Rare landed public housing – HDB Terrace Houses

Who knew public housing was not always high-rise and towering 50-storey blocks.

HDB terrace houses are a rare commodity in modern Singapore and there are only 258 of these on the island. Two storeys, mostly in mature estates, and commanding high prices – most may not even have realised these gems were in their midst.

QueenstownHDBTerracePhoto credit: Queenstown.org.sg

A recent sale of a Jalan Bahagia HDB terrace house at $958,000 may rise eyebrows but considering the rarity and floor area of the unit (241 sq m), and recent sales of resale HDB units at the Pinnacle @ Duxton have already been closing on the $1 million mark, it is quite a steal indeed. It sold at a mere $370 psf and with 60 years or more left on its 99-year lease. In comparison, private properties in the vicinity sell at $2,200 psf. Earlier in the year, another such unit sold at $1.06 million. Previous sales include a 85 sq m unit which went for $760,000 in January; a 104 sq m unit at $875,000 in February and a 81 sq m unit for $708,000 in March.

Built decades ago by HDB’s predecessor, the Singapore Improvement Trust (SIT), these rare landed public housing units reside mostly in Jalan Bahagia in Whampoa, and Queenstown. Although the land can be taken back by the government anytime, and it is not a freehold private property (where the deed belongs to the home owner), these units are nevertheless much sought-after properties and provide the space and luxury of a private property at much less. Taking into consideration that there are an increasingly number of 99-leasehold private properties, being able to get your hands on one of these rare HDB terraced units is quite a coup indeed.

Leave a Comment

*

More in Property News Flash (459 of 941 articles)