387 views
Stock photo /Unsplash

HDB resale prices continues 13th quarter climb in Q2

1-room flats are now costing almost $250k.

HDB resale prices rose for the 13th consecutive quarter to 1.5% in Q2, following a 1% growth in the first quarter of the year, according to government figures.

Although prices rose faster last quarter, it is still below the average quarterly increase of 2.3 per cent from Q1 2020 to Q4 2022. 

One-room flats were flagged as having an increase in prices the most, increasing by 3.6% to $245.5k in Q2. This is followed by executive flats at 2.3%, 5-room flats at 1.9%, and 4-room flats at 1.5%.

ALSO READ: Condo resale market to see more sales activity in 2H23

The median price of flats increased in 18 out of 26 towns in Q2 2023. Geylang registered the biggest price growth of 19.2 per cent from Q1 2023 to Q2 2023, followed by Ang Mo Kio at 8.4 per cent, Central Area at 6.8 per cent, and Bukit Panjang at 6.1 per cent.

Meanwhile, resale volume of HDB flats dipped by 6.7% in Q2, the lowest volume since Q2 2020. However, resale volume for larger flats continues to receive persistent demands. Based on HDB resale transaction data for Q2 2023, 45.8% of the 6,286 transactions recorded were 4-room flats. 5-room flats made up 23.4% of the overall transactions for the quarter

Rental volume has also increased, with the approved applications to rent out HDB flats rising by 1.9% from 9,657 units in Q1 2023 to 9,842 units in Q2 2023.

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Singapore’s new law weaves safety net for gig workers
Gig workers will be enabled to secure their retirement, benefit from improved workplace safety, and gain greater visibility within the industry.
HR & Education
Here’s how Gen Z consumer preference reshapes APAC’s marketing landscape
Gen Z consumers are observed to purchase based on pleasure and purpose, whilst being conscious of cost and convenience.

Event News

Event News

SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd Cards & Payments
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.
Cards & Payments SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.