Singapore, 08 Jul 2021 SINGAPORE — The number of Housing and Development Board (HDB) resale flats changing hands for above S$1 million in the first half of this year jumped to 106, more than four times the total for the same period in 2020. Nineteen of these sales were in June alone.
Flash data from real estate portal SRX released on Thursday (July 8) showed that the highest price for a resale flat sold last month was S$1,268,000 for a three-room terrace unit along Jalan Bahagia near Whampoa estate.
Ms Christine Sun, senior vice-president of research and analytics of property agency OrangeTe, said that the increased demand for flats selling above S$1 million could be driven by couples or singles in their 30s to 50s who work as top executives in private firms or the public sector.
Ms Sun of OrangeTee observed that while HDB resale volume rebounded after the heightened alert measures were partially eased in mid-June, last month’s sales total was still below the 12-month average of 2,377 units from June 2020 to May 2021.