HDB ethnic quota: Tough sell for owners of minority race

Smaller buyer pool leaves some with below-average resale prices

Mr R. Sivanandam , 72, is asking for $720,000 for a five-room flat in Bishan Street 13, a good $50,000 below the average resale transaction price of five-room units in his block over the past year.
Mr R. Sivanandam , 72, is asking for $720,000 for a five-room flat in Bishan Street 13, a good $50,000 below the average resale transaction price of five-room units in his block over the past year.ST PHOTO: ALPHONSUS CHERN

When account director Vijeshwariee Yoganathanput her five-room flat in Redhill Road up for sale in October last year, she thought she would have no problem selling it within a few months, given that it was opposite an MRT station and on the 26th storey.

However, after 10 fruitless months, only one offer came in.

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A version of this article appeared in the print edition of The Sunday Times on October 07, 2018, with the headline 'HDB ethnic quota: Tough sell for owners of minority race'. Subscribe