HDB resale prices have increased for 15 straight months, reaching an all-time high in September 2021. As stated in our Flash Report for September 2021, prices are now 0.8% higher than the previous peak in April 2013.
Month-on-month, HDB resale prices have increased by 0.9%, increasing 0.6% in mature estates and 1.1% in non-mature estates.
Despite the new peak, resale transactions have dropped by 8.4% in September. There were 2,518 HDB resale transactions recorded in September, as opposed to 2,748 in August.
HDB estates with the highest median resale price for 4-room flats in September are Bukit Merah, Queenstown and Kallang/Whampoa. Estates with the lowest median resale prices for 4-room flats are Sembawang, Woodlands, Bedok, Jurong East and Yishun.
Million-dollar HDB flats
The highest resale transaction recorded in the month was for a five-room DBSS flat in Natura Loft for S$1,295,000. It grabbed the headlines back in end-July and currently holds the record for the most expensive HDB resale flat.
In total, there were 23 HDB resale flats transacted for at least a million dollars in the month.
Besides the record-breaking DBSS flat in Bishan, another notable thing we noticed is this Bukit Merah flat whose lease has only started in 2019.
The flat is part of a SERS project called City Vue @ Henderson.
Typically, flats can only be sold after the five-year MOP. On the other hand, there have been instances where HDB waived it off on a case-by-case basis, allowing owners to sell it in the resale market earlier. According to MND, reasons for the waiver include divorce, financial hardship and the demise of the owner.
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