HDB resale volume rebounds by nearly 15% in January

The resale prices also rose by 1.4%. 

The Housing and Development Board (HDB) resale volume in January rebounded by 14.9%, compared to December, the SRX and 99.co reported.

On a year-on-year basis, the HDB resale volume grew by 5.4% from the previous year.

Moreover, HDB resale prices grew by 1.4% in January from December and by 8.7% from January 2022.

“The HDB resale market continues to be extremely resilient even in the face of two rounds of cooling measures within nine months and high resale prices that are stretching homebuyers’ budgets,” Pow Ying Khuan, Head of Research, 99 Group, said.

“HDB resale volumes rebounded in January 2023, which is traditionally considered as one of the lull months given the various holidays and festivities during this period.”

Read more: HDB resale prices ‘soften’ after September cooling measures

Khuan added that resale prices picked up again as 4RM outperformed with a 2.3% rise.

The sale of flats valued at more than $1m also reached 40 in January, which is the second-highest number.

“It remains to be seen if the price and volume surge observed in January data would continue for the rest of the year, even though in any case we expect prices to remain strong while demand continues to outweigh supply.”