The HDB flats sold reached as high as 52 million-dollar in total just for this year alone.
A terrace house of Housing and Development Board right in Jalan Bahagia next to Whampoa was successfully sold with a competitive price of $1.185 million last September, setting a record of the most expensive HDB unit ever sold, broadcasted Channel NewsAsia recounting report from Orange Tee report.
The past record carried a copious five-room Design, Build and Sell Scheme or DBSS unit along Bishan, which was successfully sold for a reasonable price of $1.18 million, February 2017.
A DBSS flat of five-room stood along Lorong 1A Toa Payoh ranks the top 3 most pricey HDB flat sold for only $1.16 million.
The famous Jalan Bahagia unit of 273 sq m has only 52 years more for its 99-year lease, which began way back 1972.
During the first 3 months of 2018, approximately about 52 million-dollar HDB units were sold, and at least 40 were under 20 years already.
Orange Tee revealed that resale deals were still trending although the HDB prices were dropping down.
HDB data divulged a figure of applications on resale received in the first three months of 2018 stretches out a five -year maximum at 17,462.
The total number of HDB flats resold for more or less $700,000 also strike a six-year high in the same period, with transactions that reach to 1,438.
Punggol presented the huge increase over applications in resale, jumping nearly 334.4 percent during the first three months of 2018 contrary to five years ago. The second biggest increase was noticed in Sengkang hitting at 58.3 percent in the same year.
Orange Tee credited the increase to the growing number of BTO or Build – To- Order units around the areas that meet the five year Minimum Occupation Period (MOP).
The building of various condominiums in the said areas might have ignited the HDB holders to upgrade.
Moving forward, Orange Tee foresees a number of resale deals of HDB to hit for this year at least 23,000 units and 24,000 units for succeeding year.
It further added, ” The BTO units reaching MOP for 2019 plus the subsequent ready for resale are the seen possible cause for the increase. The demand might be sustained by the good economy and an active job market.