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Queenstown’s SkyTerrace @ Dawson resale flat offered for document $1,418,000, Latest Singapore News

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Housing Board flat resale costs rose for the twenty fifth consecutive month in July, with costs growing by an average of 0.7 per cent compared with June.

Of the two,363 flats transacted final month, 33 models have been offered for not less than $1 million, together with a five-room premier house loft unit in Queenstown’s SkyTerrace @ Dawson that offered for $1,418,000 – the costliest resale flat in historical past.

Non-mature property Bukit Batok additionally recorded its first million-dollar transaction final month, the place an govt flat was offered for $1,005,000. Two different non-mature estates – Hougang and Woodlands – additionally had a million-dollar sale every.

Among the mature estates, Bishan recorded 10 million-dollar flats final month, whereas Ang Mo Kio had 5 such transactions and Queenstown had 4.

Resale volumes in July have been up 10.5 per cent from 2,139 in June.

These flash figures have been revealed by property portals 99.co and SRX in a report on Thursday (Aug 4).

The report stated that in contrast with June, transaction costs in mature estates elevated by a median of 0.8 per cent, whereas these in non-mature estates elevated by 0.6 per cent.

When damaged down by flat kind, govt flat costs had the largest month-on-month progress at 1.2 per cent, whereas three- and four-room flat costs went up by 0.6 per cent and five-room flat costs elevated by 0.5 per cent.

Compared with July final 12 months, flat costs have elevated by 11.6 per cent general, whereas transaction volumes have dropped by 11.3 per cent year-on-year, with 2,663 flats offered in July final 12 months.

Ms Christine Sun, senior vice-president of analysis and analytics at OrangeTee and Tie, stated that whereas July’s resale volumes are at a six-month excessive, the gross sales restoration has not been robust because the Government carried out measures to chill the property market in December final 12 months.

The measures included elevating extra purchaser’s stamp responsibility charges, in addition to tightening the loan-to-value restrict for residences, which determines how a lot cash consumers can borrow to purchase the property.

“Escalating home prices may have dampened sentiment as overall resale prices have already risen 6.1 per cent over the past six months,” she stated, including that latest Build-To-Order launches could have drawn some demand away from resale flats.

Meanwhile, senior analyst for analysis and content material creation at One Global Group, Mr Mohan Sandrasegeran, stated the month-on-month improve in resale volumes displays “the appealing nature of the fixed interest rates offered by HDB” for risk-averse consumers.

He stated that any rate of interest hikes by banks or HDB within the coming months could trigger a slowdown in resale transactions.

Ms Wong Siew Ying, head of analysis and content material at PropNex Realty, famous that flats in non-mature estates accounted for about 56.7 per cent of the resale quantity final month, with flats in Sengkang, Punggol and Yishun well-liked amongst consumers.

With rising rates of interest and the agency costs of resale flats in mature cities, she expects that non-mature HDB estates will proceed to be well-liked with resale consumers.

Ms Sun stated that million-dollar transactions are holding agency “possibly because prices of private homes are still rising, especially in the city fringes and prime locations”.

HDB resale flats could also be a less expensive choice for many who want to reside in these areas, she stated.

Mr Sandrasegeran stated that about 26 per cent of the 199 million-dollar flats offered this 12 months up to now have been govt flats.

With no new govt flats being constructed and a shortage of this flat kind, they are going to proceed to draw a distinct segment group of consumers who prize spacious houses, he stated.


Queenstown’s SkyTerrace @ Dawson resale flat offered for document $1,418,000, Latest Singapore News.
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