More Singapore Public Housing Flats Selling At $1 Million.

Online, October 17, 2012 (Newswire.com) - More cash rich Singapore buyers seeking out public housing flats. These public housing flats (also called Housing Development Board Flats - HDB Flats in short) are sought after by buyers who are cash rich as private condominium prices rise faster. These growing group of cash rich home buyers, many with budget more than $1 million, considers premium HDB flats as best value for their money.

With the price differential between new launch private property and HDB flats growing in prime locations such as Bishan, Queenstown and Clementi, cash rich buyers are finding even seven figure HDB flats a good value for their money. It is also difficult to find new condominium units above a certain size in these locations. Such buyers usually start off looking for private property but gradually moderated their expectations. It is sometimes difficult to find larger sized private condominium in prime locations at below $2 million. Thus, making HDB flats more worth it.

Nationwide, the price gap between HDB resale flats and private condominium has growth but at a slower pace. Over the past two years, HDB resale flats grew at about 16 per cent while private residential units grew at about 23.4 per cent.

There are young professionals whose combined income make them ineligible to buy Build to Order Flats or even executive condominium. These buyers who want a good location are sometimes willing to forego condominium amenities and actually feel the absence of management fees a bonus.

Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.

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