HDB flats of Spore: Are they ‘cheap’? Well, some could go for ‘at least S$1 million’

KUALA LUMPUR (April 1): Folks here in Malaysia of course know that Singapore’s Housing Development Board is the republic’s provider of public housing for their citizens.

We Malaysians have a mindset that such homes are “cheap” housing but a Straits Times (ST) report recently will blow such a view out of the water.

A report by the Spore English-language daily yesterday stated that “a total of 82 Housing Board flats were sold for at least S$1 million (RM3.07 million) last year, compared with 64 in 2019”. Gulp.

In September last year, “the most expensive unit so far” sold was a five-room unit in Block 1B at The Pinnacle @ Duxton (pictured) that went for S$1.258 million (RM3.89 million), the ST revealed.

According to records, 338 HDB homes were sold above S$1 million mark “over the years” with 102 being in central Singapore while Bishan had 65 transactions and Queenstown 49. These three areas are therefore the top three in the above S$1 million rankings.

Why are Singaporeans willing to pay so much for HDB homes in such areas?

A buyer of another above S$1 million unit at The Pinnacle @ Duxton told ST that it is for “the convenience of living in a central area that he is familiar with outweighs the price tag”.

Guess such traits are common for in demand homes all over the globe.

So, what can RM3 million buy you in Malaysia, or even in our pricey Klang Valley? We leave it to your imagination.

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