HDB resale prices up 5.8% in December 2023

Not less than 47 HDB units were resold for at least a million dollars during the month.

HDB resale prices inched up by 0.6% in December 2023 compared to a month earlier and is 5.8% higher than in the same month in 2022, latest data from the 99-SRX showed.

All room types recorded price increases during the month compared to a year earlier: Prices of 3 Room units rose by 4%, 4 Rooms by 7.1%, 5 Room by 4.9%, and Executive by 5.1%. 

Mature and Non-Mature Estates prices rose by 5.9% and 5.5%, respectively, compared to December 2022.

Volume-wise, a total of 2,006 HDB flats were resold in December 2023, 6.2% lower than in November 2023 and 10.5% lower than in December 2022.

HDB 4 Room units were the most in demand, making up 44.6% of the total resale volume, followed by 3 Room (25.9%), 5 Room (23.5%), and Executive units (6%).

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By estate, 61.8% of the resale volume in December 2023 came from Non-Mature Estates, and 38.2% are from Mature Estates. 

At least 47 HDB flats were resold for at least S$1m in December 2023. Seven-million-dollar units were resold in Ang Mo Kio, followed by Kallang Whampoa, where six units were resold for at least a million dollars.

A 5 Room flat at Cantonment Rd, resold for S$1.42m, achieved the month’s highest transacted resale price.

In Non-Mature Estates, the highest transacted price is $1.038m, achieved by an executive apartment at Woodlands St 81.

Apart from Ang Mo Kio and Kallang Whampoa, other million-dollar resale units were located at Bukit Merah, Queenstown, Toa Payoh, Central Area, Clementi, Bishan, Bukit Timah, Woodlands, Serangoon, Jurong East and Geylang.