31 HDB resale flats were transacted for at least a million dollars last month, according to the 99.co and SRX Flash Report on the HDB resale market in June 2022.
This brings the total number of million-dollar flats sold in the first half of 2022 to 166, a 57% increase from the 106 million-dollar flats sold in the same period last year.
June’s number also marks the second-highest number of million-dollar flats transacted in a month, surpassing May’s record of 30. The current all-time record was in December 2021 with 36 of such flats sold.
Nevertheless, these sales represent a tiny percentage of the total number of resale flats at 1.4%, out of the 2,139 resale flats sold last month.
Third million-dollar flat sold in Yishun
A 1,765 sq ft executive apartment at Yishun Street 61 was sold for S$1m last month, becoming the third million-dollar HDB resale flat in Yishun. With the flat completed in 1987, the flat has about 64 years remaining lease.
This transaction makes Yishun become the non-mature estate with the highest number of million-dollar flats sold at three. Other non-mature estates that have recorded such sales so far are Woodlands with two units sold in May, and Hougang with one unit sold back in 2018.
More 4-room flats breaching the million-dollar mark
Last month also saw eight 4-room resale flats sold for at least a million dollars. In comparison, there were only two such transactions in May.
This is a trend that we have previously written about last month. While 5-room flats and executive apartments generally make up the million-dollar-flat club, we have been seeing more 4-room flats breaching the million-dollar mark.
HDB developments that have recorded such sales include Pinnacle@Duxton and Tiong Bahru View.
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1.2% price increase in June
Month-on-month, HDB resale prices have increased by 1.2%, with 5-room flats recording the highest increase at 1.4%. Meanwhile, prices of 3-room, 4-room and executive apartments have risen by 1.0% each.
Year-on-year, the price increase is 11.4%, with 3-room flats recording the highest growth at 12.1%. This is followed by 5-room flats at 12.0%, 4-room flats at 11.7% and executive apartments at 11.6%.
Resale volume last month was down by 0.85%, with 2,139 flats sold. Breaking down by flat type, the majority of flats sold was 4-room flats at 41.8%, followed by 5-room flats at 26.9%, 3-room flats at 22.2% and executive apartments at 7.3%.
What do you think of the increasing number of 4-room resale flats breaching the million-dollar mark?
If you found this article helpful, 99.co recommends 47-year-old Marine Parade flat sold for S$1.01m and What S$500,000 can get you in the Top 5 HDB towns with the highest average price psf appreciation.
About Virginia Tanggono
Virginia covers the property news in Singapore, from record sales to profile stories on home ownership. In her free time, she occasionally searches for spoilers of movies and TV shows.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
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