HDB Resale Prices Register No Increases in February 2023, First Time in 32 Months; Volumes Fall by 28.2% Month-on-Month | Singapore Property News

HDB Resale Prices Register No Increases in February 2023, First Time in 32 Months; Volumes Fall by 28.2% Month-on-Month

09 Mar 2023
Property Data
  1. HDB resale prices remain unchanged in February 2023 compared to January 2023. Mature Estates and Non-Mature Estates prices both decrease marginally by 0.1%, as compared to January 2023. In terms of room types, 3 Room prices increase by 0.3%, 4 Room prices stay flat while 5 Room prices decrease by 0.8% and Executive prices decrease by 0.3%.
 HDB Resale SPI Feb 2023

HDB Resale SPI By Property Type Feb 2023

HDB Median Resale Price Feb 2023

       According to the SRX Property Price Index for HDB Resale:
  • Year-on-year, the overall price increase is 8.3% from February 2022.
  • Year-on-year, prices for all room types increaseover February 2022: 3 Room by 9.0%, 4 Room by 9.4%, 5 Room by 6.6% and Executive by 6.2%.
  • Mature and Non-Mature Estates prices increase by 7.4% and 8.4% respectively from a year ago.
HDB Mature and Non Mature SPI Feb 2023  Part 1
HDB Mature and Non Mature SPI Feb 2023  Part 2
  1. 1,849 HDB resale flats are transacted in February 2023, representing a 28.2% decrease from January 2023.
  • Year-on-year, resale volumes in February 2023 are 2.9% lower than the previous year.
  • Breaking it down by room type, in February 2023, 43.0% of the volumes come from HDB 4 Room, 27.5% from 3 Room, 22.8% from 5 Room and 6.6% from Executive.
  • Breaking it down by estate, 60.9% of the resale volumes in February 2023 come from Non-Mature Estates. The remaining 39.1% in the month are from Mature Estates.
 HDB Resale Volume Feb 2023

HDB Resale Volume Breakdown Feb 2023

HDB Resale Volume Breakdown By Estates Feb 2023
  1. The highest transacted price for a resale flat in the month is achieved at $1,340,000 by a 5-Room unit at The Pinnacle @ Duxton.
    • In Non-Mature Estates, the highest transacted price is achieved at $1,080,000 by an Executive Apartment at Woodlands Street 81.
 HDB Million Dollar Resale Flats Statistics Feb 2023
  1. In February 2023, there are 24 HDB resale flats transacted for at least $1,000,000, representing a decrease from January 2023 which recorded 40 such units.
  • The number of million-dollar flats sold comprise 1.3% of the total resale volumes in the month.
  • Toa Payoh records five million-dollar flats sold in the month, followed by Queenstown with four units while Woodlands and Central Area each records three units.
  • The rest of the million-dollar flats come from Jurong East, Bukit Merah, Bedok, Kallang/Whampoa, Yishun, Geylang and Bishan.
 HDB Million Dollar Resale Flats Ststistics Feb 2023
We have changed our HDB Resale data source to be using only official transactions from HDB. Previously, agency transactions and official transactions were used to supplement the data used to compute the index. The indexes have been retrospectively re-computed and changed to reflect the new data source.
Please email [email protected] to if you wish to get the historical HDB resale indexes prior to this change.
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