Million-dollar HDB flats are here to stay 😲⬇️
FILE PHOTO: A view of old public housing apartments in fringe of the central business district in SingaporeSINGAPORE - Hundreds of public housing apartments in Singapore, one of the world's most expensive cities, are being sold for over one million Singapore dollars as COVID-related construction delays create a shortage of new units.
Many units - known as Housing & Development Board flats - are conveniently located near train stations and malls and cater to various socioeconomic groups. For decades, Singaporeans have used their HDB flats for extra cash by renting them out or reselling at a profit. Unlike HDB flats, private condos in Singapore typically have security guards and facilities including swimming pools and gyms.
Those finding the resale market unaffordable can seek to buy off-plan public flats directly from the government, known as HDB Built-To-Order public flats, typically selling for about S$300,000 to S$700,000.
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