{"id":74452,"date":"2024-05-06T18:22:16","date_gmt":"2024-05-06T10:22:16","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=74452"},"modified":"2024-05-14T16:19:27","modified_gmt":"2024-05-14T08:19:27","slug":"april-2024-hdb-resale","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/april-2024-hdb-resale\/","title":{"rendered":"April 2024 HDB resale prices up 0.9% as volumes follow suit"},"content":{"rendered":"
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The HDB resale market in April 2024 experienced an overall upward trend, with increases in both prices and transaction volumes. Resale prices rose by 0.9% compared to March 2024, indicating positive activity in the housing sector. Analysing the data reveals variations across room types and estate categories, reflecting buyer preferences and market dynamics.<\/p>\n\n\n\n

The emergence of million-dollar transactions highlights the importance of premium properties in shaping market trends. In this article, we will delve into the specifics of April’s HDB resale market performance, providing insights into the factors driving this activity and its implications for stakeholders.<\/p>\n\n\n

Read our cover of last month’s report: HDB prices up slightly while volumes drop in March 2024 <\/a><\/i><\/p>\n\n\n\n

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HDB resale prices increased by 0.9% in April 2024 compared to March 2024<\/h2>\n\n\n\n
\"resale
We can see a steady uptick of prices starting from December 2023.<\/figcaption><\/figure>\n\n\n\n

In April 2024, HDB resale prices experienced a significant uptick, with a 0.9% increase compared to March of the same year. This rise was observed across both Mature and Non-Mature Estates, with prices ascending by 0.9% and 0.4% respectively from the preceding month. Examining specific room types, the trend varied: 3 Room prices surged by 1.2%, 4 Room by 1.1%, and Executive by 2.3%, while 5 Room prices experienced a slight dip of 0.3%.<\/p>\n\n\n\n

Analysing the broader context through the SRX Property Price Index for HDB Resale, the upward trajectory is evident. Year-on-year, the overall price surge stands at a considerable 6.0% from April 2023, indicating the market’s enduring strength.<\/p>\n\n\n\n

This growth is consistent across all room categories, with increases recorded: 3 Room by 6.2%, 4 Room by 7.1%, 5 Room by 4.5%, and Executive by 5.7%. Furthermore, both Mature and Non-Mature Estates have experienced robust appreciation, marking a 5.9% and 5.6% increase from the previous year. These trends suggest a dynamic and resilient landscape within the HDB resale market.<\/p>\n\n\n\n

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2,387 HDB resale flats were transacted in April 2024<\/h2>\n\n\n\n
\"resale
After two months of declining volume numbers, April 2024 saw an incline.<\/figcaption><\/figure>\n\n\n\n

There was a significant increase in HDB resale transactions, with 2,387 flats changing hands, marking a 15.7% escalation from the previous month. This indicates a lively market atmosphere, characterised by increased buyer and seller engagement.<\/p>\n\n\n\n

The year-on-year comparison shows consistent momentum, with April 2024’s resale volume recording a 9.0% increase compared to the corresponding period in the preceding year, highlighting the enduring appeal and stability of HDB resale properties.<\/p>\n\n\n\n

Further analysis of the transactional breakdown by room type reveals varied preferences among buyers. 3-room flats constituted 25.7% of the total volume, followed by 4-room flats at 45.1%, 5 Room at 23.4%, and Executive flats at 5.8%, indicating a diverse range of choices catering to different household needs and preferences.<\/p>\n\n\n\n

Similarly, the distribution of resale volume across estates showed that Non-Mature Estates dominated the landscape, accounting for 62.1% of transactions in April 2024, while Mature Estates contributed the remaining 37.9%, emphasising the significance of location dynamics in shaping resale market dynamics.<\/p>\n\n\n