HDB resale prices up 0.3% in January

Five-room prices inched up by 1.2% and executive rooms rose by 0.9% YoY.

HDB resale prices rose 1% YoY and 0.7% MoM as all room types posted monthly increases, according to an SRX report. However, the monthly figure is 13% lower than the peak in April 2013.

Also read: HDB resale prices up 0.3% in January

On a YoY basis, three-room prices dipped 0.5%, whilst the rest of the room types grew. Four-room HDB prices inched up by 0.7%, five-room by 1.2% and executive by 0.9% YoY.
Mature estates prices slipped 0.6% YoY and non-mature estates prices went up by 2.2% YoY

Meanwhile, three-room prices rose 0.6% MoM, four-room by 0.1% MoM, five-room by 1.1% MoM and executive by 0.9% MoM. Mature estates prices increased by 1.3% MoM, whilst non-mature estates prices slid 0.3% MoM.

There were 1,668 HDB resale transactions in February, which showed a 26.9% YoY rise and a 13.1% MoM decline. Nearly half, or 44.2%, of the volume comes from HDB four-room, 24.5% from five-room, 22.1% from three-room and 6.8% from executive.

“Although the resale volume dipped on a MoM basis, it surged significantly when compared to the same period a year ago, registering the best performing February sales since 2017,” said Christine Sun, head of research & consultancy at Orange Tee & Tie. “This may indicate that the recent policy changes played an instrumental role in turning around market sentiments and sustaining demand for resale flats.”

SRX further noted that the highest transacted price is at $1.1m by a five-room unit at Commonwealth Drive. Amongst non-mature estates, the highest transacted price was at $858,000 by an executive maisonette unit at Hougang St. 21.

Five-room HDB resale flats were sold for at least $1m in February.

Overall median transaction over X-value (T-O-X) is positive $2,000 in the same month, which is a $2,500 increase from January 2020. HDB three-room recorded negative $1,000 median T-O-X, whilst HDB four-room, five-room and executive posted positive $2,000, positive $3,000 and positive $11,000, respectively.

Serangoon has the highest median T-O-X at positive $14,000 in February 2020, followed by Geylang at positive $7,000. Marine Parade posted the lowest median T-O-X at negative $26,000, followed by Bishan at negative $24,500.

SRX added that an estimated 6,799 flats will become eligible to join the HDB resale market in the next three months.