Amidst a lukewarm BTO launch, HDB resale prices and volumes show a modest rebound
In the ever-dynamic landscape of Singapore’s housing market, October 2023 has marked itself with subtle yet significant shifts. The Housing and Development Board (HDB) resale segment has witnessed a price increment, coupled with a noteworthy volume of high-value transactions, despite a less than enthusiastic response to the latest Built-To-Order (BTO) launch.
“HDB seekers in October may not be impressed with what was offered in the October BTO launch. The October BTO launch saw its lowest average take-up rate for 3 Rooms and above configurations when compared to its past 10 launches,” says 99.co’s Chief Data Officer Luqman Hakim.
Market dynamics
The SRX Property Price Index for HDB Resale indicates a 0.5% price increase in October 2023 compared to the preceding month. This rise is nuanced across different sectors, with Non-Mature Estates seeing a 0.8% increase and Mature Estates a 0.6% uptick. Room types also varied, with 3-room flats increasing by 0.3%, 4-room by 0.7%, and Executive flats by a striking 1.7%, while 5-room flats experienced a slight decrease of 0.4%.
Year-on-year analysis paints a broader picture of growth, with an overall price increase of 5.3% from October 2022. All room types have seen increases, particularly Executive flats, which have surged by 7.4%.
Mr. Luqman Hakim says, “Some of these HDB seekers may instead turn to the Resale market for more choices and this likely contributed to the 11% increase in resale volume in October. However, we expect Resale volume to stay slightly the same or lower in November and December due to the holiday period and as HDB seekers await to participate in the December HDB BTO launch.“
Transaction volume
The resale market saw 2,200 flats change hands in October, marking a 10.8% decrease from September 2023. However, this represents a 12.0% increase from the previous year. The distribution of sales across room types and estates further highlights the market’s diversity, with Non-Mature Estates accounting for 62.2% of the resale volume.
“Following the rise in volume, resale prices in October also increased by 0.5%. October also saw 41 “million-dollar” transactions – this brings the total number of million-dollar transactions in 2023 to 377, just exceeding the whole of 2022’s 370 transactions above million dollars,” says Mr. Luqman Hakim.
Record-breaking deals
A 5-room flat at Henderson Road set the record for the month with a transaction price of S$1,450,000. In contrast, Non-Mature Estates saw their highest price at S$995,888 for an executive apartment at Jurong East St 21.
Million-dollar flats
Despite a slight decrease from the previous month, October saw 41 HDB resale flats transacted for at least S$1,000,000.
These high-value sales comprised 1.9% of the total resale volume, with Bishan and Bukit Merah leading the pack with seven units each.
Market outlook
The modest BTO launch in October, which recorded a low average take-up rate, may have redirected potential buyers towards the resale market, contributing to the 11% increase in resale volume. As the year-end approaches, the market anticipates a stable or slightly lower volume, with potential buyers possibly holding off for the December BTO launch.
Mr. Luqman Hakim claims that interestingly, October is also the first month in 2023 that we did not see any million-dollar transactions in any Non-mature estates – the last time this happened was in April 2022.
Read more: Condo and HDB rental markets dip in volumes in August 2023
Conclusion
The HDB resale market’s resilience is evident in the price and volume trends of October 2023. With the total number of million-dollar transactions this year surpassing the entire previous year, the market’s appetite for premium HDB flats remains robust.
As buyers navigate between BTO launches and resale options, the market continues to offer a spectrum of choices catering to diverse needs and preferences.
The post HDB resale market sees price increase and high-value transactions in October 2023 (Flash report cover) appeared first on .
