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With the booming of the HDB resale market, we have seen resale flat prices hitting a record high in the third quarter of this year. A record number of HDB flats has also been seen crossing over the $1 million mark, 174 to be exact, and in just the first nine months of 2021. A huge jump as compared to the 82 $1 million flats sold in the whole of last year. With all these in mind, the government has decided to bring about a new measure that would ensure that public housing remains affordable, especially in prime locations where most of the million dollar big ticket sales have been occurring. This new measure comes in the form of the new Prime Location Public Housing (PLH) model.

So what is the Prime Location Public Housing (PLH) model and why was it introduced?

The PLH model was first introduced on October 26 by National Development Minister Desmond Lee. It was introduced with the main aim of keeping public housing in prime/central locations like the city centre and the Greater Southern Waterfront affordable, accessible and inclusive for all Singaporeans both at the initial purchase and at subsequent purchase on the open market.

Who will be affected by the PLH model?

The PLH model only applies to future HDBs, not existing ones, so current home owners need not worry about the PLH model. For example, The PLH model will apply to the new pilot project at Rochor, which is a new BTO November 2021 sales exercise located along Kelantan Road. It will not, however, apply to older projects like the Pinnacle @ Duxton, for instance. 

How many PLH model HDBs will there be?

According to Mr Desmond Lee, the exact number of projects launched each year under this model will depend on site availability and overall supply of flats across all towns. However, we do know that at least one prime location HDB project will be launched every year. 

Read more: The Prime Location Public Housing (PLH) Model: What you need to know

List of successful enbloc in Singapore

We're updating a running list of projects which have successfully sold enbloc in Singapore since 2017. Do let us know if we missed out any!

Enbloc to support the continued increase in residential prices

The number of enbloc properties is a key factor to watch, as it is expected to support the continued increase in residential prices in the short-medium term. Lucky owners are receiving a big payout, and if that was their primary home, they will be forced to recycle this cash back into the property market. While some older folks may choose to downgrade to a HDB, this supports HDB prices and closes the price gap between HDB and condo, helping others to upgrade. In addition, an enbloc temporarily removes completed housing stock in Singapore for the period of the construction (up to 4 years), pushing up the rental market. 

How to spot condos that are likely to enbloc

Condos which are most likely to enbloc have a number of attributes. First, they are likely older developments (>20 years), where the design and appearance of the condo are outdated, and facilities have been damaged by wear and tear over the years, leading to a price discount compared to newer condos. Second, the development plot ratio has not been maximised. If a condo was built up to a plot ratio of 0.8x in the 1990s and the current URA master plan is now at 1.4x, the unutilised plot ratio can only be maximised by tearing down and rebuilding the condo in an enbloc. You can easily check the allowable plot ratio under the current URA master plan here: https://www.ura.gov.sg/maps/?service=MP. The existing development plot ratio is not that easy to find though, and you can check with the current MCST, or do a rough back of envelope calculation based on number of units and the average sizes of the 1,2,3,etc bedroom units. 

Read more: List of successful en bloc condos in Singapore 2021

So you’ve decided to buy a condo. Now, you’re probably asking yourself, which is the better choice? Buying a brand new or a resale condo? - Which one of the two is a better investment? Which option makes the most monetary sense? These questions can be answered depending on the purpose of your purchase. 

First you have to ask yourself, why are you buying a condo? Are you looking for en bloc potential to turn a profit? Are you trying to find a nice home for yourself and your family? Or are you looking to find the right place that can make passive income through rental yield? Each of these questions lead to different answers. Once you’ve got your intention for purchase, you can start to explore your options. 

In this article we will be comparing new launch and resale condominiums. What makes each of them unique and what are the key selling points for each condominium. Let’s begin.

Read more: New Launch vs Resale Condos: What you need to know before buying

When it comes to buying a HDB flat, oftentimes the debate of which home loan to get to finance your new flat comes to mind. 

Of course if you ask any fresh new homeowners, or heck, even any HDB home owner, more often than not, they would immediately tell you to opt for a HDB loan. But why? Is a HDB home loan truly better than a bank loan, or is everyone just quick to pick the HDB loan because everyone else is telling them to?

This begs the question, HDB loan vs bank loan? Which is better? Or more importantly, which is better for you? Obviously both loans carry their own merits. One can’t just simply say that one is better than the other. The two have their own personal pros and cons and it really depends on the preference of each individual.

