SINGAPORE: A five-room loft in Queenstown fetched the eye-watering price of S$1,658,888, StackedHomes reported on Jun 5 (Thursday).
The buyer of the Premium Apartment loft unit, located on the 22nd to 24th storeys of Block 92 Dawson Road, may well have found it worth the high price. The report described the 122 sqm Premium Apartment Loft as “a true unicorn” that’s “as rare as they come,” given its location, among public housing units. And of course, its high ceilings, yard area, and great views probably had something to do with it as well.
Moreover, it still has 89 years and 10 months on its lease.
It made the news last year when a five-room flat at Skyoasis @ Dawson on Margaret Drive changed hands for S$1.73 million.
However, StackedHomes noted that the transaction in Queenstown officially makes the unit the most expensive five-room flat across Singapore, pointing out that it appears on the database of the Housing & Development Board (HDB).
Interestingly, what the piece highlights is that not all Home and Development Board (HDB) units are created equal, and rare ones, such as the Dawson Road unit, appear to be in a different league from others.
“At the end of the day, S$1.658 million is a lot of money for any HDB flat, but for someone who wanted a genuinely unique living space in a convenient central location and didn’t particularly care about condo facilities or status, this loft unit offered something that simply isn’t available anywhere else.
Whether that’s worth $1.658 million is, of course, entirely up to the buyer. What’s clear is that Singapore’s property market has evolved to the point where certain HDB units are playing in a completely different league from traditional public housing,” the piece reads.
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In April of last year, a four-room HDB flat in the area was sold for a record-breaking S$1,238,000. The 109 sqm flat is located between the 19th and 21st floors of 90 Dawson Road, where units carry an average price of S$800,000.
The property portal 99.co noted that the S$1.238 million price tag is the highest ever recorded for four-room flats in the area, largely due to its location, which is close to many amenities and offers good connectivity, with the Queenstown MRT station within walking distance. Several schools, grocery stores, clinics, and local parks are also conveniently located nearby.
“This sale not only establishes a new standard but also underscores the constant demand for prime residential locations in Singapore,” 99.co said at the time. /TISG
Read also: 5-room Sengkang HDB flat sells for $1.058 million
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