SINGAPORE: The house list of a” giant level” in Sengkang has caught the attention of the authorities, which called the ad misleading.
The Council for Estate Agencies ( CEA ), the government regulator for Singapore’s real estate industry, will investigate the matter- an ad for a ,” jumbo flat” in Sengkang, listed at S$ 2 million ( US$ 1.47 million ).
The Ministry of National Development ( MND), Housing Development Board ( HDB), and CEA addressed the listing of a S$ 2 million 5-room Design, Build and Sell Scheme ( DBSS) HDB flat in Toa Payoh in a joint statement released on May 8 in response to media requests.
SENGKANG “JUMBO Straight”
According to MND, HDB, and CEA, the home listed on the net portal PropertyGuru was not a” giant flat,” but rather two opposite five-room apartments that could be combined into one.
No giant apartments are currently available at the Anchorvale Link listing’s address, Blk 314C.
At S$ 2 million, the list cost for the” giant level” was also well above the current handled prices in the corridor, said the government.  ,  ,
” Over the last six weeks, 5- space flats in the corridor transacted for approximately S$ 580, 000. The S$ 2 million list price is therefore more than$ 800, 000 above the combined price of the two 5- place flats”, said MND, HDB and CEA in their mutual statement.  ,
After CEA pointed out the false ad to the owner’s property agency, the listing’s posting has since been deleted.  ,
“CEA is investigating the matter and will get strong action if any vulnerabilities are established”, said the government.
TOA PAYOH FLAT S$ 2 MILLION LISTING
Additionally, the new list of a DBSS apartment in Toa Payoh was addressed by MND, HDB, and CEA. At S$ 2 million, the list price is , nearly half a million dollars above the highest performed value in the area.
Personal builders construct DBSS apartments on land purchased from HDB. They continue to be categorized as HDB apartments. The plan, which began 2005, has been suspended since 2012.
The three state organizations claimed to be aware that the apartment’s adviser had described it as being of high quality.
However, some home experts consider this impossible, even with the beautiful attributes of the product, the mutual declaration said.  ,
” Currently, there is no Intent to Sell registered with HDB for this particular flat, which means that the potential seller/s of this flat are not able to grant any Option to Purchase ( OTP ) at this stage”, MND, HDB and CEA said.