For homebuyers, two notable transactions stand out. The first is a more than 30-year-old apartment-style HDB flat located at Block 321, Sengkang Avenue 2, which was sold for S$1,208,000 (approximately RMB 6,475,135), setting a new record for resale prices of similar flats in the area. Another noteworthy transaction is a four-room HDB flat located in Toa Payoh, which was resold for S$1.15 million (approximately RMB 6,160,000), which is S$49,000 (approximately RMB 260,000) higher than the previous record high. These transactions reflect the vibrancy and popularity of the HDB market.

shicheng.news

Data from the Housing and Development Board also shows that in the first quarter of this year, a total of 6,928 HDB units changed hands, an increase of 5.5% compared to the same period last year, reaching a level of 6,567 units. At the same time, the Housing and Development Board plans to launch around 19,600 Build-to-Order (BTO) flats this year, with 4,126 BTO flats and 1,588 balance flats already launched in February; and in June, approximately 6,800 BTO flats will be launched, distributed in areas such as Jurong East, Kallang/Whampoa, Queenstown, Tampines, Woodlands, and Yishun. These plans provide homebuyers with more choices and shorten their waiting time for home purchases.

However, compared to the rise in HDB market, there has been a downward trend in local private residential sales volume. According to preliminary estimates from the Urban Redevelopment Authority, overall private residential prices in Singapore rose by 1.5% in the first quarter of this year, a decrease from the 2.8% increase in the fourth quarter of last year. Specifically, prices in the Core Central Region (CCR), representing luxury apartments, saw the highest increase of 3.1%, but this growth rate was lower than the 3.9% increase in the fourth quarter of last year. Meanwhile, the Rest of Central Region (RCR), representing mid-tier apartments, saw a 0.2% increase, reversing the 0.8% decline in the previous quarter. As for Outside Central Region (OCR), representing mass-market private residences, the increase was 0.4%, slower than the 4.5% increase in the previous quarter.