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|May 07,2025Proportion of million-dollar resale flats sold crossed 6% in April 2025
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They may no longer hog media headlines as much, but the sales of the so-called million-dollar HDB resale flats are still alive and kicking. In fact, they have seemingly become a new normal with a record-breaking 1,035 such flats being resold in 2024. This number may be breached again in 2025.
In April 2025, there were 141 HDB resale flats that fetched at least $1 million (see Chart 1), accounting for 6.1% of the monthly transactions, based on sales data. This is the highest monthly proportion of such flats resold - topping the 5% plus proportion range in the first three months of 2025. In absolute terms, the 141 units it is also the highest monthly tally of million-dollar flats resold on record. All in, there were a total of 489 units of million-dollar resale flats sold in the first four months of 2025.
Chart 1: Number of HDB flats resold for at least $1 million by month
Source: PropNex Research, data.gov.sg (retrieved on 2 May 2025)
The 141 units of million-dollar flats transacted in April comprised 59 units of 4-room flats, 44 units of 5-room flats, 37 executive flats, and a multi-gen flat. The three towns with the highest number of such sales in April were Toa Payoh with 27 units, Bukit Merah with 23 deals, and 14 such transactions each in Queenstown and Kallang Whampoa. Of the 141 units, 14 of them are located in non-mature towns Hougang, Woodlands, Punggol, Jurong East, Sengkang, and Bukit Panjang.
Notably, the 59 units of million-dollar resale 4-room flats represent the highest number of such sales for this flat type on a monthly basis. They include flats from projects that recently met their 5-year minimum occupation period (MOP), such as those in Bidadari Park Drive, Alkaff Crescent, and St. Geroge's Lane.
The priciest flat resold in April was a 5-room unit at The Peak @ Toa Payoh which changed hands for $1.49 million. The DBSS (design, build, and sell scheme) unit spans 114 sq m and is located on a high floor, between the 31st and 33rd storey (see Table 1).
Table 1: Top 10 HDB resale flats sold in April 2025 by Transacted Price
Town | Type | Street | Storey range | Floor area (SQ M) | Lease start date | Resale price | PSF ($) |
TOA PAYOH | 5 ROOM | LOR 1A TOA PAYOH | 31 TO 33 | 114 | 2012 | $1,490,000 | $1,214 |
BISHAN | 5 ROOM | BISHAN ST 24 | 16 TO 18 | 120 | 2011 | $1,458,000 | $1,129 |
BUKIT MERAH | 5 ROOM | HENDERSON RD | 22 TO 24 | 113 | 2019 | $1,450,000 | $1,192 |
BUKIT TIMAH | EXECUTIVE | TOH YI DR | 07 TO 09 | 150 | 1989 | $1,418,000 | $878 |
QUEENSTOWN | 5 ROOM | DAWSON RD | 22 TO 24 | 107 | 2020 | $1,400,000 | $1,216 |
TOA PAYOH | 5 ROOM | BIDADARI PK DR | 16 TO 18 | 114 | 2020 | $1,400,000 | $1,141 |
CENTRAL AREA | 4 ROOM | CANTONMENT RD | 37 TO 39 | 95 | 2011 | $1,388,888 | $1,358 |
CLEMENTI | 5 ROOM | CLEMENTI AVE 3 | 25 TO 27 | 112 | 2018 | $1,383,000 | $1,147 |
CENTRAL AREA | 4 ROOM | CANTONMENT RD | 31 TO 33 | 93 | 2011 | $1,380,000 | $1,379 |
CENTRAL AREA | 4 ROOM | CANTONMENT RD | 28 TO 30 | 95 | 2011 | $1,370,000 | $1,340 |
TOA PAYOH | 5 ROOM | LOR 1A TOA PAYOH | 31 TO 33 | 114 | 2012 | $1,490,000 | $1,214 |
Source: PropNex Research, data.gov.sg (retrieved on 2 May 2025)
Overall, the million-dollar resale flats made up 6.1% of the monthly transaction volume in April - up from the 5.7% proportion in March. The sales data also showed that the proportion of HDB flats resold for under $500,000 in April was 23.2% compared with 24.1% in March, while the portion of resale flats sold at prices ranging from $500,000 to just under $1 million came in at 70.7% in April, relatively on par with the 70.2% in the previous month.
Chart 2: HDB resale flat transactions by price range
Source: PropNex Research, data.gov.sg (retrieved on 2 May 2025)
Chart 3: HDB resale volume and average resale price
Source: PropNex Research, data.gov.sg (retrieved on 2 May 2025)
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