Despite a cooling property market, a 5-room flat at Strathmore Avenue in Queenstown was sold for $958,000 last week, reported Shin Min Daily News.
The sale comes after a 5-room flat in Toa Payoh was transacted for $955,000 during the Ghost Month, which is usually a quiet period for the housing market.
Measuring 118 sqm, the four year old HDB unit is located between the 25th and 27th floors.
34 year old Wu Mei Ling said she purchased the flat for $538,000 but had to sell it as she plans to return to work. This means that she made a $420,000 profit from the sale.
According to property data, a similar unit with a 99-year lease was sold for $900,000 in February.
Ms Wu will be moving to a place near her parents so that they can look after her two children.
Her real estate agent revealed that there were 30 phone enquiries about the property within two weeks of putting it on the market, while 18 groups viewed the unit.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
