THE TEMASEK TIMES

News and views from an unique perspective

Shunfu HUDC maisonette fetches record $1.28 million dollars

Posted by temasektimes on September 19, 2012

After an executive maisonette in Queenstown was sold for an eye-popping $1 million dollars last week, another record was broken as a HUDC maisonette in Shunfu was sold for $1.28 million dollars.

This sets a new record for a HUDC flat, beating last year’s sale of a 1,668 sq ft unit in the same neighbourhood for S$1.22 million.

Speaking to queries from the media, the property agent who brokered the deal said the unit was sold to a Singaporean family and is a very rare corner maisonette located on the top floor.

National Development Minister Khaw Boon Wan had earlier said the Queenstown deal fetched such a high price because of the ‘spectacular’ view offered by the unit.

Prices of HDB flats have continued to sky-rocket despite the release of more new flats into the market and the introduction of a slew of cooling measures.

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27 Responses to “Shunfu HUDC maisonette fetches record $1.28 million dollars”

  1. P Koh said

    As long as the flood-gate for FTs’ entry into Singapore is not checked, we can continue to see the prices of HDB flats rise even further as the criteria for purchase by Singaporeans are not easy to comply as there are far too many rules and regulations.

  2. david said

    I hope the original vision of HDB in providing affordable housing to Singaporeans is not forgotten.

    • True sinkie said

      The vision is to provide more business and investment opportunities and to grow the “country’s” wealth.

      • Singkaypoh said

        So Temasick & GAiSee got more $$$ to go shopping, u mean?

      • P Koh said

        No! Temasek Holdings need money and they have just divested 4.1% holdings in Fortescue Metal Group Ltd in Australia for $880million. Can anybody enlighten us whether it was a loss or a gain in that investment.?

    • Robin hood said

      Alas, David. New public housing flat now costs half a million dollars. My humble estimate the construction cost, land cost, legal cost, etc for a BTO flat does not exceed $150,000.00. Young citizens are indeed entrapped into paying for the flat until they retire. The MND will not disclose the actual figures unless it is forced to by a strong opposition in Parliament. Looks like we can’t count on WP. So, it is indeed sad that we have to bear the misery.

    • This is a HUDC flat, meaning, it CAN be privatised.

      • P Koh said

        Yes I know, it was a typo error. I had actually sold one unit in Braddle Heights for S$1.1million several years ago. So the million mark is nothing new.

  3. Daft Peasant said

    OH…….?

    My prediction of the next sales figure at S$1.2 million come true!!!!

    Alright !!! Let’s wait for the next round: S$1.5 MILLION !!!!!

    HUAT ARH~~~~~~~~~~~~~!!!!!!!!!!!!!!!!!!!!!!!!

    HA HA HA HA HA HA HA HA HA HA………………………

  4. True sinkie said

    If this is not ” mismanaging the cost of living in sinkapore” i don’t know what to call it. The basic roof over our head has gone to astronomical heights. What will happen to future generations and our generation that is getting old?

  5. GodBlessSG said

    If our beloved govt. does not take further actions, it’s a price our children will need to pay dearly.

    Case in point, immediately after US Fed Reserve announced QE3, the next day, Hong Kong govt. came out with new cooling measure.

    Actually, my take is our PAP govt, knows the impacts of the QEs, it’s just that they still need $ from land sales due to investment losses from someone’s wife, so I really don’t think they will come out with any effective cooling measures. If not, land sales revenue will be affected. Just look at our cooling measures so far. They are really child’s play.

    • Singkaypoh said

      All such profits will just be shopping $$$ for said person lor, since unlike IR casinos which set limits for problem gamblers, no such limit applies, like all those rogue traders in UBS, Barings, etc.

  6. FR said

    Such a noisy and congested area also $1.3M ??

  7. why said

    No reason for them to make housing affordable – the higher the cost of housing, the more amount of CPF government is able to retain and use for its investment arms. That is why HDB loan at 2.6% is higher than 2.5% CPF interest rates. Land and housing are cash cows – notice the HDB flats are being SERs are mostly next to MRT stations – Kallang, Queenstown – back to government as land to be auctioned off to developers for a princely sum.

  8. HK said

    I was from STI (nowadays its call ITE), start working after finish my army end of 1993, my starting pay was $800, then a new HDB 4 room flat in Tampines new town (that time it is still a new town) cost around $90-100K.
    Today, a new BTO 4 room flat at Sengkang/Punggol cost around $280-300K, that is around 3 times more than my time, but does the starting pay of a ITE or even a Poly graduate got 3 times more compare to my time????? You do the math

  9. Babuseng said

    The government is only looking at economic growth, and not at cost of living indicators. Totally misguided – their salary incentives need to be further modified to align with the people on the ground.

  10. Davi said

    Don’t worry, this is not a big picture. Cow said. Lol

  11. welovesingapore said

    They let market force determine the price. They see no reason to disturb the uprising trend so much because they will offend those that cash out on their hdb. They are very glad that the younger generation is tied down to hdb loan so that they must work hard to pay off the loan no matter what. By the time the supply catches up with demand, the price would have become exorbitant to afford. The gahman coffer increase everyday when resale price tilt higher. The young would not feel the pain until they reach a less attractive career age and suddenly realised that the job market is not in their favor. That when all the pain and anguish will come out from them. By then it is too late. That is why it is call marginalizing the citizen’s rights in livelihood by giving away to FT.

  12. Ron said

    Good luck to the buyers. The economy is getting worse. China is definitely slowing down and 2013 will be worse. EU and USA are not able to show strong growth. How can Spore perform well? And I cannot believe property prices and continue to go up and up.

    Good luck to them.

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