Resale Prices Touch the Roof – But We Already Knew It’d be a Hurricane
Remember back in October 2020? That was the moment when the resale market hit a full‑blown boom‑date, spiking to the highest volume seen since 2010. Fast forward to today, and the surge is still blazing hot—flat prices soaring to an eight‑year high, while transaction volume keeps blazing through the roof.
What’s Driving This Roller Coaster?
- Demand has been piling up like a stack of pancakes at brunch.
- Interest rates? They’re still low‑low, making buying a sticky‑fingers‑catcher.
- More people want to toss their old flats for a sweet deal—so supply is squeaking out of the market.
All the ingredients are heating up the bubble, and the market watchers say we’d already seen the weather coming months ago.
The Neighbourhoods That Are Hotter Than a Summer Sizzle
Below are the HDB towns that are flying off the shelves this week—by sheer number of resale transactions. You might be shivering at the names; they’re as surprising as rain in the middle of July.
- Jurong East – The flat‑market forklift keeps dropping units.
- Serangoon North – Where kids, cafes, and puzzling price tags converge.
- Buangkok – A hidden gem that’s attracting market doves.
- Tampines Central – Classic high‑velocity sells, so touching ground‑floor real estate feels almost sacramental.
- Bishan – Trending as scoops of rice, it’s a bite‑size market that’s boisterously busy.
So whether you’re cozily hunting for a pocket‑friendly condo or yearning for a spacious posh unit, the market is more intense than ever. Grab your coffee, because this trend is here to stay—at least for the foreseeable future.
HDB towns with highest resale volumes
Resale Transactions Snapshot: Jan 2020 – Feb 2021
Let’s break down the whirlwind of deals that closed over this 14‑month stretch. Even though the figures are just illustrative, they paint a vivid picture of how the market sprinted, stumbled, and sprinted again.
Key Highlights
- January 2020 – Kick‑off party! Roughly 1,200 jam‑packed transactions, signaling a bustling start.
- March – July 2020 – Stormy weather. A dip to about 800 deals as the pandemic sent a wave of uncertainty.
- August – December 2020 – Market resets. Gradual climb back to 1,050, indicating a resilient bounce‑back.
- January 2021 – Full throttle! Peak at 1,300 transactions, reflecting optimism.
- February 2021 – Stay calm, stay safe. A slight decline to around 1,100 as precautions tightened.
What Does This Mean?
Over the whole period, the cumulative count hovers around 14,000+ deals—a testament to how quickly the real‑estate world adapts. Even amidst disruptions, the market found ways to keep the wheels turning.
Takeaway
Whether you’re a buyer, seller, or curious observer, the key message is this: Resilience and adaptability define markets. Stay tuned, stay informed, and don’t let any downturn hold you back!
Highest overall increase in transactions:
HDB Town Transaction Highlights (Feb 2021)
What’s the buzz? Here’s a quick snapshot of how each HDB town performed in the first quarter of 2021.
Punggol
- Total transactions: 2,090
- Volume increase: +252 deals
- Percentage jump: 146% – that’s practically a double‑decker surge!
- Average price: $480 per square foot – a modest fountain of fun for buyers.
Sengkang
- Total transactions: 2,414
- Volume increase: +105 deals
- Percentage jump: 33% – steady and reliable.
- Average price: $443 per square foot – pocket‑friendly for many families.
Choa Chu Kang
- Total transactions: 1,015
- Volume increase: +77 deals
- Percentage jump: 65% – a good mix of hustle.
- Average price: $402 per square foot – cozy for beginners.
Toa Payoh
- Total transactions: 792
- Volume increase: +72 deals
- Percentage jump: 84% – almost a rocket launch!
- Average price: $561 per square foot – premium vibes.
Bedok
- Total transactions: 1,478
- Volume increase: +69 deals
- Percentage jump: 37% – solid growth.
- Average price: $459 per square foot – balanced budget.
Where do you think you’d like to move? Each town offers its own flavor—whether you’re chasing high speeds or a calm, steady pace, there’s something for everyone!
Highest increase in transactions for 3-room flats
HDB Town Transaction Snapshot: Quick & Quirky
Hey, folks! Ever wondered how bustling your favourite HDB neighbourhoods really are? Let’s dive into the numbers that paint the scene as of February 2021.
Spotlight on Clementi
- Transactions recorded: 318
- Month‑on‑month jump: 25 deals
- Growth brag‑point: 89%
- Average price: $$492 psf
Wow, Clementi’s been making a splash – almost a double‑dose of sales! People are basically buying “Clementi complements” 89% faster than before.
Ang Mo Kio – The Countless Crowd
- Transactions recorded: 603
- Month‑on‑month jump: 23 deals
- Growth brag‑point: 30%
- Average price: $$405 psf
603 transactions? That’s a lot of love from the locals. Sure, a 30% rise sounds modest, but those additional 23 contracts still add up to a nice bump in the market.
Bukit Merah – The Bass‑Tuned Boom
- Transactions recorded: 353
- Month‑on‑month jump: 21 deals
- Growth brag‑point: 50%
- Average price: $$548 psf
Half‑a‑hundred percent? Bukit Merah is out here flipping the beat. A hefty 548 psf average price shows buyers are paying a premium for that charming corner.
Toa Payoh – The Quick‑but‑One‑Speed
- Transactions recorded: 375
- Month‑on‑month jump: 20 deals
- Growth brag‑point: 53%
- Average price: $$398 psf
53% growth, 20 more deals – that’s a brisk pace. Toa Payoh’s charms keep folks coming back for more.
Kallang / Whampoa – The Grand Duo
- Transactions recorded: 306
- Month‑on‑month jump: 18 deals
- Growth brag‑point: 53%
- Average price: $$434 psf
When two towns mix, you get double the excitement. Kallang/Whampoa’s 53% bump shows the market’s vibrating at a decent pace, and a fair price at 434 psf keeps buyers in a good mood.
Wrap‑Up: What’s the Takeaway?
Whether it’s Clementi’s near‑near‑double surge or the steady 50% climb in Bukit Merah, the HDB towns are alive with activity. Prices vary but all show a healthy appetite across the board. So if you’re thinking of buying (or selling), now’s a grand time to watch the market’s funky beat.
Highest increase in transactions for 4-room flats
Real Estate Sneak Peek: The Great Singapore Housing Hot‑Spot Scoop
Got your eyes on the Singapore property market? We’ve got the latest gossip on the hottest HDB towns – straight from the source. Grab a coffee, settle in, and let’s dive into the numbers that are making real estate gurus go “wow!”
What’s the Deal?
- Volume: How many transactions took place.
- Growth: Difference in transaction count compared to the previous period.
- Growth %: Percentage jump – because raw numbers feel flat, percentages make it pop.
- Average Price (Feb 2021): The typical price per square foot.
The Towns, Their Moves, and Their $ per Sq Ft!
Punggol.
– 1,185 transactions.
– +140 new deals.
– 156% higher than last count – that’s more than a one‑and‑a‑half‑growth.
– Prices walk around $479 per sq ft.
Sengkang.
– 1,281 deals – a solid number.
– +57 more transactions.
– 32% bump up – moderate but steady.
– Average sits at $452 per sq ft.
Choa Chu Kang.
– 539 trades.
– +41 additional transactions.
– 61% rise – a nice catch-up.
– Comes at about $412 per sq ft.
Queenstown.
– 342 bargains.
– +37 added upsells.
– 116% jump – more than double the previous volume!
– Premium territory: $798 per sq ft.
Bedok.
– 557 transactions.
– +25 new swaps.
– 36% increase.
– Prices hover near $465 per sq ft.
Big Takeaway
Across the board, Punggol is the traffic‑jam of transformation – a 156% growth that’s practically shouting “I’m the new star spot!” Queenstown is pulling double the volume – that’s a big luminous jump. If you’re hunting for a wallet‑friendly spot, Choa Chu Kang’s $412 sweet spot might be your jackpot.
And that’s the quick rundown: if you’re aiming to make your next move, keep an eye on the numbers and a louder heartbeat in these towns. Happy house hunting!
Highest increase in transactions for 5-room flats
HDB Town Sales Snap‑Shot
Let’s dive into the latest market buzz and see which towns are causing the hottest real‑estate debates. Grab your favourite beverage – this won’t take long!
PUNGGOOL
- Transactions: 651
- Volume Growth: +94
- YoY Rise: 168 % – that’s more hype than a TikTok dance trend!
- Avg Price: $469 per square foot (Feb 2021)
SENGKANG
- Transactions: 948
- Volume Growth: +53
- YoY Rise: 47 % – steady, but still solid.
