According to the Singapore Real Estate Exchange, which collates information from the Housing Board and major property firms, seven HDB resale flats have been sold for more than $900,000, with more than half (five) just this year. The flats, which range from 1,180 sq ft to 1,850 sq ft., were in mature towns. Three were in Bishan, one in Kallang, two in Queenstown with the final one in Toa Payoh.
The most expensive apartment is an executive maisonette in Bishan which was sold at $980,000, making it the most expensive Housing Board (HDB) resale flat ever sold. This includes a $200,000 cash over valuation (COV), which is also possibly the highest ever COV transacted. The previous record of $910,000 was held by an executive flat in Toa Payoh, which was also sold this year.
In recent months, there have been transactions with high COVs. These include a $168,000 COV for an executive maisonette in Tampines and $135,000 COV for a five-room flat in Holland Drive.