The scarcity of such large units within Blk 50 Moh Guan Terrace, coupled with its prime location, might explain the buyers' willingness to pay such a huge sum
A 4-room Housing and Development Board resale flat located in Tiong Bahru has been sold for an astounding S$1.5 million, breaking the previous record for the highest-priced HDB resale flat.
The recently sold flat, situated on the fourth floor of Blk 50 Moh Guan Terrace, has captured attention not only for its price but also for its age. The eye-watering price for a 50-year-old flat has raised eyebrows as properties with shorter remaining leases typically have lower demand and prices, especially given the limited financing options available for older flats.Blk 50 Moh Guan Terrace was actually slated to undergo HDB’s Home Improvement Programme and Neighbourhood Renewal Programme after 2017 but it appears that these plans did not materialize.
In comparison, a 4-room HDB Built-to-Order flat typically spans 93 sqm . The price per square foot for this unique unit comes to approximately S$792, which interestingly falls below the average psf price of S$839 for HDB resale flats in Tiong Bahru this year.
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