Announcement: Starting from January 2023 (for December 2022 reports onwards), 99-SRX will be changing the schedule for the following reports:
As government agencies such as HDB and URA have improved in its transparency and timelines in making property transactions public, 99-SRX will also follow their lead in using only publicly-available transactions for our reports. This also ensures transparency and reproducibility by parties seeking to clarify 99-SRX's indexes.
Hence, there will also be fundamental difference in NLP Resale and Rental Flash Reports due to a shift to official data sources:
i. Non-caveated transactions will no longer be used in Volume, Price and Index calculations starting from December 2022's NLP Resale report. Only caveated transactions will be used.
i. Agency transactions will no longer be used in Volume, Price and Index calculations starting from December 2022's NLP and HDB Rental report.
ii. Base index shift from January 2009 to January 2015.
These changes do not affect the broad price trends observed in earlier reports. If you wish to retrieve the previous indexes, send an email to [email protected]
CCR = Core Central Region
RCR = Rest of Central Region
OCR = Outside Central Region
HDB resale prices increased by 0.2% in December 2022 compared to November 2022. Mature Estates prices remain unchanged and Non-Mature Estates prices increased by 0.3%, as compared to November 2022. In terms of room types, 3 Room prices increased by 0.6%, 4 Room prices rose by 0.2%, 5 Room prices increased by 0.3% and Executive prices decreased by 0.4%.
According to the SRX Property Price Index for HDB Resale:
2,242 HDB resale flats are transacted in December 2022, representing a 4.8% increase from November 2022.
The highest transacted price for a resale flat in the month is achieved at $1,300,000 by an Executive Maisonette unit at Toh Yi Drive.
In December 2022, there are 28 HDB resale flats transacted for at least $1,000,000,representing a slight increase from November 2022 which recorded 26 such units.
A. Condo Rental Market
November 2022 rents climbed by 2.0% from October 2022. CCR, RCR and OCR rents increased by 0.8%, 1.5% and 3.4% respectively.
Volumes decreased by 4.5% month-on-month. An estimated 4,160 units are rented in November 2022 as compared to an estimated 4,355 units rented in October 2022.
B. HDB Rental Market
November 2022 HDB rents increased by 1.6% from October 2022. Mature and Non-Mature Estates rents increased by 1.9% and 1.3% respectively. Meanwhile, 3 Room, 4 Room, 5 Room and Executive rents increased by 3.2%, 0.1%, 2.1% and 1.2% respectively.
Volumes decreased by 15.2% month-on-month. An estimated 1,691 HDB flats are rented in November 2022 compared to an estimated 1,995 units in October 2022.
CCR prices increased by 2.7%, RCR prices rose by 1.8% and OCR prices increased by 0.1% in November 2022.
According to the SRX Price Index for Condo Resale:
An estimated 1,124 units are resold in November 2022, a 9.4% decrease from the estimated 1,240 units resold in October 2022.
The highest transacted price for a resale unit in November is achieved at $19,888,000 at Marina One Residences.
The overall median capital gain for resale condos is $333,500 in November 2022, an increase of $27,519 from October 2022.
The overall median unlevered return for resale condos is 30.5% in November 2022.
On the Friday of the first full work week for each month, SRX releases the Singapore Real Estate Exchange Property Index (SPI) as a public service to the community.
SPI differs from other Singapore indices in four distinct ways:
For more information, please refer to the SPI White Paper.
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