SINGAPORE — Yet another Housing and Development Board (HDB) flat set a record high price of S$1.22 million, this time in Punggol. The rare five-room loft unit spans 1,603 sq ft at the top floor of Punggol Sapphire, a 10-year-old HDB development along Punggol Field.
The selling price translates to S$761 psf on the floor area, notes property website EdgeProp. “When the sale is completed it will mark a record price for an HDB loft unit in Punggol, jumping over the previous price high, which was only set in September 2022,” said EdgeProp, referring to the 1,603 sq ft loft unit in the same block which sold for S$1.198 million.
The option to purchase between the buyer and seller for the rare unit was signed in late December 2022 and is currently pending HDB approval. The sale is expected to be completed next month, said Amos Lim, marketing manager at ERA Realty and the property agent who represented the seller.
The loft unit was listed on the market towards late August 2022 at S$1.25 million. An accompanying TikTok video tour of the property resulted in more than 100 enquiries from interested buyers. Offers ranged from S$1.1 million to S$1.24 million, said Lim.
“Eventually, the owner settled on a buyer he felt comfortable selling the house to and who also offered the right price for the property. Part of the attractiveness of the unit is its rare loft layout, high ceiling of about 5m, and large windows that let in a lot of natural light,” he added.
Lim noted that the staircase leading to the loft does not interrupt the living space, adding to the property’s value.
Punggol Sapphire has only 23 loft units, all in the same stack facing Punggol Field. When asked if they were interested in selling their properties, most of the loft unit owners said they intended to stay as homeowners with no intention of selling anytime soon.
“For those with future plans to sell their loft flats, this latest sale will come as good news to them and will allow them to better plan their real-estate financing,” Lim noted. /TISG
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