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HDB resale prices up by 0.5% MoM in March

This came mainly from 5-room and executive HDB flats.

Compared to February, March saw a slight increase of 0.5% in HDB resale prices, according to the SRX Property Price Index.

In terms of room types, only 3-room prices saw a decrease (0.3%); the rest increased—4-room prices (0.5%), 5-room prices (1.3%), and executive prices (1.3%).

Year-on-year (YoY), the overall price jump is 8.3%, with prices for all room types also increasing—3-room by 7.7%, 4-room by 9.0%, 5-room by 7.9%, and executive by 9.6%.

Mature estates and non-mature estates prices increased by 0.7% and 0.5% month-on-month (MoM), respectively; by 7.6% and 8.5% YoY, respectively.

A total of 2,287 HDB resale flats were transacted in March, representing a 23.7% increase from February. YoY, resale volumes are also higher at an 0.8% rate.

READ MORE: Here's why more Singaporeans bought HDB flat this March

By room type, 44.7% of the volumes come from HDB 4-room, 26.2% from 3-room, 23.1% from 5-room, and 6.0% from executive. By estate, 57.8% come from non-mature estates. The remaining 42.2% in the month are from mature estates.

The highest transacted price for a resale flat in the month is achieved at $1,400,000 by a 5-room unit at The Pinnacle @ Duxton. In non-mature estates, the highest transacted price is achieved at $1,023,000 by an executive apartment at Woodlands Street 82.

In March 2023, there are 39 HDB resale flats transacted for at least $1,000,000, representing an increase from February 2023 which recorded 24 such units.

The number of million-dollar flats sold comprise 1.7% of the total resale volumes in the month.

Toa Payoh records eight million-dollar flats sold in the month, followed by Central Area with six units while Bukit Merah and Queenstown each records five units.

The rest of the million-dollar flats come from Bishan, Kallang/Whampoa, Serangoon, Clementi, Woodlands, Geylang and Hougang.

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