- Avg Price: $425 per square foot (Feb 2021)
BEDOK
- Transactions: 279
- Volume Growth: +29
- YoY Rise: 74 % – breath‑taking growth!
- Avg Price: $486 per square foot (Feb 2021)
TOA PAYOH
- Transactions: 168
- Volume Growth: +28
- YoY Rise: 165 % – double‑digit on double‑digit fashion!
- Avg Price: $685 per square foot (Feb 2021)
CHOA CHUA KANG
- Transactions: 395
- Volume Growth: +26
- YoY Rise: 59 % – receiving the nod from investors.
- Avg Price: $385 per square foot (Feb 2021)
Takeaway? These towns are stirring the pot like a perfectly seasoned curry – whether you’re a buyer, seller or just a curious observer, the numbers show a trend that’s hard to ignore.
What’s unusual about the resale market in 2020 to 2021?
Why Singapore’s HDB Resale Market Is Getting a Turbo Boost
The HDB resale boom is no longer just a rumor—it’s happening, and it’s hotter than the latest TikTok dance craze because of a perfect storm of two key ingredients.
1⃣ The MOP Wave
- Over the past two years, roughly 50,000 flats have finally cracked open their Minimum Occupation Period (MOP). That means people can actually sell them!
- Among those, the “five‑year‑old” gems are especially prized. Why? They’re done building, no lease decay lurking in the shadows, and they were already on the market years ago—so buyers feel secure.
2⃣ Covid‑19’s Suspense‑Busting Chill
We all know the pandemic turned the buying game on its head. Some buyers are now calmer than a cat on a sunny window sill—preferring to upgrade from a cramped starter flat to a bigger, better‑located resale instead of rooting for a brand‑new condo launch.
- This move boosts affordability because resale prices tend to be steadier than launch prices that can swing wildly.
- It also stays far from the construction delays that can feel like waiting for a new season of a beloved show.
Will the Momentum Keep Sailing?
For the rest of 2021, the resale market looks set to keep moving, or to say it in culinary terms—“the oven’s still hot.”
But not every HDB town is getting the same amount of sunshine. Here’s a quick peek at the towns that are surfing the wave:
Top Performers
- Holland Village – prime spot with endless coffee shops.
- Jurong East – affordable yet vibrant for young professionals.
- Toa Payoh – historic charm meets modern amenities.
Why’s the spread? It’s all about location perks, nearby amenities, and the sense that you’re not just buying a flat, but a lifestyle. So if you’re on the hunt, certain towns are offering more bang for your buck during this resale renaissance.
1. Punggol
How Punggol Became the New Hot Spot After the Circuit Breaker
After the Circuit Breaker finally hit the pause button, Punggol figured out how to keep the flow going. Every month—well, every month except for that one summer in 2020—transaction volumes stayed above 200 units. That’s a solid win, especially when compared to the resale side of the market, where no month ever eclipsed 118 units.
Why the Numbers Are So High
- Massive MOP Rollout: In 2020/21, a whopping 5,206 flats are scheduled to hit MOP. That puts Punggol third on the list, behind only Choa Chu Kang and Sengkang. With more people eligible for mortgages, the market just keeps pumping.
- Punggol Digital District (PDD) Hype: Think of it as Singapore’s own tech‑hub seedling. The Singapore Institute of Technology (SIT) will sit right in the middle of a cluster of tech firms and test‑bed facilities. Add the new Nexus mall hooked up to the Punggol Coast MRT station, and you’ve got a package that’s practically a magnet for new residents. Those who watched One‑North transform saw what it did to places like Clementi, and now everyone’s expecting a similar boom.
- Waterway Point’s Grand Finale: Back in 2011, plans kicked off and the mall was finally ready in 2016. The 542,493‑sq‑ft powerhouse has solved a bunch of long‑standing amenity gaps—though it can get pretty packed. The Boardwalk now stitches the mall to Waterway Park and the MRT, creating a hub for shopping, dining, and family fun.
What This Means for Newcomers
In a couple of years, Punggol felt a bit empty, but lately, it’s feeling almost svamped. Prices have meaningfully climbed since 2019, so the “latecomers” are finally seeing the benefits. People that once held off are now tossing their wallets into the district and checking out the changes. It’s not just a pretty face anymore— it’s a full‑blown community that’s now pulling in the crowd.
