HDB resale prices up 1.4% YoY as transaction volumes rebound in March

Housing & Development Board (HDB) resale prices rose 1.4% year on year (YoY) in March, according to a 99-SRX report with prices for 3-room, 4-room, 5-room, and Executive flats increased 1%, 0.9%, 2%, and 3.9% respectively.

Mature Estates rose 2.7% YoY, whilst Non-Mature Estates increased 0.6%.

A total of 2,053 flats were transacted in March, up 22.9% from February and 7.4% YoY. Four-room flats accounted for 45% of sales, with 3-room flats at 25.1%, 5-room flats at 24.5%, and Executive flats 5.3%. Non-Mature Estates made up 56.7% of transactions, with Mature Estates at 43.3%.

The highest resale price was almost $1,65m for a 5-room flat at Tiong Bahru View whilst an Executive flat at Woodlands Street 82 resold for $1.15m was the top transaction for Non-Mature Estates.

​March also saw 145 flats sold for at least $1m, up from 122 in February, making up 7.1% of total transactions. Toa Payoh recorded 34 million-dollar flats, followed by Bukit Merah with 23 and Ang Mo Kio with 18.

On a month-on-month (MoM) basis, overall resale prices fell by just 0.1%. Prices in Mature Estates gained 0.3% and Non-Mature Estates 0.2%. By flat type, 3-room, 5-room, and Executive flats increased 0.4%, 1.1%, and 1.8%, whilst 4-room flats declined 0.7%.

Other transactions occurred across Queenstown, Kallang/Whampoa, Clementi, Bukit Timah, Geylang, Serangoon, Bishan, Central Area, Sengkang, Tampines, Bedok, Woodlands, Pasir Ris, Jurong East, Marine Parade, Hougang, and Bukit Batok, the report found.