HDB Resale Prices: The Ultimate Roller‑Coaster?
After nearly a year and a quarter of steady climbs, the HDB resale market may finally be hitting a brake.
Price Pulse – A Tiny But Snappy Spike
- October uptick – Prices rose by 0.5% on average.
- Not a mountain, but it’s the latest notch in the long, winding journey.
Volume Vibes – A Quiet Surge Down.
- Only 1,965 flats swapped hands last month.
- That’s a drop of 24.1% compared to the previous month.
- Across almost every room size, sales fell between 22.8% and 26.0%.
Historic Comparison – When the Market Grounded.
- 24.1% is the steepest monthly decline since April 2020.
- In that month’s Circuit Breaker snap, sales slid 78.3% from 1,949 units in March to 423 in April.
Looking Forward – What 2025 Might Hang On To.
Pow Ying Khuan from 99 Group states:
“The first 10 months have dipped to 22,425 transactions, and come December we might sit below last year’s 29,181.”
So, if the trend holds, brace yourself for a quieter resale scene in the coming months.
Quick Takeaway – Bottom Line.
- Prices keep climbing—just a little slower.
- Sales are idling away.
- Market chatter suggests a slower finish to 2025.
Drop in resale volume may not be due to cooling measures
Heat‑Down Houdini: HDB Resale Shifts
After the latest wave of cooling measures hit the streets on 30 September, the resale scene for HDB flats has pretty much turned into a quiet whisper. The government has really pulled out all the stops to nudge the market into a calmer groove.
What the Cooling Strategy Looks Like
- Higher stress‑test for HDB and bank loans – Banks now have to play that “tougher scrutiny” game, making it harder to get those loan approvals.
- New LTV cap on HDB loans – The loan‑to‑value ratio tops out at a tighter limit, shrinking the amount you can borrow against your property.
- 15‑month hold‑out for private property owners – You must wait a full over‑a‑and‑a‑half year before you can jump into an HDB resale flat.
All these measures are basically the government’s way of saying “hold your horses”, and if you’re looking to snag a resale flat, you’ll need to brace for a slower pace—and maybe a few extra coffee breaks while you wait.
Why the Housing Market is Not Balancing Out Yet
Pow pointed out that the cooling measures probably haven’t truly pulled the rug from under last month’s slump – after all, it usually takes about eight weeks for a HDB flat to be sold out of the spotlight.
Price Resistance: The New Party Crasher
- Can you believe the median resale price is now a whopping S$545,000? That’s a 34.6% hike from the pre‑pandemic 2019 level of S$405,000.
- With such a high lid on the market, buyers are feeling the price resistance like a stubborn bouncer at a club – just refusing to let anyone in.
- In short, this resistance could be why we’re not seeing the expected drop in volume.
Brake On Buyers’ Wallets
Many potential homeowners are now hesitating, stalling on the sidelines to see what the next curtain reveals – especially with the rapid rise in interest rates pulling their wallets a bit too close.
What’s Next?
- Will the market find its footing once the price resistance loosens?
- Or are we headed towards a more cautious, “wait and see” buying vibe?
In the meantime, folks are keeping their eyes peeled, hoping the macro‑economic weather clears up enough to tickle those property dreams.
Lower demand for bigger flats temporarily
“If it’s a 5‑room, you’re either blessed or unlucky. If it’s an executive, you might need a better hashtag.”
4‑Room HDB Flats Hit the Top of the Price Chart
Executive Flats Take a Little Sip of the Market
The high‑brow executive units slid by 1.0%, giving us the feeling that even luxury sometimes feels a bit of a stretch.
What Could Be Going On?
“The demand for the larger units might bite for a bit.Some private homeowners are wary of the long waiting list, preferring a quick move over a resale ‘pick-and-choose’ ’.”
“Young couples or families who are chasing up‑grades might still grab those big resale flats once prices level out or slip a tad.”Laughingly, it’s a bit like grocery tech, where the “premium” items can dip while the staples climb.
Takeaway: Keep an Eye on the Trends
2% of last month’s resale transactions are million-dollar HDB resale flats
Singapore’s HDB Resale Market Goes Big Bucks
In the most wallet‑wobbling month yet, 40 HDB resale flats went for a cool at least one million dollars each. That’s the second‑highest monthly tally ever recorded, and it’s about twice as many as the October spike from last year.
The OTP Mystery
Some of these million‑dollar deals might have slipped through the cracks when the new cooling measures were rolled out. Sun pointed out that opt‑in purchase (OTP) approvals were sometimes issued before the Government’s tighter rules came into play.
And rumor has it that buyers didn’t just sit back—they fought back with appeals that apparently came through, boosting the deal count.
4‑Room Units: The New “Wow” Factor
- In the last month, the four‑room sector saw the highest number of million‑plus sales ever.
- Six 4‑room units were sold for over a million dollars, an impressive jump from the just six that sold in October.
The Pinnacle@Duxton Break‑out
Not to be out‑shone locally, a 4‑room flat at Pinnacle@Duxton sold for a stunning $1.37 million, landing it as the most expensive 4‑room HDB resale property in the country.
So, what’s the takeaway? The housing market’s not just staying hot—it’s itemizing in the millions. If you’re eyeing an apartment that’s not just a space, but a status symbol, it’s high time you start scouting for that next million‑plus HDB gem.
Looking to buy or sell an HDB resale flat soon? Let us know in the comments section below.
Rent Analysis: Punggol Takes the Crown
Hey there, savvy renters and curious side‑walkers! 99.co just dropped the latest rent scoop, and trust me—it’s worth every bookmark.
Hot‑to‑Cold: Why Punggol Is the New Beach
- Per‑cent Power Surge: Median rents in Punggol have exploded by a whopping 40‑41% since Q3 last year. If you thought your rent was just getting a little higher, get ready for the full dragon‑fire!
- Flat Types on Fire: All HDB flat types (1‑bed to 4‑bed) are feeling the heat—no corner left untouched.
- HDB’s Financial Spree: The housing board faced a record deficit of $4.367 billion in FY 2021—an 86% spike from the previous year. Turns out, even corporate Singaporean landlords struggle to keep their books in the pink.
What Does This Mean for You?
- Expect to pay more for that cosy 1‑bed or the swanky 3‑bed if you’re eyeing the Punggol market.
- Consider negotiating or looking a bit farther afield if the price tags are getting too hot.
- Use the data to justify a rent hike or a split‑room deal with a friend: “It’s the market, not my taste in décor!”
Quick Takeaway
If your bank account feels a bit thinner than usual, keep an eye on Punggol’s rental trends. The numbers are winking that rent is on the rise—and you might want to act before it skyrockets even further.
Stay savvy, stay curious, and remember: rent smarter, not harder!
