{"id":73276,"date":"2024-03-04T18:38:09","date_gmt":"2024-03-04T10:38:09","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=73276"},"modified":"2024-03-06T14:38:01","modified_gmt":"2024-03-06T06:38:01","slug":"hdb-resale-price-market-feb-2024","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/hdb-resale-price-market-feb-2024\/","title":{"rendered":"HDB prices on the rise throughout Feb 2024 despite volume drop during CNY"},"content":{"rendered":"
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We outline four major observations our data analysts made in the recent flash report covering the HDB flat resale market.<\/p>\n

Read last month’s HDB flash report cover here: <\/strong>74 HDB units sold in January 2024 for over a million dollars, breaking records<\/a><\/em><\/p>\n

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HDB resale prices increased by 0.5%<\/h2>\n

Based on the graph and table below, we can confidently state a 0.5% increase in Mature Estates and a 0.3% increase in Non-Mature Estates for February 2024, compared to the previous month.<\/p>\n

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Based on room types, we see a 0.9% increase for 3-rooms, 0.6% for 4-rooms, 0.4% for 5-rooms, and 0.7% for Executive unit prices, as we can see in the tables below:<\/p>\n

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According to the SRX Property Price Index for HDB Resale, there has been a significant 6.4% increase in overall prices year-on-year since February 2023. This trend is consistent across all HDB room types, with 3-room flats experiencing a 5.4% increase, 4-room flats rising by 6.3%, 5-room flats by 7.0%, and Executive flats by 6.2%. The data also indicates that both Mature and Non-Mature Estates have seen a rise in prices by 6.1% and 5.9% respectively from the same time a year ago, indicating a broad-based growth in HDB resale market values.<\/p>\n

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February 2024 saw 2,134 HDB resale flats transacted<\/h2>\n

The number of units sold this month is 2,134, which is 18.8% less than the number of units sold last month.<\/p>\n

In February 2024, there was a significant increase of 15.4% in the resale volume of HDB flats compared to the same period in the previous year. When analysing the sales volume by room type, 3-room flats constituted 24.9% of the transactions, while 4-room flats accounted for the majority at 42.5%. Additionally, 5-room flats comprised 23.1% of the sales, and Executive flats contributed 6.4%.<\/p>\n

From a geographical perspective, most of the resale activities were concentrated in Non-Mature Estates, representing 64.3% of the total volume, whereas the remaining 35.7% of transactions occurred in Mature Estates. This highlights a diverse demand for different housing types and locations.<\/p>\n

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S$1,480,000 was the highest transacted price<\/h2>\n

In February 2024, the market observed a record-breaking resale at S$1,480,000<\/a>. The flat was an Executive, located at Bishan Street 24<\/a>. This sale emphasises the high value placed on strategically located properties.<\/p>\n

On the other hand, within Non-Mature Estates, an executive apartment at Hougang Central<\/a> was sold for S$1,045,000, marking the highest transactional value achieved in that region. This comparison of the highest prices in Mature and Non-Mature Estates illustrates the diverse range of investment potentials available in different residential areas.<\/p>\n

We can take a look at the numbers of million-dollar HDB resale flats below:<\/p>\n

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