HDB flats originally bought for $500,000 are now being sold twice the price - The Independent Singapore News

The rise in the number of million-dollar HDB flats made the news recently; getting featured in a Reuters article published in different countries.

The Reuters article noted that hundreds of HDB flats are being sold for over one million dollars, leading to talk that the government may impose cooling measures. “Some apartments originally purchased for around $500,000 are now fetching double that, depending on size and location,” the Reuters piece added.“There will always be people who like to live in central locations or larger spaces but unable to afford private condos. If you’re looking at private condo of similar size in the same location, the price could easily be $2.5 million,” said broker Clarence Long.

And if the resale market is too pricey for some households, they can avail of HDB Built-To-Order flats, which range from $300,000 to $700,000, but can come with a waiting period of at least five years.

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