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5-room in Tiong Bahru sold for $1.14mil

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Old 30-07-2020, 11:33 AM   #1
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5-room in Tiong Bahru sold for $1.14mil

https://www.edgeprop.sg/property-new...w-sold-114-mil

Another million dollar hdb sold. Just MOP.
The reno looks pretty good to me too
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Old 30-07-2020, 11:35 AM   #2
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Million dollar HDBs are increasingly common that the transactions no longer have that wow factor compared to the past.
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Old 30-07-2020, 11:42 AM   #3
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Million dollar HDBs are increasingly common that the transactions no longer have that wow factor compared to the past.
It still does for me. Or maybe im still living in the stone age

Cause what i feel is that with this, does it mean the gap between HDB and condo is getting smaller now?
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Old 30-07-2020, 11:47 AM   #4
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It still does for me. Or maybe im still living in the stone age

Cause what i feel is that with this, does it mean the gap between HDB and condo is getting smaller now?
The gap between newly MOP HDB and condos would eventually be smaller in order to make it possible for HDB dwellers to upgrade, if the margin is too big where would current HDB dwellers find capital for their upgrading plans?
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Old 30-07-2020, 11:49 AM   #5
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The gap between newly MOP HDB and condos would eventually be smaller in order to make it possible for HDB dwellers to upgrade, if the margin is too big where would current HDB dwellers find capital for their upgrading plans?
This makes sense too, you have a really good point there
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Old 30-07-2020, 12:04 PM   #6
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The gap between newly MOP HDB and condos would eventually be smaller in order to make it possible for HDB dwellers to upgrade, if the margin is too big where would current HDB dwellers find capital for their upgrading plans?
I believe that the market force will not care whether HDB dwellers can find capital to upgrade. The gap will always be the psychological premium of condo vs HDB... if there's no change in such psyche, you would expect the condo price to move up too.

The narrowing of margin might be an illusion... HDB 500k vs Condo 1 mil seems to be a huge gap... but HDB 1.2mil to condo 1.7mil seems like a smaller gap
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Old 30-07-2020, 12:11 PM   #7
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I believe that the market force will not care whether HDB dwellers can find capital to upgrade. The gap will always be the psychological premium of condo vs HDB... if there's no change in such psyche, you would expect the condo price to move up too.

The narrowing of margin might be an illusion... HDB 500k vs Condo 1 mil seems to be a huge gap... but HDB 1.2mil to condo 1.7mil seems like a smaller gap
Indeed, well said. It's probably the psychology of breaking the 1mil point, although the difference is still 500k

Well this is just another 1 off case, not like 70% of the 5 room can sell as high as this or the Clementi one too. The gap will still be there. For personal staying I always feel that hdb is far better than condo. It's generally bigger, more accessible amenities, and less those costly annual maintenance fee too. I always can't justify the few hundred k someone would pay for the pool that you will never use or the guard that sit there.

Not being sour but if I do purchase a condo, it's purely for investment purpose only. Looking at how the rental yield has appreciate steadily over the years
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Old 30-07-2020, 12:38 PM   #8
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I believe that the market force will not care whether HDB dwellers can find capital to upgrade. The gap will always be the psychological premium of condo vs HDB... if there's no change in such psyche, you would expect the condo price to move up too.

The narrowing of margin might be an illusion... HDB 500k vs Condo 1 mil seems to be a huge gap... but HDB 1.2mil to condo 1.7mil seems like a smaller gap
% increase
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Old 30-07-2020, 12:39 PM   #9
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Indeed, well said. It's probably the psychology of breaking the 1mil point, although the difference is still 500k

Well this is just another 1 off case, not like 70% of the 5 room can sell as high as this or the Clementi one too. The gap will still be there. For personal staying I always feel that hdb is far better than condo. It's generally bigger, more accessible amenities, and less those costly annual maintenance fee too. I always can't justify the few hundred k someone would pay for the pool that you will never use or the guard that sit there.

Not being sour but if I do purchase a condo, it's purely for investment purpose only. Looking at how the rental yield has appreciate steadily over the years
We can probably see a lot more resale HDBs breaking $1 mil soon, especially those that are next to MRT, in prime neighbourhoods and high floor with stunning view. Pinnacle@duxton had transacted above $1.2 mil now

I don't really fancy the idea of using property as investment. Property is a necessity for many people and this group of people would like to see property price/rental fee pegged to inflation rate (or average salary increment). However, the investor group of people expect extraordinary profit (like >$200psf profit in 3 years). Assuming a cost of $1300psf, that would translate >5% gain per annum! That also means from the investor perspective, the price of the property has to double every 14 years
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Old 30-07-2020, 12:53 PM   #10
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We can probably see a lot more resale HDBs breaking $1 mil soon, especially those that are next to MRT, in prime neighbourhoods and high floor with stunning view. Pinnacle@duxton had transacted above $1.2 mil now

I don't really fancy the idea of using property as investment. Property is a necessity for many people and this group of people would like to see property price/rental fee pegged to inflation rate (or average salary increment). However, the investor group of people expect extraordinary profit (like >$200psf profit in 3 years). Assuming a cost of $1300psf, that would translate >5% gain per annum! That also means from the investor perspective, the price of the property has to double every 14 years
Pinnacle D is really the pinnacle of HDB. Those lucky enough to have ballot back then would be laughing their way to the bank now.

Yes property is no doubt a necessity. But I would argue that hdb has filled that role pretty well. Anything above is just to fulfill personal greed and 虚荣心. That's some interesting maths there, double over 14 years sounds crazy to me 🤔
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Old 30-07-2020, 01:32 PM   #11
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There have been dozens of transactions in block 9 and 10 of Boon Tiong road of that value. Not sure why this is even news worthy.

https://www.edgeprop.sg/property-new...w-sold-114-mil

Another million dollar hdb sold. Just MOP.
The reno looks pretty good to me too
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Old 30-07-2020, 02:11 PM   #12
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https://www.edgeprop.sg/property-new...w-sold-114-mil

Another million dollar hdb sold. Just MOP.
The reno looks pretty good to me too
first hand BTO price bought for how much?
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Old 30-07-2020, 09:51 PM   #13
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I got a friend who bought a 5 rm sales of balance unit there at high 7xx k. Such million dollar hdbs for these blocks will be the norm. Just take a look at the prices of the condos in the area eg the newer Highline Residences which make the hdbs look like a decent deal. Same situation at Clementi, Boon Keng etc.
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Old 31-07-2020, 02:50 PM   #14
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willing buyer, more willing seller.
with this type of purchase price, looks like there will be no exit plan.

buy high, doesn't mean can sell/exit higher.
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Old 31-07-2020, 02:56 PM   #15
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willing buyer, more willing seller.
with this type of purchase price, looks like there will be no exit plan.

buy high, doesn't mean can sell/exit higher.
Most likely stay until die.
Some value convenience as priceless
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