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Meet the agent behind Punggol’s first million-dollar HDB resale flat

To improve its chances of fetching an attractive price on the market, she even engaged an interior decorator to make the loft unit stand out

The first million-dollar HDB resale flat in Punggol that was recently sold by Ms Lim. PHOTO: NOW HOMES

Veteran real estate agent Yuna Lim from Singapore Estate Agency (SEA) recently sold a Housing Board five-room loft unit on the 16th floor for $1.198 million with cash over valuation close to $200,000. 

It is the first million-dollar transaction for a HDB resale unit in the Punggol area, a rare feat considering most million-dollar HDB flats are located in mature estates like Bishan, Ang Mo Kio and Queenstown.

The “hands-on” agent, who has more than 17 years of experience in real estate transactions, even engaged an interior decorator to do the unit up before putting it on the market, a task not many agents would take on, she says.

“It is a bit of a hassle to do up the unit before holding viewings. But I am very involved in the selling process and I wanted to make the unit stand out,” says Ms Lim, who adds that she oversaw the entire decorating process from start to finish.

Beautifying the unit involved bringing in a new sofa and dining set, some wall touch ups, and placing home accessories to give it a homely feel.

The extra efforts paid off – Ms Lim sold the unit two days after it was first open for viewing, a feat she attributes to her vast experience and sharp negotiation skills.

She credits her mentor and boss Calvin See, chief executive officer of SEA, who taught her the ropes of brokering real estate since she joined the company in 2013. 

In 2018, she founded Now Homes to establish an online presence and to ply her trade through social media channels.

Ms Lim, who has 17 years of experience in real estate transactions, founded Now Homes to establish an online presence. PHOTO: NOW HOMES

The million-dollar HDB club

Ms Lim’s million-dollar deal was a 10-year-old unit in Punggol Sapphire, a HDB complex near Punggol Field. Occupying 1,603 sq ft on the top floor, the spacious unit has three bedrooms plus a study room. Apart from the rare loft layout, another selling point are the floor to ceiling windows that flood the home in natural light during the day. 

“There are a total of 23 five-room loft units in Punggol Sapphire and 14 five-room loft units in Treelodge@Punggol, which makes it a rare find,” she continues.

Treelodge@Punggol, also a five- room loft unit in Punggol, came close to making the million-dollar mark, selling for $970,000 in December 2021.

Ms Lim notes that while the high asking price may raise eyebrows, these million dollar flats make up a small portion of overall HDB transactions.

HDB sales volumes looks set to simmer

The short supply of homes and construction delays of Build-To-Order flats due to the pandemic have pushed buyers to look at the resale market, Ms Lim explains. This in turn drives up the demand for resale flats. 

The Total Debt Servicing Ratio, tightened in December 2021 from 43 per cent to 55 per cent, have not dampened demand for good homes either.

“People are also more likely to fork out more money for homes in a fantastic location or a rare property,” she adds.

News of HDB flats transacting for $1 million have made headlines of late. There were 33 such million-dollar sales in August, while prices of resale HDB flats also rose for the 26th straight month.

These relatively new flats are always in demand, due to the long duration left on their 99-year lease and potential cost savings on HDB renovations, says Ms Lim, who adds that executive apartments, jumbo flats and executive maisonettes are just as sought after as HDB has discontinued these types of flat layouts.  

Finding the right property agent

Ms Lim has achieved first place in SEA’s Top Producer Awards category for nine years straight, breaking her sales record year after year.

Her client-centric approach has led to many word-of-mouth referrals, which she attributes to her success.

She finds the utmost satisfaction in helping her clients get their dream homes and draw out their future retirement plans with real estate investments.

“I feel so thankful that my clients go through the trouble of referring me to their friends or family. It really makes my day.” she says.

Find out more about buying or selling a property at Now Homes.

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