Written answer by Ministry of National Development on purchase of million-dollar resale HDB flats by ex-private property owners

May 10, 2023

Question No: 2998

Question by: Mr Gan Thiam Poh

To ask the Minister for National Development how many buyers of million-dollar resale HDB flats have previously held private properties.

Answer:

Between 1 Apr 2022 and 31 Mar 2023, around one percent of the resale transactions registered, or 389 flats, were sold for a million dollars or more. Among the buyers, almost three in ten, or 108 buyers, previously owned a private property or were holding on to a private property at the point of resale flat application.