A five-room flat in Marine Parade has set a new record for the priciest HDB flat, when it was sold at $730,000.
A 32-YEAR-OLD five-room flat in Marine Parade - still in its original condition - has set a new record for the priciest HDB flat, when it was sold at $730,000.
The flat, in a point block facing East Coast Parkway, offers a full sea view. -- ST PHOTO: DESMOND LIMThis trumps the previous HDB flat record of $720,000, which was set in June by a fairly new five-roomer in Kim Tian Place.
The buyer of the flat, who declined to be interviewed, did not bother to wait for the flat's valuation when he negotiated the price down from $750,000, said the seller's property agent from ERA, Ms Joyce Lau.
The deal was inked in half a day, when the buyer who viewed the high-floor flat in the day confirmed the buy at night, she said.
The flat, in a point block facing East Coast Parkway, offers a full sea view.
The purchase comes as HDB resale prices have registered significant increases in a buoyant property market.
The HDB market has also benefitted from spill-over demand.
The mind-boggling rate of collective sales in the past year has created a ready pool of genuine buyers, some of whom are downgrading to HDB flats.
Read the full report in Friday's edition of The Straits Times.
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