Prices rise for HDB flats around new Circle Line stations

Property prices for HDB flats around the 12 remaining Circle Line stations, due to open this Saturday, have risen, according to property agents.

They said a three-room flat around Holland Village station now costs 10 per cent more compared to last year, going as high as S$440,000.

Over at Telok Blangah, a five-room high-floor unit recently transacted at S$810,000. A similar unit further away from the station was said to have cost about S$110,000 less.

Rental rates are also not spared – having risen by 10 to 20 per cent. A four-room flat in the same area could range between S$2,500 and S$2,800.

Property agents say the Cash-Over-Valuation (COV) for resale transactions have also gone up by 10 to 20 per cent in the areas near the stations.

Source : Channel NewsAsia – 5 Oct 2011

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