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Prices for HDB resale flats continue to be on the rise.
According to a flash report by 99.co and SRX on the HDB resale market in May 2022, prices have climbed for the 23rd consecutive month, rising by 0.5 per cent in May alone.
Meanwhile, there was a decrease of 5.1 per cent in resale volume, compared to the month of April, suggesting that demand continues to exceed supply.
A total of 2,156 resale flats were transacted in total for the month of May, according to 99.co.
Via 99.co website
Highest price increase for four-room flats
Overall, there was an 11 per cent increase in the prices of HDB resale flats, compared with May 2021.
Four-room flats saw the highest year-on-year increase by 11.9 per cent, followed by executive and three-room flats at 11.5 per cent.
Overall median resale prices were the highest for resale flats in the Bukit Timah estate (S$840,000), Bishan estate (S$738,000), and Queenstown (S$706,000), based on transactions compiled as of June 6.
On the other hand, overall median resale prices were the lowest for estates in Ang Mo Kio (S$430,000), Bedok (S$442,500), and Yishun (S$450,000) respectively.
First million dollar flats sold in Woodlands and Pasir Ris
Three executive HDB resale flats in Pasir Ris and Woodlands were sold for over a million dollars in May 2022 – a first for both estates.
The 189sqm executive maisonette at Pasir Ris Street 13 was sold for S$1,138,888.
Both executive flats in Woodlands – spanning 189sqm as well – also exchanged hands above the million dollar mark.
One of the flats, located along Woodlands Street 83, was sold at S$1.04 million, while the other flat along Woodlands Street 81 was sold at S$1.03 million.
In general, 30 million-dollar flats were sold in May 2022, the second highest number of million-dollar flats transacted since December 2021.
Earlier in May, a five-room HDB resale flat at Henderson had made headlines after it was sold for a record of S$1.4 million.
Two executive HDB resale flats in Yishun also crossed the million dollar mark in May and June 2022.
An estimate of the minimum gross monthly income to afford a resale flat in different estates around Singapore in 2022 was shared by 99.co.