The "jumbo flat" listed on PropertyGuru is actually two adjacent 5-room flats that cannot be sold as a single unit, said the authorities.
SINGAPORE: The property listing of a"jumbo flat" in Sengkang has caught the attention of the authorities, which called the advertisement misleading.
"Over the last six months, 5-room flats in the precinct transacted for around S$580,000. The S$2 million listing price is therefore more than $800,000 above the combined value of the two 5-room flats," said MND, HDB and CEA in their joint statement. DBSS flats are built by private developers on land bought from HDB. They are still classified as HDB flats. The scheme, which began 2005, has been suspended since 2012.
"Currently, there is no Intent to Sell registered with HDB for this particular flat, which means that the potential seller/s of this flat are not able to grant any Option to Purchase at this stage," MND, HDB and CEA said.They also reminded property agencies and agents to uphold the integrity and professionalism of the real estate industry.
In 2023, more than eight in 10 first-timer families who collected keys to their new flats or bought resale flats had a mortgage servicing ratio of 25 per cent or less upon key collection. Resale flats that were transacted at S$1 million or more form a small minority of all resale transactions, said MND, HDB and CEA, noting that such flats hold attributes such as good locations and their proximity to amenities and MRT stations.
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