A record number of 54 flats were sold for at least S$1 million in August 2023, the highest volume to date, according to data from the Singapore Real Estate Exchange (SRX) and the Housing and Development Board (HDB).

Million-dollar flats accounted for 2.2 per cent of the total number of resale flats sold for the month.

In comparison, July 2023 recorded 32 such sales.

Nine of the 54 flats sold were located in Bukit Merah

SRX and HDB added that nine of these 54 flats were sold in Bukit Merah, followed by eight in the central area, while Ang Mo Kio and Kallang/ Whampoa each recorded six.

The remaining million-dollar flat sales were from Queenstown, Toa Payoh, Bukit Timah, Clementi, Bishan, Woodlands, Hougang, Marine Parade, Geylang, Tampines and Serangoon.

The most expensive resale flat sold was a five-room unit at The Pinnacle@Duxton, for S$1.48 million.

As for non-mature estates, the resale flat with the highest transacted price was an executive apartment at Woodlands Street 81 for S$1,080,888.

2,473 resale flats sold in August 2023

In total, 2,473 resale flats were sold in August 2023, representing a 20.3 per cent increase from July 2023.

SRX and HDB added that year-on-year, the resale volume in August 2023 is 6.4 per cent higher than the previous year.

When broken down by room type, 44.6 per cent of the sales volume came from four-room flats, 22.8 per cent from five-room flats, 26.3 per cent from three-room flats and 6.3 per cent from executive apartments.

In terms of breakdown by estate, 59.7 per cent of the resale volume came from mon-mature estates, while the remaining 40.3 per cent in the month were from mature estates.

Resale flat prices increased by 0.6 per cent for August 2023 compared to the previous month

The prices for resale flats also increased by 0.6 per cent for August 2023, compared to July 2023.

Within non-mature estates, this increase was 0.5 per cent, while the increase in mature estates was 1.3 per cent, compared to July 2023.

In terms of room types, the prices for three-room flats decreased by 0.4 per cent, four-flat prices went up by 0.9 per cent and five room flat prices increased by 1.5 per cent, while executive apartment prices increased by 1.6 per cent.

Resale flat prices increased by 7.2 per cent overall from August 2022

In addition, according to the SRX Property Price Index, HDB resale flat prices increased by 7.2 per cent from August 2022.

In breaking down the price increase by flat type on a year-on-year basis, three-room flats increased by 6.3 per cent, four-room flats increased by 8.2 per cent, five-room flats increased by 7.2 per cent and executive apartments by 8 per cent.

As for mature and non-mature estates, prices increased by 7.2 per cent and 7.3 per cent respectively from a year ago.

Top photo via Google Maps/Ivan Li