<![CDATA[Pasir Ris flat asking for $900k]]>Pasir Ris HDB flat offered at eye-popping price tag


By property_guru | Property Blog


The red-hot HDB market is showing no signs of cooling despite public housing affordability being a key issue in the recently concluded general elections, and the implementation of various cooling measures by the Singapore government since 2010.

Fresh from the Design, Build and Sell Scheme (DBSS) fiasco, where developer Sim Lian Group stirred controversy when it announced that the indicative price of its most expensive 5-room flat would cost $880,000, the Housing and Development Board (HDB) is under the spotlight again after an eye-popping ad listing was posted on local property website PropertyGuru.

The ad shows a 1,528 sq ft HDB executive flat at Block 780 Pasir Ris Street 71 with an asking price of $900,000.

Considering that it is a public housing project located in a non-prime area and with no facilities, the unit's asking price is well above the average transacted level in the area.

Caveat data shows that the average per sq ft pricing of similar properties transacted in the area for 2011 is between $400 to $500 per sq ft.

The executive flat's asking price translates to $589.01 per sq ft, which is well above the market price.

The flat faces a park and is located just next to Tampines Expressway.

Amenities nearby include Meridian Junior College.

It is not even within walking distance to Pasir Ris MRT station and White Sands mall.

Flat is overpriced

When contacted, an industry leader said the flat was overpriced.

\"The asking price of $900,000 is definitely way beyond the market price. It is certainly a one-off case which, if the agent is able to get, it will be a record price for Pasir Ris,\" said Roza Sure Bagus, managing director of Sure Bagus (Asia) Pte Ltd.

According to Roza, she sold a flat in Pasir Ris recently for $696,000, which is $96,000 above valuation.

\"The $96,000 in above valuation is still okay, provided the house has a good view, high floor and good interior. Nevertheless, if they are buying at $96,000 above valuation, the buyer's taste in the décor may not be the same. They may renovate everything,\" said Roza.

She added that, in June, an executive flat in the area had transacted for $750,000.

\"We thought it was a record price in Pasir Ris. Now, at $900,000, it is really ridiculous. We are likening the price to a private property. An executive condominium would not cost that much either. For a $900,000 HDB flat, it is way too high,\" said Roza.

However, she reckons there might still be a willing buyer.

\"For a person who buys such flat, he might buy it for sentimental value. Perhaps, it has a breathtaking view which he may not be able to get elsewhere. The buyers are likely to be from the private property market who have already sold their properties or who were enbloc owners who made a huge profit. It is unlikely they will take any loan. They would buy this unit in cash, full settlement,\" said Roza.

Roza also believes that this is not a normal trend.

\"In view of the cooling measures, this is a one-off case . This is not a normal trend. This is not a market price,\" said Roza.

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😓 haha, too expensive for me. 😓

]]>https://forum.kiasuparents.com/topic/23952/pasir-ris-flat-asking-for-900kRSS for NodeSat, 18 Apr 2026 09:27:05 GMTWed, 13 Jul 2011 14:09:52 GMT60<![CDATA[Reply to Pasir Ris flat asking for $900k on Fri, 15 Jul 2011 10:19:44 GMT]]>For this deal to go through, you need a fool. And the fool must have at least $300k in cash. I believe the valuation is unlikely to exceed $600k, meaning the cov will work out to $300k.


For $900k, you can buy a 1,500sf condo at Elias Green if you want to stay around Pasir Ris. Or an executive flat in a much better location near the central like Queenstown. The transacted price for executive flats in Pasir had been no more than $600k, with 1 or 2 rare cases of around $700k or above.

Let’s see if such a fool surfaces.

]]>https://forum.kiasuparents.com/post/491132https://forum.kiasuparents.com/post/491132Fri, 15 Jul 2011 10:19:44 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 10:22:51 GMT]]>

KSP:
\"Pasir Ris flat asking for $900k\"


this is :siao: good luck to the person who buy it........ :moneyflies:
I think more appropriate is wish good luck to those other buyers. If someone bought this unit, the market will soon follow pricing all up again... :nailbite:

]]>https://forum.kiasuparents.com/post/488839https://forum.kiasuparents.com/post/488839Thu, 14 Jul 2011 10:22:51 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 08:58:14 GMT]]>

kiddo:
hquek:

[quote=\"sleepy\"]It's asking price, not transacted price


Agree. I can ask, but pp may not bite. methink it's just a ploy to get attention. Better ignore, else more will come up with such gimmicks.
Please note, we lease HDB from govt. Condo - they call it sub-proprietor. The difference IS there.

If i am not wrong in HK at one time was -- it this year or last year :?
a developer set a record absurb price range and push the condo
out for sale hoping to move the transacted price up in the market
and there is really a buyer and is transacted but it their own people
Am not sure if quoted rite read it some where. Anyone remember this case?[/quote]
hi, i believe this is what you are referring to. we were all shocked but as there are so many rich pp in china, some pp will just pay a very very high price for something that is worth much much less just to have their pictures and names splashed across the papers. it case is still pending.



Asian Property Market 'Reminiscent' of Pre-Subprime Crisis in USBy Caroline Dobson
Epoch Times Staff Created: Jun 20, 2010 . | |


In Hong Kong billionaire Lee Shau-kee's Henderson Land Development Co. announced that his planned sales of 20 luxury apartments had terminated, including one property, which made worldwide headlines for setting a record price of $HK88,000 (US$13,100) for a square foot. Reports have suggested that the alleged buyer had already defaulted on five other transactions in the 39 Conduit Road project. It is a prestigious development by Henderson Land Development.

The controversy surrounding such magnified prices is that the property was promoted with developers without the 42 intermediate other floors available when it become publicized in 2009. The notice about the impending sale boosted the sentiment in the market, but the cancellation has also dampened enthusiasm.

]]>https://forum.kiasuparents.com/post/488735https://forum.kiasuparents.com/post/488735Thu, 14 Jul 2011 08:58:14 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 08:38:14 GMT]]>

Oppsgal:
Only asking for $900k :? should have ask for at least $900 million. :siao:


I am still waiting for the day where the hdb flat will reach the million dollars range and see if Singaporean kids can even afford to buy and stay in one, few years down the road. :frustrated: How can Singaporeans even get married and give birth to children if no place to stay? Would see more living with cardboard box house at road side? :sad:
Yah lor then we see our children and us trying to balance
and chasing after an elusive basic necessity - a Roof over the head :gloomy:

]]>https://forum.kiasuparents.com/post/488690https://forum.kiasuparents.com/post/488690Thu, 14 Jul 2011 08:38:14 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 08:35:13 GMT]]>

hquek:
sleepy:

It's asking price, not transacted price


Agree. I can ask, but pp may not bite. methink it's just a ploy to get attention. Better ignore, else more will come up with such gimmicks.
Please note, we lease HDB from govt. Condo - they call it sub-proprietor. The difference IS there.

If i am not wrong in HK at one time was -- it this year or last year :?
a developer set a record absurb price range and push the condo
out for sale hoping to move the transacted price up in the market
and there is really a buyer and is transacted but it their own people
Am not sure if quoted rite read it some where. Anyone remember this case?

]]>https://forum.kiasuparents.com/post/488681https://forum.kiasuparents.com/post/488681Thu, 14 Jul 2011 08:35:13 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 05:20:02 GMT]]>

sleepy:
It's asking price, not transacted price

Agree. I can ask, but pp may not bite. methink it's just a ploy to get attention. Better ignore, else more will come up with such gimmicks.

Please note, we lease HDB from govt. Condo - they call it sub-proprietor. The difference IS there.

]]>https://forum.kiasuparents.com/post/488070https://forum.kiasuparents.com/post/488070Thu, 14 Jul 2011 05:20:02 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 04:27:42 GMT]]>It’s asking price, not transacted price

]]>https://forum.kiasuparents.com/post/487966https://forum.kiasuparents.com/post/487966Thu, 14 Jul 2011 04:27:42 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 03:43:54 GMT]]>

b2b3m4:
Oppsgal:

Only asking for $900k :? should have ask for at least $900 million. :siao:


I am still waiting for the day where the hdb flat will reach the million dollars range and see if Singaporean kids can even afford to buy and stay in one, few years down the road. :frustrated: How can Singaporeans even get married and give birth to children if no place to stay? Would see more living with cardboard box house at road side? :sad:

We will just ended like Japan or Hong Kong. It seems to be the case for for all highly dense and developed countries.
In Japan, housing loan is paid over 2 generations. And in Hong Kong, people squeeze themselves on doble decks. These people are not some lowly paid workers, they are OLs who can afford to carry Chanel and wear branded clothings but they just could not afford a proper roof over their head.

one reason the HK night life is very bustling is due to housing

yuppies prefer to hang out and only go home to bath and sleep. the only place at home is sleeping place

]]>https://forum.kiasuparents.com/post/487872https://forum.kiasuparents.com/post/487872Thu, 14 Jul 2011 03:43:54 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 03:33:15 GMT]]>

Oppsgal:
Only asking for $900k :? should have ask for at least $900 million. :siao:


I am still waiting for the day where the hdb flat will reach the million dollars range and see if Singaporean kids can even afford to buy and stay in one, few years down the road. :frustrated: How can Singaporeans even get married and give birth to children if no place to stay? Would see more living with cardboard box house at road side? :sad:
We will just ended like Japan or Hong Kong. It seems to be the case for for all highly dense and developed countries.
In Japan, housing loan is paid over 2 generations. And in Hong Kong, people squeeze themselves on doble decks. These people are not some lowly paid workers, they are OLs who can afford to carry Chanel and wear branded clothings but they just could not afford a proper roof over their head.

