HDB resale prices up 4.5% in October

Thirteen HDB units were resold for more than $1m for October, a record for a single month.

HDB resale prices rose 4.5% YoY in October to extend the 3.1% YoY increase reported in September, according to SRX. This is the fourth consecutive month of increase in resale prices.

Prices for all room types were higher than a year ago: 3 room by 3.4% YoY, 4 room by 4.8% YoY, 5 room by 3.3% YoY and executive by 2.4% YoY. Mature and non-matures estates prices also recorded a 2.6% YoY and 5.7% YoY price increase, respectively.

Prices in October are 10.4% lower than the peak in April 2013.

A total of 2,436 HDB resale transactions were recorded during the month, which is 10.1% YoY higher than in October 2019, but 2.1% lower from volumes recorded in September.
Breaking down by room types, 41.5% of the volume in October comes from HDB 4 rooms, 26.4% from 5 Rooms, 20.8% from 3 rooms, and 9.6% from executives. The rest are from 2 room and multi-gen, reports SRX.

Also Read: HDB resale prices up 3.1% in September

Compared to September, HDB resale prices saw a 1.2% MoM rise in October, pushed by mature and non-mature estates prices rising by 1.2% MoM and 1.1% MoM, respectively.  In terms of room types, 3 Room, 4 Room, 5 Room and Executive prices jumped by 1.3%, 1.2%, 0.5% and 1% respectively compared to a month earlier.

Thirteen (13) HDB resale flats were transacted for at least $1m in October, a record high number of million-dollar flats transacted in a month.

Amongst these, highest transacted price for a resale flat is achieved by a 5 room DBSS unit at Natura Loft, which was resold for more than $1.2m.

In Non-Mature Estates, the highest transacted price is achieved at $820,000 by an executive maisonette unit at Jurong East St. 21.