A FOUR-room jumbo Housing Board (HDB) flat at 50 Moh Guan Terrace was sold for S$1.5 million in May, setting a new price record for HDB resale units transacted. 

The fourth floor unit in Tiong Bahru occupies a strata area of 1,894.5 square feet. It has a 99-year lease which commenced from 1973. 

On Friday (Jun 23), Knight Frank Singapore said that the transaction topped the previous high reached by a five-room loft at SkyTerrace@Dawson which changed hands for just under S$1.42 million in June 2022. Both transactions were brokered by KF Property Network.

While attention-grabbing, million-dollar HDB flat sales constitute a small proportion of all public housing resale transactions. Such units accounted for about 1.5 per cent of transactions in May, down from 1.7 per cent in April, according to PropNex Realty’s head of research and content Wong Siew Ying.

The number of million-dollar HDB sales fell in May 2023 to 34 deals, compared to 37 such deals transacted in April 2023. The highest transacted price for a resale flat last month was S$1.37 million for a five-room unit at The Peak @ Toa Payoh. 

In non-mature estates, the most expensive HDB flat transaction in May involved an executive maisonette at Bukit Batok Street 25 which changed hands for S$1.09 million. 

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Kallang Whampoa recorded the most million-dollar HDB flat deals in May, with eight transactions, followed by Bukit Merah, the Central Area and Bedok with three units each. Other million-dollar HDB flat sales were chalked up in areas including Bishan, Clementi and Marine Parade. 

Overall HDB resale prices rose 1 per cent in the first quarter of 2023, the smallest quarterly increase since Q2 2020, when prices rose by 0.3 per cent. 

Resale prices rose at a moderate pace of 0.3 per cent in May 2023 compared with 1.1 per cent in Apr 2023, according to data released by SRX and 99.co.