The million-dollar HDB club
Ms Lim’s million-dollar deal was a 10-year-old unit in Punggol Sapphire, a HDB complex near Punggol Field. Occupying 1,603 sq ft on the top floor, the spacious unit has three bedrooms plus a study room. Apart from the rare loft layout, another selling point are the floor to ceiling windows that flood the home in natural light during the day.
“There are a total of 23 five-room loft units in Punggol Sapphire and 14 five-room loft units in Treelodge@Punggol, which makes it a rare find,” she continues.
Treelodge@Punggol, also a five- room loft unit in Punggol, came close to making the million-dollar mark, selling for $970,000 in December 2021.
Ms Lim notes that while the high asking price may raise eyebrows, these million dollar flats make up a small portion of overall HDB transactions.
HDB sales volumes looks set to simmer
The short supply of homes and construction delays of Build-To-Order flats due to the pandemic have pushed buyers to look at the resale market, Ms Lim explains. This in turn drives up the demand for resale flats.
The Total Debt Servicing Ratio, tightened in December 2021 from 43 per cent to 55 per cent, have not dampened demand for good homes either.
“People are also more likely to fork out more money for homes in a fantastic location or a rare property,” she adds.
News of HDB flats transacting for $1 million have made headlines of late. There were 33 such million-dollar sales in August, while prices of resale HDB flats also rose for the 26th straight month.
These relatively new flats are always in demand, due to the long duration left on their 99-year lease and potential cost savings on HDB renovations, says Ms Lim, who adds that executive apartments, jumbo flats and executive maisonettes are just as sought after as HDB has discontinued these types of flat layouts.
Finding the right property agent
Ms Lim has achieved first place in SEA’s Top Producer Awards category for nine years straight, breaking her sales record year after year.
Her client-centric approach has led to many word-of-mouth referrals, which she attributes to her success.
She finds the utmost satisfaction in helping her clients get their dream homes and draw out their future retirement plans with real estate investments.
“I feel so thankful that my clients go through the trouble of referring me to their friends or family. It really makes my day.” she says.
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