The authorities have flagged the listings of two HDB flats that were put up for sale for $2 million – one listing was for two adjacent five-room flats in Sengkang marketed as a jumbo flat, while the other was a five-room flat in Toa Payoh with an “unrealistic asking...
The authorities said the listing for a 2,400sq ft jumbo flat in Block 314C Anchorvale Link was “misleading” as there are no such flats in the block.The authorities have flagged the listings of two HDB flats that were put up for sale for $2 million – one listing was for two adjacent five-room flats in Sengkang marketed as a jumbo flat, while the other was a five-room flat in Toa Payoh with an “unrealistic asking price”.
The authorities said the listing was taken down after CEA brought up the misleading advertisement to the agent’s property agency.The authorities noted that five-room flats in the precinct changed hands for around $580,000 over the past six months, and that the $2 million asking price is more than $800,000 above the combined value of two five-room flats.
The authorities noted that the $2 million listing price is almost half a million dollars above the highest transacted price in the area, and said many property experts deem it an “unrealistic asking price”. “While the HDB resale market transacts on a ‘willing buyer-willing seller’ basis, the Government will not condone behaviour, whether by agents or sellers, that seek to disrupt the market or fan consumer sentiment,” the authorities said. They urged buyers to plan their budget carefully and to be prudent to avoid overstretching their finances.
Hdb RESALE PRICES CEA/Council For Estate Agencies
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