HDB Prices Continues To Rise In April 2024; Volumes Picks Up

1. HDB resale prices increased by 0.9% in April 2024 compared to March 2024.Both Mature and Non-Mature Estates prices increased by 0.9% and 0.4% respectively as compared to March 2024. In terms of room types, 3 Room prices increased by 1.2%, 4 Room prices increased by 1.1%, 5 Room prices decreased by 0.3% and Executive prices increased by 2.3%.

According to the SRX Property Price Index for HDB Resale:

• Year-on-year, the overall price increase is 9.0% from April 2023.
• Year-on-year, prices for all room types increased over April 2023: 3 Room by 6.2%, 4 Room by 7.1%, 5 Room by 4.5% and Executive by 5.7%.
• Both Mature and Non-Mature Estates prices increase by 5.9% and 5.6% respectively from a year ago.

2. 2,387 HDB resale flats were transacted in April 2024, representing a 15.7% increase from March 2024.

• Year-on-year, resale volume in April 2024 is 6.0% higher than the previous year.
• Breaking it down by room type, in April 2024, 25.7% of the volume came from HDB 3 Room, 45.1% from 4 Room, 23.4% from 5 Room and 5.8% from Executive.
• Breaking it down by estate, 62.1% of the resale volume in April 2024 came from Non-Mature Estates. The remaining 37.9% in the month are from Mature Estates.

3. The highest transacted price for a resale flat in the month is achieved at $1,438,000 by a 5 Room flat at Lor 1A Toa Payoh

• In Non-Mature Estates, the highest transacted price is achieved at $1,088,000 by an executive apartment at Toh Guan Rd.

4. In April 2024, there are 68 HDB resale flats transacted for at least $1,000,000, representing an increase from March 2024 which recorded 61 such units.

• The number of million-dollar flats sold comprise 2.8% of the total resale volumes in the month.
• Kallang Whampoa records fifteen units of million-dollar flats sold in the month, followed by Toa Payoh and Bukit Merah which records nine units.
• The rest of the million-dollar flats come from Queenstown, Ang Mo Kio, Tampines, Bukit Timah, Bedok, Jurong East, Clementi, Bishan, Geylang, Hougang, Central Area, Bukit Panjang, Sengkang, Woodlands and Yishun.