Koe says he would not be surprised if there was another transaction in Punggol that “hit the high $900,000 mark”. However, the $1 million price threshold “may be a challenge”, he adds. “That would mean the HDB flats in the Central area, the likes of Pinnacle @ Duxton, achieving resale prices in the $1.3 million to $1.4 million range.”

Image Credit: Albert Chua | The Edge Singapore

So far, there have been 160 HDB resales at prices above $1 million, according to SRI data. The latest resale of a million-dollar flat was for a five-room flat at City View @ Boon Keng that fetched $1.185 million earlier in Jan 19. The flat was one of those built under the Design, Build and Sell Scheme (DBSS) that was scrapped in 2011.

Upcoming Executive Condo To Cross $1,000 psf