The demand for million-dollar Housing Board apartments has increased steadily in Singapore, from two sales in 2012 to 87 in the first five months of 2021.
Even in the midst of the Covid-19 epidemic, certain HDB resale properties continue to attract a premium. The most expensive apartment sold here to yet is a five-room HDB flat The Pinnacle At Duxton Blk 1B, which sold for $1.258 million in September 2020. A five-room unit at Natura Loft in Bishan Street 24 sold for $1.25 million in April, making it the second-most expensive apartment ever sold in Singapore.
This five-room apartment on the 42nd level of The Pinnacle At Duxton sold for $1.232 million in March 2020, making it the 4th highest resale flat transaction ever recorded.
While The Pinnacle At Duxton is perhaps the “poster boy” for these multimillion-dollar deals, they are not limited to the downtown region.
Where are the Million Dollars HDB located?
According to official HDB statistics, half of Singapore’s 24 HDB towns contain million-dollar residences.
An executive maisonette at Block 851 Hougang Central, which sold for $1 million in January 2018, is one of them. It is the first apartment in a non-mature estate that has ever sold for $1 million.
The remaining 388 apartments are distributed throughout 11 established estates.
What made these apartments so appealing to potential buyers? Large flats on high levels with unobstructed views, in a handy central location, and no more than 20 years old are the norm.
However, not everyone fits within this category. According to the data, a handful of older apartments or those on lower levels were sold for a premium since they had desired features including a superior location and a larger-than-average size.