HDB Estates where Resale Flat Prices Exceed $1 Million

89 Mr Saktiandi Supaat asked the Minister for National Development (a) to date, how many HDB estates have had an HDB flat obtaining a resale price exceeding $1 million; (b) where are these HDB estates located; (c) at the locations of these HDB estates, how many new HDB estates have been launched, announced or planned since 2021 under (i) the Prime Location Public Housing (PLH) model and (ii) non-PLH model respectively.

Mr Desmond Lee: As of 22 July 2023, 21 Housing and Development Board (HDB) towns and estates have resale transactions registered with a resale price of $1 million or more. They are Ang Mo Kio, Bedok, Bishan, Bukit Batok, Bukit Merah, Bukit Timah, Central Area, Clementi, Geylang, Hougang, Jurong East, Kallang Whampoa, Marine Parade, Pasir Ris, Punggol, Queenstown, Serangoon, Tampines, Toa Payoh, Woodlands and Yishun.

HDB resale flats that have been sold for $1 million or more form a very small minority, at around 1% of total resale transactions in 2021 and 2022. These flats tend to be in very favourable locations or come with larger floor areas.

Among these 21 towns and estates, between 2021 and the first half of 2023, HDB offered 13 BTO projects under the Prime Location Public Housing (PLH) model in Bukit Merah, Central Area, Kallang Whampoa and Queenstown. HDB has also launched 36 non-PLH BTO projects across several of the 21 towns and estates.

Since 2021, we have launched about 50,000 flats and are on track to launch 100,000 flats by 2025.