Singapore's public housing market posted a stunning performance last year. There were more than 25,000 resale flat transactions, and this was the highest sales volume recorded in eight years. Prices of resale flats pushed new boundaries in many locations, and the overall price index rose by 5 per cent last year.
The improving market sentiment and rising HDB resale prices made it more favourable for some flat owners to ascend the property ladder. As a result, the number of Singaporeans owning private homes surged substantially.