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Property Data05 Sep 2019

HDB Resale Prices Increase Slightly in August; Volumes Lower

1. HDB resale prices increase by 0.1% in August 2019 over July 2019. HDB 3 Room and 4 Room prices remain flat while 5 Room and Executive prices fall by 0.1% and 1.5%, respectively. Non-Mature Estates price increases by 0.3%, while Mature Estates price decreases by 0.1% as compared to July 2019.

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According to the SRX Property Price Index for HDB Resale:

  •  Prices in August 2019 went lower by 0.6% from preceding year.
  •  August 2019 prices is 14.1% lower than the peak in April 2013.
  •  Year-on-Year, Non-Mature Estates price increase 0.4% while Mature Estates price decrease 2.1%.
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2.1,921 HDB resale transactions in August 2019, representing a 9.4% decrease from July 2019.

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  •  Year-on-year, resale volume in August 2019 was 7.6 % lower than the previous year.
  •  Breaking down by room types, in August 2019, 42.2% of the volume comes from HDB 4 Room, 23.7% from 5 Room, 23.4% from 3 Room and 8.3% from Executive. The rest are from Multi-Gen and 2 Room.

3. The highest transacted price for a resale flat in the month was achieved at The Pinnacle @ Duxton, where a 5 Room unit was sold for $1,200,000. It is also one of the eight HDB units to have achieved more than $1,000 per square foot, so far this year.
  •  In Non-Mature Estates, the highest transacted price was a 22-year-old Executive unit at Hougang transacted for $831,500.

4. Overall median Transaction Over X-Value (T-O-X) is NEGATIVE $1,000 in August 2019. This represented no change as compared to July 2019. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX Property X-Value estimated market value.

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  • Only HDB Executive witnessed POSITIVE median T-O-X $3,000 in August 2019, while HDB 3 Room, 4 Room and 5 Room recorded NEGATIVE median T-O-X $3,000, $1,000 and $1,000 respectively.
  •  Bukit Batok posted the highest median T-O-X at POSITIVE $11,000 in August 2019, followed by Jurong East at POSITIVE $5,500.
  •  Bishan posted the lowest median T-O-X at NEGATIVE $17,000, followed by Geylang at NEGATIVE $7,000.
  •  T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.

 

5. An estimated 1,511 flats will become eligible to join the HDB resale market in the next three months, based on SRX data, as these units approach their respective 5-year Minimum Occupation Period.
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HDB Resale Prices Increase Slightly in August; Volumes Lower
HDB resale prices increase by 0.1% in August 2019 over July 2019. HDB 3 Room and 4 Room prices remain flat while 5 Room and Executive prices fall by 0.1% and 1.5%, respectively.
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Rental Volumes Up; Non-landed Rents Increase, HDB Rents Flat.
Both Non-Landed Private Residential and HDB Volume Increased in July 2019
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