The estimate, calculated by SRX and 99.co based on HDB resale transaction data, shows that resale prices in both mature and non-mature HDB areas edged down by 0.1 per cent in February compared to the previous month.

The resale prices of three-bedroom HDB flats rose by 0.3 per cent, while those of four-bedroom HDB flats remained unchanged, while those of five-bedroom and flat HDB flats fell by 0.8 per cent and 0.3 per cent respectively.

Compared to the same period last year, the overall resale price of HDB flats rose by 8.3% last month.

In terms of transaction volume, an estimated 1,849 units were sold last month, some 28 per cent fewer than in the previous month and almost 3 per cent fewer year-on-year.

In addition, a total of 24 units were sold for at least $1 million last month, 16 units less than the previous month.

In Toa Payoh alone, as many as five units were sold for over a million dollars.

The highest-priced transaction last month was a five-bedroomed flat in a Starling HDB flat, which changed hands for $1.34 million.