Sixty-eight flats changed hands for at least $1 million each in April.
Property analysts said the rebound in demand for resale flats could be attributed to the less frequent Build-To-Order and Sale of Balance Flats exercises.
From 2024, BTO flats will be offered across three sales exercises – in February, June and October – down from the previous four launches a year. On the supply end, the healthy resale market could have led to more home owners putting up their flats for sale, said Ms Christine Sun, chief researcher and strategist at property firm OrangeTee Group.
Of the million-dollar HDB resale flats sold in April, 24 are four-room units, 22 five-room flats and 22 executive apartments. The non-mature town of Sengkang recorded its first million-dollar flat transaction in April, noted Mr Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors.Still, Mr Sandrasegeran does not expect significant shifts in resale prices in the Sengkang area.Mr Yip said 11 of the 15 transactions were at the St George’s Towers project, which recently reached its five-year minimum occupation period.
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