]]>https://forum.kiasuparents.com/post/487843https://forum.kiasuparents.com/post/487843Thu, 14 Jul 2011 03:33:15 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 03:27:58 GMT]]>\"Pasir Ris flat asking for $900k\"


this is :siao: good luck to the person who buy it........ :moneyflies:

]]>https://forum.kiasuparents.com/post/487825https://forum.kiasuparents.com/post/487825Thu, 14 Jul 2011 03:27:58 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 03:25:28 GMT]]>I think this is not a genuine seller, more like test the market.


And try his luck! But now this agent is on the news! hahaha

]]>https://forum.kiasuparents.com/post/487817https://forum.kiasuparents.com/post/487817Thu, 14 Jul 2011 03:25:28 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 01:37:34 GMT]]>

linden2000:
Well anyone can set a price tag as high as they wish. Whether there is a willing buyer at that price is another thing.

Would probably sell off as more \"FTs\" can afford to buy :? I am talking about FT that have already converted to be Singapore citizen...

]]>https://forum.kiasuparents.com/post/487439https://forum.kiasuparents.com/post/487439Thu, 14 Jul 2011 01:37:34 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 01:36:40 GMT]]>Only asking for $900k :? should have ask for at least $900 million. :siao:


I am still waiting for the day where the hdb flat will reach the million dollars range and see if Singaporean kids can even afford to buy and stay in one, few years down the road. :frustrated: How can Singaporeans even get married and give birth to children if no place to stay? Would see more living with cardboard box house at road side? :sad:

]]>https://forum.kiasuparents.com/post/487435https://forum.kiasuparents.com/post/487435Thu, 14 Jul 2011 01:36:40 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 01:22:21 GMT]]>Well anyone can set a price tag as high as they wish. Whether there is a willing buyer at that price is another thing.

]]>https://forum.kiasuparents.com/post/487373https://forum.kiasuparents.com/post/487373Thu, 14 Jul 2011 01:22:21 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 01:12:09 GMT]]>

LOLMum:
Pasir Ris HDB flat offered at eye-popping price tag

The ad shows a 1,528 sq ft HDB executive flat at Block 780 Pasir Ris Street 71 with an asking price of $900,000.

The executive flat's asking price translates to $589.01 per sq ft, which is well above the market price.

Flat is overpriced
When contacted, an industry leader said the flat was overpriced.

\"The asking price of $900,000 is definitely way beyond the market price. It is certainly a one-off case which, if the agent is able to get, it will be a record price for Pasir Ris,\" said Roza Sure Bagus, managing director of Sure Bagus (Asia) Pte Ltd.
She added that, in June, an executive flat in the area had transacted for $750,000.

However, she reckons there might still be a willing buyer.

\"For a person who buys such flat, he might buy it for sentimental value. Perhaps, it has a breathtaking view which he may not be able to get elsewhere. The buyers are likely to be from the private property market who have already sold their properties or who were enbloc owners who made a huge profit. It is unlikely they will take any loan. They would buy this unit in cash, full settlement,\" said Roza.

Roza also believes that this is not a normal trend.

\"In view of the cooling measures, this is a one-off case . This is not a normal trend. This is not a market price,\" said Roza.
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😓 haha, too expensive for me. 😓
Agent also orchestra it and set the tone for the market,
They are first hand speculator,
and marry the seller expectation and their bottom line,
Once the price is sold , it set a precedent and over play
buyer get caught ......it a free market system.....
agent role also rock the market de.... 🤷 :idea:

]]>https://forum.kiasuparents.com/post/487326https://forum.kiasuparents.com/post/487326Thu, 14 Jul 2011 01:12:09 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 00:18:32 GMT]]>The 1st thing that struck my mind was, "Siao ah!!! Might as well buy condo."

But do we rememeber how much our HDB and condo used to be and i shudder to think will this kind of asking price be an eventuality.

]]>https://forum.kiasuparents.com/post/487152https://forum.kiasuparents.com/post/487152Thu, 14 Jul 2011 00:18:32 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Thu, 14 Jul 2011 00:15:59 GMT]]>private condo, 99 years leasehold, outlying area, already selling at almost $1000 psf…so resale HDB at $500 to $600psf is still considered cheap


of course some buyers failed to differentiate the following :

1. condo is strata title, you have a share of the common property (HDB - no, even the super structure of the housing block belongs to HDB, HDB lessees are just leasing the airspace defined by the unit)

2. condo when old - can enbloc and top up the 99 year lease. (HDB - no, they can buy back the lease and do enbloc themselves - lessee has no chance to make enbloc profit)

3. condo has facilities, gated community…(HDB - no)

]]>https://forum.kiasuparents.com/post/487142https://forum.kiasuparents.com/post/487142Thu, 14 Jul 2011 00:15:59 GMT<![CDATA[Reply to Pasir Ris flat asking for $900k on Wed, 13 Jul 2011 23:59:49 GMT]]>Yes I read the article and I was like :shock:


This is absurd!

]]>https://forum.kiasuparents.com/post/487089https://forum.kiasuparents.com/post/487089Wed, 13 Jul 2011 23:59:49 GMT