HDB Resale Market Trend Sees 1.8% Price Increase While Transaction Volume Continues to Drop in September

1. HDB resale prices increased by 1.8% in September 2024 compared to August 2024. Compared to August 2024, property prices in Mature Estates increased by 2.3%, while prices in Non-Mature Estates increased by 1%.In terms of room types, 3-Room prices increased by 2.3%, 4-Room prices increased by 2.3%, 5-Room prices increased by 1.3%, and Executive prices increased by 0.3%.

       According to the SRX Property Price Index for HDB Resale:

• Year-on-year, the overall price increase was 10% from September 2023.

• Year-on-year, prices for all room types increased from September 2023: 3-Room by 9.7%, 4-Room by 11%, 5-Room by 8.6%, and Executive by 8.2%

• Both Mature and Non-Mature Estate prices increased by 9.2% and 10.3%, respectively, from a year ago.

2. 2,217 HDB resale flats were transacted in September 2024, representing a 14.9% decrease from August 2024. 

• Year-on-year, resale volume in September 2024 was 11.6% higher than the previous year. 

• Breaking it down by room type, in September 2024, 25.8% of the HDB resale volume came from 3-Room, 43.1% from 4-Room, 24.5% from 5-Room, and 6.6% from Executive.

• Breaking it down by estate, 60.5% of the resale volume in September 2024 came from Non-Mature Estates. The remaining 39.5% in the month were from Mature Estates.

3. The highest transacted price for a resale flat in the month was S$1,580,000 for a 5-Room flat at Kim Tian Road.

• In Non-Mature Estates, the highest transacted price was S$1,100,000 for an Executive flat at Woodlands St. 82.

4. In September 2024, there were 106 HDB resale flats transacted for at least S$1,000,000, representing a slight increase from August 2024, which recorded 105 such units.

• The number of million-dollar flats sold comprised 4.8% of the total resale volume in the month.

• Kallang Whampoa recorded 20 units of million-dollar flats sold in the month, followed by Queenstown which sold 13 units, and Bukit Merah and Toa Payoh which respectively sold 12 units.

• The rest of the million-dollar flat transactions came from Ang Mo Kio, Geylang, Bishan, Central Area, Hougang, Tampines, Woodlands, Clementi, Serangoon, Bukit Panjang, Bedok, Jurong East, Marine Parade, Bukit Timah, and Yishun.