{"id":72888,"date":"2024-02-15T21:42:53","date_gmt":"2024-02-15T13:42:53","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=72888"},"modified":"2024-02-20T14:36:48","modified_gmt":"2024-02-20T06:36:48","slug":"recently-mop-4-room-hdb-kallang-capital-gain-500k","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/recently-mop-4-room-hdb-kallang-capital-gain-500k\/","title":{"rendered":"Recently MOP-ed 4-room HDB in Kallang has capital gain of 500k"},"content":{"rendered":"
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Image credit: Look Architects<\/em><\/p>\r\n

In the neighbourhood of Kallang<\/a>, where property transactions seem to be breaking records left and right, another sale in the area caught our eye.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

Just last week, we discussed the record-breaking sale of not just a 3-room HDB, but also a HDB terrace and the oldest million-dollar home at the time of the transaction, with a lease of only 47 years remaining<\/a>. And now, we have another noteworthy sale to add to the list \u2013 a recently MOP<\/a>-ed 4-room HDB flat that sold for a little over a million dollars.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

This sale marks the first million-dollar transaction in the project, and it might not be the last.<\/span><\/p>\r\n\r\n\r\n\r\n

That\u2019s a capital gain of S$446k to S$576k<\/b><\/h2>\r\n\r\n\r\n\r\n

Located in Block 26A and situated between the 22nd to 24th storey, the S$1.02M 4-room unit is 990 sqft. This works out to around S$1,030 psf. The remaining lease on the flat at the time of sale also stood at 95 years and 5 months.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

The HDB resale<\/a> unit in question is part of the Saint George\u2019s Tower BTO project<\/a>, which was launched for sale in the September 2014 HDB BTO<\/a> exercise. During the initial sale, 4-room flats in this project were priced between S$459,000 to S$574,000, with selling prices, including HDB grants, potentially dipping as low as S$444,000.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

\"Seller<\/a><\/figure>\r\n\r\n\r\n\r\n

While the capital gain<\/a> hovers around S$500,000, it’s important to consider other selling costs<\/a> such as legal fees and agent\u2019s commissions,<\/a> which might slightly reduce the net gain.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

But overall, it looks like Saint George’s Tower is also joining the ranks of HDBs that reach million-dollar valuations upon reaching MOP, similar to City Vue @ Henderson<\/a> and Toa Payoh Apex<\/a>. This is likely due to its prime location.<\/span><\/p>\r\n\r\n\r\n\r\n

Read more:\u00a0<\/strong>City Vue @ Henderson sells for S$1.46M, second highest HDB transaction in Bukit Merah<\/a><\/p>\r\n

Looking for more HDB flats that MOP-ed this year besides Saint George\u2019s Tower?<\/strong> Check out our article here:\u00a0Full list of BTO projects hitting MOP in 2024\/2025 & Our top picks near the MRT<\/a><\/em><\/p>\r\n\r\n\r\n\r\n

\"4-room<\/a>\r\n
Image credit: Look Architects<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n

Saint George\u2019s Tower<\/b><\/h2>\r\n\r\n\r\n\r\n

The name Saint George\u2019s Tower may ring a bell for some.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

In 2020, the architecture firm behind the design of three blocks at Saint George’s Towers Build-To-Order (BTO) project received a top design award for Housing Board projects<\/a>. The unique architectural features of these towers, including staggered windows every six floors, earned Look Architects the HDB design award under the housing category.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n

Apart from its aesthetic appeal, the project offers residents facilities like fitness equipment and benches where they can enjoy unobstructed views of the city and the Whampoa River.<\/span><\/p>\r\n\r\n\r\n\r\n

Read more:<\/strong>\u00a010 condo units made at least 200% gain in April 2023, biggest at S$2.47m<\/a><\/p>\r\n\r\n\r\n

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Properties for you in Saint George's Tower<\/h4><\/div>\n
See all listings<\/a><\/span><\/div>\n <\/div>\n
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\n \"Duo\n <\/div>\n
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Duo Residences \/ Duo Tower\/Duo Galleria<\/div>\n
1 Fraser St \u00b7 D7<\/div>\n
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\n \"bedroom\"\n 1<\/span>\n <\/div>\n
\n \"bathroom\"\n 1<\/span>\n <\/div>\n
\n 646 sqft<\/span>\n <\/div>\n <\/div>\n
S$ 1,488,888<\/div>\n <\/div>\n
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