31 HDB resale flats were transacted for at least a million dollars last month, according to the 99.co and SRX Flash Report on the HDB resale market in June 2022.
This brings the total number of million-dollar flats sold in the first half of 2022 to 166, a 57 per cent increase from the 106 million-dollar flats sold in the same period last year.
June’s number also marks the second-highest number of million-dollar flats transacted in a month, surpassing May’s record of 30. The current all-time record was in December 2021 with 36 of such flats sold.
Nevertheless, these sales represent a tiny percentage of the total number of resale flats at 1.4 per cent, out of the 2,139 resale flats sold last month.
Third million-dollar flat sold in Yishun
A 1,765 sq ft executive apartment at Yishun Street 61 was sold for $1 million last month, becoming the third million-dollar HDB resale flat in Yishun. With the flat completed in 1987, the flat has about 64 years remaining lease.
This transaction makes Yishun become the non-mature estate with the highest number of million-dollar flats sold at three.
Other non-mature estates that have recorded such sales so far are Woodlands with two units sold in May, and Hougang with one unit sold back in 2018.
More four-room flats breaching the million-dollar mark
Last month also saw eight four-room resale flats sold for at least a million dollars. In comparison, there were only two such transactions in May.
This is a trend that we have previously written about last month. While five-room flats and executive apartments generally make up the million-dollar-flat club, we have been seeing more four-room flats breaching the million-dollar mark.
HDB developments that have recorded such sales include [email protected] and Tiong Bahru View.
1.2 per cent price increase in June
Month-on-month, HDB resale prices have increased by 1.2 per cent, with five-room flats recording the highest increase at 1.4 per cent. Meanwhile, prices of three-room, four-room and executive apartments have risen by one per cent each.
Year-on-year, the price increase is 11.4 per cent, with 3-room flats recording the highest growth at 12.1 per cent.
This is followed by five-room flats at 12 per cent, four-room flats at 11.7 per cent and executive apartments at 11.6 per cent.
Resale volume last month was down by 0.85 per cent, with 2,139 flats sold.
Breaking down by flat type, the majority of flats sold was four-room flats at 41.8 per cent, followed by five-room flats at 26.9 per cent, three-room flats at 22.2 per cent and executive apartments at 7.3 per cent.