Singapore, 09 Mar 2021 Million-dollar price tags on a record number of Singapore's public housing sales are a sign the city-state is joining the frenzy gripping property markets from Hong Kong to Toronto.
Twenty-three resold government-subsidized flats were purchased for at least S$1 million ($743,000) in February, a new monthly record, according to data from real estate portal SRX Property. Thirty-six sales in that price bracket were concluded in the first two months of the year, a 350% increase from a year earlier.
Prices of public housing form the basic foundation for other types of property, said Christine Sun, a senior vice president of research and analytics at OrangeTee & Tie.