Thursday, May 4, 2023
HomeProperty4-room HDB resale flat at SERS substitute web site in Kallang bought...

4-room HDB resale flat at SERS substitute web site in Kallang bought for a file S$1.069m


A 4-room HDB resale flat in Kallang has simply been bought for S$1,068,888, breaking the earlier file set for the flat kind in Kallang/ Whampoa. Spanning 1,023 sq ft, this works out to S$1,045 psf.

Beforehand, the best transacted worth for a 4-room HDB resale flat within the property was S$1 million. Two models from Bendemeer Mild BTO had been bought at this worth, with the primary unit altering arms in June final 12 months, and the second unit in January this 12 months.

Unit is from a SERS substitute mission

As for this S$1.069m unit, it’s positioned on the twenty second to twenty fourth flooring vary of Blk 8A Higher Boon Keng Street. It’s one of many three blocks of Kallang Trivista.

Kallang Trivista is probably greatest recognized for being the SERS substitute web site for residents of the 4 iconic blocks at Rochor Street. Again in 2011, the blocks had been acquired to make approach for the North-South Hall.

rochor centre
The long-lasting vibrant blocks had been demolished in 2018.

Residents had been supplied relocation advantages beneath SERS, together with a brand new unit with a 99-year lease at Kallang Trivista.

The 808-unit mission was accomplished in Might 2016, with greater than 500 households from Rochor Centre transferring in. In the meantime, Rochor Centre was demolished in 2018, which reportedly started in heavy rain.

However the unit was most likely purchased by means of SBF

In response to a press launch in January 2017 by HDB, the excess of Kallang Trivista was supplied on the market by means of the Sale of Stability Flats (SBF) scheme. The press launch added that as of early January 2017, 721 households have collected the keys to their models.

This may clarify the lease beginning date for this specific 4-room unit, which began in 2017. It additionally implies that the unit has just lately accomplished its five-year Minimal Occupation Interval (MOP), permitting the homeowners to promote the flat on the resale market.

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In distinction, residents from Rochor Centre had been subjected to a special MOP. As they purchased the unit by means of SERS, their MOP was seven years from the flat choice date or 5 years from the important thing assortment date, whichever got here first. As their MOP began earlier, they had been capable of promote the unit two to 3 years after residing in it.

(Nonetheless, for SERS substitute flat homeowners beginning with the Ang Mo Kio SERS in 2022, the MOP will now be 5 years from the important thing assortment date. In order that they received’t be capable of promote the flats a few years after the mission’s completion.)

Potential capital acquire of S$505k to S$587k?

Primarily based on our understanding, costs of 4-room flats at Kallang Trivista had been supplied between S$482,000 and S$564,100 through the November 2015 Sale of Stability Flats train.

Now, we wish to be clear that we don’t have any information on the mode of buy for this unit, whether or not the homeowners had purchased it by means of SERS or SBF.

But when this unit had been purchased by means of the November 2015 SBF, a sale worth of S$1,068,888 would translate to a capital acquire ranging between S$504,788 and S$586,888 for the homeowners!

Kallang Trivista is subsequent to a PLH mission

With Kallang Trivista positioned subsequent to Kallang River, round 45% of the models boast river views. In actual fact, in line with HDB, its 4-room and 5-room models include balconies. Together with the 3-room flats there, these models additionally function full-length home windows within the residing rooms.

The mission is only a six-minute stroll from Kallang MRT.

At the moment, two HDB tasks are positioned alongside the river within the space: Kallang Trivista and Boon Keng Ville.

Come 2028, one other mission will probably be accomplished within the space. Kallang Horizon is a PLH mission launched within the November 2022 BTO train. It’s positioned between Kallang Trivista and Kallang MRT.

Maybe extra importantly for Kallang Trivista homeowners to notice, Kallang Horizon comes with a 10-year MOP and stricter eligibility necessities for resale patrons.

Kallang Horizon BTO
Artist’s impression of Kallang Horizon BTO. Supply: HDB

This implies these PLH flats will solely enter the resale market from 2038 onwards. Furthermore, resale patrons will probably be topic to an revenue ceiling (presently at S$14,000). PR households are additionally prohibited from shopping for these flats from the resale market.

These restrictions might draw extra patrons to Kallang Trivista, particularly those that received’t qualify to purchase a resale PLH flat or want to transfer to the world sooner.

HDB flats on the market alongside Kallang River

Planning to promote your home quickly? Allow us to assist you to realise the capital acquire by connecting you with a property agent.

Should you discovered this text useful, 99.co recommends 5-room Pinnacle@Duxton flat bought at S$1.4m, a file worth within the mission and Not too long ago MOP-ed 5-room HDB resale flat in Sengkang bought for S$928k.

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