Welcome to the million-dollar club: 4-room flat in Tiong Bahru sold for $1.158m

Yet another HDB flat has crossed the $1 million mark. This time, it's in Tiong Bahru. 

A 936 sq ft four-room flat at 10B Boon Tiong Road was sold for a whopping $1.158 million in June, according to property platform Edgeprop. This works out to $1,237 psf.

Malvin Lim, the property agent who represents the seller, shared that the unit, which is on the 29th floor, was valued at $1 million by HDB and thus, the buyer paid a cash-over valuation (COV) of $158,000. 

It was put up for sale in September last year and was listed for $1.2 million. 

Despite the high asking price, there was more than one interested buyer, according to Lim.

In December last year, an interested buyer had even made an offer of $1.15 million. However, the seller held out for a more attractive offer.

The seller had also spent about $200,000 on renovating the flat, which eventually won the final buyer over, Lim said. 

Another two HDB flats that recently joined the million-dollar club are located in Yishun. One is a 1,980 sq ft executive apartment (EA) that was sold for an auspicious $1,000,888, while the second, a 1,765 sq ft EA, was sold for $1 million. 

HDB flats aren't the only properties fetching sky-high prices. Earlier this month, it was reported that a coffee shop at Tampines was sold for $41,682,168, which beat the previous record price of coffee shop in Bukit Batok that was sold for $31 million in 2015. 

ALSO READ: Crazy rich Asian: Chinese national rents Good Class Bungalow at Queen Astrid Park for $200k a month

melissateo@asiaone.com