HDB resale prices increased 1.8% MoM and 7.3% YoY in June

SINGAPORE: In June 2024, Singapore’s Housing and Development Board (HDB) resale prices maintained their upward momentum, increasing by 1.8% month-on-month (MoM) and 7.3% year-on-year (YoY), according to data from 99.co and SRX.

Singapore Business Review reported that both mature and non-mature estates experienced price hikes, with mature estates seeing a notable 2.6% MoM increase and non-mature estates recording a 1.3% MoM rise.

Breaking down the figures by room type, four-room flats led with a 1.8% MoM price increase. This was followed closely by three-room and five-room flats, each with a 1.6% MoM rise.

Executive flats saw a more modest increase of 1.1% MoM. Prices for all room types and estates have risen compared to the previous year.

Four-room flats topped the list with a 7.5% YoY increase, followed by five-room flats at 7.3%, three-room flats at 6.5%, and executive flats at 6.2%.

Both mature and non-mature estates showed significant YoY growth, with mature estates seeing a 6.7% increase and non-mature estates a 7.3% rise.

June 2024 also saw a notable increase in sales volume. 2,387 HDB resale units were transacted, marking a 15.7% MoM rise.

This represents a 17.5% increase compared to the previous year, although there was a slight 13.1% decrease compared with last month.

Most transactions in June were for four-room flats, which accounted for 44% of the total resale volume. This was followed by three-room flats at 24.8%, five-room flats at 24.2%, and executive flats at 6.9%.

Non-mature estates led in terms of transaction volume, with 57.7% of the total, while mature estates comprised the remaining 42.3%.  /TISG

Read also: HDB resale prices rose 2.1% in Q2 amid strong demand and supply constraints

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