SINGAPORE - Prices of Housing Board resale flats inched up by 0.6 per cent in August, with a record 54 units changing hands for at least $1 million each.
But she said the growth rate in the first eight months of 2023 has slowed, compared with the same period in 2022 and 2021. Analysts pointed to the reclassification of HDB flats that will kick in from the second half of 2024, when Build-To-Order flats in choicer locations will fall under the Prime and Plus categories that come with stricter resale conditions.
Plus and Prime flats come with a 10-year minimum occupation period before they can be sold, and a subsidy clawback under which flat owners return subsidies to HDB upon selling their flats.Huttons Asia chief executive Mark Yip said buyers are willing to pay more to snag a flat with no resale restrictions in mature estates.
The most expensive resale flat was a five-room, 107 sq m unit between the 28th and 30th storeys at The Pinnacle@Duxton in Cantonment Road that sold for $1.48 million.A four-room, 94 sq m unit between the 49th and 51st storeys at The Pinnacle@Duxton changed hands for $1.41 million, or $1,394 psf - the highest psf price recorded for a resale HDB to date, said PropNex Realty head of research and content Wong Siew Ying.
Private property owners above 55 years old are able to purchase four-room and smaller resale flats after selling their home, without being subjected to the 15-month wait-out period.
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