What are your thoughts on flats in the HDB resale market sold for more than $1million? Will the uptrend of the HDB resale market continue?

I don't think there is much to think about this. It is very obvious that money is willing to go to prime locations with good amenities like schools, proximity to town etc. Ingrained in the Singaporean mindset is the desire to move towards the CBD if money is not an issue. During the 1990s and early 2000s, boom in asset prices and wages led to one round of upgrading from hdb to some condos. This is the next wave of upgrading where those who can move towards the center. It's like a filtration system, filtering out those who can't and leaving them in the outskirts. Might sound harsh but it is what it is

The trend of higher HDB prices will continue due to a few main factors

1) COVID-19 causing a delay in BTO projects (Less supply of flats)

2) Lack of remaining "free plots" in Prime areas (Unable to build more BTOs in certain constituencies)

3) Increase income potential of Singaporeans (More graduates, 40% cohort participation rate)

However, if there is a property bubble, the government will readily squash it, as it did in the previous few run-ups of property prices, in order to make housing affordable to the average Singaporean. (a key government mandate)