There has been 42 Housing Development Board (HDB) Resale Flats that broke the 1-million-dollar mark this year, compared to 19 units in 2016.
The most expensive HDB resale flat was a five-room unit at the iconic Pinnacle @ Duxton, at a transacted price of $1.14 million. The transacted price works out to be $988 per sq ft (psf) similar to that of a private property. The last record-high was $981 psf in 2016.
Coming in second is a five-room HDB resale flat at Bishan’s Natura Loft. The unit was sold in February 2017 for the record-breaking $1.18 million, translating to $913 psf.
In Central Region, the Top 3 most expensive HDB Resale flats were transacted in Mei Ling Street, The Pinnacle @ Duxton, and The Peak @ Toa Payoh.
In North-East Region, the most expensive flats were from Natura Loft, 186 Bishan Street 13 and 190 Bishan Street 13.
In the West Region, more expensive flats were transacted in Toh Yi Drive and Block 441A Clementi Avenue 3.
Natura Loft has the largest number of HDB flats resold above $1 million with 12 units, followed closely by the Pinnacle @ Duxton with 10 units. Most units have central locations and are located within mature estates with easy access to schools, eateries and other amenities.
Design, Build and Sell Scheme (DBSS) flats such as those from Natura Loft, The Peak @ Toa Payoh or City View @ Boon Keng can fetch a premium as compared to traditional HDB flats.
DBSS was meant to provide condominium-standard homes and thus buyers are willing to fork out more for more luxurious flats.
Natura Loft attractive points lie in panoramic view, central location and spaciousness. Close proximity to the prestigious Catholic High School which has a primary division also adds to the lofty sale price. Originally, a five-room unit was sold via balloting from $590,000 to $739,000.
The Pinnacle @ Duxton, while not being under DBSS, is a luxury project located at the heart of Tanjong Pagar. With such central location, there is no surprise that it constantly shatters the 1-million-dollar record. Last year, a flat was sold for $1.12 million, breaking HDB sale record in 2016. A five-room flat were priced originally from $345,100 to $439,400.
While certain types of public housing, like those built under DBSS or upmarket projects such as Pinnacle @ Duxton have regularly fetched high prices, some don’t fall under such categories.
The flat at Block 18D Holland Drive was purchased at $1.03 million by a first-time-buyer, young couple in their 20s drawn by its “million dollar view”. The buyer was also attracted by the close proximity to eateries and Holland Village MRT.
Unlike condominium, these HDB flats have no common facilities such as swimming pools, tennis courts, gyms, etc. The most influential factor in buyers’ decision-making is thus locational attributes.
Transacted at $1.16million, the HDB resale at 148 Mei Ling Street offers unobstructed view and easy access to Queenstown MRT, sports facilities, wet markets and hawker centres.
Similarly, Toh Yi Drive also provides a very favourable location for the residents at Bukit Timah. The flat is located close to numerous educational institutions, dining and shopping options.
However, such million-dollar qualities are rare, and such high-price transactions are certainly not representative of the HDB resale market.
The most expensive HDB resale flat was a five-room unit at the iconic Pinnacle @ Duxton, at a transacted price of $1.14 million. The transacted price works out to be $988 per sq ft (psf) similar to that of a private property. The last record-high was $981 psf in 2016.
Coming in second is a five-room HDB resale flat at Bishan’s Natura Loft. The unit was sold in February 2017 for the record-breaking $1.18 million, translating to $913 psf.
In Central Region, the Top 3 most expensive HDB Resale flats were transacted in Mei Ling Street, The Pinnacle @ Duxton, and The Peak @ Toa Payoh.
In North-East Region, the most expensive flats were from Natura Loft, 186 Bishan Street 13 and 190 Bishan Street 13.
In the West Region, more expensive flats were transacted in Toh Yi Drive and Block 441A Clementi Avenue 3.
Natura Loft has the largest number of HDB flats resold above $1 million with 12 units, followed closely by the Pinnacle @ Duxton with 10 units. Most units have central locations and are located within mature estates with easy access to schools, eateries and other amenities.
Design, Build and Sell Scheme (DBSS) flats such as those from Natura Loft, The Peak @ Toa Payoh or City View @ Boon Keng can fetch a premium as compared to traditional HDB flats.
DBSS was meant to provide condominium-standard homes and thus buyers are willing to fork out more for more luxurious flats.
Natura Loft attractive points lie in panoramic view, central location and spaciousness. Close proximity to the prestigious Catholic High School which has a primary division also adds to the lofty sale price. Originally, a five-room unit was sold via balloting from $590,000 to $739,000.
The Pinnacle @ Duxton, while not being under DBSS, is a luxury project located at the heart of Tanjong Pagar. With such central location, there is no surprise that it constantly shatters the 1-million-dollar record. Last year, a flat was sold for $1.12 million, breaking HDB sale record in 2016. A five-room flat were priced originally from $345,100 to $439,400.
While certain types of public housing, like those built under DBSS or upmarket projects such as Pinnacle @ Duxton have regularly fetched high prices, some don’t fall under such categories.
The flat at Block 18D Holland Drive was purchased at $1.03 million by a first-time-buyer, young couple in their 20s drawn by its “million dollar view”. The buyer was also attracted by the close proximity to eateries and Holland Village MRT.
Unlike condominium, these HDB flats have no common facilities such as swimming pools, tennis courts, gyms, etc. The most influential factor in buyers’ decision-making is thus locational attributes.
Transacted at $1.16million, the HDB resale at 148 Mei Ling Street offers unobstructed view and easy access to Queenstown MRT, sports facilities, wet markets and hawker centres.
Similarly, Toh Yi Drive also provides a very favourable location for the residents at Bukit Timah. The flat is located close to numerous educational institutions, dining and shopping options.
However, such million-dollar qualities are rare, and such high-price transactions are certainly not representative of the HDB resale market.