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Thread: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

  1. #1
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    Default Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    https://www.edgeprop.sg/property-new...ircuit-breaker

    Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    By Valerie Kor / EdgeProp Singapore | May 15, 2020 6:00 AM SGT


    SINGAPORE (EDGEPROP) - A five-room flat at SkyTerrace @ Dawson transacted for $1.01 million in April, the month that saw resale volume for HDB flats hit a record low of 423 flats sold, due to “circuit breaker” measures.

    The buyer had viewed the 1,065 sq ft flat just before the circuit breaker period kicked in and exercised the option to purchase later on. The seller is upgrading to a larger private property.

    The high-floor unit faces the Sky Park and enjoys a breezy view of Ridley Park and the surrounding Good Class Bungalows. The previous owner had hacked one wall to create a walk-in bedroom in the master bedroom. As such, the unit has two bedrooms.

    James Ho, associate group director at PropNex who closed the deal, says: “Because there are only two rooms, we focused our marketing on buyers who are not really looking to raise a family. In the end, a couple in their early 40s bought the unit.”

    The unit is tastefully designed in a monochromatic style. It was snapped up about three weeks after it was listed at the beginning of March. Ho shares that 25 groups came to view the unit over three weekends and they received more than 40 enquiries, despite the million-dollar price tag.

    The new owners of the flat are upgrading from an older, 40-year-old HDB flat. They were most attracted to the unit’s city-fringe location. SkyTerrace is only an 11-minute walk to Queens-town MRT Station on the East-West Line and only five or six stops to the CBD, via Tanjong Pagar or Raffles Place. Singapore Botanic Gardens and Orchard Road can be reached within 10 minutes by car.

    In April, prices fell 1.5% for three-room HDB flats, 0.2% for four-room flats and 1.8% for executive flats from March. However, prices for five-room flats increased by 2%. Ho says: “This million-dollar transaction could have pushed up the average prices. However, I don’t think it is particularly the five-room layout that is high in demand. The location, design and condition of a unit are probably more important.”

    In 2008, renowned architectural firm SCDA Architects was commissioned by HDB to design SkyTerrace as part of rejuvenation plans. It bears high-quality design that makes it appear “condominium-like”, albeit without a gated fence.

    The 758 units across five towers, ranging from 40 to 43 storeys, have flexible layouts that include loft units and paired units, meant for multi-generational living. Sky gardens with lush landscaping are built on the upper floors, which offer communal spaces and breathtaking views. The towers are conveniently linked by bridges to amenities at Block 85, which houses the multi-storey carpark and 30 commercial spaces accommodating a supermarket, childcare centre, senior citizen centre, and various eateries and shops.

    Across the street, there are also five shops, an eatery and a supermarket at SkyVille Dawson, a Build-To-Order (BTO) development designed by WOHA. The residents at SkyTerrace and SkyVille can enjoy amenities in both developments.

    The 1,718 units at SkyTerrace and SkyVille were almost 12 times oversubscribed when they were launched together in December 2009, even though prices were higher than other BTO launches at that time. The prices of five-room flats at these two developments started from $532,000.

    As flats in these two developments reach minimum occupancy period (MOP) this year, supply might increase and make selling units more competitive. However, there might also be more million-dollar deals being transacted as the developments are unique and well-designed. Earlier this year, a five-room unit on the 19th floor at SkyVille transacted at $1.01 million and another five-room unit on the 35th floor of SkyTerrace also crossed the million-dollar mark at $1.038 million.

    Adelyn Chan, associate division director at PropNex and founder of D3 Dawson Team, shares that despite stay-home measures, 17 homeowners in SkyTerrace engaged her team to market their unit in March. As of May 12, her team is managing more than 20 units there.

  2. #2
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    Wonder what will be the break even price for the owner and will he still profit after 5 years down the road??

  3. #3
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    Quote Originally Posted by Majed View Post
    Wonder what will be the break even price for the owner and will he still profit after 5 years down the road??
    Supply vs demand.

    Also what will the govt do? Will they clamp down on upper limit of HDB resale price? For resale, it doesn't make sense for the govt to intervene.

    So perhaps they will let the market decide.

  4. #4
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    Nothing to do with Supply and demand for Self Stay. If life is so simple everything also supplies and demands we will have a lot of rich people.
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    A lot of transactions for HDB flats in prime area transacting over Million dollars nowadays!!! Unbelievable!!!

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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    really like buying a private condo without facilities!!!!!

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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    in my opinion, buyers who willing to pay $1m HOB, is for the million dollar view and location near orchard, business district

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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    Quote Originally Posted by adam ng View Post
    in my opinion, buyers who willing to pay $1m HOB, is for the million dollar view and location near orchard, business district
    The view will soon be blocked by anther building!!!

  9. #9
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    I have come across a few friends who sold their old private condo and buy this type of just MOP HDB with premium view and location and still have spare cash on hand, wise choice?

  10. #10
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    Wonder if the buyer view the place physically

  11. #11
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    million dollar view that's why a million dollar home! A willing buyer who goes for what he deems fit his want!

  12. #12
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    Don;t think can view do physical viewing right now! Let's see phrase 2

  13. #13
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    Default Re: Million-dollar HDB unit at SkyTerrace @ Dawson sold during circuit breaker

    anyone got lobang for home contents insurance !

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