The Housing Development Board (HDB) resale market in Singapore experienced a 0.9% increase in prices in February 2025 compared to the previous month, according to the latest SRX Media Flash Report. This rise in prices comes alongside a 9.7% decline in transaction volumes, with 2,104 flats changing hands.
The report highlights that prices in Mature Estates rose by 1.5%, whilst Non-Mature Estates saw a 0.4% increase. Among room types, 3-room, 5-room, and Executive flats saw price hikes of 2.2%, 1%, and 3.1%, respectively, whereas 4-room flats experienced a slight decrease of 0.2%. Year-on-year, overall prices surged by 9.8%, with all room types recording increases: 3-room by 11.4%, 4-room by 9.5%, 5-room by 9.2%, and Executive by 7.7%.
Despite the price increases, the number of transactions fell. February’s resale volumes were 1.4% lower than the same month last year. Notably, 58.5% of these transactions occurred in Non-Mature Estates, with the remainder in Mature Estates.
The month also saw 121 flats sold for at least US$735,000 (S$1,000,000), up from 119 in January. These million-dollar transactions accounted for 5.8% of the total resale volume. The highest price recorded was Us$1,145,000 (S$1,558,000) for a 5-room flat in Toa Payoh, whilst the top price in Non-Mature Estates was US$808,000 (S$1,100,888) for an Executive flat in Yishun.
As the market continues to evolve, these trends indicate a robust demand for HDB resale flats, particularly in Mature Estates and among larger room types.
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