Million-dollar HDB flats in S’pore: Where are these units located?
Since 2012, more than 500 resale flats have been sold for at least $1 million. Just where are these units located and why were they able to command such high prices?
UPDATED: Aug 17, 2021 PUBLISHED: JUNE 14, 2021
Some HDB resale flats continue to command a premium - even amid the Covid-19 pandemic.
As at Oct 31, 192 HDB resale flats have sold for at least $1 million this year, the highest number in a year on record. Besides Bishan, the central area, Queenstown and Toa Payoh typically see the most of such deals.
Of these, 18 were transacted in October alone, including a five-room Housing Board (HDB) flat in Bishan. It changed hands for an all-time record $1.36 million three days after it was put up for sale.
Among the main draws of the unit at Natura Loft are its unblocked city view and central location. PHOTO: Elson Wang
This comes days after the announcement of a new prime location public housing model, which imposes stricter selling and buying conditions on future HDB flats in prime areas to keep them affordable and inclusive.
"If left to the forces of the private market, it is likely that these attractive locations would likely become very expensive and exclusive locations, with housing that only the well-to-do can afford," said National Development Minister Desmond Lee on Oct 26.
In June, this two-storey landed corner terraced unit at 39 Jalan Bahagia sold for $1.268 million.
Where are these flats located?
Half of Singapore’s 24 HDB towns have million-dollar flats, official HDB data shows.
Among them is a 177 sq m executive maisonette in Block 851 Hougang Central that was sold for $1 million in January 2018. To date, it remains the only unit in a non-mature estate to hit the $1 million mark.
The remaining units are spread across 11 mature estates.
What do these million-dollar flats have in common?
Just what made these flats so attractive to their buyers? Typically, they are large units on high floors with unblocked views, in a convenient central location and not more than 20 years old.
But not all fit this mould. Data shows that a number of older units or those on lower floors were transacted at high prices because they possessed desirable traits, such as prime location and larger-than-usual size.
For instance, the 210 sq m unit at Block 39 Jalan Bahagia that changed hands for $1.268 million is a two-storey, landed corner terraced unit - which are rare attributes in public housing.