Woodlands and Pasir Ris see first million-dollar resale flats

Flats in Woodlands Street 83 and Pasir Ris Street 13 were among those sold for more than $1 million in May.SINGAPORE - Prices for Housing Board resale flats edged up for the 23rd consecutive month in May even as fewer units changed hands, suggesting that demand is continuing to outstrip supply, according to flash data from real estate portals 99.co and SRX on Thursday .

A total of 30 HDB resale flats changed hands for at least $1 million in May, an increase from the 22 such deals recorded in April.Such million-dollar flats comprise 1.4 per cent of the total resale volume in May, the data showed.Last month, HDB resale prices rose 0.5 per cent, a slower pace compared with the 1.1 per cent seen in April, data showed.

Analysts said demand may have been diverted to the attractive Build-To-Order launches in May, which had three projects in the mature estates of Queenstown, Bukit Merah and Toa Payoh. The launch of the prime location public housing model flats in popular mature locations, such as Bukit Merah and Rochor, have also given buyers more options, she added.

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