Khaw eases fears over $1m flat price

News of a Housing Board flat being sold for a record $1 million may be swirling, but National Development Minister Khaw Boon Wan urged Singaporeans not to be "traumatised".

There will always be "units with fantastic views that fetch fantastic prices", he said of the sale of the executive maisonette in Queenstown, which is still in the works. The price includes a cash over valuation (COV) of $195,000.

"More important is the larger picture," Mr Khaw said at a dialogue with Sembawang grassroots leaders.

"Are prices affordable generally for most units? I think we have largely achieved that in the last few months with the pricing of the new Build-to-Order flats."