New Reporter
10-04-23, 10:10
HDB resale prices rise 0.5% in March after easing in February: SRX, 99.co
Apr 06, 2023
PRICES of resale Housing and Development Board (HDB) flats rose in March this year after easing in February, flash figures released by SRX and 99.co on Thursday (Apr 6) showed.
On a month-on-month basis, overall HDB resale prices increased by 0.5 per cent in March from February 2023. Prices for mature and non-mature estates in March rose marginally by 0.7 per cent and 0.5 per cent respectively.
Year on year, overall prices increased by 8.3 per cent from March 2022. Mature estate prices increased 7.6 per cent and non-mature estate prices rose 8.5 per cent from the year-ago period.
By flat type, prices of both five-room and executive flats increased by 1.3 per cent month on month, while prices of four-room flats rose by 0.5 per cent.
Meanwhile, prices of three-room flats recorded a 0.3 per cent decrease from February.
Pow Ying Khuan, head of research at 99 Group, said potential private property buyers may have sought resale flats – especially five-room and executive units – as an alternative if they were uncertain about whether to take a home loan.
He added: “This reflects continued demand for HDB resale flats in a property environment that favours prudent investment and spending.”
PropNex Realty’s head of research and content Wong Siew Ying said the rebound in sales from February to March could be partly due to the revised CPF Housing Grant announced in Budget 2023.
First-timer families buying two- to four-room HDB resale flats can now get S$80,000, up from S$50,000. Those who buy five-room or larger units can get S$50,000, up from S$40,000.
First-timer singles buying four-room and smaller units will also get a higher grant amount of S$40,000, from S$25,000 before. Those who buy five-room flats can get S$25,000, up from S$20,000.
Resale volumes rose 23.7 per cent month on month, with 2,287 resale flats changing hands in March. Volumes rose 0.8 per cent compared with the year-ago period.
Around 57.8 per cent of last month’s volume came from flats in non-mature estates, while the remaining 42.2 per cent comprised flats in mature estates.
Four-room flats changed hands the most, accounting for 44.7 per cent of the resale volume in March, followed by three-room flats at 26.2 per cent, five-room flats at 23.1 per cent and executive flats at 6 per cent.
OrangeTee & Tie senior vice-president of research and analytics Christine Sun noted that there was a record number of million-dollar four-room flats sold in a single month in March, with nine such units transacted.
She noted that this comes as private homeowners aged 55 and above are now exempt from serving the 15-month wait-out period if they buy a four-room or smaller resale flat.
“We foresee that more such transactions may take place for the rest of the year,” she added.
Across all flat types, the number of million-dollar flat transactions in March rose 62.5 per cent from the month before, with 39 such deals taking place. These transactions constituted 1.7 per cent of last month’s total resale volume.
Pow of 99 Group noted that March 2023 tied with October 2022 as the month with the third-highest number of such flats sold.
PropNex’s Wong noted that million-dollar flats remain sought after, despite cooling measures introduced in September 2022 to soften demand.
“We expect interest in such flats – which tend to have excellent attributes, in popular locations and are spacious – to remain healthy, as they offer a good value proposition for buyers when compared with private homes in the same locations, which are much pricier.”
In March, Toa Payoh recorded the most million-dollar HDB flat deals with eight transactions, followed by the central area with six units. Other million-dollar HDB flats came from Bishan, Kallang Whampoa, Serangoon, Clementi, Woodlands, Geylang and Hougang.
The highest transacted price for a resale flat in the month was S$1.4 million for a five-room unit at The Pinnacle @ Duxton. In non-mature estates, the most expensive HDB flat transaction involved an executive apartment at Woodlands Street 82, which changed hands for S$1.02 million.
https://www.businesstimes.com.sg/property/hdb-resale-prices-rise-05-march-after-easing-february-srx-99co
Apr 06, 2023
PRICES of resale Housing and Development Board (HDB) flats rose in March this year after easing in February, flash figures released by SRX and 99.co on Thursday (Apr 6) showed.
On a month-on-month basis, overall HDB resale prices increased by 0.5 per cent in March from February 2023. Prices for mature and non-mature estates in March rose marginally by 0.7 per cent and 0.5 per cent respectively.
Year on year, overall prices increased by 8.3 per cent from March 2022. Mature estate prices increased 7.6 per cent and non-mature estate prices rose 8.5 per cent from the year-ago period.
By flat type, prices of both five-room and executive flats increased by 1.3 per cent month on month, while prices of four-room flats rose by 0.5 per cent.
Meanwhile, prices of three-room flats recorded a 0.3 per cent decrease from February.
Pow Ying Khuan, head of research at 99 Group, said potential private property buyers may have sought resale flats – especially five-room and executive units – as an alternative if they were uncertain about whether to take a home loan.
He added: “This reflects continued demand for HDB resale flats in a property environment that favours prudent investment and spending.”
PropNex Realty’s head of research and content Wong Siew Ying said the rebound in sales from February to March could be partly due to the revised CPF Housing Grant announced in Budget 2023.
First-timer families buying two- to four-room HDB resale flats can now get S$80,000, up from S$50,000. Those who buy five-room or larger units can get S$50,000, up from S$40,000.
First-timer singles buying four-room and smaller units will also get a higher grant amount of S$40,000, from S$25,000 before. Those who buy five-room flats can get S$25,000, up from S$20,000.
Resale volumes rose 23.7 per cent month on month, with 2,287 resale flats changing hands in March. Volumes rose 0.8 per cent compared with the year-ago period.
Around 57.8 per cent of last month’s volume came from flats in non-mature estates, while the remaining 42.2 per cent comprised flats in mature estates.
Four-room flats changed hands the most, accounting for 44.7 per cent of the resale volume in March, followed by three-room flats at 26.2 per cent, five-room flats at 23.1 per cent and executive flats at 6 per cent.
OrangeTee & Tie senior vice-president of research and analytics Christine Sun noted that there was a record number of million-dollar four-room flats sold in a single month in March, with nine such units transacted.
She noted that this comes as private homeowners aged 55 and above are now exempt from serving the 15-month wait-out period if they buy a four-room or smaller resale flat.
“We foresee that more such transactions may take place for the rest of the year,” she added.
Across all flat types, the number of million-dollar flat transactions in March rose 62.5 per cent from the month before, with 39 such deals taking place. These transactions constituted 1.7 per cent of last month’s total resale volume.
Pow of 99 Group noted that March 2023 tied with October 2022 as the month with the third-highest number of such flats sold.
PropNex’s Wong noted that million-dollar flats remain sought after, despite cooling measures introduced in September 2022 to soften demand.
“We expect interest in such flats – which tend to have excellent attributes, in popular locations and are spacious – to remain healthy, as they offer a good value proposition for buyers when compared with private homes in the same locations, which are much pricier.”
In March, Toa Payoh recorded the most million-dollar HDB flat deals with eight transactions, followed by the central area with six units. Other million-dollar HDB flats came from Bishan, Kallang Whampoa, Serangoon, Clementi, Woodlands, Geylang and Hougang.
The highest transacted price for a resale flat in the month was S$1.4 million for a five-room unit at The Pinnacle @ Duxton. In non-mature estates, the most expensive HDB flat transaction involved an executive apartment at Woodlands Street 82, which changed hands for S$1.02 million.
https://www.businesstimes.com.sg/property/hdb-resale-prices-rise-05-march-after-easing-february-srx-99co