A five-room HDB flat was sold for S$1.2 million in April 2019, according to a report by Property Guru.

Record breaking price

The 112 square metres flat, which is located at Boon Tiong Road, has a remaining lease of 95 years.

It is also located on a high floor -- between the 34th and 36 storeys.

The price of S$1.2 million surpasses the previous record set by a five-room Design, Build and Sell Scheme (DBSS) flat in Boon Keng sold at S$1.185 million.

What this means is that this is the first standard HDB flat price to top the price of non-standard flats, including maisonettes and DBSS units.

Million dollar flats becoming more common?

The phenomenon of resale flats exceeding the million-dollar mark is not entirely new.

In 2017, for instance, over 40 Housing Development Board (HDB) flats hit the million-dollar mark.

These included a five-room flat at the Pinnacle@Duxton(S$1.14 million), and a five room HDB resale flat at Bishan’s Natura Loft (S$1.18 million).

Property developer OrangeTee & Tie also noted that the number of million-dollar flats have been rising over the years.

As of April this year, 26 standard flats were sold for over S$1 million.

Top photo via Google streetview.