A five-room unit at Block 9A Boon Tiong Road in Tiong Bahru changed hands for $1.45 million, making it the most expensive flat sold in March.One of the reasons why prices of Housing Board resale flats have headed up north - for the sixth straight month - can be attributed to the rising number of million-dollar flat transactions, some property analysts have said.
Of the million-dollar HDB resale flats sold in March, 19 were four-room units, 24 were five-room flats, 16 were executive apartments, and two were multi-generation flats. "Some of the existing flats there may fall under the upcoming 'prime and plus' reclassification and will not be subjected to the stringent resale rules", he said. "This makes them more appealing to buyers."
Luqman Hakim, chief data officer at 99.co, told AsiaOne that the 61 flats that have changed hands for at least $1 million in March is not a significant number, considering it represents only three per cent of the total resale transactions in that month. HDB had said earlier this year that with three BTO launches instead of four, home buyers can look forward to a bigger housing supply at each launch. And this will enable them to select from a wider range of flats and locations.
At the OrangeTee annual convention on Friday , Lee said that there have been three rounds of property cooling measures since December 2021 and that "we are beginning to see some signs of stabilisation".