Older resale flats favoured, thanks to their larger size and greater affordability 

THE proportion of older flats sold in 2022 has more than doubled over the last decade, reflecting the demand for larger and more affordable resale flats, especially in the last few years.

Data compiled for The Business Times by Cushman & Wakefield Research shows that the number of older flats sold as a proportion of all resale Housing and Development Board (HDB) flat types jumped from 15 per cent in 2012 to 37 per cent in 2022, based on latest available data as at Dec 29.

The HDB resale flats were divided into three groups: