The introduction of Plus flats in the recent October BTO launch, including popular projects like Bayshore Vista and Bayshore Palms, did draw attention and decrease transaction volumes for resale HDB in the month. However, buyers interested in quicker housing solutions continued to look toward the HDB resale market. As this dynamic persists, HDB resale prices increased by 0.3% in October compared to the prior month, with a year-on-year jump of 9.8% that reflects sustained growth in the overall market.
This article explores the HDB resale price trends and statistics that influenced the market in October, providing essential insights into the performance across various regions and the broader market landscape.
Table of contents HDB resale price trend: Increased by 0.3%
The digits recorded previously in September marked a new milestone where HDB resale prices have doubled since 2009. In October, HDB resale prices managed an increase again, a modest 0.3% rise, despite competitive pressures from the BTO launch. A closer look reveals a more pronounced rise in Non-Mature Estates (0.5%) compared to Mature Estates (0.1%).
In terms of flat types, the pricing shifts were nuanced: 3-room, 5-room, and Executive flats saw price increases of 0.4%, 0.2%, and 1.8%, respectively, while 4-room flats experienced a slight decrease of 0.2%. This data suggests continued buyer interest in certain configurations and regions, with Non-Mature Estates seeing a steadier demand.
Year-on-year, HDB resale prices reflected a stronger upward trend with an overall increase of 9.8% from October 2023. This growth was broadly distributed across different flat types, with prices for 3-room, 4-room, and 5-room flats rising by 9.8%, 10.1%, and 9.2%, respectively, and Executive flats following closely at 8.3%. Mature and Non-Mature Estate prices also saw respective gains of 8.6% and 10%, highlighting sustained demand despite evolving market dynamics.
Additional reading: HDB resale market:
