The Straits Times reported on front page today that another 5-room HDB has been transacted at a record $720,000. This time, the flat is located at Kim Tian Place, which is in Bukit Merah area, another central location.
This follows from yesterday’s news of a Jalan Membina 5-room being sold at $675,000.
I did a check on the recent resale transactions of 5-room HDB apartments at Kim Tian Place. For the past 3 months, the prices for a 6-year-old 5-room flat there ranged from $513k to $546k.
So does this mean that the record-breaking transaction represents just a one-off price spike?