First Million-Dollar HDB Flats Were Sold in Bukit Batok & Marine Parade

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July saw two more HDB flats changing hands for the cost of over a million Singapore dollars.

According to the monthly report from real estate technology company 99.Co, the flats sold were the firsts in the Bukit Batok and Marine Parade estates.

Sold for $1.005 million, the Bukit Batok property that broke the record was a 1,776 sq ft masionette located at Bukit Batok Street 25.

Following the sale of a flat in Hougang in 2018, one in Yishun in February this year, and another in Woodlands just two months ago, this marks the fourth non-mature estate to be part of the million-dollar club.

The second HDB is a 47-year-old HDB flat located in Marine Parade, which was sold for $1.01 million. It was a 5-room unit, spanning 1,356 sq ft.

New Record for Most Expensive HDB Resale Flat Sold

As with previous months, the most expensive million-dollar flats sold for the month mostly resided in mature estates. The top five million-dollar resale flats were from the Queenstown, Toa Payoh, and Bishan districts.

This month, however, saw a new record being broken, as a 5-room HDB loft apartment, with a sq ft of 1,313 located at [email protected] in the Queenstown area was sold for S$1.418 million, making it the most expensive HDB resale flat ever sold.

The previous record was held by a 5-room flat at City Vue @ Henderson back in April this year, costing the new owners $1.4 million.

For non-mature estates, the highest transacted price of all time came from the Hougang Central region, where a $1.072 million Executive Apartment unit was sold.

Increasing Trend of HDB resale prices

Just as the cost of owning a car in Singapore has been increasing, the property market has been experiencing the same thing for awhile now. Moreover, the upward trend seems that it will not be abating any time soon.

99.Co reported that HDB resale prices rise for the 25th straight month, climbing by 0.7% in July 2022. Year-on-year, the overall price increase of HDB resale flats stands at 11.6%.

In terms of room types, majority of the resale volume, 42%, are 4-room HDB flats. This is followed by 5-room flats, at 24.8%, and 3-Room flats, at 23.5%.

Image: 99.co

July sales were also fairly split between non-mature and mature estates, at 56.7% and 43.3% respectively.

Ten million-dollar flats were sold in Bishan, followed by five units in Ang Mo Kio, and four in Queenstown.

At this rate, every estate will have its own million-dollar club member pretty soon.

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