by OrangeTee & Tie Pte Ltd.

HDB resale prices climb 1.2% in Sept; record 45 million-dollar flats sold in a month

SRX HDB Resale Data

Singapore, 06 Oct 2022

Prices of Housing Board resale flats climbed for the 27th consecutive month in September, with a record 45 units changing hands for at least $1 million in a month. 

In September, an estimated 2,589 HDB resale flats changed hands, up 11.4 per cent from August, data showed. Non-mature estates saw more transaction activities, accounting for around 60 per cent of overall transactions, compared with 40 per cent in the mature estates. 

OrangeTee & Tie senior vice-president of research and analytics Christine Sun said one reason for the higher resale volume could be that median prices of new condominium launches in the suburbs have reached new highs, breaching the $2,000 per sq ft benchmark. "Buyers who are priced out of the new condo market have probably turned to the HDB resale market," she said.

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