Qingjian Realty and Forsea Holdings to Preview Coastal Cabana from 6 December; First Executive Condominium in Pasir Ris in Over a Decade
748-unit seafront executive condominium featuring resort-inspired living and spacious layouts thoughtfully designed for families
Prices to start from S$1,639 psf, with a mix of 3- to 5-bedroom units ranging from 872 sq ft to 1,421 sq ft
Next to Downtown East and surrounded by a full suite of family-friendly amenities, schools, and parks
Preview and e-application from 6 to 21 December 2025
SINGAPORE, 18 November 2025 – Qingjian Realty, Forsea Holdings, ZACD Group and Jianan Capital are set to preview the highly anticipated Coastal Cabana Executive Condominium (EC) from Saturday, 6 December 2025. Located along Jalan Loyang Besar in Pasir Ris, the 748-unit coastal development enjoys a coveted position within walking distance to Pasir MRT and next to Downtown East, with select units offering panoramic sea views. Designed as a serene retreat within a vibrant neighbourhood, Coastal Cabana offers families the quiet luxury of generous living spaces, thoughtfully curated facilities, and seamless access to the estate’s recreational offerings.
Mr Du Dexiang, Managing Director of Qingjian Realty said, “Coastal Cabana is a much-needed addition for upgraders and aspiring homeowners who appreciate the vibrancy and convenience of this well-developed mature estate. At Qingjian, our focus has always been on building quality homes with enduring appeal that meet the needs of buyers. That commitment is reflected in what we have created at Coastal Cabana. With the uncertain future supply of EC developments in Pasir Ris over the next few years, this project is well-positioned to capture strong pent-up demand in the area.”
Mr Wang Xin, Director at Forsea Holdings added, “Coastal Cabana reflects our shared vision with Qingjian Realty of creating homes that combine thoughtful design with enduring quality. From its architectural composition to the landscaping and arrival experience, every detail has been planned to harmonise with Pasir Ris’ coastal character while providing residents with a sense of space and calm.”
The development comprises 16 residential blocks of 11 and 12 storeys, offering a mix of three- to five-bedroom units ranging from 872 sq ft to 1,421 sq ft. It provides a total of 748 car park lots and is expected to achieve vacant possession by 31 March 2029.
A Well-Connected Coastal Home in the Heart of Pasir Ris
Located in one of Singapore’s most family-friendly neighbourhoods, Coastal Cabana offers residents the rare combination of coastal tranquillity and urban convenience. The neighbourhood’s abundant green spaces and family-friendly amenities have made it one of the East’s most desirable places to call home.
Situated next to Downtown East and just minutes from Pasir Ris Park and Pasir Ris MRT, the development enjoys close proximity to a full suite of shopping, dining, and recreational options.
In the coming years, the existing Pasir Ris MRT station will serve as an interchange connecting the existing East West Line (EWL) and the upcoming Cross Island Line (CRL) – offering residents island-wide connectivity and shorter travel times to key destinations and employment hubs.
Residents will also benefit from excellent road connectivity, with the Tampines Expressway (TPE) and Pan Island Expressway (PIE) offering easy access to the rest of the island.
An Evolving Neighbourhood That Offers Something for Everyone
As part of the ongoing rejuvenation of Pasir Ris, the Urban Redevelopment Authority’s (URA) Draft Master Plan 2025 will introduce new residential, commercial, and recreationalenhancements to Pasir Ris, further strengthening the estate’s appeal and bringing greater convenience, vibrancy, and long-term value to the neighbourhood.
Set within this evolving and self-contained estate, residents will already enjoy a wealth of amenities – from seaside leisure and nature parks, to lifestyle, shopping, dining, entertainment options, as well as reputable schools.
For those with school-going children, a strong network of educational institutions can be found nearby, including Casuarina Primary School and Pasir Ris Primary School within 1km of the development. Other nearby institutions include Elias Park Primary School, Hai Sing Catholic School, Meridian Primary School, Meridian Secondary School, Singapore Institute of Technology, and the Singapore University of Technology and Design.
Homes Designed for Every Generation
Set against the Pasir Ris coastline, Coastal Cabana is envisioned as a modern coastal sanctuary where families can enjoy generous spaces, sea views, and seamless connectivity.
Thoughtfully conceived as a rare coastal sanctuary with stunning sea views, Coastal Cabana is designed for comfort, connection, and convenience. The development pairs functional layouts with luxury resort-inspired facilities – offering residents the tranquillity of coastal living and the energy of a vibrant, well-established community.
