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:
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:
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.
