HDB resale volume recovers in March as prices rise for 21 straight months: SRX, 99.co
Apr 07, 2022
RESALE volumes for Housing and Development Board (HDB) flats recovered in March this year, as some 2,269 flats were transacted, representing a 19.2 per cent increase from the month before, according to flash estimates from property portal SRX and 99.co
This comes after a 22 per cent slide in resale volumes in February, which analysts have attributed to slower market activity over the Chinese New Year festive period.
On an annual basis, HDB resale volumes fell 7.3 per cent.
HDB resale prices continued its uptrend for 21 months straight, rising 0.7 per cent from the month before, said SRX and 99.co in its flash report released on Thursday (Apr 7).
Compared to the same period last year, HDB resale prices have gone up by 12 per cent overall.
When comparing the sales data by estates, it showed that 56.2 per cent of the sales in March were for HDB resale flats located in non-mature estates, while the rest were in mature estates.
Transaction prices in non-mature estates rose at a higher rate, increasing 0.9 per cent from the month before, while resale prices in mature estates went up by 0.5 per cent.
However, when compared on an annual basis, resale prices for flats in mature estates rose 9.7 per cent, lower than the 13.7 per cent increase for transactions in non-mature estates.
As for room types, the bulk of HDB resale flats sold in March were 4-room flats, accounting for 42.4 per cent of the total number of sales.
An almost equal proportion were 3-room (24.1 per cent) and 5-room (24.6 per cent) flats.
Resale prices for 3-room flats rose at the fastest rate, increasing 1.3 per cent in March from the month before. Prices for 4-room flats went up 0.7 per cent, while those of 5-room flats actually decreased by 0.1 per cent.
Prices for all room types increased compared to the same period a year ago, with 3-room flats rising 12.6 per cent, 4-room flats up by 12.1 per cent and 5-room flats increasing by 11.3 per cent.
There were 27 HDB resale flats sold for at least S$1 million in March, slightly lower than 29 such transactions in February.
Million-dollar HDB flats made up 1.2 per cent of total resale volume.
A 5-room unit at Pinnacle@Duxton in Tanjong Pagar was the most expensive resale flat sold in March at S$1.39 million.
The most expensive resale flat in a non-mature estate was for an executive apartment at Woodlands, which sold for S$950,000.