2. Sengkang
Sengkang’s Resale Rollercoaster: From Rock‑Solid Numbers to a Tiny Dip
Ever wondered how the housing market in Sengkang plays out over a year? Let’s take a quick, tongue‑in‑cheek tour of the data and see where the highs and lows actually landed.
Monthly Resale Numbers (Aug – Jan 2020)
- August to January: The resale market stayed pretty rock‑steady, hovering above 240 units per month. That’s like buying a new house every few days!
- November: A tiny dip to 221 units, so still a solid burst of activity – just a touch shy of the high threshold.
- February: The only real setback, with 205 units. Even the most spirited buyers took a short break.
All in all, 2020’s monthly figures outperformed the entire year of 2019, which never staggered beyond 193 transactions per month. If 2019 had been a quiet little café, 2020 was the bustling downtown market.
The MOP Record – 2020/21 – 6,618 Units
And then there’s the MOP (Minimum Occupancy Period) headline: duh‑duh‑DUPLICATE! Sengkang’s single most impressive record of flats hitting MOP for the term 2020/21 reached a staggering 6,618 units.
Where did they all come from?
It’s all thanks to the huge splash of new builds in Fernvale – a neighborhood that practically sprouted a new block of apartments each weekday. From 2015 onward, the Fernvale Rivergrove and Fernvale Lea developments alone booked in an estimated 2,678 flats hitting MOP. That’s like having half a hall full of brand‑new families just moving in.
So next time you hear someone grumble about how many houses are for sale in Sengkang, remember: the numbers are rolling, the flats are popping up, and the community is growing fast – all like that amazing mixtape that’s topping the charts.
While Sengkang is far from mature, it’s actually one of the best-connected towns.
Welcome to Sengkang: Where Moving Is as Easy as Taking a Snack
From the very beginning, developers in Sengkang have taken the “one‑stop shop” philosophy to a whole new level. Every HDB block is built with a transportation node right at its doorstep.
The LRT Dream
Picture this: a light rail that connects the MRT station, bus interchange, and Compass One mall all in a single, swooping loop. The result? Trips feel like a breezy carousel ride.
Need a quick hop? Two MRT stations on the North‑East Line await you:
- Buangkok – right in the heart of Sengkang Town.
- Another station – just a carriage ride away.
Sengkang’s Youthquake
Younger families flock here, giving the town a spunk‑infused reputation that outshines the usual “blank‑white‑aesthetics” of older neighborhoods. Think of it as a vibrant, dynamic cocktail of energy and charm, something that towns like Sembawang and Punggol couldn’t match.
The Hidden Gem: Seletar Aerospace Park
While everyone is busy hopping on the LRT, there’s a quiet, underrated culinary and recreational hub waiting to be discovered – the Seletar Aerospace Park. This spot blends tasty food with plenty of relaxed vibes. Why settle for the ordinary when you can experience the extraordinary?
3. Choa Chu Kang
Choa Chu Kang: Singapore’s Budget‑Friendly Haven
“Fly‑high” prices? Not here. Choa Chu Kang is where you can snag a decent home without burning a hole in your pocket.
Flat‑Numbers Galore
- ~6,250 units have hit the market‑ready threshold (MOP) – the second‑highest in the whole island.
- Most of them hail from Keat Hong – an area that sprinted ahead in the last decade.
- Over 4,800 resale flats have sold at MOP, all belonging to this cluster.
Price Tags That Won’t Send You into a Panic Attack
With resale rates averaging $402 per square foot, it’s a step below the national average of $468 pSF (February 2021). Even the big‑family‑friendly 5‑room flats come in at only $385 pSF – cheaper than many other towns.
Plot Twist: The Outlier Spotlight
On the flip side, the same town recorded $890,000 for a rare maisonette on Choa Chu Kang Street 64 – the most expensive resale in a non‑mature estate last month. But let’s not let one pricey transaction scare you; it’s an oddball more than a market trend.
Future Boost: Rail Corridor & the Jurong Rail Line
- The Rail Corridor slices through the eastern edge, slated to finish in 2021 – giving new homeowners almost zero wait time.
- Fast‑forward to 2025‑26 – as the Jurong Rail Line comes online, the area’s prices are expected to climb toward the island’s average.
In short, Choa Chu Kang remains a sweet spot for many budgets. Just keep an eye on the rail development – it’s the secret sauce that’ll bring the bargains to their peak and keep the neighbourhood sweet for years to come.
4. Toa Payoh
Toa Payoh’s 5‑Room Frenzy Gets the Price Tag Up!
At the turn of the month, buyers in Toa Payoh pumped up the hype for their dream 5‑room units, snapping them for an eye‑catching $685 per square foot this February. The victory didn’t stop at price tags—just a few weeks earlier, four 5‑room DBSS flats at The Peak crossed the million‑dollar mark in January.
Why the Crowd Keeps Coming
Let’s skip the lecture‑style explanations and get straight to the point: Toa Payoh (and its friendly neighbour Bishan) are the go‑to resale spots for good reason—they’ve earned the title and will keep earning it. It’s all about where you’re headed and what you’re after.
Location, Location, Location
- City fringe charm—right next to the hub of activity.
- All the usual amenities, so you won’t feel cramped.
- Thomson Line is the new hero, weaving through Brighthill, Upper Thomson, and Caldecott MRT stations.
Connection Wins Deals
With the Simmons‑speed of the new line, commuting isn’t a dreaded chore. Even with the steely prices, buyers are hardly blinking. Think of it as the perfect compromise between a condo’s bullet‑proof funds and a Toa Payoh resale that actually fits in your wallet.
Bottom line: 5‑room units are still in high demand, and the upgrades keep piling up. Grab the deal before it slips away—your future home might just be a few MRT stops away!
5. Bedok
Bedok’s Market Roller‑Coaster: From 2019 to 2021
Picture Bedok as a vast, sprawling playground that stretches from Changi all the way to Bedok Reservoir, and even skims the edges of Eunos and Pasir Ris. Because of its sheer size, the resale scene is as big and varied as the area itself.
2019: A Quiet Year in Bedok
- For most of the year, the monthly transaction count barely tipped the 101‑unit line.
- Only four months—July, September, October, and November—managed to cross that threshold.
- September’s spike was a close‑call at 104 units.
Post‑Circuit Breaker (2020‑2021): A Surge in Activity
- After the Circuit Breaker, Bedok’s resale numbers surged—most months recorded over 130 transactions.
- The only exceptions were:
November 2020 (122 units) and February 2021 (117 units).
Why Bedok Is Hard to Pin Down
The sheer footprint of Bedok makes it challenging to generalise any one trend. As a mature, expansive area, it naturally hosts a wide range of resale flat opportunities across its diverse neighborhoods.
Looking Forward: North & South, With a Pinch of Tanah Merah
- Interest is expected to climb in Bedok North and Bedok South, thanks to growing development along the Tanah Merah Kechil link.
- Tanah Merah serves as a vital hub, linking directly to Changi Airport—an extra magnet that keeps the market buzzing.
So, if you’re thinking about a move or just curious about the local housing rhythm, Bedok offers plenty of twists and turns—just bring a sense of adventure!
Is the surge in the resale flat market sustainable?
Why Singaporeans are Picking Resale Flats for Their First Home
In the land of hawker stalls and kopi, a new trend is surfacing: the knack for picking a resale flat over a brand‑new BTO. Many first‑time buyers now dream bigger, craving those private‑market perks that a fresh BTO can’t match.
What’s the Difference, Exactly?
When you buy a Build‑to‑Order (BTO) unit, you’re on a five‑year waiting game, but there are actually two separate timelines to keep in mind:
- Construction Period (~3‑4 years): That’s the time until the flat is ready for you. You’ve got to be patient during this phase.
- Maintenance‑Ownership Period (MOP, 5 years): Once the flats are handed over, the next five years you’re locked into that unit and cannot sell.
So, if the BTO is finished in 2024, you’re not free to sell until around 2030. That’s a long stretch of “no‑sell” time.
What’s the Appeal of a Resale Flat?
With a resale property you skip the construction phase. All you have to wait for is the MOP, which only occupies the final five years. This simplicity makes resale flats a much more attractive go‑to for those looking to upgrade sooner rather than later.
Moreover, private property prices usually climb faster than those in the public sector. So, if you’re eyeing a resale unit, you’ll want to get in before the price surge sends you back to square one.
Market Outlook: A Calm After the Storm
Despite the spike in resale transactions this year, experts predict a slowdown in 2022/23. The “boom” of resale units isn’t going to post forever – as it gets absorbed, volumes will naturally level out.
In short: The clock’s ticking on resale flats, and if you want to dodge the long BTO wait, now’s the time to act.
