THE number of million-dollar Housing and Development Board (HDB) flats resold hit another all-time high in July with 120 transactions, while resale prices continued to rise.
Flash estimates from SRX and 99.co released on Tuesday (Aug 6) showed that HDB resale prices grew 0.6 per cent month on month.
Resale prices rose 0.5 per cent in mature estates and 0.6 per cent in non-mature estates from the previous month.
Prices for three-room flats were up 0.3 per cent on the month, while prices for four-roomers and executive units rose 1.3 per cent each. Meanwhile, prices for five-room flats inched down 0.1 per cent.
Resale volumes surged 39.6 per cent on the month to 3,049 flats, versus 2,184 flats in June. Compared with the corresponding period the previous year, resale volumes were 48.3 per cent higher.
HDB flats sold for at least S$1 million accounted for 3.9 per cent of total resale volumes, rising 25 per cent on the month to 120 units in July, compared with 96 in June.
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Flats in Kallang Whampoa recorded the most million-dollar transactions with 23 units changing hands, followed by Bukit Merah with 21 and Queenstown with 18.
Out of all the million-dollar transactions, 47 came from new projects that reached its minimum occupancy period. They included Ghim Moh Edge, St George’s Tower and McNair Towers.
Overall, by room type, four-room flats were the most popular during the month, raking in 46 per cent of total volumes. Demand for three-roomers accounted for 24.9 per cent of resale volumes, and five-roomers for 23.5 per cent. Around 5.6 per cent of transactions were for executive flats.
More than half (59.5 per cent) of resale flat transactions were from non-mature estates.
Luqman Hakim, chief data and analytics officer at 99.co, said: “While July has always been the month where resale volume picks up after the June holidays, this year saw a marked increase that can only suggest that more private-property owners are downgrading to HDBs, albeit of the premium type and/or premium-location ones, with a marked increase of million-dollar homes also supporting this view.”
Year on year, overall prices gained 7.6 per cent. Mature estate resale prices were up 7.8 per cent, while non-mature prices were up 7.5 per cent.
Four-room flats had the highest increase in resale prices at 8.7 per cent, followed by five-roomers at 7.6 per cent, three-roomers at 6.6 per cent and executive flats at 6.3 per cent.
The highest transacted price for a resale flat was S$1.57 million for a five-room flat at Bishan Street 24. In non-mature estates, the most expensive flat resold was a five-roomer at Punggol Field for S$1.23 million.
