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HUDC unit sale breaks record

By Romesh Navaratnarajah:A spacious maisonette at Shunfu Road has broken the record for the most expensive HUDC unit. The house was sold to a young Singaporean couple for S$1.33 million beating the previous record of S$1.28 million set in September for a similar unit in the area, reported The Straits Times.

Located at Block 316 (pictured), the mid-level unit achieved a psf price of S$800, notably lower than that of condominium units in the vicinity, and offers views of the green lawn in front of the building.

Sited in the centre of the estate insulating it from traffic noise, the block is also within close proximity to various amenities including eateries, a market, good schools and Marymount MRT station.

The seller is reportedly an engineer who purchased the flat 16 years ago. Back then, such homes went for less than S$400,000.

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According to Tejaswi Chunduri, Regional Analyst at PropertyGuru, this means that the unit has recorded a price appreciation of more than 200 percent. She added: "Some buyers are willing to pay any price for spacious and strategically located housing units."

HUDC units were launched in the 1970s to cater to middle-income households. But they were phased out 10 years later due to a drop in demand. Of the 18 HUDC projects, 12 have been privatised while the remainder are pending privatisation.

The privatisation of the Shunfu estate is already underway. A guardhouse and car park entrance barrier are being built, and the estate is being fenced up. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories:Home prices fall for five quarters claim is trueS'pore real estate outlook encouraging

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