HDB resale prices up 1.1% MoM in April

On a yearly basis, overall price for HDB resale increased by 11.9%

HDB resale prices were up by 1.1% in April 2022 compared to March 2022 whilst on a yearly basis, overall price increased by 11.9%, according to property firms, 99.co and SRX.

Meanwhile, HDB resale transactions were at 2,273 in April 2022, which increased by 0.2% from March 2022. But resale volume this month is 2.9% lower than the same period last year.

Across room types, in April 2022, 43.7% of the resale volume is from HDB 4 Room, 25.6% from 5 Room, 21.8% from 3 Room, and 7.4% from Executive. 

This month, there were also 22 HDB resale flats purchased for at least $1,000,000, representing a decrease from March 2022 in which 27 such units were transacted.

Commenting on the property firms’ data, Huttons Asia CEO Mark Yip said they predict that more flats could be put up for sale, which will ease the supply crunch. He added that price gains for the HDB market may increase 8% in 2022.

Real estate expert, OrangeTee, said young couples may opt to buy to open market even as there is an extended completion period for some new flats.

But it warned that construction delays for some BTO flats could be aggravated by the ongoing global supply chain disruptions and cost pressures.