More Housing and Development Board (HDB) flats are being sold over the S$1 million mark; the latest was a ground floor unit in Yishun.
Despite fewer units sold in June 2022, prices for HDB resale flats continued to rise for the 24th consecutive month.
A 1,765 sq ft executive apartment HDB flat in Block 608 Yishun Street 61 was recently sold for S$1 million.
There were 31 HDB resale transactions for at least S$1 million each last month, reported The Straits Times, indicating a rise of 1.2 per cent on resale flat prices.
Prices increased for all flat types in both mature and non-mature estates.
“A flat’s generous size and convenient location, panoramic or pleasing view from the unit, and the buyer’s lifestyle preference continue to be key factors driving million-dollar sales transactions,” said PropNex Realty head of research and content Wong Siew Ying to ST.
She also expects HDB resale prices to increase further by seven to nine per cent for the rest of the year.
An executive maisonette at Pasir Ris Street 13 and two executive flats in Woodlands were also sold for over a million dollars each in May, marking a first for the two estates.
“We believe the rise in price and decrease in transactions suggest that the supply in the market is drying up,”” said property site 99.co last month.
Responding to the latest resale transaction, netizens wondered how a ground-floor unit snatched such a price.
“This is where I walk every day. My childhood for 20 goddamn years is inside this one picture. A lot of smell used to come from those ground-floor houses. Now it’s 1 million?” asked Facebook user James Lee.
“$1m for a full sea view is still acceptable. But $1m for a unit in Yishun on a ground floor?” added another netizen.
“I still don’t understand why that unit cost 1 million. It’sIt’s in front of the bus stop. Walk 5 min to Khatib Mrt and 5 min to swimming pool, but it’s a very old unit,” said Facebook user Aileen Tan.
On the other hand, Facebook user Alan Lee pointed out that a ground-floor unit would be a better choice for elderly residents. “On ground floor, that’s good for older folks, no stairs to climb. One old rich couple can afford to live there./TISG