Record deal done in July, before new rules
ERA senior marketing director Sandy Lim, the agent who brokered the deal, said the home was valued at about $900,000, which means an impressive $200,000 cash-over-valuation (COV).
She said the buyers, Singaporeans, liked the flat's location and spaciousness, even though it was close to its 'original condition'. The buyers also agreed to pay the $30,000 in privatisation costs.
The estate, at blocks 314 to 319, is set to be privatised by the end of the year.
'The buyer is probably paying for the en bloc potential of the estate and also the generous space of HUDC flats that you can't find anywhere else these days,' he said.
A resident at Block 315, who asked to be known only as Mr Lim, said he was unlikely to sell his 1,770 sq ft flat as it was in 'a very nice neighbourhood'. 'We have seen fliers in the past on sales transacting at over $1 million, but we didn't know whether to believe it...I might sell if an en bloc offer with the right price comes along, but probably not individually.'