HDB resale prices hit new high with 0.9% increase in October

October marked the 16th consecutive month of growth for HDB release prices

HDB resales prices reached a new high in October, rising by 0.9% month-on-month. The growth surpassed the September 2021 figure of 0.8%.

On a year-on-year comparison, prices were up by 13.5%, 99-SRX reported.

The growth of HDB resale prices for October and September, however, was “slightly slower” than average price growth over the past year of 1.1%, according to OrangeTee.

Meanwhile, prices of mature and non-mature estates likewise saw an uptick for the month, increasing by 0.8% and 1.0% respectively.

All room types also saw increases by 1% for 3 Room, 1.1% for 4 Room, 0.9% for 5 Room, and 1.2% for Executive units.

On the flipside, transaction volumes for HDB resale flats decreased by 0.6% to 2,505 from the previous month.

On a year-on-year comparison, however, current figures represent a 2.8% increase.

The transaction volume of HDB resale flats worth at least $1,000,000—which comprises 0.8% of the total sales—also fell from 23 in September to 20 in October.

The sale of a 5 Room DBSS unit at Natura Loft for $1,260,000 was the highest transacted price for the month for mature estates.

Meanwhile, the highest for non-mature estates was the sale of an ​​executive apartment unit at Woodlands Street 81 for $980,000.

OrangeTee analysts said despite the marginal slip in volume sales for October, demand for HDB resale flats can still be considered “resilient.”

“Demand is still healthy given the current viewing restrictions and cap on visitor numbers. The resilient demand indicates that there are still many genuine buyers who are in need of immediate housing,” OrangeTee commented.

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!


A new canvas: Why artists are jumping into the NFT space
Entering the digital space allows an artist to earn more through royalties each time their art sells.
Recurring mega sales have their own dangers
An expert from Intrepid warned against ‘shopper fatigue’ triggered by frequent large-scale shopping events.