What’s the most expensive HDB flat ever sold in Singapore?
It was a 4-room jumbo flat sold in June.
A total of 105 resale flats were sold for at least a million dollars in Singapore in Q2, more than the 103 transactions in Q1.
According to OrangeTee, the priciest flat ever sold was a four-room jumbo flat at 50 Moh Guan Terrace transacted in June for S$1.5 million. The fourth-floor unit occupies a strata area of 176 sqm with a 99-year lease from 1973. It is also attractively located at the city fringe and surrounded by amenities.
The next priciest flat was a DBSS unit in Toa Payoh transacted for S$1.42 million in June this year. Three flats were sold for S$1.4 million last quarter at Pinnacle@Duxton and Bishan.
Here’s more from OrangeTee:
The total resale volume dipped by 4.6 per cent from 6,720 units in Q2 2022 (up to 29 June) to 6,409 units in Q2 2023 (up to 29 June), based on flash estimates released by HDB. Demand is considered resilient given that cooling measures were implemented in September 2022. Demand could have been sustained by more grants given to first-timers purchasing resale flats.
In terms of proportion of sales, 4-room flats rose from 42.6 per cent in Q1 2023 to 45.7 per cent in Q2 2023, while 5-room flats increased from 22.6 per cent to 23.4 per cent over the same period, according to data.gov.sg. Private property down graders might have driven demand for 4-room flats higher as buyers above 55 years old are exempted from the 15-month wait-out period if they were to buy 4-room or smaller flats. HDB upgraders priced out of the private market may have bought bigger resale flats.
The most popular towns were Punggol (549 units), Woodlands (541 units), Sengkang (519 units), Yishun (451 units), and Bukit Batok (380 units) in Q2 2023. The average price of resale flats in Punggol was S$591,905, Woodlands at S$530,841, Sengkang at S$587,012, Yishun at S$495,319, and Bukit Batok at S$575,541.