Race and Citizenship Status of HDB Flat Owners Whose Flats Sold for Over $1 Million

Mr Leong Mun Wai asked the Minister for National Development for each year since 2020, what is the breakdown by race and citizenship status of HDB flat owners whose HDB flats sold for at least $1 million.

Mr Desmond Lee: From 2020 to 1H2024, only about 1% of HDB flats were transacted at $1 million and above. Given the year-to-year fluctuations, we have provided the aggregated analysis for such transactions that: (a) almost all sellers were Singapore citizen households; and (b) the annual proportion of Chinese sellers ranged between 86% and 93%. Accordingly, the proportion of sellers from other ethnic groups ranged between 7% and 14%.