inheritance money from average SG  parents also quite decent, unlike the generations before them.

Yes, young people salary now even higher than me or very close. Don’t know it is they are high flyer or i am a failure. 😞 

[13177]

On 1/4/2025 at 1:07 AM, Throttle2 said:

Buyers are likely to be old couple who sold their private and pocketed money and prefer a smaller 750sft flat.  
$3mil - $1mil = $2mil.  
$2mil is $100k per year for the next 20 yrs if you are 65yrs old.  

Not enough for me, i admit, but definitely enough for regular 65yr olds. Huat ah!  

 

 

Even buyers are who sold their private and buy hdb, but don’t understand why they would want to pay such money for a hdb. Even you have lots of money also not anyhow spend.

Sellers can ask any price they want, definitely want to sell as ridiculous price they can fetch. But if every buyers also give in and paid such price, this is how the ridiculous price will become a trend, and everyone sell at such price.

[Throttle2]

On 1/4/2025 at 10:48 AM, 13177 said:

Even buyers are who sold their private and buy hdb, but don’t understand why they would want to pay such money for a hdb. Even you have lots of money also not anyhow spend.

Sellers can ask any price they want, definitely want to sell as ridiculous price they can fetch. But if every buyers also give in and paid such price, this is how the ridiculous price will become a trend, and everyone sell at such price.

Becos these buyers font hv much time left to live.   So it may be ridiculous but it suits their finances and they want the location so they buy. 
end up they fark the next gen lor

[Throttle2]

On 1/4/2025 at 10:40 AM, 13177 said:

Yes, young people salary now even higher than me or very close. Don’t know it is they are high flyer or i am a failure. 😞 

By 40yrs old, at least make $20kpm then about average.  If your wife makes $10k you make $20k then household $30kpm is just nice for a normal condo and decent holiday with 1 entry level conti.  
 

not bad lah, dont grumble

[Stary]

On 1/4/2025 at 10:40 AM, 13177 said:

Yes, young people salary now even higher than me or very close. Don’t know it is they are high flyer or i am a failure. 😞 

Salary level is not the yardstick to measure if one is success or failure.  

 

[inlinesix]

On 1/4/2025 at 11:51 AM, Throttle2 said:

Becos these buyers font hv much time left to live.   So it may be ridiculous but it suits their finances and they want the location so they buy. 
end up they fark the next gen lor

They f everyone.

Land price will continue to increase and more tax dollars will be used to subsidise next gen 

[Meanmachine]

On 12/22/2024 at 6:01 PM, inlinesix said:

Ya lo

Boh lang place is either cannon folder or farm.

🤭

    Please don't shout too loud hor, By 2030-2032. As reported by MOM that Anglo-Chinese School ( Primary ) will be moving out from its current Barker Rd Campus to Tengah in 2030 & United World College@Dover to Tengah by 2032, this are part of a major exercise to take back prime land, just like Anderson Sec, SJI, Raffles Girls Sch etc . .  So the Jurong East/ Bukit Batok PIE highways will become a traffic snarls to Tengah during morning and evening peak hours 😱

[inlinesix]

On 1/4/2025 at 1:24 PM, Meanmachine said:

    Please don't shout too loud hor, By 2030-2032. As reported by MOM that Anglo-Chinese School ( Primary ) will be moving out from its current Barker Rd Campus to Tengah in 2030 & United World College@Dover to Tengah by 2032, this are part of a major exercise to take back prime land, just like Anderson Sec, SJI, Raffles Girls Sch etc . .  So the Jurong East/ Bukit Batok PIE highways will become a traffic snarls to Tengah during morning and evening peak hours 😱

That’s good news.

It means less car on Dunearn Road and North Buena Vista Road

[13177]

On 1/4/2025 at 12:50 PM, Stary said:

Salary level is not the yardstick to measure if one is success or failure.  

Salary is not if one is success or failure? Then what is le? Job position? Lol.