HDB Resale Volume Starts 2024 Strong; Prices continue to rise. | Singapore Property News

HDB Resale Volume Starts 2024 Strong; Prices continue to rise.

06 Feb 2024
Property Data
  1. HDB resale prices increased by 1.5% in January 2024 compared to December 2023. Both Mature and Non-Mature Estates prices increased by 1.1% and 1.5% respectively as compared to December 2023. Prices for all room types increased over December 2023: 3 Room by 1.7%, 4 Room by 0.9%, 5 Room by 2.1% and Executive by 0.8%.

    fig1 spi

    fig2 spi type

    fig3 median prices

According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, the overall price increase is 5.7% from January 2023.

  • Year-on-year, prices for all room types increased over January 2023: 3 Room by 4.6%, 4 Room by 5.5%, 5 Room by 6.4% and Executive by 5.2%.

  • Mature and Non-Mature Estates prices increase by 5.4% and 5.5% respectively from a year ago.

    fig4 maturity graph

    fig5 maturity table

  1. 2,629 HDB resale flats are transacted in January 2024, representing a 30.8% increase from December 2023. 

  • Year-on-year, resale volume in January 2024 is 2.1% higher than the previous year. 

  • Breaking it down by room type, in January 2024, 24.1% of the volume came from HDB 3 Room, 45.6% from 4 Room, 23.8% from 5 Room and 6.5% from Executive. 

  • Breaking it down by estate, 62.3% of the resale volume in January 2024 came from Non-Mature Estates. The remaining 37.7% in the month are from Mature Estates. 

    fig6 vol

    fig7 vol type

    fig8 vol maturity

  1. The highest transacted price for a resale flat in the month is achieved at $1,568,888 by a 5 Room Flat at Lor 1A Toa Payoh

  • In Non-Mature Estates, the highest transacted price is achieved at $1,100,888 by an executive apartment at Punggol Field.

  1. In January 2024, there are 74 HDB resale flats transacted for at least $1,000,000, representing an increase from December 2023 which recorded 48 such units. 

  • The number of million-dollar flats sold comprise 2.8% of the total resale volumes in the month.

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

  • The rest of the million-dollar flats come from Toa Payoh, Kallang Whampoa, Ang Mo Kio, Queenstown, Clementi, Bukit Timah, Serangoon, Hougang, Central Area, Geylang, Bedok, Woodlands, Tampines, Pasir Ris and Punggol.

    fig9 million graph

    fig10 million table part1

    fig11 million table part2

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