$800k and above resale flats

Lets not dwell too much about the 1.7m flat and just analyse the pricier flats, 800k and upwards. 

A staggering percentage 15% of all resale transactions is $800k and above.

Resale flats priced between $800K-$1M saw a transaction share of 11.6% in Q2 2024, up from 10.2% in Q1 2024.

Flats priced above $1M accounted for 2.6% of transactions in Q2 2024, an increase from 2.1% in Q1 2024.

Market Dynamics:

The number of HDB flats reaching the minimum occupation period (MOP) in 2024 is estimated to be around 13,000, down from 15,700 units in 2023. Fewer new flats meeting MOP in 2024 led to reduced stock availability and upward pressure on resale flat prices.

Rental Market:

Rental: 

Highest median rental price was for four-room flats in the central region at $4,400, with the lowest median rental price for two-room flats in Sengkang at $2,530.

Future Outlook:

Analysts expect prices to continue climbing as demand strengthens. The proportion of transactions involving million-dollar flats will remain strong due to the attraction of mature estates and limited new supply.

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