HDB resale volumes continue decline in March; prices inch up: SRX, 99.co
The number of million-dollar resale flat transactions jumped 22 per cent month on month.
Apr 8, 2024
PUBLIC housing resale prices continued to inch up in March, although volumes fell for the second straight month since the beginning of the year, based on flash data by SRX and 99.co released on Monday (Apr 8).
The number of Housing and Development Board (HDB) flats that changed hands in March fell 3.3 per cent on the month to 2,063 units from 2,134 units. Year on year, volumes were 9.8 per cent lower.
Resale prices were up 0.3 per cent month on month. Gains were recorded in both mature and non-mature estates, which rose 0.5 per cent and 0.6 per cent, respectively.
Compared with the same period last year, overall resale prices were up 6.2 per cent. Both mature and non-mature resale prices rose 6 per cent.
By room type, the largest gain in resale prices was from five-room flats, up 1 per cent on the month, followed by four-room flats, which rose 0.5 per cent. Meanwhile, three-room and executive flats recorded a drop in resale prices, down 0.1 per cent and 0.5 per cent, respectively.
Year on year, resale prices for five-room flats climbed 6.8 per cent, followed by four-room flats, which rose 6.3 per cent. Three-room flats were up 5.6 per cent on the year, while executive flats recorded a resale price gain of 4.4 per cent.
A majority of resale transactions came from four-room flats, which comprised 43.6 per cent of total volumes, followed by five-room flats, which contributed 25.2 per cent. Three-room flats accounted for 24.8 per cent of transactions and 6.4 per cent came from executive flats.
Deals for flats in non-mature estates made up 59.9 per cent of total resale volumes, while mature estate flats comprised the remaining 40.1 per cent.
Jump in million-dollar deals
The number of HDB flats resold for at least S$1 million climbed 22 per cent to 61 deals in March, compared with 50 such deals in February 2024. These transactions made up 3 per cent of total resale volumes in March.
Toa Payoh drew the most million-dollar deals, recording nine such transactions during the month. This was followed by Kallang, Whampoa, Bukit Merah, and Clementi, which registered seven deals.
The rest of the million-dollar resale flat transactions took place in Hougang, Bishan, Central Area, Queenstown, Serangoon, Bedok, Ang Mo Kio, Tampines, Jurong East, Bukit Timah, Bukit Panjang and Yishun, SRX and 99.co said.
The highest transacted price for a resale flat in March was S$1.45 million for a five-room flat at Boon Tiong Road. The most expensive flat resold among non-mature estate flats, meanwhile, was S$1.2 million for an executive apartment at Yishun Ave 4.
https://www.businesstimes.com.sg/pro...inch-srx-99-co
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