More HDB flats change hands, but resale prices remain unchanged in October

HDB flats in Bishan.
HDB flats in Bishan. ST PHOTO: KEVIN LIM

SINGAPORE - Housing Board (HDB) resale prices stayed flat in October as the market continued to stabilise, but transaction volume picked up, according to SRX Property flash figures on Thursday (Nov 5).

From September to October, SRX's HDB resale price index moved from 134.7 to 134.6, a negligible shift that means prices were essentially unchanged.

In contrast to the stable prices was a surge of activity, with 1,745 units changing hands in October - up 16 per cent from September's 1,504 units, and 12.4 per cent higher than a year before. It was the highest monthly transaction volume so far this year.

The market was stable in both mature and non-mature estates, with prices unchanged. At their current levels, resale prices are 2.2 per cent lower than a year ago in mature estates, and 3 per cent lower in non-mature estates.

But there were marginal differences across flat types. Resale prices rose for three-room and executive flats by 0.7 per cent and 0.9 per cent respectively, but fell for four- and five-room flats by 0.8 per cent and 0.1 per cent respectively.