Due to a better economy this year, purchasers are forking out more cash to own a resale flat compared to the beginning of 2006.

Below show the upward trend of HDB resale prices in two typical HDB heartland locations from January 2006 to August 2007.

(1) Ang Mo Kio – 3-room flats (Table A)

*LF = Low Floor **HF = High Floor

In August 2007, out of the 50 three-room flats sold in Ang Mo Kio estate, 28% of the transactions were done at the higher price bracket. The details are as follows:

Percentage share of flats sold (Table B)

Tampines – Executive Apartments (Table C)

Highest  $388,000(Blk 893A / HF) $466,000(Blk 856 / HF) $465,000(Blk 856B / HF)
*LF = Low Floor **HF = High Floor

There were no transactions of Executive Apartments in January 2006 and July and August 2007.

Likewise, both the lowest and highest price range of larger flats have also gone up over the past one-and-a-half year starting January 2006.

For larger flats, such as executive apartments, one of the important factors affecting resale prices appears to be the age of the flats. It is clearly shown in Table C that older flats tend to attract lower price offers even if the flat is located at a higher floor. The three transactions shown in Table C are flats which are 19 years old.

All the flats sold at the higher price range tend to be newer properties (e.g. 12 years old) and on the higher floor level. (15 September 2007)

Written by Sam Gian – Independent real estate sale consultant