Singapore, 28 Apr 2021 In the first quarter, from January to March this year, 23 flats in non-mature Housing and Development Board (HDB) estates transacted for at least S$800,000, a record number of such units sold above that level in a quarter, a recent property report found.
This made up nearly 10 per cent of the 245 flats in non-mature estates that have sold above S$800,000 since 1990, achieved in a single quarter.
If this trend continues unhindered, analysts told TODAY an HDB resale flat in Punggol could soon fetch S$1 million.
Said Ms Christine Sun, senior vice president of research and analytics at realtor OrangeTee & Tie: “Barring further external shocks, an influx of flat supply or cooling measures, we may see more flats inching closer to the S$1 million mark (in non-mature estates) ... at the current rate of price increase.”