Million dollar HDB flats in Singapore: Where are they, and why so expensive?

pinnacle duxton hdb flat Singapore

How much would you pay for a HDB flat? Some of us might be willing to fork out a lot more to live in a particular location, or to find a place that truly feels like home (a super fancy one).

We thought we’d showcase some of the most jaw-dropping HDB sales over the past year:

hdb flats for sale singapore - pinnacle duxton, city view boon keng, queenstown

Most expensive HDB flat

[EDIT MARCH 2020] Sooooo… A 5-room HDB flat at Pinnacle@Duxton just sold for a record-smashing $1,232,000 in March 2020, beating the previous record of $1,205,000 set by a 5-room HDB flat in a Design, Build and Sell Scheme (DBSS) project City View @ Boon Keng.

These DBSS projects are public housing developed by private developers, so you’ll find that it looks quite different from your regular HDB flat:

city view boon keng dbss hdb singapore

Most expensive neighborhoods

Hotspots like the central area (Tanjong Pagar), Bishan and Queenstown (including Holland Village) saw the most million dollar HDB flats sold.

So it came as quite a surprise to some when a 5-room HDB flat in Clementi sold for $1,038,000. Who said HDB flats in the heartlands can’t be a good investment?

Million dollar views

Location, size and the obvious factors aside, there’s also another strong pattern: units on high floors are much more likely to fetch higher prices.

A statistical analysis conducted earlier this year found that out of all the 5-room HDB flats on the 40th floor or above resold since 2015, a good 75% fetched $1 million or more.

For 5-room HDB flats on the 31st to 39th floors, this figure drops to 37%.

And for 5-room HDB flats from the 19th to 30th floors, it plummets even further to 2.7%.


What’s next for the HDB market in 2020?

What a year.

But we don’t mean to say that HDB flats are getting unattainably expensive – these million dollar sales are anomalies. Here’s a tip: HDB flats in non-mature estates like Woodlands and Punggol tend to be around 15% cheaper than those in mature-estates.

Plus, following the recent increase in CPF Housing Grants for resale HDB flat buyers, resale flats are likely to become a more attractive option.

And to make it even easier to afford? We’ve also compiled how much a spare bedroom in your neighborhood is worth in the rental market here.

cheap hdb flats and condos for sale in singapore


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