HDB Prices continues to rise in Feb 2024, Volume drops during festive season. | Singapore Property News

HDB Prices continues to rise in Feb 2024, Volume drops during festive season.

04 Mar 2024
Property Data
  1. HDB resale prices increased by 0.5% in February 2024 compared to January 2024. Both Mature and Non-Mature Estates prices increased by 0.5% and 0.3% respectively as compared to February 2023. In terms of room types, 3 Room prices increased by 0.9%, 4 Room prices increased by 9.6%, 5 Room prices decreased by 0.4% and Executive prices increased by 0.7%.

    fig1 spi

    fig2 spi type

    fig3 median

According to the SRX Property Price Index for HDB Resale:

  • Year-on-year, the overall price increase is 6.4% from February 2023.

  • Year-on-year, prices for all room types increased over February 2023: 3 Room by 5.4%, 4 Room by 6.3%, 5 Room by 7.0% and Executive by 6.2%.

  • Mature and Non-Mature Estates prices increase by 6.1% and 5.9% respectively from a year ago.

    fig4 maturity graph

    fig5 maturity table

  1. 2,134 HDB resale flats were transacted in February 2024, representing a 18.8% decrease from February 2024. 

  • Year-on-year, resale volume in February 2024 is 15.4% higher than the previous year. 

  • Breaking it down by room type, in February 2024, 24.9% of the volume came from HDB 3 Room, 42.5% from 4 Room, 23.1% from 5 Room and 6.4% from Executive. 

  • Breaking it down by estate, 64.3% of the resale volume in December 2023 came from Non-Mature Estates. The remaining 35.7% in the month are from Mature Estates. 

    fig6 vol

    fig7 vol maturity

    fig8 vol maturity barchart

  1. The highest transacted price for a resale flat in the month is achieved at $1,480,000 by an Executive flat at Bishan St 24

  • In Non-Mature Estates, the highest transacted price is achieved at $1,045,000 by an executive apartment at Hougang Ctrl.

  1. In February 2024, there are 50 HDB resale flats transacted for at least $1,000,000, representing a decrease from January 2024 which recorded 74 such units. 

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

  • Queenstown records nine units of million-dollar flats sold in the month, followed by Toa Payoh which records six units.

  • The rest of the million-dollar flats come from Kallang Whampoa, Ang Mo Kio, Bukit Merah, Bukit Timah, Clementi, Bishan, Central Area, Serangoon, Woodlands, Geylang, Hougang and Bedok

    fig9 million graph

    fig10a million table
    fig10b million table

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