Record $653,000 for Four-room HDB flat

Nov 13, 2009

A four-bedroom HDB flat in Queenstown was sold for $653,000. The sale sets a new record for price per square foot (psf), amid the continuing demand for resale units.

The buyers, an Indonesian male residing permanently in the country and a Singaporean woman, could have purchased a condominium unit in the suburbs for the same price.

But the couple was won over by the location, which is just five minutes walk from Queenstown MRT station. The unit is also on the 40th floor, with unblocked views of the surrounding greenery from all windows.

The four-year-old 969 sq ft flat located at Forfar Heights in Strathmore Avenue, was sold above valuation for $68,000 - a level determined by an independent appraiser.

The price works out to $674 psf, which is 10 percent higher than the previous record of $609 psf achieved in January last year.