31 HDB resale flats were transacted for at least a million dollars last month, according to the 99.co and SRX Flash Report on the HDB resale market in June 2022.
This brings the total number of million-dollar flats sold in the first half of 2022 to 166, a 57% increase from the 106 million-dollar flats sold in the same period last year.
June’s number also marks the second-highest number of million-dollar flats transacted in a month, surpassing May’s record of 30. The current all-time record was in December 2021 with 36 of such flats sold.
Nevertheless, these sales represent a tiny percentage of the total number of resale flats at 1.4%, out of the 2,139 resale flats sold last month.
Third million-dollar flat sold in Yishun
A 1,765 sq ft executive apartment at Yishun Street 61 was sold for S$1m last month, becoming the third million-dollar HDB resale flat in Yishun. With the flat completed in 1987, the flat has about 64 years remaining lease.
This transaction makes Yishun become the non-mature estate with the highest number of million-dollar flats sold at three. Other non-mature estates that have recorded such sales so far are Woodlands with two units sold in May, and Hougang with one unit sold back in 2018.
More 4-room flats breaching the million-dollar mark
Last month also saw eight 4-room resale flats sold for at least a million dollars. In comparison, there were only two such transactions in May.
This is a trend that we have previously written about last month. While 5-room flats and executive apartments generally make up the million-dollar-flat club, we have been seeing more 4-room flats breaching the million-dollar mark.
HDB developments that have recorded such sales include Pinnacle@Duxton and Tiong Bahru View.
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1.2% price increase in June
Month-on-month, HDB resale prices have increased by 1.2%, with 5-room flats recording the highest increase at 1.4%. Meanwhile, prices of 3-room, 4-room and executive apartments have risen by 1.0% each.
Year-on-year, the price increase is 11.4%, with 3-room flats recording the highest growth at 12.1%. This is followed by 5-room flats at 12.0%, 4-room flats at 11.7% and executive apartments at 11.6%.
Resale volume last month was down by 0.85%, with 2,139 flats sold. Breaking down by flat type, the majority of flats sold was 4-room flats at 41.8%, followed by 5-room flats at 26.9%, 3-room flats at 22.2% and executive apartments at 7.3%.
What do you think of the increasing number of 4-room resale flats breaching the million-dollar mark?
If you found this article helpful, 99.co recommends 47-year-old Marine Parade flat sold for S$1.01m and What S$500,000 can get you in the Top 5 HDB towns with the highest average price psf appreciation.
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