We sell your home at
better prices
record speed
only 1% commission

65% of HDBs and condos sold in a month.

The top 1% of agents in Singapore to help you find your home

That’s why we sold HDBs and condos above market price.

Maximize the sale of your home

Get expert advice with 1% commission, more profit.

No fees until we sell your home*
*Terms & Condition apply.

3.3% Growth in HDB Resale Transactions as Demand Stabilises in November | Ohmyhome Insights


Follow us on

Join our Telegram channel and follow our Facebook page for the latest property updates.

Every month, the Housing Development Board (HDB) releases a comprehensive database of resale transaction information on Data.gov.sg. Ohmyhome analyses this huge chunk of data and picks out the most relevant points and trends for readers.  

Source: Ohmyhome Research, Data.gov.sg as of 3 Dec. *Updated figures for October is reflected

HDB resale transactions had a 3.3% (m-o-m) growth for the month of November. Total transactions rose to 2,585 as compared to the 2,503 flats sold in October. About 42.0% of the flats transacted in November were 4-room flats. 

Rise in prices for 4-room & 5-room resale flats in 2021

Source: Ohmyhome Research, Data.gov.sg as of 3 Dec 

The marginal growth in resale transactions could suggest a presence of buyer resistance and stabilizing of demand for the rest of the year. As average prices of 4-room and 5-room flats have been on the rise for the first 11 months of the year. 

Strong Interest for newer flats

Source: Ohmyhome Research, Data.gov.sg as of 3 Dec

Sengkang and Punggol consistently remain as the popular towns among buyers for November. The demand for newer flats has garnered stronger interest in these 2 towns. About 46.3% of the HDB resale flats sold in Sengkang and Punggol have a remaining lease balance of 90 to 94 years. 

More appetite for million-dollar HDB flats – 29 deals in Nov   

Source: Ohmyhome Research, Data.gov.sg as of 3 Dec

There were a total of 29 million dollar deals for the month of November, higher than the 20 deals in October. Including November’s transactions, the total number of million-dollar deals is at 223. 

Source: Ohmyhome Research, Data.gov.sg as of 3 Dec

The most number of million dollar deals occurred in the Central Area with a total of 65 transactions, primarily from The Pinnacle@Duxton. 

The second largest was the Queenstown area, with a total of 33 transactions. Further analysis showed that at least 17 of those transactions were from SkyVille @ Dawson. 

Source: Ohmyhome Research, Data.gov.sg as of 3 Dec

Based on the information gathered from data.gov.sg, the highest transacted price in November was a 5-room DBSS flat at City View @ Boon Keng on floor range of between 40 to 42, and was sold for $1.268 million ($990 psf). 

In 2016, a 5-room flat at City View @ Boon Keng with the same size of 1,281 sq ft on a similar range of floor level between 40 to 42 was transacted at a price of $1.004 million. 

This translates to a profit margin of 26.2% between these 2 transactions in 2016 and in November 2021.  While, The Pinnacle @ Duxton accumulated a total of 9 million dollar deals in November.

Overall HDB Resale transactions on track to surpass previous years

Source: Ohmyhome Research, HDB, data.gov.sg //*28,165 includes 1Q21-3Q21 HDB data & numbers from Oct-Nov 21 data.gov.sg as Dec 3

With an estimated 28,165 HDB resale transactions so far in 2021, there’s been a 13.8% increase as compared to the previous year, when a total of 24,748 resale flats were sold. 

On average, there have been about 2,000 HDB resale transactions each month. So taking that into account, we anticipate that the final overall HDB resale volume for the year could reach up to 29,000-30,000 flats.

Source: Ohmyhome Research, Data.gov.sg

An exceptionally higher number of HDB flats will reach MOP in 2022 – estimated total of 31,325 flats. 

This is a 22.7% rise as compared to the 25,530 flats that reached MOP in 2021. With more potential supply coming onto the resale market, it remains to be seen whether demand will be affected with concerns arising from a potential threat of the omicron variant and barring any further changes to the Vaccinated Travel Lanes (VTLs). 

Looking for an HDB or private property?

Here’s how you can speed up your home search

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need.

You can also call us at 6886 9009 to secure an appointment with any of our Super Agents or message us in the chatbox at the bottom, right-hand corner of the screen. You can also WhatsApp us at 9727 5270!

Cover image: Unsplash

Follow us on

Join our Telegram channel and follow our Facebook page for the latest property updates.

Subscribe to the property newsletter read by 200,000 homies
Get our finest insights sent straight to your inbox. Enter your best email.
Unsubscribe anytime.

Consult an expert for free!

Send us your details and we’ll be in touch within 15 min (daily 9am to 9pm GMT +8).

Our finest insights you'll be looking forward to receive.

Read by 200,000 Homies. Enter your best email below to join in.

Unsubscribe anytime.


Related Blogs

Highlighting unique property views for every Singaporean