HDB resale prices up 6.0 % YoY in May

Prices also inched up by 0.3% MoM.

HDB resale prices increase by 0.3% MoM and 6.0% YoY in May 2024, data from 99.co and SRX showed.

According to the report, mature estates experienced a slight decline of 0.3% whilst non-mature states inched up by 1.1% YoY.

Year-on-year, prices for all room types have increased, with 3 Room by 5.3%, 4 Room by 6.4%, 5 Room by 6.7%, and Executive by 3.9%. Both Mature and Non-Mature Estates have also shown strong growth, increasing by 4.8% and 6.5% respectively.

May 2024 saw 2,513 HDB resale transactions, a 5.3% increase from April 2024. 

Year-on-year, resale volume also grew by 11.2%. 4 Room units dominated transactions at 43.1%, followed by 3 Room (26.9%), 5 Room (22.8%), and Executive (7.2%). Non-mature estates accounted for 59.1% of transactions, whilst mature estates made up 40.9%.

Additionally, May 2024 saw 74 units sold for at least $1,000,000, up from 64 units in April 2024, comprising 2.9% of total resale volumes.