As the cost of living in Singapore continues to rise, is affordable housing still possible?
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A FIVE-room Housing Board flat at Holland Drive has been sold in June for S$1.1 million, setting a new record for the area.
The 38th-floor resale unit at Block 18C Holland Drive has a floor area of 1,259 sq ft, which works out to about S$874 per sq ft (psf).
Soilbuild Group Holdings has won the tender for the collective sale of Kemaman Point, a freehold 89-unit residential development in Balestier Road, with a bid of $143.88 million.
The marketing agent for the collective sale, Knight Frank, said each owner stands to receive between $1.4 million and $2.32 million.
Developers reaped their rewards last month with buoyant sales of new private homes, which raised hopes that transactions for the full year may still match last year's stellar level.
There were 1,121 units shifted last month, 53 per cent up on April and 8 per cent more than the same month last year.