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HDB resale prices increase by 0.5% in March 2023 compared to February 2023. Mature Estates and Non-Mature Estates prices increase marginally by 0.7% and 0.5% respectively, as compared to February 2023. In terms of room types, 3 Room prices decrease by 0.3%, 4 Room prices increase by 0.5% while 5 Room prices and Executive prices both increase by 1.3%.
According to the SRX Property Price Index for HDB Resale:
- Year-on-year, the overall price increase is 8.3% from March 2022.
- Year-on-year, prices for all room types increaseover March 2022: 3 Room by 7.7%, 4 Room by 9.0%, 5 Room by 7.9% and Executive by 9.6%.
- Mature and Non-Mature Estates prices increase by 7.6% and 8.5% respectively from a year ago.
- 2,287 HDB resale flats are transacted in March 2023, representing a 23.7% increase from February 2023.
- Year-on-year, resale volumes in March 2023 are 0.8% higher than the previous year.
- Breaking it down by room type, in March 2023, 44.7% of the volumes come from HDB 4 Room, 26.2% from 3 Room, 23.1% from 5 Room and 6.0% from Executive.
- Breaking it down by estate, 57.8% of the resale volumes in March 2023 come from Non-Mature Estates. The remaining 42.2% in the month are from Mature Estates.
- The highest transacted price for a resale flat in the month is achieved at $1,400,000 by a 5-Room unit at The Pinnacle @ Duxton.
- In Non-Mature Estates, the highest transacted price is achieved at $1,023,000 by an Executive Apartment at Woodlands Street 82.
- In March 2023, there are 39 HDB resale flats transacted for at least $1,000,000, representing an increase from February 2023 which recorded 24 such units.
- The number of million-dollar flats sold comprise 1.7% of the total resale volumes in the month.
- Toa Payoh records eight million-dollar flats sold in the month, followed by Central Area with six units while Bukit Merah and Queenstown each records five units.
- The rest of the million-dollar flats come from Bishan, Kallang/ Whampoa, Serangoon, Clementi, Woodlands, Geylang and Hougang.
Footnote:
We have refreshed the HDB Resale index values retrospectively this month due to a technical issue. 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.