“Many friends and relatives believed that we overpaid for our apartment.”


“The decision to purchase an apartment came about after the birth of our first child. We needed the living space in order to properly raise a family, so we began searching and ultimately decided on our current home for several reasons.

The location was desirable. It’s fairly central, roughly 15 minutes to the city by car or public transport. The block within close walking distance to the nearest train station and bus stop, making travelling very convenient.

The estate is surrounded by numerous stores and other useful amenities. All basic conveniences such as a supermarket, postoffice, eateries, laundry, clinic, hardware store etc are just across the road.

The size of the apartment was adequate for our needs at 125sqm (1,345 sq ft) for a 5-room government housing flat (HDB). Most 5-room flats of the same model average between 110-120sqm (1,184 – 1,292 sq ft). It is located in Ghim Moh, near my family. A housing subsidy grant of up to S$40K is provided for resale flats purchased near parents. It also allows for a HDB loan which has a fixed interest rate over 30 years.

The asking price was reasonable and the final price after bargaining (S$605K) was below valuation, meaning that the entirety of the apartment could be paid with the loan and CPF so no cash payment was required.

The value was likely to rise as a mall and other shophouses were in development at the time of purchase. These have since been completed. The current market value of the apartment is estimated between S$750K – S$780K.

At the time, many of our friends and relatives believed that we overpaid for our apartment especially for a government flat, but as it turns out, paying more for quality was a good investment.”

– Daren – Ghim Moh, Singapore

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