High-priced transactions continue to make up a small minority of total resale transactions, he says.
SINGAPORE – The majority of Housing Board resale flats remain within reach of Singaporeans, National Development Minister Desmond Lee said on Aug 6 as he addressed concerns about the affordability of public housing.
More than 70 per cent of the remaining units are five-room flats that are situated in good locations, on a high floor or have a very long remaining lease, he said. In July, a five-room unit in Margaret Drive in Queenstown transacted for around $1.73 million, breaking the record for the most expensive HDB resale flat in Singapore.in April and another such unit at City Vue @ Henderson, which sold for $1.59 million in June.was driving up the resale prices of non-PLH flats in choicer locations, and if the Government was considering imposing a cap on HDB transaction prices.
But these measures will take time to take effect, so the Government has increased the CPF Housing Grant to provide quick and targeted support to first-timers, he added. In 2023, HDB completed about 21,400 flats across 23 housing projects, the highest number of projects and flats completed annually in the last six years, he said. It is on track to complete another 18,000 flats in 2024.
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