SINGAPORE – Despite the Covid-19 pandemic, a total of 82 Housing Board apartments were sold for at least $ 1 million last year, compared to 64 in 2019.
36 such transactions were carried out in the first two months of this year, compared to just eight in the same period last year.
HDB homes, which have surpassed the $ 1 million mark, are a relatively new phenomenon.
The first such sale was recorded in July 2012 for a 150-square-meter executive apartment on Mei Ling Street, Block 149, Queenstown. Three months later, in October 2012, a 163 square meter maisonette at 13 Block 194 Bishan Street was sold for $ 1.01 million.
The appetite for such apartments has grown over the years.
According to the real estate portal SRX, there had been 338 such transactions up to last month.
The most expensive unit to date is a five-bedroom apartment in Block 1B at The Pinnacle @ Duxton, which sold for $ 1.258 million last September.
However, analysts were quick to point out that there were few HDB transactions valued at $ 1 million. They made up just 0.3 percent of total resale transactions in the first eight months of last year.
Here’s a look at the six most expensive apartments sold in Singapore:
Why are people willing to spend so much on an HDB apartment?
The buyer, who paid $ 1.232 million for a five-bedroom apartment at The Pinnacle @ Duxton – the third most expensive apartment on sale here – said the convenience of living in a familiar central area comes down to the price predominates.
Where are these million dollar apartments?
Of the 338 homes that exceeded $ 1 million, 102 are in central Singapore. Bishan finished second with 65 transactions.
In addition to location, real estate analysts say these units share some common attributes.
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