HDB Resale Prices Climbed for Fifth Straight Month, Thirteen Million-Dollar Flats Transacted Again in November 2020

1. HDB resale price increases 1.0% in November 2020 compared to October 2020. Mature and Non-Mature Estates prices increase 0.7% and 1.3% respectively, as compared to October 2020.  In terms of room types, 3 Room, 4 Room, 5 Room and Executive prices increase by 1.3%, 0.6%, 1.0% and 1.3% respectively.

According to the SRX Property Price Index for HDB Resale:

• Prices in November 2020 are 5.0% higher than the preceding year.
• November 2020 prices are 9.5% lower than the peak in April 2013.
• Prices for all room types are higher than a year ago: 3 Room by 4.6%, 4 Room by 4.2%, 5 Room by 4.5% and Executive by 2.5%.
• Year-on-year, Mature and Non-Matures Estates prices increase by 3.4% and 6.0% respectively.

2. 2,331 HDB resale transactions in November 2020, representing a 4.3% decrease from October 2020.

• Year-on-year, resale volume in November 2020 is 21.7% higher than the previous year.
• Breaking down by room types, in November 2020, 41.9% of the volume comes from HDB 4 Room, 26.6% from 5 Room, 22.1% from 3 Room and 8.2% from Executive. The rest are from 1 Room, 2 Room and Multi-Gen.

3. The highest transacted price for a resale flat in the month is achieved at $1,248,000 by a 5 Room unit at The Pinnacle @ Duxton; In Non-Mature Estates, the highest transacted price is achieved at $810,000 by a 5 Room DBSS unit at Parkland Residences.

• In November 2020, there are 13 HDB resale flats transacted for at least $1,000,000.

4. Overall median Transaction Over X-Value (T-O-X) is POSITIVE $1,000 in November 2020. This represented a decrease of $2,000 from October 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 registers a NEGATIVE $2,000 while 4 Room, 5 Room and Executive register POSITIVE $2,000, $2,000 and $4,300 median T-O-X respectively.
• Serangoon posts the highest median T-O-X at POSITIVE $11,000 in November 2020, followed by Bukit Panjang and Choa Chu Kang at POSITIVE $8,000.
• Bishan posts the lowest median T-O-X at NEGATIVE $12,000, followed by Toa Payoh at NEGATIVE $11,000.
• T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.