SINGAPORE: More five-room resale flats have been
sold above the S$900,000-mark, especially in estates like Redhill,
Queenstown, Toa Payoh and Marine Parade.
A 10-year-old flat measuring 1,184 square feet at
Block 23 Jalan Membina, near Tiong Bahru MRT station, was sold for
S$945,000.
This means that its price of S$800 per square foot
is similar to suburban executive condominiums but half the price of
private condominiums in the area.
According to the HDB, just in the first two months of this year
alone, 10 resale flats were sold for more than S$900,000
each.
And, the Singapore Real Estate Exchange said prices have risen by 5
per cent in the past year.
Senior manager for training, research and consultancy at DWG, Lee
Sze Teck, attributed the high prices of these resale flats to them
being in "mature estates (where) the BTO supply is limited. Also,
because of the high private property prices in these areas."
"We expect the resale market to remain stable, because the
government is going to build a lot more BTO flats. We only expect
resale flat supply to increase in the second half of 2013," he
said.
- CNA/ck/ir
