Yahoo Finance First million-dollar flats sold in Bukit Batok and Marine Parade in July 2022
Two more HDB estates have joined the million-dollar HDB resale club in July.
Earlier in July, it was reported that a 47-year-old HDB flat in Marine Parade was sold for S$1.01 million, making it the first million-dollar resale flat in the estate. But the estate is not the only estate recording its first S$1 million sale last month.
According to a flash report by 99.co and SRX on the HDB resale market in July 2022, Bukit Batok has recorded its first S$1 million sale. An executive masionette at Bukit Batok Street 25 was sold for S$1.005 million. Spanning 1,776 sq ft, this translates to a price psf of S$566.
This also means that Bukit Batok is the fourth non-mature estate to join the million-dollar club, after Hougang in 2018, Yishun in February 2022 and Woodlands in May 2022.
Last month also saw a new record for the most expensive HDB resale flat ever sold. A 5-room HDB loft apartment at SkyTerrace@Dawson was sold for S$1.418 million, surpassing the previous record of S$1.4 million set by a 5-room flat at City Vue @ Henderson.
In total, 33 resale flats were sold for at least a million dollars in July 2022, surpassing June’s (31) and May’s number (30). This marks the second-highest number of million-dollar flats sold in a month, with the monthly record currently at 36 in December 2021. While the increases are small, there seems to be a trend that the monthly record will soon be surpassed.
Nevertheless, these flats form a small percentage of the total resale transactions in July at 1.4%.
0.7% increase in price, 10.5% increase in transactions
Month-on-month, the overall price increase is 0.7%. Executive flats have seen the highest price increase by 1.2%, followed by 3-room and 4-room flats at 0.6%, and 5-room flats at 0.5%.
Year-on-year, resale prices have increased by 11.6%, with executive flats recording the highest price increase at 13.6%. This is followed by 3-room flats (11.7%), 4-room flats (11.6%) and 5-room flats (11.5%).
The higher price increase for executive flats signifies a greater demand for larger flats.
Last month also saw a resurgence in the resale market, with a 10.5% month-on-month increase in resale transactions. At the same time, it should be noted that June has traditionally been a slower month due to the school holiday.
However, when looking at the yearly transaction figures, resale volume was down 11.3%. This could mean that demand may have been diverted to the HDB BTO/SBF exercise as completion timelines improve.
HDB executive flats for sale
108 Commonwealth Crescent
Singapore 140108 · D3
3
2
1,205 sqft
$620,000
202B Sengkang East Road
Singapore 542202 · D19
4
2
1,399 sqft
$778,888
847 Woodlands Street 82
Singapore 730847 · D25
6
2
1,926 sqft
$990,000
524 Choa Chu Kang Street 51
Singapore 680524 · D23
4
2
1,528 sqft
$660,000
298D Compassvale Street
Singapore 544298 · D19
4
2
1,442 sqft
$750,000
537 Pasir Ris Street 51
Singapore 510537 · D18
4
3
1,593 sqft
$1,100,000
816 Woodlands Street 82
Singapore 730816 · D25
8
4
1,905 sqft
$980,000
721 Bedok Reservoir Road
Singapore 470721 · D16
3
2
1,582 sqft
$918,000
237 Lorong 1 Toa Payoh
Singapore 310237 · D12
4
3
1,572 sqft
$900,000
452 Sin Ming Avenue
Singapore 570452 · D20
4
4
1,571 sqft
$1,250,000
Which HDB estate do you think will be the next to record its first S$1 million sale? Let us know in the comments section below.
If you found this article helpful, 99.co recommends Hougang HDB flat first in its estate to sell for more than S$1m and New all-time high HDB resale: 5-room HDB in Dawson sold for S$1.418 million.
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