Million-dollar HDB resale flat deals on track for record as supply crunch bites, demand holds steady
Analysts project up to 1,500 of such deals this year
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[SINGAPORE] Amid tight supply and steady demand for larger units, the proportion of Housing & Development Board (HDB) resale flats fetching at least S$1 million has climbed to nearly 6 per cent of the year-to-date sales as at mid-June. Analysts now expect the number of such deals to hit a record this year.
Such transactions have surged over the past five years, showed HDB and Huttons Asia data. In 2020, they made up just 0.3 per cent of total deals, but their share grew steadily to 3.6 per cent in 2024.
From January to mid-June, 677 flats were sold for at least S$1 million each – more than 60 per cent of 2024’s total of 1,035 such transactions, said Mark Yip, chief executive of Huttons Asia.
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