Friday, September 14, 2012

Million dollar HDB deal almost final

The million-dollar deal for a HDB flat in Queenstown is close to being completed, as the buyer, a new Singapore citizen, and seller agreed on the price at their first appointment with the Housing and Development Board (HDB) yesterday.

Located on a high-floor at a 16-storey block at Mei Ling Street, the 1,614.6 sq ft executive unit comes with three bedrooms and a study.

Aside from its S$1 million purchase price, the flat also holds the record psf price (S$619 psf), according to The Business Times.

Irene Ho, the property agent from DWG who brokered the deal, stated that there were about 10 parties who showed keen interest for the property. She began aggressively marketing the flat between May and June.

“I received many calls from people interested in the flat, and had to filter them because some were not willing to meet the asking price,” said Ho, adding that some buyers were keen on the property despite the hefty price tag.

“In fact before this deal was done, there was an offer to buy the flat at S$950,000 but the seller was very firm on the price, so that deal did not go through.”

Meanwhile, several consultants noted that such transactions do not fully represent the market as they form just a minority of HDB resale deals.

View the original article here

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