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Two developments are set to transform the skyline of Bishan. CapitaLand’s Sky Vue and Sky Habitat are the only condominium projects within three minutes’ walking distance of Bishan MRT station and Junction 8 shopping mall.
Three landed homes were transacted in May at a profit exceeding $3 million each. Although the properties were held for at least 10 years, their profits translate into annualised gains of between 9% and 11%.
The highest profit of $3.5 million accrued to a semi-detached house at Greenleaf View in prime District 10. The seller purchased the property in November 2004 at $2 million ($528 psf of land area) and sold it in May for $5.5 million ($1,423 psf). This translates into an annualised gain of 9%.
New HDB flats, also known as Build-to-Order flats, have been a popular choice for couples and families looking to buy their first homes. For one, they are sold at a subsidised price, which is at a substantial discount to comparable resale prices.
They are cheaper and come with a fresh 99-year tenure. There is also a sense of entitlement attached to BTO flats, as Singaporeans are entitled to purchase these flats only twice from HDB.