HDB Resale Prices on the rise; Resale volume increases month on month in October 2023 | Singapore Property News

HDB Resale Prices on the rise; Resale volume increases month on month in October 2023

09 Nov 2023
Property Data
  1. HDB resale prices increased by 0.5 % in October 2023 compared to September 2023. Non-Mature Estates prices increased by 0.8% while Mature Estates increased by 0.6%, as compared to September 2023. In terms of room types, 3 Room prices increased by 0.3%, 4 Room prices increased by 0.7%, 5 Room prices decreased by 0.4% and Executive prices increased by 1.7%.

fig1 hdb spi
fig2 spi property type
fig3 median resale

According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, the overall price increase is 5.3% from October 2022.

  • Year-on-year, prices for all room types increased over October 2022: 3 Room by 4.9%, 4 Room by 6.2%, 5 Room by 4.5% and Executive by 7.4%.

  • Mature and Non-Mature Estates prices increase by 5.0% and 5.7% respectively from a year ago.

fig4 mature nonmature graph
fig5 mature nonmature table

  1. 2,200 HDB resale flats are transacted in October 2023, representing an 10.8% increase from September 2023. 

  • Year-on-year, resale volume in October 2023 is 12.0% higher than the previous year. 

  • Breaking it down by room type, in October 2023, 25.2% of the volume came from HDB 3 Room, 47.4% from 4 Room, 21.9% from 5 Room and 5.5% from Executive. 

  • Breaking it down by estate, 62.2% of the resale volume in October 2023 came from Non-Mature Estates. The remaining 37.8% in the month are from Mature Estates. 

fig6 resalevol chart

fig7 resalevol piechart

fig8 resalevol estates

  1. The highest transacted price for a resale flat in the month is achieved at $1,450,000 by a 5 Room Flat at Henderson Rd

    • In Non-Mature Estates, the highest transacted price is achieved at $995,888 by a executive apartment at Jurong East St 21

  1. In October 2023, there are 41 HDB resale flats transacted for at least $1,000,000, representing a decrease from September 2023 which recorded 42 such units. 

  • The number of million-dollar flats sold comprise 1.9% of the total resale volumes in the month.

  • Bishan, Bukit Merah records seven units of million-dollar flats sold in the month, followed by Queenstown which records six units.

  • The rest of the million-dollar flats come from Clementi, Kallang/Whampoa, Ang Mo Kio, Toa Payoh, Central Area, Bukit Timah, Geylang, Serangoon.

fig9 milliondollar chart
fig10 milliondollar stats
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