HDB Resale Market Trend Sees 0.1% Price Increase and Rising Transaction Volume in December

1. HDB resale prices increased by 0.1% in December 2024 compared to November 2024. HDB resale prices in Mature Estates remain unchanged, while prices in Non-Mature Estates increased by 0.7%. In terms of room types, 3-room prices decreased by 0.4%, 4-room prices increased by 0.3%, and Executive prices increased by 0.6%, while 5-room prices remain unchanged. 

           According to the SRX Property Price Index for HDB Resale:

• Year-on-year, the overall price increase was 9.8% from December 2023.

• Year-on-year, prices for all room types increased from December 2023: 3-room by 10.7%, 4-room by 10%, 5-room by 8.7%, and Executive by 5.5%.

• Both Mature and Non-Mature Estate prices increased by 9.4% and 9.9%, respectively, from a year ago.

2. 2,129 HDB resale flats were transacted in December 2024, representing a 9.1% increase from November 2024. 

• Year-on-year, resale volumes in December 2024 were 5.9% higher than the previous year.

• Breaking it down by room type, in December 2024, 25.4% of the HDB resale volumes came from 3-room, 46% from 4-room, 22.4% from 5-room, and 6.2% from Executive.

• Breaking it down by estate, 58.6% of the resale volumes in December 2024 came from Non-Mature Estates. The remaining 41.4% in the month was from Mature Estates.

3. The highest transacted price for a resale flat in the month was S$1,539,000 for a 5-room flat at Bishan St 24.

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

4. In December 2024, there were 95 HDB resale flats transacted for at least S$1,000,000, representing an increase from November 2024, which recorded 87 such units.

• The number of million-dollar flats sold comprised 4.5% of the total resale volume in the month.

• Toa Payoh recorded 20 units of million-dollar flats sold in the month, followed by Bukit Merah and Queenstown, which sold 15 units and 10 units, respectively.

• The rest of the million-dollar flat transactions came from Kallang Whampoa, Central Area, Bishan, Geylang, Ang Mo Kio, Serangoon, Woodlands, Tampines, Jurong East, Clementi, and Bukit Panjang.