The gloomy outlook in the property market did not stop a rare Housing Board (HDB) terrace flat in Queenstown from fetching $980,000 in April, according to figures on the HDB website.
The four-room unit is located at 43 Stirling Road, and has an area of 1,162.5 sq ft. The price tag works out to approximately $843 per sq ft.
Completed in 1968, it is located close to Queenstown MRT station and Queenstown Stadium. Schools nearby include New Town Primary School and Queensway Secondary School.
There are only 285 of such 'landed' public homes in Singapore. According to ST Property, they were built in the 1960s by HDB's predecessor, the Singapore Improvement Trust, and are located in the mature estates of Queenstown and Whampoa.
The sale smashes the record price for terrace flats sold in Queenstown. The previous record was $880,000 for a three-room unit sold in January this year. In the past year, other terrace units in the area have also fetched prices of between $718,000 and $850,000, according to data from the HDB website.
It is also the most expensive four-room flat transaction in Queenstown so far this year.
The all-time record for a HDB terrace house remains at $1.02 million, which was commanded for a corner unit in Whampoa sold in 2013.