September 19, 2023, 11:00 AM
Million-dollar HDB resale flats have been making headlines in the past few months.
What has not been reported are the profiles of the buyers of such flats or their demographic mix.
In light of this data being excluded, Ang Mo Kio GRC Member of Parliament Gan Thiam Poh asked the Minister for National Development for the ages of those who have bought million-dollar HDB resale flats and the percentage of Singapore's permanent residents who have done so in the past eight years.
Median age: 40 years old
In response, Minister for National Development Desmond Lee said from July 2015 to June 2023, less than 1 per cent of the HDB resale transaction registered were sold for a million dollars or more.
Among these buyers, the median age was 40 years old.
About 94 per cent of the buyers were Singapore citizens while about 6 per cent were permanent residents.
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Top image by Kas Chen
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