5-room Punggol flat sold for $760,000

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A premium five-room flat in Punggol fetched $760,000 on the resale market last month, setting a new record for the non-mature estate.

The price was possible as the flat is not only larger than usual, but also has a rare loft design, said the agents behind the deal. "The unit itself is unique," said PropNex agent Godfrey Chan, who marketed the flat with his partner Rosalind Teo.

According to SRX Property's records, it is the biggest sum paid for a Housing Board (HDB) five-room flat in Punggol. Such prices are more usual for popular mature estates such as Queenstown.

The previous Punggol record, set in 2012, was $650,000. But the resale market has cooled since then.

In the past 12 months, five-room units in Punggol have been resold for as little as $355,000 and no more than $544,000, until now.

As a premium flat, the $760,000 unit is larger than usual, at 147 sq m compared to the typical 110 sq m.

- See more at: http://business.asiaone.com/property....WFC1gwHT.dpuf


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