The first flats from the Bidadari housing estate have hit the resale market, and analysts say the initial transactions show there is strong demand for flats in the area, especially from young couples looking to buy their first homes.
According to Housing Board data, four transactions have been lodged for flats in Bidadari Park Drive. Three were four-room flats that transacted for between S$937,500 and S$1.17 million.
The remaining transaction was a 113 sq m five-room unit that was sold for S$1.2 million.
Some analysts say the prices could serve as benchmarks for other transactions in the area, while others cautioned against thinking that “million-dollar” transactions would be the norm for flats there.
The deals were among the first resale transactions from the new estate, where flats in Alkaff Vista – which comprises 199 four-room and 151 five-room flats – recently fulfilled their five-year minimum occupation period (MOP).
Built-To-Order (BTO) flats in Bidadari were significantly oversubscribed when launched in November 2015, with as many as 20 applicants vying for a five-room unit.
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Now that the flats can be resold, property agents and analysts say prices reflect the high demand for homes in the area.
They said resale buyers are keen on the units even though it is a new estate, because of its convenient location on the city fringe and proximity to amenities such as MRT stations and The Woodleigh Mall.
PropNex agent Jayden Chia said he received five offers for the 94 sq m unit in Alkaff Vista, and the eventual buyers – a couple in their 30s – agreed to purchase it for $1.08 million in September.
The transaction has yet to be reflected on HDB’s website as it takes about three months for a resale