That is exactly what we will be covering in today’s article. And to make it even simpler for you, we have put it in table format so that you can easily compare the two to see which better suits you and your needs.

Read more: HDB loan vs bank loan, which is better for you?

The Urban Redevelopment Authority (URA) has just released its flash estimates for the 2nd Quarter private residential property.

From this, we can learn that private home prices have continued to rise since the last Quarter. In fact, private home prices has increased 0.9% since the 1st Quarter of 2021, marking the market's fifth consecutive quarterly rise.

Overall, the private residential property index increased from 162.2 in the 1st Quarter to 163.7 in this Quarter, tallying a total increase of 1.5 in just 3 months. 

Prices of landed properties shown a rise of 0.8% in this quarter while non-landed properties 0.9%. Of which non-landed properties in the CCR increased by 0.6%, RCR increased by 0.3% and OCR showing the highest increment of 1.8%.



  Price Index Quarterly Change
1Q/21 2Q/21 1Q21 2Q/21
All Residential
162.2 163.7 3.3 0.9


185.4 186.9 6.7 0.8
157.1 158.5 2.5 0.9
CCR 134.3 135.1 0.5 0.6
RCR 170.4 170.9 6.1 0.3
OCR 185.6 188.9 1.1 1.8




(Source: URA Media Release) 


Find out where are all the million dollar HDB flats have been transacted at.

Have you ever seen one of those articles that brag about HDB flats being sold for over a million dollars? It’s pretty hard to believe, but it’s true. If you don’t already know, HDB resale flat prices have increased tremendously last year. You can read all about the increasing HDB resale prices in our recent article here.

But even with its high prices, the demand is still high and people are still buying flats at these exorbitant prices. Being the kpos that we are, we have done a little snooping to find out which exact flats are the ones people are snapping up above the one million dollar mark. 

To get this information, we have used our new and very much free HDB Transacted Prices tool, which is available right here on our website. With this tool, you are able to look around at all the HDB transactions that have taken place from 2015 onwards, if you would need any earlier transactions, you may email us at sales@auctionjia.com.sg and we can get that information personally to you. 

So for example, maybe your best friend has just bought a resale flat in Punggol. By using this tool, you can find out exactly how much he/she bought that flat at. Simply key in the town, street, block number and HDB type, and you will find the data you need.

Now let’s get back to the million dollar transacted HDB flats. As there more than 360 flats that have been transacted over one million dollars, we will not be able to show you all of them in this article. However, you will still be able to access this data when you use our tool mentioned above. Instead we have gathered the top 30 highest transacted HDB flats in the table below, so you can get a general idea of the prices HDB flats can soar up to. As you can see, the highest recorded sale price was $1,258,000 at Cantonment Road just September last year.

In a secondary table, we have also we have included data showing where the hot spots for million dollar flats are, meaning where million dollar flats have been transacted at and how many in each area. 

Read more: Which HDB flats were transacted above one million dollars?

Many Singaporeans turn to resale HDB flats for many reasons. Some make use of the many grants to purchase resale homes as their first flats and some use it to upgrade to bigger flats as a result of selling and profiting from their BTO flats. No matter the reason, it is safe to say that resale HDB flats play a major part in the property market and in our lives as home buyers. 

So that begs the question. Are HDB resale prices rising?


(Image Source: HDB)

Yes, they are. Just last year, we saw an increase in HDB prices of 5%. Its highest climb since 2012 where it rose to 6.5%. This can be seen in the chart above. In some of our previous articles, you would have seen that the private property market has remained resilient through the Covid-19 outbreak and have even seen an increase in resale prices. This too can be said for the resale HDB market. 

In 2020, we saw a sale of 24,748 units in the resale market, a close match up to the 25,094 units that were sold in 2012. 

According to analysts, this is due to the continued increase in demand and prices. With this, they foresee the HDB resale market continuing to flourish in 2021. 

An estimation by analysts concludes that about 25,530 HDB flats will be eligible to be sold in 2021 after reaching its 5 year Minimum Occupation Period (MOP), an increase from the 24,163 flats that have reached their 5 year MOP in 2020.

Analysts also believe that resale prices are expected to increase by another 3 to 5% this year.

Read more: HDB resale flat prices increase 5% in 2020