HDB resale prices hit new high with 0.9% increase in October

October marked the 16th consecutive month of growth for HDB release prices

HDB resales prices reached a new high in October, rising by 0.9% month-on-month. The growth surpassed the September 2021 figure of 0.8%.

On a year-on-year comparison, prices were up by 13.5%, 99-SRX reported.

The growth of HDB resale prices for October and September, however, was “slightly slower” than average price growth over the past year of 1.1%, according to OrangeTee.

Meanwhile, prices of mature and non-mature estates likewise saw an uptick for the month, increasing by 0.8% and 1.0% respectively.

All room types also saw increases by 1% for 3 Room, 1.1% for 4 Room, 0.9% for 5 Room, and 1.2% for Executive units.

On the flipside, transaction volumes for HDB resale flats decreased by 0.6% to 2,505 from the previous month.

On a year-on-year comparison, however, current figures represent a 2.8% increase.

The transaction volume of HDB resale flats worth at least $1,000,000—which comprises 0.8% of the total sales—also fell from 23 in September to 20 in October.

The sale of a 5 Room DBSS unit at Natura Loft for $1,260,000 was the highest transacted price for the month for mature estates.

Meanwhile, the highest for non-mature estates was the sale of an ​​executive apartment unit at Woodlands Street 81 for $980,000.

OrangeTee analysts said despite the marginal slip in volume sales for October, demand for HDB resale flats can still be considered “resilient.”

“Demand is still healthy given the current viewing restrictions and cap on visitor numbers. The resilient demand indicates that there are still many genuine buyers who are in need of immediate housing,” OrangeTee commented.