HDB resale volumes decline 28.2% MoM in February

Prices stayed the same for the first time in more than two years.

More than 1,800 HDB resale flats were sold in February 2023, which declined 28.2% from January 2023, SRX and 99.co data revealed.

Year-on-year (YoY), resale volumes fell 2.9% from the previous year. Per room type, 43% come from HDB 4 Room, 27.5% from 3 Room, 22.8% from 5 Room and 6.6% from Executive. Per estate, 60.9% of the resale volumes are from Non-Mature Estates whilst 39.1% in the month are from Mature Estates. 

HDB resale prices stayed the same in February 2023 compared to January 2023. Mature estates and non-mature estates prices decrease marginally by 0.1% compared to the month before.

As per room types, 3 Room prices increase by 0.3%, 4 Room prices stay flat while 5 Room prices decrease by 0.8% and Executive prices decrease by 0.3%.

But on a yearly basis, the overall price went up 8.3% from February 2022. Prices for all room types increased over February 2022, 3 Room by 9.0%, 4 Room by 9.4%, 5 Room by 6.6% and Executive by 6.2%.

Mature and Non-Mature Estates prices grew by 7.4% and 8.4% respectively from a year ago.

The highest transacted price for a resale flat in the month was at $1.34m by a 5-Room unit at The Pinnacle @ Duxton. 

In Non-Mature Estates, the most expensive was at $1,080,000 by an Executive Apartment at Woodlands Street 81.

Pow Ying Khuan, Head of Research, 99 Group, said resale volumes dipped to the lowest since May 2020 after a surge of transaction in the first month of the year.