Since 2012, million-dollar HDB flats have become prevalent across the island, and the prospect of resale prices reaching two million dollars is no longer as distant as before.

According to reports from Lianhe Zaobao and The Straits Times, as of the end of October this year, Singapore has seen 377 million-dollar HDB flats, surpassing the 369 recorded for the entire previous year.

What's particularly astonishing is that 41 million-dollar HDB flats completed transactions in just October, setting a new historical high.

The top-floor five-room unit at The Peak, a private HDB flat in Bukit Batok, was sold for SGD 1,568,8888, once again breaking the resale price record. This phenomenon has heightened anxiety among potential buyers but fulfilled dreams for sellers.

According to a hypothetical analysis by real estate platform Stacked Homes, assuming no external disturbances, the first two-million-dollar HDB flat in Singapore may appear between 2034 and 2039, based on the current average resale price growth rate. However, this prediction doesn't solely rely on price trends but also considers the impact of the growth rate of the resident population and median wages.

Population growth is expected to drive an increase in housing demand, thereby pushing up housing prices. Staked Homes suggests that to achieve an average resale price of SGD 758,399 and further witness the first two-million-dollar resale HDB flat, the local resident population may need to grow to 4,591,148, which could happen around 2034 to 2035.

Moreover, the growth of median wages will also affect the highest resale price. To achieve a two-million-dollar maximum resale price for an HDB flat, the median wage may need to rise to between SGD 7,033 and SGD 7,169, possibly by 2039.

However, these predictions share a common assumption that there is no government intervention. In reality, the government is likely to implement corresponding policies to address this challenge.

Therefore, seeing HDB resale prices surpassing two million Singapore dollars might be a post-2040 occurrence. This implies that we have at least 17 years to prepare. Nonetheless, the rule of thumb remains: the sooner you invest in property, the better.

In addition to concerns about the highest resale price, attention should also be given to the rate of increase in the average resale price of HDB flats. This can more accurately reflect the overall market trend. The government might take measures to stabilize housing prices, ensuring that the growth in residents' income can keep up with the rise in housing prices, allowing residents to afford homeownership.