HDB resale volume down 4.3% MoM in April

There were 2,188 HDB resale flats sold in April 2023.

Amidst rising interest rates and new cooling measures, the HDB resale volume fell 3.7% year-on-year to 2,188 flats transacted in April 2023, data from 99.co and SRX showed.

By room type, less than half of the volumes come from HDB four-room, 23.2% from three-room, 23.2% from five-room, and 6.6% from the executive. 

Breaking it down by estate, 62.0% of the resale volumes in April 2023 come from Non-Mature Estates. The remaining 38.0% in the month are from Mature Estates.

For prices, it grew 1.1% in April 2023 compared to March 2023. Mature Estates and Non-Mature Estates prices went up 1.0% and 0.8%, respectively, as compared to March 2023. 

In terms of room types, three-room prices increase by 0.7%, four-room prices increase by 0.3%, five-room prices rise the most at 1.9% while executive price increased by 1.0%.

Luqman Hakim, chief data & analytics officer at 99.co, said resale prices went up 1.1% compared to March 2023, with 5-room flats rising the most at 1.9%. 

This could mean that tenants are choosing to buy resale flats as rent prices grow.

“Subsequently, with the revised ABSD rates from 27 April 2023 onwards, there is expectant pressure on rental demand (and prices), prompting spillover demand from tenants as they reinvest and buy HDB resale flats,” said Hakim.

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