Million-dollar price tag reflects enduring appeal of mature estates and their prime locations
SINGAPORE: A four-room resale Housing and Development Board unit near Kallang MRT station has been sold for more than S$1.3 million.
The property in question is a four-room unit situated on the 28th floor of Block 8B, Upper Boon Keng Road. The unit boasts an attractive view of the picturesque Kallang River and Sports City, making it a sought-after location. The property comes with a remaining lease of 92 years and 8 months and spans an area of 98 square metres.
One notable aspect of this sale is that the property is not affected by the Prime Location Model restrictions. This offers new homeowners flexibility in their investment choices, making it a lucrative opportunity for prospective buyers. Analysts have pointed out that the scarcity of new five-room flats in mature areas, coupled with the desirability of the location, has indirectly driven up resale prices of four-room HDB flats in mature areas like this one.
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