{"id":74036,"date":"2024-04-04T18:06:03","date_gmt":"2024-04-04T10:06:03","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=74036"},"modified":"2024-04-04T18:06:03","modified_gmt":"2024-04-04T10:06:03","slug":"million-dollar-hdb-resale-trend","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/million-dollar-hdb-resale-trend\/","title":{"rendered":"Navigating the surge of million-dollar HDB resale flats in Singapore"},"content":{"rendered":"
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The HDB resale market in Singapore<\/a> is witnessing an exceptional surge with transactions exceeding one million Singaporean dollars. This trend is rapidly changing the market scenario for buyers and sellers, extending beyond traditional prime areas to encompass all corners of the island.<\/p>\r\n\r\n\r\n\r\n

As a result, it is essential for anyone navigating the HDB resale market to comprehend the underlying dynamics.<\/p>\r\n\r\n\r\n\r\n

Additional reading: <\/strong>Million Dollar HDBs: The new norm for public housing in Singapore?<\/a><\/em><\/p>\r\n\r\n\r\n

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The final frontier: Last towns to join the million-dollar club<\/span><\/h2>\r\n\r\n\r\n\r\n

The HDB towns<\/a> of Jurong West<\/a>, Choa Chu Kang<\/a>, Sembawang<\/a>, and Sengkang<\/a> remain the last strongholds in Singapore to have yet to see a resale transaction exceeding S$1 million.<\/p>\r\n\r\n\r\n\r\n

However, as the current maximum resale prices hover near this mark – Sengkang at S$968,000, Jurong West at S$920,000, Choa Chu Kang at S$900,000, and Sembawang at S$850,000 – it’s not a matter of if these towns will join the million-dollar club, but rather when.<\/p>\r\n\r\n\r\n\r\n

The table below was taken from a recent flash report on the HDB resale market:<\/p>\r\n\r\n\r\n\r\n

\"million<\/a>\r\n
We can see that the four towns we mentioned are not yet on the list.<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n

Industry experts are confident that these areas are poised to make the leap, driven by a combination of factors including advancements in infrastructure and location advantages. This marks a new chapter in the HDB resale market.<\/p>\r\n\r\n\r\n

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The broader trend of high-value HDB resales<\/span><\/h2>\r\n\r\n\r\n\r\n

The recent rise of Toa Payoh as the town with the most million-dollar resale flats exemplifies a noteworthy shift in the current market dynamics.<\/p>\r\n\r\n\r\n\r\n

This trend indicates that high-value HDB resales are no longer limited to central or traditionally prime areas.<\/p>\r\n\r\n\r\n\r\n

Take a look at the resale volume trends in the graph below:<\/p>\r\n\r\n\r\n

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\"million<\/a><\/figure><\/div>\r\n\r\n\r\n

Rather, buyers are increasingly drawn to premium HDB flats in non-central locations due to unit size and layout, unobstructed views, and strategic upgrades.<\/p>\r\n\r\n\r\n\r\n

Additional reading: <\/strong>These 9 neighbourhoods are hotspots for million-dollar HDB flats<\/a><\/em><\/p>\r\n\r\n\r\n

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Insights from the first quarter of 2024<\/span><\/h2>\r\n\r\n\r\n\r\n

A remarkable milestone was achieved in the first quarter of 2024, as a record number of 185 HDB resale flats were sold at a minimum price of S$1 million.<\/p>\r\n\r\n\r\n\r\n