The mix of three- to five-bedroom units cater to the evolving needs of families at every stage of life – from young couples starting out to multi-generational households seeking space, comfort and togetherness. All unit types are north-south facing and feature naturally ventilated kitchens and bathrooms, with selected layouts offering flexible spaces for use such as study or flexi areas that can be adapted to suit different lifestyle needs.
Homeowners can also expect quality interior finishes with kitchen appliances from Bosch and bathroom fittings from Hansgrohe.
A Space for Connection, Framed by Nature
Beyond their homes, residents can also look forward to over 65 family-oriented amenities, including a two-storey clubhouse, four swimming pools, and a sky terrace that offers sweeping sea views.
Coastal Cabana’s expansive clubhouse is envisioned as the heart of the development’s activity, providing residents with a multitude of options for connection, play, and relaxation.
The two-storey clubhouse is one of the most striking features of the development. Designed as an expansive social and recreational zone, it offers spaces for every member of the family – including four function rooms, a karaoke room, a music room, kids club, yoga studio, and a fully equipped gym. Beyond the clubhouse are other facilities including a tennis court, BBQ pavilions, outdoor fitness park, and adventure park for children.
Coastal Cabana’s collection of swimming pools are thoughtfully designed to suit different lifestyles, from family recreation to wellness and lap swimming.
The development’s collection of four swimming pools has been thoughtfully curated to cater to different lifestyles and generations – from the 50-metre Grand Pool and Lifestyle pool for serious swimmers, to the Family Pool designed for parents and young children, and the Wellness pool with spa facilities and aqua gym for leisure and relaxation. This deliberate separation of spaces allows residents to enjoy both tranquillity and connection, echoing the development’s vision of harmonious living.
Complementing the range of facilities, the development is also distinguished by its landscaping and architectural concept, which draws inspiration from tranquil European gardens – reflected in its symmetry, manicured hedgerows, and elegant vertical features that frame the facades.
The Grand Boulevard forms the centrepiece of Coastal Cabana’s arrival experience, leading residents and guests through a resort-inspired sequence from the drop-off area to the main lobby.
The experience begins with each arrival home. The Grand Boulevard forms the heart of Coastal Cabana’s arrival experience – framing a resort-inspired flow that begins at the Grand Boulevard Lobby – an elegant drop-off area – and the adjacent Boulevard Lounge which serves as a grand welcome for guest entering the development. Upon entering the grounds, residents are greeted by a long reflective water corridor that creates a serene visual transition from the lively surroundings into a calm, contemplative space within the development.
The long reflective water corridor lined with manicured hedgerows creates a serene visual transition from the development’s lively surroundings into its calm, landscaped interior.
The common areas are thoughtfully arranged around lush, manicured courtyards framed by tall landscaped walls and hedgerows, evoking a sense of peace, privacy, and timeless elegance. Expansive green lawns and open play areas create welcoming spaces for children to play and for families to gather, encouraging outdoor recreation and community connection. Together, these elements create an environment that feels both tranquil and alive – a crafted sanctuary that changes in mood and scenery as one moves through it.
Preview and Launch Details
Previews and e-applications will commence from 6 to 21 December 2025. Prices will range from S$1.438 million (S$1,649 psf) for a 872 sq ft three-bedder, and S$1.623 million (S$1,639 psf) for a 990 sq ft four-bedder.
E-applications for first-and second-time applicants will be balloted by HDB. The results of the balloting will be made known by 13 January 2026 and applicants with a ballot queue number will be given an appointment date and time to book their units.
Sales launch will commence on 17 January 2026.
The sales gallery is located along Eunos Avenue 3.
October 2025 emerged as a standout month for Singapore’s new private home market, delivering one of the strongest sales performances seen this year. Developers moved 2,424 units (excluding ECs), marking a sharp rebound from September’s quieter showing and reinforcing the solid momentum already established in August. The surge was driven by a rare combination of…
For the first time, an executive flat in Singapore has reached the S$1.6 million mark. The milestone was set on 15 November 2025, when a spacious maisonette in Bishan, built in 1987, changed hands in the resale market. Executive flats in Bishan often transact above S$1.1 million despite their age, but this recent record-breaking sale…
