HDB Prices wraps up 2023 with an all-time high. | Singapore Property News

HDB Prices wraps up 2023 with an all-time high.

08 Jan 2024
Property Data
  1. HDB resale prices increased by 0.6% in December 2023 compared to November 2023. Both Mature and Non-Mature Estates prices increased by 0.4% and 0.5% respectively as compared to November 2023. In terms of room types, 3 Room prices increased by 0.1%, 4 Room prices increased by 1%, 5 Room prices increased by 0.5% and Executive prices increased by 0.2%.

fig1 spi
fig2 spi typefig3 median price

According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, the overall price increase is 5.8% from December 2022.

  • Year-on-year, prices for all room types increased over December 2022: 3 Room by 4%, 4 Room by 7.1%, 5 Room by 4.9% and Executive by 5.1%.

  • Mature and Non-Mature Estates prices increase by 5.9% and 5.5% respectively from a year ago.

fig4 maturity graph

fig5 maturity table

  1. 2,006 HDB resale flats are transacted in December 2023, representing a 6.2% decrease from November 2023. 

  • Year-on-year, resale volume in December 2023 is 10.5% lower than the previous year. 

  • Breaking it down by room type, in December 2023, 25.9% of the volume came from HDB 3 Room, 44.6% from 4 Room, 23.5% from 5 Room and 6.0% from Executive. 

  • Breaking it down by estate, 61.8% of the resale volume in December 2023 came from Non-Mature Estates. The remaining 38.2% in the month are from Mature Estates. 

fig6 vol

fig7 vol by type

fig8 vol by maturity

  1. The highest transacted price for a resale flat in the month is achieved at $1,420,000 by a 5 Room Flat at Cantonment Rd

    • In Non-Mature Estates, the highest transacted price is achieved at $1,038,000 by an executive apartment at Woodlands St 81.

  1. In December 2023, there are 47 HDB resale flats transacted for at least $1,000,000, representing an increase from November 2023 which recorded 45 such units. 

  • The number of million-dollar flats sold comprise 2.3% of the total resale volumes in the month.

  • Ang Mo Kio records seven units of million-dollar flats sold in the month, followed by Kallang Whampoa which records six units.

  • The rest of the million-dollar flats come from Bukit Merah, Queenstown, Toa Payoh, Central Area, Clementi, Bishan, Bukit Timah, Woodlands, Serangoon, Jurong East and Geylang.

fig9 million graph

fig10 million table

combines advanced technology with personalized service to help you achieve your property goals.