HDB resale prices up 1% in February

Five-room inched up by 1.2% and executive rooms rose by 0.9% YoY.

HDB resale prices rose 1% YoY and 0.7% MoM as all room types posted monthly increases, according to an SRX report. However, the monthly figure is 13% lower than the peak in April 2013.

Also read: HDB resale prices up 0.3% in January

On a YoY basis, three-room prices dipped 0.5%, whilst the rest of the room types grew. Four-room HDB prices inched up by 0.7%, five-room by 1.2% and executive by 0.9% YoY.
Mature estates prices slipped 0.6% YoY and non- mature estates prices went up by 2.2% YoY

Meanwhile, three-room prices rose 0.6% MoM, four-room by 0.1% MoM, five-room by 1.1% MoM and executive by 0.9% MoM. Mature estates prices increase by 1.3% MoM, whilst non-mature estates prices slid 0.3% MoM.

There were 1,668 HDB resale transactions in February, which showed a 26.9% YoY rise and a 13.1% MoM decline. Nearly half, or 44.2%, of the volume comes from HDB four-room, 24.5% from five-room, 22.1% from three-room and 6.8% from executive.

“Although the resale volume dipped on a MoM basis, it surged significantly when compared to the same period a year ago, registering the best performing February sales since 2017,” said Christine Sun, head of research & consultancy at Orange Tee & Tie. “This may indicate that the recent policy changes played an instrumental role in turning around market sentiments and sustaining demand for resale flats.”

SRX further noted that the highest transacted price is at $1,100,000 by a five-room unit at Commonwealth Drive. Amongst non-mature estates, the highest transacted price is achieved at $858,000 by an executive maisonette unit at Hougang St. 21.

Five HDB resale flats were sold for at least $1m in February.

Overall median transaction over X-value (T-O-X) is positive $2,000 in the same month which is a $2,500 increase from January 2020. HDB three-room recorded negative $1,000 median T-O-X, whilst HDB four-room, five-room and executive posted positive $2,000, positive $3,000 and positive $11,000, respectively.

Serangoon has the highest median T-O-X at positive $14,000 in February 2020, followed by Geylang at positive $7,000. Marine Parade posted the lowest median T-O-X at negative $26,000, followed by Bishan at negative $24,500.

SRX added that an estimated 6,799 flats will become eligible to join the HDB resale market in the next three months.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.
The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.
If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia