163 views
/Cedric Yong from Pixabay

HDB resale volumes decline 28.2% MoM in February

Prices stayed the same for the first time in more than two years.

More than 1,800 HDB resale flats were sold in February 2023, which declined 28.2% from January 2023, SRX and 99.co data revealed.

Year-on-year (YoY), resale volumes fell 2.9% from the previous year. Per room type, 43% come from HDB 4 Room, 27.5% from 3 Room, 22.8% from 5 Room and 6.6% from Executive. Per estate, 60.9% of the resale volumes are from Non-Mature Estates whilst 39.1% in the month are from Mature Estates. 

HDB resale prices stayed the same in February 2023 compared to January 2023. Mature estates and non-mature estates prices decrease marginally by 0.1% compared to the month before.

As per room types, 3 Room prices increase by 0.3%, 4 Room prices stay flat while 5 Room prices decrease by 0.8% and Executive prices decrease by 0.3%.

But on a yearly basis, the overall price went up 8.3% from February 2022. Prices for all room types increased over February 2022, 3 Room by 9.0%, 4 Room by 9.4%, 5 Room by 6.6% and Executive by 6.2%.

Mature and Non-Mature Estates prices grew by 7.4% and 8.4% respectively from a year ago.

The highest transacted price for a resale flat in the month was at $1.34m by a 5-Room unit at The Pinnacle @ Duxton. 

In Non-Mature Estates, the most expensive was at $1,080,000 by an Executive Apartment at Woodlands Street 81.

Pow Ying Khuan, Head of Research, 99 Group, said resale volumes dipped to the lowest since May 2020 after a surge of transaction in the first month of the year.

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!

Top News

DBS and OCBC expected to deliver steady Q1 net profits
Their net interest margins will ease as a result of their Hong Kong loans.
Singapore's maritime cluster navigates towards digital, green future
Adapting to emerging challenges, such as the adoption of alternative fuels, is deemed crucial for the country's maritime sector.
SCG and A*STAR unveil joint labs for cellular immunotherapy enhancement
The partnership has a funding of nearly $30m supported under Singapore's Research, Innovation and Enterprise 2025 plan.
Healthcare