Actress Hong Ling snags freehold Balestier condo in stunning fire sale
Not only did Mediacorp actress Hong Ling buy her very own bachelorette pad recently, the 26-year-old also snagged a cut-price deal in a fire sale that would make every Singaporean envious.
According to sources close to the actress, the price she paid for her 517 square feet, one-bedroom + study unit at Balestier was $680,000. This translates to $1,316 per square foot (psf).
Comparing similar units in the condo, which transacted at around the $775k ($1,500 psf) mark, it can be said that Hong Ling managed to secure her resale unit at a whopping 12% discount below the market rate.
Seller’s loss, Hong Ling’s gain
Fire sales are hard to come by, unless you know where to look. Hong Ling’s unit is part of a fairly new, 52-unit freehold development that was completed in 2016. 99.co understands that the seller who Hong Ling had bought the unit from was forced to offload the unit in a bank sale. That seller had originally bought the unit during the project’s launch in 2013 for just under $750,000. A transaction price of $680,000 meant a loss of about 9.5%.
It’s not just the price that proved appealing. The actress told 8days.sg in an interview that she loves the neighbourhood of Balestier, which is known for its old shophouses and the abundance of local food, cafes and durians.
She also added that the location is more convenient for her to get to work, compared to her previous home in northern Singapore. (Balestier is almost right smack in the middle of the island.)
Balestier is also known for being a centrally-located yet affordable place to buy a condo, many of which are freehold in tenure. Check out these listed homes below or keep scrolling for the article!
Condos in Balestier
A rare find in Balestier
The unit that Hong Ling picked has a few unique characteristics. Firstly, the unit is has relatively unblocked views on the two sides that it opens up to, which is a rare find in the dense residential-commercial neighbourhood of Balestier.
What’s more important about her unit is that there are no other homes directly facing her apartment, as privacy is one of the most important considerations of a celebrity seeking a home.
This means no prying eyes even when she is on the balcony, which happens to be her favourite aspect of the unit.”What attracted me the most [about the unit] is the balcony where I can sit outside and read books,” she told 8days.sg.
Hong Ling also revealed that she will be converting her apartment’s study room into the walk-in wardrobe she always wanted to have.
The condo itself also boasts a decent collection of facilities for a boutique development, including a gym, ourdoor barbecue, jacuzzi and this swimming pool:
“The best gift ever”: Hong Ling
Hong Ling revealed that, prior to purchasing the condo, she had been living with her family in a five-room HDB, where she shared a room with one of her two siblings.
After collecting the keys to her very own home, Hong Ling calls it the best gift she’s ever bought for herself.
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A post shared by Hong Ling 洪凌 (@honglingg_) on
“When I had just entered the industry and took my first endorsement deal, my dream was to be able to buy my own home when I turn 30. Who knew I’d be able to achieve it? I’m really grateful and happy.” Hong Ling wrote in Chinese on her Instagram post, adding that she had financed the purchase on her own, helped by her product endorsement deals.
Hong Ling entered the entertainment industry in 2014 after finishing as a finalist on Channel U’s campus talent search programme “Hey Gorgeous”. On Mediacorp’s Channel 8, she acted in a number of dramas including “You Can Be an Angel Too” and “118”.
Seeing the apartment, Hong Ling’s boyfriend, fellow Mediacorp thespian Nick Teo, confessed to feeling ashamed of himself at not being able to afford his own home. Perhaps he just needs to find another good bank sale lobang!
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This little girl ( always a little girl to me) just bought her own house at the age of 26! 25 if you want to know the real age she would have bought it. Despite being so young, she is really mature, discipline and driven in her goal – buying a place of her own. She aim to have her own place at the age of 30 yet she did it when she is 26. And this, makes me very ashame of myself. I always have big dreams and goals but it’s always “too hard for me to acheive, doubting about myself, complaining about how unfair it is to me, blah blah blah” Well, this serves as a very good wake up call to me. She inspire me greatly and even some of my friends who knew about this. She had her eyes on her goal and believed she could, so she did, all by herself. I am super proud of her! Sometimes, you may think the path you are walking right now isn’t the one you planned. However, if your goals are set and you know it in your heart that you want it so much, fear not, you are moving the right way! Let your subconscious mind do the rest!
A post shared by Nick Teo 张鈞淯 (Zhang Jūn Yù) (@nickk_teo) on
Is Hong Ling’s new home an unbeatable deal? Share your views in the comments below!
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