A million-dollar HDB resale flat makes sense for some buyers

Amid strong demand for homes, more Housing and Development Board (HDB) flats have changed hands for over a million dollars each. Attributes such as a large floor area, a central location, good views and being relatively new can help an HDB flat to fetch a cool million dollars or more in the resale market.

Good news for owners of such coveted HDB flats; angst for some people who fear that certain resale flats are possibly unaffordable. Are buyers crazy to pay princely sums for public housing flats?

Prices of HDB resale and private homes in Singapore are interlinked. When HDB resale prices are strong, private home prices receive a boost, as owners of HDB units can easily and profitably sell their homes to free up funds to help buy a private unit.