HDB resale prices up 0.5% MoM in October

A total of 1,965 HDB resales were transacted last month.

HDB resale prices saw a 0.5% increase month-on-month (MoM) in October and a 10.8% growth compared to the same period last year, according to a report by 99.co and SRX.

Mature prices rose by 1.3% MoM, whilst prices of non-mature estates were unchanged. Year-on-year, mature and non-mature estate prices increased by 10.4% and 11.1%, respectively.

In terms of room types, four-room prices jumped the most by 0.7%, followed by three-room which was up by 0.4%. Five-room prices remained the same and executive prices were down 1%.

Prices for all room types logged an increase compared to the same period last year, with five-room properties posting the highest growth by 11.6%, followed by the executive (11.1%), three-room (10.7%), and four-room (10.6%).

Meanwhile, HDB resale transacted during the month was down 24.1% MoM to 1,965, 41%.9% of which were four-room, 26.1% were five-room, 23.7% were three-room, and 6.8% were executive, with the remaining from other room types. A total of 57.7% of the volume were non-mature estates, whilst 42.3% was from mature estates.

The transactions were also 21.6% lower than in October 2021.

The highest transacted for a resale flat was priced at $1.38m by a five-room DBSS unit at The Peak @ Toa Payoh, whilst, the highest transaction for non-mature estates was at $1.078m by an executive apartment unit at Yishun Avenue 4.

A total of 40 transactions worth at least $1m in October, down from 45 units in September. Million-dollar flats sold comprised 2% of the total resale volumes during the month.

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