Steady Growth of HDB Resale Transactions in April | Ohmyhome Insights

Mohan Sandrasegeran

Mohan Sandrasegeran

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  //*Updated figures for March  is reflected from data.gov

A total of 2,275 resale flats were transacted in the month of April as compared to the 2,264 flats transacted in March. This was a marginal increase of 0.5% (month-on-month).

The demand for resale flats continues to remain healthy. As buyers dependence on the resale market is fueled by the interest as a result of the uncertainties in the construction industry.   

16 out of 26 towns sees increase in average resale prices 

Source: Ohmyhome Research, Data.gov.sg 

Comparing the average prices between March and April, we observed that 16 out 26 towns had a surge in prices. For comparison, there were a total of 14 towns with price increases observed in March. 

The highest price increase for the month was in the Central Area. With a 17.8% rise observed in the area. 

The reason behind the increase in these areas can be attributed to more occurrence of high value transactions such as million dollar deals. These deals tend to push the overall prices of the resale flats. Hence , the higher price increase in these areas. 

Further drop in million dollar deals in April

Source: Ohmyhome Research, data.gov.sg //*Updated figures reflected 

The number of million-dollar deals dropped further in April. It declined from 27 deals in March to 22 deals in April. It is likely price resistance has set in.  

4-room flat at Pinnacle @ Duxton had the highest deal in April 

Source: Ohmyhome Research, data.gov.sg 

The Pinnacle @ Duxton had the highest transacted 4-room HDB resale flat within the project, with a price tag of $1.23 million. This essentially surpassed the previous high of $1.21 million, four-room flat at the same project itself, which was transacted in March. 

Source: Ohmyhome Research, data.gov.sg 

Most deals were situated in The [email protected] The HDB development continued to garner interest from buyers and set new records. It is a testament to the unique selling proposition of the project and the accessible central location that makes it attractive. 

Outlook  

Source: Ohmyhome Research, data.gov.sg 

Preliminary figures from data.gov.sg indicate that there have already been 12 million-dollar deals in May. 

The month of May saw at least 3 deals in non-mature estates having a million dollar transactions. With the town of Woodlands seeing two million dollar deals in its estate.  This is the first time Woodlands had such transactions. 

Moving forward, with growing concerns over “Stagflation” as a result of spike in interest rates and economic uncertainties due to the geo-politicall tensions, buyers and sellers might be taking a cautious approach and observing the market closely. 

In recent months, more have turned to the rental market as construction delays have led to longer rental occupation by couples who are waiting for their BTO flats to be completed. 

Looking to buy a HDB resale flat? 

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.

Experience seamless, fast and exceptional service from our Super Agents. Chat with us at the bottom, right-hand corner of the screen. Or WhatsApp us at +65 9727 5270 to get in touch.

Consult an expert for free!

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

or

Contact us your way

Talk to us today. Available daily 9 AM to 9 PM (GMT +8)

Subscribe Now

Get a notification every time we upload a new blog post.

SHARE WITH YOUR FRIENDS!

Consult an expert for free!

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

or

Featured Blogs

Highlighting unique property views for every Singaporean

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Ohmyhome E-Valuation

Know the value of your property in seconds!

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell an HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

OHMYHOME E-VALUATION