A 5-room HDB resale flat at Margaret Drive has been sold for $1.73 million. It broke the record for the most expensive HDB resale flat in Singapore.
Yesterday, real estate website 99.co listed another three significant property transactions. The first was a 5-room flat in Compassvale Drive, Sengkang, that went for around $1 million. The second was a 5-room in Punggol that was sold for $1.22 million, marking an all-time high for the area. The third was an EXE in Clementi that similarly marked an all-time high there at $1.15 million.
As if these crazy, sky-high costs prices are not enough, just last month, a 5-room unit at Henderson Rd was sold for $1.59 million.
At last year’s National Day Rally, then-PM Lee Hsien Loong assured Singaporeans that HDB prices will remain affordable. He even introduced adjusted housing schemes to achieve this. He said:
“We must still ensure public housing is accessible and affordable for Singaporeans of all income groups. We must keep our housing schemes fair and inclusive for all.”
Fast forward to 2024, Minister for National Development Desmond Lee said:
“The number of flats that are sold for $1 million and more remains a very small proportion of the overall volume of resale transactions that are carried out every year.”
He added that the Government will monitor trends very carefully over the next few quarters.
Is there a mismatch between what they assured Singaporeans and what we actually observe? How much does the Government regard as “affordable” for Singaporeans? Do you think this reflects the reality and plight of ordinary Singaporeans?
