21 Nov '11, 10am

Antique items aren't the only value-appreciating assets in old homes. The homes themselves are too!

The days of good bargains in Tiong Bahru are over, as a 1,000 sq ft pre-war flat that cost around S$680,000 three years ago is now priced at around S$1 million. The significant price increase is primarily attributed to the transformation of the once-sleepy neighbourhood into a popular residential and commercial enclave. While the area comprises a combination of public and private housing, there are 27 blocks of private pre-war units with conservation status. Unlike the neighbouring public flats developed by the Singapore Improvement Trust, owners of these pre-war units are not subject to HDB eligibility rules. With a remaining lease of less than 60 years, most of the pre-war homes are situated in two- to five-storey blocks. Although these flats do not come with lifts or modern facilities like pools, gyms or security guards, prospective tenants, owners and investors are not...

Full article: http://sg.news.yahoo.com/pre-war-flats-tiong-bahru-now-co...

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