Rare HDB terrace house sold for $1.02m

Rare HDB terrace house sold for $1.02m

A rare HDB corner terrace house in Whampoa commanded $1.02 million in April, exceeding the previous record-setter, a Bishan Street 13 maisonette, which was sold for $1.01 million in January.

It is the fourth Housing Board resale unit to be sold for $1 million or more, the Singapore Real Estate Exchange (SRX) told The Straits Times.

But property analysts emphasised that such record-breakers are rare exceptions to the norm.

The latest, for example, is one of Singapore's 285 "landed" public homes, located in Whampoa and Queenstown.

They were built in the 1960s by HDB's predecessor, the Singapore Improvement Trust.

The million-dollar home, a 266sqm three-room house with a garden, has 59 years left on its 99-year lease.

It was sold to a neighbour who lived in a smaller 92 sq m terrace house farther down the road, revealed PropNex senior vice-president Lim Yong Hock.

"The buyer has been living there for a long time and they wanted to stay on in this kind of property, so they switched over and moved nearby," he said, declining to reveal more except to say that they are Singaporeans.

The price tag, which includes $140,000 cash over valuation (COV), works out to an approximate rate of $360 per sq ft (psf).

Public residences that cross the million-dollar mark are unusually large units in prime locations, he said.

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