HDB Resale Price Rose 1.2%, Record-High Thirteen Million-Dollar Flats Transacted in October 2020

1. HDB resale price increases 1.2% in October 2020 compared to September 2020. Mature and Non-Mature Estates prices increase 1.2% and 1.1% respectively, as compared to September 2020.  In terms of room types, 3 Room, 4 Room, 5 Room and Executive prices increase by 1.3%, 1.2%, 0.5% and 1.0% respectively.







According to the SRX Property Price Index for HDB Resale:

• Prices in October 2020 are 4.5% higher than the preceding year.
• October 2020 prices are 10.4% lower than the peak in April 2013.
• Prices for all room types are higher than a year ago: 3 Room by 3.4%, 4 Room by 4.8%, 5 Room by 3.3% and Executive by 2.4%.
• Year-on-year, Mature and Non-Matures Estates prices increase by 2.6% and 5.7% respectively. 

2. 2,436 HDB resale transactions in October 2020, representing a 2.1% decrease from September 2020.

• Year-on-year, resale volume in October 2020 is 10.1% higher than the previous year.
• Breaking down by room types, in October 2020, 41.5% of the volume comes from HDB 4 Room, 26.4% from 5 Room, 20.8% from 3 Room and 9.6% from Executive. The rest are from 2 Room and Multi-Gen.
  
  

3. The highest transacted price for a resale flat in the month is achieved at $1,208,000 by a 5 Room DBSS unit at Natura Loft; In Non-Mature Estates, the highest transacted price is achieved at $820,000 by an Executive Maisonette unit at Jurong East St 21.

• In October 2020, there are 13 HDB resale flats transacted for at least $1,000,000.
• This is the record high number of million-dollar flats transacted in a month.

4. Overall median Transaction Over X-Value (T-O-X) is POSITIVE $3,000 in October 2020. This represented an increase of $1,000 from September 2020. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.

• HDB 3 Room, 4 Room and 5 Room register POSITIVE $1,000, $4,000 and $4,000 median T-O-X respectively while Executive records a NEGATIVE $1,000.
• Yishun posts the highest median T-O-X at POSITIVE $10,000 in October 2020, followed by Geylang and Jurong West at POSITIVE $7,000.
• Ang Mo Kio and Clementi post the lowest median T-O-X at NEGATIVE $7,000, followed by Queenstown at NEGATIVE $6,100.
• T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.