HDB resale prices up 7% in July, but less flats resold

A total of 2,056 HDB flats were resold during the month, 13% lower than a year ago.

HDB resale prices rose 7% in July compared to a year ago, according to data from 99.co and SRX.

Prices for all room types increased in July compared to the same month in 2022: 3 Room HDB resale prices were up 6.8%; 4 Room HDBs by 7.7%; 5 Room HDBs by 5.8%; and executive HDB resale prices grew 6.5%.

Volume-wise, less flats traded hands compared to a year ago, at only 2,056 HDB flats resold. This is 13% lower than in July 2022.

By room type, 45.2% of HDB resale volumes in July were for 4 room flats, 24.8% are 5 room flats, 23.8% are 3 room flats, and 6.2% are executive flats.

Compared to June 2023, resale volumes grew 10.7%, whilst resale prices were marginally higher by 0.3%.

By estate, 62.7% of the resale volumes in July come from non-mature estates. The remaining 37.3% are from mature estates.

A 5 room DBSS unit at The Peak @Toa Payoh was the month’s highest transacted price, selling for S$1.38m.

In non-mature estates, the highest transacted price is achieved at $1,150,000 by an Executive Apartment at Woodlands Street 82. 

At least 32 HDB flats were resold at S$1m or higher in July 2023, slightly lower than June’s 34 units. These million-dollar flats comprise 1.6% of the total resale volumes in July.

Five of these were at Bukit Merah, whilst Toa Payoh and Kallang/ Whampoa saw 4 HDB units sold for at least a million dollars.