HDB Resale Flat Prices Rise for Sixth Consecutive Month

SINGAPORE – Prices of Housing Board resale flats inched up in March for the sixth straight month, which analysts attributed to firm demand for larger units and the rising number of million-dollar flat transactions.

“Therefore, sales momentum may have slowed in the light of the sharper price increase over the last six months,” she added.Compared with March 2023, resale volume was 9.8 per cent lower. Of the million-dollar HDB resale flats sold in March, 19 were four-room units, 24 were five-room flats, 16 were executive apartments, and two were multi-generation flats.

The most expensive resale flat was a five-room, 1,202 sq ft unit between the 19th and 21st storeys at Block 9A Boon Tiong Road in Tiong Bahru – it sold for $1.45 million. Mr Mark Yip, chief executive of property firm Huttons Asia, noted a stronger demand for five-room and larger flats, attributing it to private home owners who served their 15-month wait-out period after selling their homes and entering the HDB resale market.Compared with February, five-room flats recorded the highest price increase of 1 per cent, while prices of three-room flats dipped by 0.1 per cent and executive units were down 0.5 per cent.

Source: Real Estate Daily Report (realestatedailyreport.net)

HDB Resale Flats Singapore Prices Growth Demand Larger Units Million-Dollar Transactions

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