HDB Estates where Resale Flat Prices Exceed $1 Million

Debated in Parliament on 18 Sep 2023.

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As of July 2023, 21 HDB towns and estates, including areas like Ang Mo Kio, Bedok, and Queenstown, have recorded resale flat prices exceeding $1 million, with such transactions representing about 1% of total resale activity in 2021 and 2022.
These high-priced flats are typically located in very favorable areas or have larger floor spaces, indicating that location and size are key factors driving their value.
Between 2021 and the first half of 2023, HDB launched 13 Prime Location Public Housing (PLH) projects in Bukit Merah, Central Area, Kallang Whampoa, and Queenstown, and 36 non-PLH projects across several of the affected towns.
Since 2021, HDB has rolled out about 50,000 flats and aims to reach 100,000 by 2025, with new housing supply distributed across various locations to meet demand.
The government continues to monitor the resale market closely, emphasizing that million-dollar HDB flats remain a small minority despite their visibility in certain prime estates.

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Saktiandi Supaat

Mr Saktiandi Supaat asked the Minister for National Development (a) to date, how many HDB estates have had an HDB flat obtaining a resale price exceeding $1 million; (b) where are these HDB estates located; (c) at the locations of these HDB estates, how many new HDB estates have been launched, announced or planned since 2021 under (i) the Prime Location Public Housing (PLH) model and (ii) non-PLH model respectively.

Desmond Lee

As of 22 July 2023, 21 Housing and Development Board (HDB) towns and estates have resale transactions registered with a resale price of $1 million or more. They are Ang Mo Kio, Bedok, Bishan, Bukit Batok, Bukit Merah, Bukit Timah, Central Area, Clementi, Geylang, Hougang, Jurong East, Kallang Whampoa, Marine Parade, Pasir Ris, Punggol, Queenstown, Serangoon, Tampines, Toa Payoh, Woodlands and Yishun.

HDB resale flats that have been sold for $1 million or more form a very small minority, at around 1% of total resale transactions in 2021 and 2022. These flats tend to be in very favourable locations or come with larger floor areas.

Among these 21 towns and estates, between 2021 and the first half of 2023, HDB offered 13 BTO projects under the Prime Location Public Housing (PLH) model in Bukit Merah, Central Area, Kallang Whampoa and Queenstown. HDB has also launched 36 non-PLH BTO projects across several of the 21 towns and estates.

Since 2021, we have launched about 50,000 flats and are on track to launch 100,000 flats by 2025.

Summary written by AI (learn more)

As of July 2023, 21 HDB towns and estates, including areas like Ang Mo Kio, Bedok, and Queenstown, have recorded resale flat prices exceeding $1 million, with such transactions representing about 1% of total resale activity in 2021 and 2022.
These high-priced flats are typically located in very favorable areas or have larger floor spaces, indicating that location and size are key factors driving their value.
Between 2021 and the first half of 2023, HDB launched 13 Prime Location Public Housing (PLH) projects in Bukit Merah, Central Area, Kallang Whampoa, and Queenstown, and 36 non-PLH projects across several of the affected towns.
Since 2021, HDB has rolled out about 50,000 flats and aims to reach 100,000 by 2025, with new housing supply distributed across various locations to meet demand.
The government continues to monitor the resale market closely, emphasizing that million-dollar HDB flats remain a small minority despite their visibility in certain prime estates.

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HDB Estates where Resale Flat Prices Exceed $1 Million | PAPERCUTS

HDB Estates where Resale Flat Prices Exceed $1 Million

Debated in Parliament on 18 Sep 2023.

Summary written by AI (learn more)

As of July 2023, 21 HDB towns and estates, including areas like Ang Mo Kio, Bedok, and Queenstown, have recorded resale flat prices exceeding $1 million, with such transactions representing about 1% of total resale activity in 2021 and 2022.
These high-priced flats are typically located in very favorable areas or have larger floor spaces, indicating that location and size are key factors driving their value.
Between 2021 and the first half of 2023, HDB launched 13 Prime Location Public Housing (PLH) projects in Bukit Merah, Central Area, Kallang Whampoa, and Queenstown, and 36 non-PLH projects across several of the affected towns.
Since 2021, HDB has rolled out about 50,000 flats and aims to reach 100,000 by 2025, with new housing supply distributed across various locations to meet demand.
The government continues to monitor the resale market closely, emphasizing that million-dollar HDB flats remain a small minority despite their visibility in certain prime estates.

Questions identified by AI (learn more)

Full Transcript

Saktiandi Supaat

Desmond Lee

Since 2021, we have launched about 50,000 flats and are on track to launch 100,000 flats by 2025.

Summary written by AI (learn more)

As of July 2023, 21 HDB towns and estates, including areas like Ang Mo Kio, Bedok, and Queenstown, have recorded resale flat prices exceeding $1 million, with such transactions representing about 1% of total resale activity in 2021 and 2022.
These high-priced flats are typically located in very favorable areas or have larger floor spaces, indicating that location and size are key factors driving their value.
Between 2021 and the first half of 2023, HDB launched 13 Prime Location Public Housing (PLH) projects in Bukit Merah, Central Area, Kallang Whampoa, and Queenstown, and 36 non-PLH projects across several of the affected towns.
Since 2021, HDB has rolled out about 50,000 flats and aims to reach 100,000 by 2025, with new housing supply distributed across various locations to meet demand.
The government continues to monitor the resale market closely, emphasizing that million-dollar HDB flats remain a small minority despite their visibility in certain prime estates.

Questions identified by AI (learn more)

HDB Estates where Resale Flat Prices Exceed $1 Million

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Questions Identified

Full Transcript

Saktiandi Supaat

Desmond Lee

Summary

Questions Identified

HDB Estates where Resale Flat Prices Exceed $1 Million

Summary

Questions Identified

Full Transcript

Saktiandi Supaat

Desmond Lee

Summary

Questions Identified