In the past, the traditional real estate industry dominated the world of real estate. In recent years, many tech and internet nouveau riches have gradually started to take their place, which is why the prices of quality properties are being pushed up.
According to local media in Singapore, three high-quality townhouses along Nassim Road have been put up for sale in September this year, with an asking price of S$239 million!
In terms of conversion, the three houses are already available for sale with a record lot size of S$5,200 per square foot.
It is understood that all three properties are freehold and the houses themselves were built 23 years ago and extensively renovated in 2015.
They cover more than 15,000 square feet and are currently being rented out, with the earliest leases due to expire in late July next year.
Another villa, the premium villa at 2 Cluny Hill, was purchased by Tommy Ong for a total price of S$145.86 million, of which the then record price of S$4,291 per square foot was also broken!
There was also a premium villa at 33 Nassim Road in 2019 that was sold in May that year for a total of S$238 million, a property that also set a record of S$2,720 per square foot in 2019.
Needless to say, as long as such villas keep hitting the market, there will never be a shortage of buyers.
According to media reports, a mega HDB flat in Bedok Cistern Road was sold for about S$1.04 million on September 17 this year.
The home was reportedly listed in early August with an initial price of S$1.15 million.
Although the resale of million-dollar units is nothing new - 266 million units have been sold in Pinang so far this year - the success of this deal has still caused a stir around Bedok!
This is the first time that Bedok has seen a million HDB flats and thus Bedok is the last established town to join the million HDB flats bandwagon.
The 1862 sq ft Bedok mega HDB flat is a combination of a 3-bedroom unit and a 4-bedroom unit, so it is also known as the Bedok Tower HDB flat.
The emergence of HDB flats in Bedok indicates that as HDB prices in established areas are rising, some buyers are moving to less expensive HDB flats in less established towns.
This is because HDB flats in these immature towns are condominium style units with larger unit sizes and better views than regular units.
If they are close to MRT stations and easily accessible, they are rare units that buyers are willing to pay high prices for.
