By Lip Kwok Wai and Leong Wai Kit | POSTED: 18 Jul 2013 9:29 PM | CNA

SINGAPORE

Expect more million-dollar transactions of Housing and Urban Development Company (HUDC) units.

This was what one expert — Nicholas Mak, the executive director for research and consultancy at SLP International Property Consultants — said about the units, which were built in the 1970s.

One unit at Serangoon North was sold for S$1.14 million, which is the highest this year.

Last year, another unit at Shunfu was sold for S$1.33 million.

There are currently four HUDC estates pending privatisation.

But 23 units from those four estates have already been sold — 56 per cent of which were sold for more than S$1 million.

Analysts said demand for HUDC units remain high.

Mr Mak said: “If you were to look at the HUDC units, you’ll find that they have bigger living rooms, as well as the size of each bedroom is also quite generous.

“Hence, it does attract certain buyers.”

– CNA/nd

http://www.channelnewsasia.com/news/business/singapore/more-million-dollar-hudc/748806.html