Our PRs are helluva rich bunch

Posted: November 13, 2009 by fievel in Labels: , ,

Some helluva rich PR just paid $653,000 for a 4-room HDB flat...just imagine what its doing to the valuations of other flats (and condos) which are marked-to-market...
Well done Prime Minister Lee and Mah Bow Tan.

I'll be forwarding this piece of news to all my Singaporean friends who are currently overseas so as to warn them against coming home. I hope everyone does their part and forward their friends this news out of good will, lest they might be happily planning to return home, unaware of what they are walking back into.

This particular flat was bought for $262,000 4 years ago...now going for $653,000, before we are even out of the @#%^ worst recession. Has something gone terribly wrong with PAP's immigration and housing policies? Is this a joke? It must be right? Either I am crazy, or they are. This was a definite case of our cheese getting moved...again.

Nov 13, 2009
$653k for 4-room HDB flat
Industry players caution high price for unit in Queenstown is a one-off
By Jessica Cheam
A FOUR-ROOM Queenstown HDB flat has sold for $653,000, setting a new record for price per sq ft (psf), amid continuing red-hot demand for resale flats.

The buyers, a male Indonesian permanent resident and a Singaporean woman, could have bought a condominium unit in an outlying area for the price.

But they were won over by the location, just five minutes walk from Queenstown MRT station, and on the top, 40th floor of the block, with unblocked views of greenery from all windows.

The four-year-old 969sqft unit at Forfar Heights, Strathmore Avenue, sold for $68,000 above valuation - a level determined by an independent valuer.

This works out to $674 psf, smashing the previous record of $609 psf, achieved in January last year, by about 10 per cent.

This may be an unusually high price but resale prices have been moving up.

Read the full story in Friday's edition of The Straits Times.


  1. Anonymous says:

    ... please.

    do you think that EVERY pr would shell out this kind of money?

    read carefully... he is an indonesian national.

    you know, the type who has ALOT of money?

  1. Anonymous says:

    to anon 11:15,
    If he has ALOT of money , why buy HDB ?

  1. Anonymous says:

    buy HDB, later can get govt subsidy and rebate on conservancy etc etc

  1. Anonymous says:

    Dun worry Mr Fivel!
    The price of this transaction will be factored into the valuation of your market-subsidized flat ... u will be paying more too!