It Good Deal 860000 Three Room Hdb Flat

SINGAPORE (EDGEPROP) – The record-setting sale of a three-room HDB flat at 10A Boon Tiong Road for $860,000 ($1,289 psf) last month has sparked interest in the property market. Completed in 2016, the 667-sq ft flat, situated on the 34th storey, is now the highest transacted price ever for a three-room HDB unit in Singapore. With central location and numerous amenities, the Bukit Merah Planning Area has always been a popular residential area. The flat is within walking distance of Tiong Bahru and Havelock MRT Stations, Tiong Bahru Plaza, Tiong Bahru Market and Food Centre, Beo Crescent Market, and Havelock Road Cooked Food Centre, as well as primary schools such as Alexandra Primary School and Zhangde Primary School. However, the high transacted price has raised concerns among potential buyers, wondering if the buyer managed to secure a good deal. To determine whether or not the buyer made a good deal, our analytics tool ‘Is it a Good Deal?’ was used. The result showed that the transacted price for this HDB flat is significantly higher than the average price for the district. However, the flat enjoys a long remaining lease and has numerous nearby amenities, which may justify the price. The number of three-room HDB flats fetching at least $800,000 has spiked in recent years. In the first eight months of this year, 29 transactions were recorded for flats islandwide, of which six were in Bukit Merah. In contrast, only four such transactions were recorded in the entire last year, and only one was in Bukit Merah. This trend indicates that buyers are willing to pay a premium price to live in this central location with plenty of amenities. Two other three-room flats in Bukit Merah, located at 57 Havelock Road and 58 Havelock Road, were also sold for at least $800,000 last month. However, the transacted prices of these flats were lower as they were less conveniently located near MRT stations. With an increasing number of three-room HDB flats in Bukit Merah fetching high prices, the average resale price for three-room flats in the area has been consistently trending below that of their four-room and five-room counterparts. Furthermore, the growth in average prices for three-room flats in Bukit Merah has been slower since 2020 compared to that of four-room and five-room flats. However, the average resale price for three-room flats in Bukit Merah is still higher than that of the Central Region and islandwide. The difference in prices between HDB flats and leasehold condos in Bukit Merah have also been widening in recent years. Last year, the price gap between the two types of residential properties was $1,437 psf, which has now widened to $1,448 psf this year. This gap is expected to increase, making it financially more attractive for buyers to opt for HDB flats instead of leasehold condos in the same neighbourhood. Therefore, although the transacted price of the three-room HDB flat at 10A Boon Tiong Road may seem high, it is actually a good deal compared to the prices of similarly-sized leasehold condos in Bukit Merah. Furthermore, HDB flats in the area have achieved a stronger price growth since 2020 compared to their condo counterparts. Overall, the record-setting transaction of this HDB flat in Boon Tiong Road may have sparked some concern, but it is still a good deal for buyers who are determined to live in this popular central location with an abundance of amenities.

The Woodlands, known for its dedication to nurturing strong families and a tight-knit community, is set to experience further improvements in its educational landscape as part of comprehensive regional growth initiatives. As a result, the area may welcome new educational institutions, revamps to current establishments, and an increase in community-based learning opportunities. These developments would greatly benefit the residents of Norwood Grand, a condominium complex located in the heart of the Woodlands area. With the addition of Norwood Grand Condo, the community can expect even more educational advantages and resources to support their growth and development.