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I am surprised that 266 Housing Board resale flats transacted for at least $1 million in the first nine months of 2022 ( , Sept 26). Some of these flats are located in the non-mature estates of Woodlands, Yishun, Hougang, Bukit Batok and Punggol. Buyers are willing to fork out such astronomical prices because of the large floor area, proximity to MRT station or a better view. I would like to caution Singaporeans about the risk of taking up a huge housing loan that could mean delayed retirement planning, especially for young people. Bearing in mind the 99-year leasehold nature of an HDB flat, the buyer of a $1 million resale flat must also consider his ability to commit monthly payments for the next few decades at least. With the relentless increase in interest rates, the monthly instalment payments can only go up. Fears of looming recession could mean more retrenchments ahead. I strongly urge Singaporeans, especially the young ones, to consider seriously before committing themselves to buying a home with such a hefty price tag.