Singapore Property Update

Daily real estate news, advice and strategies for aspiring property investors

Why I paid $800,000 for a HDB flat in Marine Terrace

Hi,

My husband and I bought a 5 room HDB flat in Marine Terrace a few years ago after selling our unit at Amberville en bloc.

Though the flat was built in 1975 and has only less than 60 years of lease left, we still paid slight above market rate to secure it as it is a high floor unit facing the sea.

 

File pic: Marine Terrace HDB estate

It is also close to the market, coffeeshop, East Coast Park and just next to the up and coming Marine Terrace MRT station.

As we are retirees, we paid for the unit in cash entirely from our en bloc profits. We think it is good value of money as you cannot buy a four room condominium of such a big size under $1 million dollars in District 15.

Our two children are working overseas and will not be returning to Singapore. We are not worried about leaving the flat as a bequest to them as we are confident the government will compensate us for the remaining lease when the time comes.

 

MARLENE TAN Y J

Updated: September 28, 2018 — 3:50 pm
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