An Executive flat in Yishun has joined the million-dollar club when it was sold for S$1.038 million in February 2022. This marks a first in the estate, as well as the first time in four years for a flat in a non-mature estate to be sold for at least a million dollars.
The first resale flat in a non-mature estate that was sold for S$1 million was an executive maisonette in Hougang back in January 2018.
According to the 99.co and SRX report on the HDB resale market in February, the Yishun flat spans 2,013 sq ft, translating to a price psf of S$516.
Located at 652 Yishun Avenue 4, the flat is just across the street from Yishun Park, Yishun Pond and Khoo Teck Puat Hospital.
29 flats sold for at least a million dollars last month
In total, 29 flats were sold for at least a million dollars in February 2022. This is slightly higher than in January when 27 units were sold.
The estate with the highest number of million-dollar flats sold was Central Area, with seven of such flats sold last month. Pinnacle @ Duxton, which is located in the estate, has generally been clocking the highest number of million-dollar flats sold, with the estate recording 10 of such transactions back in December 2021.
This is followed by Queenstown with four of such flats sold last month, with Toa Payoh, Kallang/Whampoa, Clementi and Bishan each recording three of such sales.
Still, at 1.5%, these flats form a small minority of the total number of flats sold last month.
22% decrease in sales volume last month
1,904 flats were sold in February 2022, which is a 22% decrease from January’s transaction volume. This may be due to the Chinese New Year period when sales would traditionally be lower, as well as the increasing resale flat prices.
Month-on-month, prices have increased by 0.6%, marking the 20th straight month of rising flat prices.
Would you pay a S$1M for a flat in Yishun? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, 99.co recommends Missed out on the BTO? Look out for HDB’s Open Booking of Flats next week and What you need to know to get the most out of CPF’s Housing Grants.
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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.
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Of cos not. Buying a hdb flat over a million when is it not even mine when comes to 99 years lease. I rather buy from malaysia property comes with garden at least can park 2 cars for landed house. For condo, comes with facilities like swimming pool, security, bbq,gym etc. In singapore It’s not worth to over spend money for such a house
No, the Hdb’s resale market is becoming like Chicago marketplace. I wonder how many of these Millions $$$ flats were actually transacted. Should provide the ultimate transacted property than sales figures. All will live to regrets until have lots of spare cash to throw. Let’s see 3 to 5years from now, who’s crying when everything turns negatives and down spiral. Singaporean never never learned their lessions
Overpriced hdb vs cheap condo tho smaller I rather go for latter anytime…. ?
I’m agree in Chee Seng comments
It is matter of time that ppl will pay a million dollar for a 99-yr HDB flat even in a suburb. It is about supply and demand and our populace getting richer. It is silly to compare just airspace and landspace. Location is an important factor. A million SGD buys you nothing in Hong Kong. I can build a fantastic mansion in a Sahara desert, even it is freehold, nobody will buy, believe me. Pls don’t condemn those buyers paying his million for it. It is because you feel it is not worth it as you are a poor man. Whereas he has a few millions to throw, why not? Same envy of someone driving a Lambo!
For an older n non matured hdb estate not in prime housing area it’s foolish to pay $1m for it as it’s over price n surely will loose money after 5 years MOP to sell the resale hdb executive flat on open market which may not fetch good price to make some profit from buying it in the first place.
The country is rich but the ppl are poor just to show the world but the ppl live like slave to pay for expenvise hbd house
Thing has changed
Life has changed.
Price has changed.
Nothing for certain will not change.
Yishun has changed.
So, we must change to see the change.
Ok. Those with abundance of money sure pay for this price. For me 1m is a big money. Invest in stocks much more better and collect dividends anually. To each his own. In S’pore no point of buying expensive HDB flat with lease of 99 years.