Category: HDB News

Record $673 per square foot for Queenstown HDB flat

An Indonesian Permanent Resident (PR) and a Singaporean woman paid $674 per square foot (psf) or $653,000 in total for a 4rm flat in Queenstown. This breaks the earlier record of $609 psf made in January 2008.

Are we surprised? Nope. With the flexible PR policy, lack of immediate supply, skyrocketing mass market condo prices and most importantly location...this was bound to happen sooner or later.

The unit is found along Strathmore Avenue, and if you are wondering why it sounds so familiar...that's because it is shares the same street address as the much anticipated Dawson Build-To-order next month. Even if we exclude the $68,000 cash-over-valuation, we are guessing the previous owners would still have made a killing from the difference of the original price...so don't say we didn't tip you on whats hot! (Editor: Application for TOTO BTO is only $10...)

But before everyone starts asking their agent to sell their flats at $674 psf, here are some prices to put that price into perspective:

• New 4rm BTO flat in Sengkang, Fernvale Palms: $213 - $261 psf
• New 4rm BTO flat in Punggol, Punggol Residences: $269 - $330 psf
• Resale 4rm flat in Ang Mo Kio: $381 psf*
• Resale 4rm flat in Queenstown: $478 psf*
• Resale 4rm flat along Strathmore Avenue: $539 psf*
• Resale Condo in Ang Mo Kio, Grandeur 8: $693 - 827 psf**

So with $653k, you could get a brand new 4rm Sengkang flat plus a brand new Mercedes-Benz E200 Class Saloon and $100k+ to spend on rims the wife.

As usual...you can share with us your thoughts here!

*Average Prices October '09
** URA September '09
via Straits Times

Posted on 13-11-2009 11:15 | By Francis