It has been show that the public has overestimated new HDB flat prices, according to both media reports and a survey done by the Ministry of National Development. More than 1,400 HDB residents were polled for this study. The age range of Sol Acres respondents were 20 years and over and it revealed that 1 out of 5 respondents are planning to buy a flat during the next 5 years.
Last year the average price for a 4 room flat situated on an estate that was not mature was $295,000. Please visit Sol Acres Website Here.
Sol Acres Executive Condo Choa Chu Kang
The survey had been conducted in November and has shown that 1/3 of the respondents had n0 idea what the cost was of this type of flat, but 4 out of 10 respondents overestimated the amount for deposit for Sol Acres.
About 28% of the respondents believed flats such as those cost between $300,001 and $400,000, whereas 11% came to an estimated price of $400,001 to $500.00, and 5% thought they were even more than this.
Of all the respondents only 19% came close to the price of between $200,001 and $300,000. 3% of the respondents thought this type of Sol Acres flat went for much less.
MCL Land Executive Condo
Also discovered in the study was that individuals who were making plans to purchase a flat over the next 1 to 2 years were quite willing to pay well over the actual pricing, or at least as much as the price for a BTO, or Build to Order, flat in non-mature estates such as Sol Acres EC in Choa Chu Kang.
45% of the respondents said they would be quite willing to pay between $200,001 and $300,000 for a 3 room flat, where 13% they would consider paying more. 3 room flats actual go for an average price of $186,000, not including any government grants.
New EC Launching Soon at Choa Chu Kang MRT
Looking at 4 room flats, 26% of the respondents would willingly pay between $300,001 and $400,000, meanwhile 35% said they would be willing to pay higher than this. The actual price of a 4 room flat on average is $295,000, excluding any government grants in sol acres ec.
50% of the prospective investors said they would willingly pay over the average amount for a 5 room flat. Other indicators in the survey showed that prospective buyers would be willing to pay more for units situated in mature estates such as sol acres near choa chu kang mrt.