Cheaper than nearby flats? HDB terrace house in Balestier selling for $845k

Do you dream of owning a landed property in Singapore? 

Well, unless you're rolling in dough, buying a freehold bungalow in land-scarce Singapore will cost you. We're talking about prices in the millions. 

But, perhaps as a more affordable alternative, you might want to consider this particular HDB terrace house located in Balestier, which is selling for less than $900,000.

As posted on PropertyGuru, the HDB terrace in question is a three-room property at 48 Jalan Bahagia, with a floor area of 839 sq ft. 

While it doesn't have a sprawling space like a Good Class Bungalow, a HDB terrace is more affordable than some four-room HDB flats, as it's selling for $845,000.

A pretty decent asking price, given that some HDB flats have sold for more than $1,000,000 these days.

For comparison, other terrace houses in the area are going for upwards of $900,000. 

Even a four-room HDB at Whampoa Dew, which is a stone's throw away from Jalan Bahagia, is selling for $980,000.

Modern interior design

The property might be more than 50 years old, but step inside and you will be welcomed by the modern interiors. 

The first floor is made up of the living room and an open-concept kitchen, which opens up the entire space. 

There's even a small backyard at the end where you can grow your own plants and herbs garden. 

On the second floor, you've got the study room and master bedroom.  

The location is pretty central too, with two MRT stations in the vicinity: Toa Payoh and Boon Keng. 

The terrace house is a five-minute walk from seven bus stops in the area, which can bring you to places like Little India, Jalan Besar and even Orchard in a jiffy. 

There are an estimated 284 HDB terrace properties in Singapore.

Apart from Jalan Bahagia, there is only one other neighbourhood in Singapore that has HDB terrace houses – Stirling Road in Queenstown. 

The houses were originally built by the Singapore Improvement Trust (SIT), a former government organisation that aimed to address the housing shortage problem back in the day.

Later on, SIT was dissolved in 1959 and HDB took over in the 1960s, giving the owners of the terrace properties a new 99-year lease.

A million-dollar terrace house 

In 2021, a HDB terrace house at 39 Jalan Bahagia was sold for $1.268 million. 

The 2,217 sq ft property is a two-storey landed corner terrace in the same neighbourhood. 

The sellers renovated the property 10 years ago to create four bedrooms and two toilets, costing around $250,000.

The unit's 99-year lease started in 1972 and had a remaining 50 years and one month when it was sold.

Although the house does not have a private parking place, the estate does have a designated HDB carpark.

READ ALSO: Bridgerton in Siglap? This $16.8m Regency-style bungalow feels like you're living in a period drama

venkat.gunasellan@asiaone.com

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