SINGAPORE: Housing & Development Board (HDB) resale prices rose 9.8% year-on-year (YoY) in February, according to data from SRX and 99.co. This marks a continued upward trend in the public housing market despite a decline in transaction volume.
Among the different flat types, 3-room units saw the most significant price increase at 11.4% compared to February last year. Prices for 4-room and 5-room flats rose by 9.5% and 9.2%, respectively, while Executive flats recorded the lowest YoY increase at 7.7%.
In terms of location, resale prices in Mature Estates climbed 10% YoY, slightly outpacing the 9.4% increase in Non-Mature Estates.
On a month-on-month (MoM) basis, resale prices inched up 0.9% from January. The price gains were led by 3-room flats (2.2%), followed by Executive flats (3.1%) and 5-room flats (1%). However, 4-room flats experienced a slight dip of 0.2%.
Despite rising prices, the number of HDB resale transactions dropped by 9.7% from January to 2,104 units. Compared to February 2024, transactions were also down 1.4%.
Of all resale transactions in February, 58.5% took place in Non-Mature Estates, while 41.5% were in Mature Estates. By flat type, 4-room flats accounted for the largest share at 42.9%, followed by 3-room flats (26.8%), 5-room flats (23.8%), and Executive flats (6.5%).
The highest-priced transaction in February was a 5-room flat at Lorong 1A Toa Payoh, which sold for S$1.558 million. In Non-Mature Estates, the priciest deal was an Executive flat at Yishun Street 81, which changed hands for $1.1 million.
Toa Payoh and Bukit Merah led in million-dollar sales, with 21 transactions each. Queenstown and Kallang/Whampoa followed with 14 such sales.
Other high-value transactions were recorded in several estates, including Clementi, Ang Mo Kio, Tampines, Serangoon, Bishan, Geylang, Bedok, Pasir Ris, Hougang, Jurong East, Marine Parade, the Central Area, Bukit Timah, Yishun, Bukit Panjang, and Bukit Batok.
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