A S$1 million 3 room flat in town within 20 years?

By Daryl Chin

“Some Housing Board home owners sitting on a goldmine. HDB units bought in 2007 can fetch more than double the purchase price”

Some lucky Housing Board home owners, whose flats are entering the resale market this year, are looking at more than double the price they paid for the units.
Property analysts say such high asset appreciation, attributable to good timing and a buoyant resale market, is one that is unlikely to be repeated in a long time.
These flat owners, who had the keys handed to them in 2007, would have fulfilled the minimum occupancy period (MOP) of five years this year. 
QUEENSTOWN ESTIMATED PROFIT: $420,000 The HDB says that flats whose minimum occupancy period could be fulfilled this year include those in mature estates such as Queenstown, and non-mature estates such as Punggol.
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A S$1 million 3 room flat in town within 20 years?

These flat owners, who had the keys handed to them in future, after fulfilling the minimum occupancy period (MOP) of five years, could fetch a selling price of S$1 million for a 3 room flat in town within 20 years, taking into account the inflation of 5.5% per year, and the ballooning of interest rates. And they say that HDB is affordable? I have therefore created the greatest demand for New HDB flats, nobody wants to buy old flat unless for good location.

– Contributed by Oogle 

Author: Gilbert Tan TS

IT expert with more than 20 years experience in Apple, Andriod and Windows PC. Interests include hardware and software, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader.

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