Tiong Bahru is known for being one of Singapore’s hipster enclaves — a neighbourhood full of nostalgic charm and littered with cafes and restaurants.
The low-rise HDB flats in the area are also well known for being much larger than usual.
This makes it a prime location to live in, and the units there naturally come with a hefty price tag.
For example, a 4-room flat in Tiong Bahru just went for almost $1.1 million, despite having only had 51 years left on its lease.
According to The New Paper, Block 43 Moh Guan Terrace in Tiong Bahru was sold for the princely sum of $1,088,000.
The resale flat managed to fetch such a high price due to its large size as well as central location.
As an indication, the standard market price for a 10-year-old 4-room HDB flat in Tiong Bahru is typically $700,000 to $800,000.
A real estate agent even called the flat “a rare gem” due to its attributes.
Although it’s a 4-room flat, it’s 131 square metres in size — similar to that of a jumbo flat.
In fact, the unit was created by joining 2 flats, both of which were 2-room flats.
What’s more, the flat is conveniently located near Tiong Bahru MRT station and the upcoming Havelock station.
Not only that, it’s a short 3-minute walk from the famous Tiong Bahru Food Centre.
Besides food centre, residents may also head to Tiong Bahru’s many trendy cafes, chic bars and fancy restaurants for sustenances — they’re all just a stone throw’s away from the flat.
Not only does the flat satisfy the practical needs of size and location, the area is also steeped in heritage, adding to its charm.
According to the property agent, an HDB flat with such a short lease would typically be hard to resell.
However, Tiong Bahru is a prime location, and demand for units there is high.
Hence, when the flat was put up for sale in the 3rd quarter of last year, the demand was extremely high. Many of the interested parties were young families.
The flat was also highly sought after because its unique structure allows for most of its walls to be knocked down.
This granted its owners the freedom to reconfigure the space and make it their own.
We’ve seen HDB flats fetch high prices more often in recent years.
While location and size is important, many of us want to be able to break the mould on what a flat can look like, making it uniquely ours.
If you can’t afford such a high-priced flat, you can always remodel your own flat to suit your needs, like many innovative Singaporeans who have done stunning remodelling projects on their flats.
The dream of owning a similar home will inspire us to work hard to achieve it.
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