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Supporting the Natural Upward Trend in HDB Resale Market: Million-Dollar Flats as a Positive Signal

Published July 28, 2026 at 8:02 AM UTC

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The rise in million-dollar HDB resale flats is not a cause for concern but a sign of a maturing housing market. It shows that HDB flats, especially in prime locations, can appreciate meaningfully over time, rewarding long-term homeowners. The overall slowdown in volume is largely due to buyers waiting for new BTO launches, not a loss of confidence. The million-dollar segment remains a small fraction of total transactions, concentrated in a few estates with strong amenities. This differentiation is natural and mirrors trends in private property. Instead of intervening, policymakers should allow the market to function, as it encourages homeowners to invest in their communities and build wealth. A healthy resale market benefits Singaporeans who bought years ago, giving them options to upgrade or monetize their flats.