by OrangeTee & Tie Pte Ltd.

82 million-dollar HDB resale flats sold last year in new high

SRX HDB Resale Data

SRX HDB Resale Data

SG, 08 Jan 2021

The number of Housing Board (HDB) resale flats sold for at least $1 million hit a new high last year amid a strong showing by the market despite the Covid-19 pandemic, according to flash data from real estate portal SRX released yesterday. There were 82 million-dollar flats transacted last year, compared with 64 for 2019, after last month saw 10 more of such transactions. They make up about 0.35 per cent of the total number of HDB resale flats sold last year. Resale prices also rose for the sixth consecutive month last month, bringing the total price rise for last year to 6.4 per cent, much more than the 0.3 per cent increase in 2019.

OrangeTee & Tie head of research and consultancy Christine Sun said that the unexpected housing boom is also likely to be "fuelled by the record-low mortgage rates, huge fiscal stimulus programmes designed to fend off an economic disaster and the slew of policy changes made to improve HDB market conditions over the past two years".

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