With the fresh new record of a $1.4 million HDB flat being sold at Henderson, it has yet again sparked conversations about whether HDB prices are getting increasingly unaffordable. Which brings to mind a statement from the Ministry of National Development (MND) in November 2021 that “HDB new and resale flats continue to remain affordable, as incomes have generally kept pace with new and resale flat prices over the past few years.” You might have also seen this separate Reddit post, which was highlighted in one of our previous articles, where we discussed if our household income has outpaced growth in property prices, particularly those of private properties. But unlike private properties, HDB flats are priced to be affordable by the masses to promote homeownership in Singapore. So, MND’s statement was aligned with this intent. Let’s look at the data for ourselves to see how it plays out....