GE2025: Housing affordability, availability hot button issues for younger voters
HDB resale flat prices and availability are shaping up as top priorities for voters as the General Election approaches, according to analysts. They say these could turn out to be hot button issues, especially for younger voters and families. Claudia Lim reports. HDB resale flat prices and availability are shaping up as top priorities for voters as the General Election approaches, according to analysts. They say these could turn out to be hot button issues, especially for younger voters and families. Claudia Lim reports.
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Independent Singapore
15 hours ago
- Independent Singapore
Record $1.65M HDB resale flat blurs price gap with executive condos
SINGAPORE: A nine-year-old five-room loft unit at SkyTerrace @ Dawson in Queenstown has been sold for S$1,658,888 — setting a new record for a Housing and Development Board (HDB) resale flat in Singapore. That is more than the price of some executive condominiums (ECs), which are usually more expensive than HDB flats. A search on PropertyGuru shows a three-bedroom unit at Whitewater, an executive condominium in Pasir Ris completed in 2005, on sale for S$1.3 million. Other ECs priced below S$1.65 million can be found in Tampines, Yishun, Sembawang, Sengkang, Punggol, Choa Chu Kang, and other areas. ECs are designed for middle-income Singaporeans who earn too much to qualify for a Build-To-Order (BTO) flat but find private condominiums unaffordable. By design, ECs are priced higher than HDB flats, though exceptions are emerging as resale prices climb. A growing number of HDB resale flats are crossing the S$1 million threshold, encroaching on EC territory in terms of pricing. Resale prices up The million-dollar transactions crest a surge in resale prices. See also Cat ban in HDB flats reversed According to real estate agency PropNex, the average resale price of HDB units rose by 0.8% in May 2025 to nearly S$658,000. Earlier, in February 2025, SmartWealth reported the following averages: HDB resale flats: S$612,497 Condominiums: S$1,989,082 Landed properties: S$5,336,871 The median prices were: HDB flats: S$590,000 Condos: S$1,780,000 Landed: S$4,200,000 In terms of price per square foot: HDB: S$596.81 Condos: S$1,972.40 Landed: S$1,808.30 SmartWealth did not distinguish between ECs and more expensive private condominiums. But a report by the real estate agency Propnex carried by Yahoo News in February 2025 said the median price of an EC unit measuring 900 to 1,000 sq ft was about S$1.48 million. A DBS report in November 2024 pointed out that HDB resale flats had a bigger market because there was no income ceiling for buyers, while ECs were only for those with a monthly household income of up to $16,000. SmartWealth also noted a growing trend of million-dollar public housing transactions. In 2024 alone, 1,035 resale flats were sold for at least S$1 million, raising the total number of million-dollar HDB flats to 2,435. Why are buyers willing to pay so much for HDB flats? The record-setting loft unit at Block 92 Dawson Road has its attractions. Situated between the 22nd and 24th floors, the 1,313 sq ft apartment was sold at S$1,263 psf. Completed in 2016, the flat sits on a 99-year lease with nearly 90 years remaining. Its loft design is rare — even loft units in less central areas like Punggol can sell for S$1.2 million. Queenstown's central location and abundant amenities add to the appeal. SkyTerrace @ Dawson was launched as a BTO project in December 2009, with five-room flats originally selling for about S$532,000. The recent resale fetched over a million dollars more than its initial price. There have been other million-dollar resales in the area. A unit at Dover Crescent was sold for S$1.55 million, while an executive maisonette on Mei Ling Street fetched S$1.51 million. Another unit at SkyOasis @ Dawson reportedly changed hands for S$1.73 million in June 2024. However, that transaction does not appear in HDB's official records, making the SkyTerrace loft unit the highest officially recorded HDB resale to date. Million-dollar HDB transactions are becoming more common. According to Property Lim Brothers Insights, 143 flats were sold for over S$1 million in April alone — an all-time high. Five-room flats are highly sought after in mature estates like Queenstown because they are spacious and have all the amenities nearby. This latest S$1.65 million transaction underscores the investment value of public housing in prime locations. At the same time, it blurs the price line between public and private housing. Featured image by Depositphotos (for illustration purposes only)
AsiaOne
2 days ago
- AsiaOne
This 'officer' never sleeps : Geylang Serai market carpark to have digital sentry to keep watch on errant motorists, Singapore News
A new enforcement 'officer' will be deployed at the carpark next to Geylang Serai Hawker Centre and Market to keep watch on errant motorists. The 'officer', or a digital sentry system, will be implemented following multiple complaints about frequent traffic congestion at Deck 3A of Block 2, Geylang Serai Road. In a Facebook post on Tuesday (June 10), Associate Professor Muhammad Faishal Ibrahim, who is MP for Kembangan at Marine Parade-Braddell Heights GRC, highlighted the issue and noted that the congestion situation has inconvenienced many residents and visitors. He expressed concern for the safety of seniors and individuals with mobility issues, who may be obscured from the view of oncoming vehicles due to the traffic buildup. While parking enforcement officers have been actively managing the situation, Prof Faishal pointed out that their efforts are not a sustainable solution, as some motorists resume parking and waiting in the area once the officers leave. To address the issue, HDB will pilot the use of a digital sentry system at the carpark. "Motorists who choose to continue waiting at the area blocking the traffic flow will have their licence plates recorded, and enforcement action will be taken," said Prof Faishal. Developed by local firm Smartguard, the digital sentry provides round-the-clock surveillance and is equipped with features such as loitering detection, fire and smoke alerts, and licence plate recognition. It is also equipped with LED displays for real-time information sharing and three-way sirens for active deterrence. [[nid:677719]]
Independent Singapore
3 days ago
- Independent Singapore
Queenstown 5-room flat resold for S$1.66 million, setting new record
SINGAPORE: A five-room loft unit at SkyTerrace@Dawson has fetched a staggering S$1,658,888, setting a new record for the highest resale price of a five-room HDB flat according to official data released by the Housing and Development Board (HDB). The premium loft apartment, located on the 22nd to 24th floors of Block 92 Dawson Road, spans 122 square metres and is part of the highly sought-after SkyTerrace@Dawson development in Queenstown. The sale was completed earlier this month. Built under HDB's Build-To-Order (BTO) scheme as part of its efforts to rejuvenate mature estates, SkyTerrace@Dawson is known for its award-winning architecture, greenery-lined sky terraces, and proximity to amenities such as Queenstown MRT and Dawson Place. The unit is approximately nine years old and still has 89 years and 11 months left on its 99-year lease. While the sale marks a new high in HDB's public resale transaction records for five-room flats, it falls just shy of an even higher-profile transaction from last year. In July last year, a five-room flat at SkyOasis@Dawson was reportedly sold for nearly S$1.73 million, drawing attention for being the priciest HDB resale flat on record. However, that sale doesn't show up in HDB's official transaction database. Such high resale prices have sparked ongoing debate. As more million-dollar flats hit the market, questions about the affordability of HDB flats persist.
